WORKERS and consumers in Britain have nothing to gain from joining US-EU and anti-China tariff wars, the Communist Party has declared.

General secretary Robert Griffiths told the party’s political committee on Tuesday evening that “higher tariffs on our exports and imports would jeopardise investment, jobs and living standards.”

This is especially true given Britain’s trade deficit and its relatively small industrial sector, dominated by private-sector and foreign ownership, he warned.

Referring to the formerly proposed Transatlantic Trade and Investment Partnership, Mr Griffiths predicted that a “TTIP-style” US-British free trade agreement would favour privatisation and slash labour and consumer standards.

He added that a single market-style agreement with the EU could result in the same “disastrous deindustrialisation” experienced by Britain after this country joined the Common Market in 1973.

“President Trump’s tariff wars aim to enrich his corporate supporters in the energy, real estate, manufacturing — especially armaments — and infotech sectors, whatever the cost to workers, consumers and the poor at home and abroad,” the communist leader said.

“The most reactionary circles of US monopoly capital are desperate to rescue profitability from the growing challenge posed by People’s China and its Brics allies.

“And they mistakenly see tariffs, big-business tax cuts and slashing social and welfare programmes as the solution.”

He contrasted Donald Trump’s reindustrialisation promises with China’s phenomenal economic growth, based on massive public investment in high-tech industries, green energy, education and training, state planning and selective public ownership in key industries such as banking, construction and transport. 

“The Labour government should take a leaf out of China’s red book and invest in productive industry and green energy, funded from taxes on City speculation and the super-rich, while also renationalising the steel industry and directing the movement of capital,” Mr Griffiths said.