Keir Starmer to push Donald Trump on steel tariffs; British retail sales rise in June

The Guardian

3 days ago

Update:
Date: 2025-07-25T06:38:15.000Z
Title: British retail sales rise in June, official figures show
Content: There is some positive news for the retail sector this morning, with official figures showing that monthly sales rose in June by 0.9%. It follows a fall of 2.8% in May.
That was helped by warm weather, with supermarkets reporting better trading and an increase in drink purchases, the Office for National Statistics has said.
The warm weather in June helped to brighten sales, with supermarket retailers reporting stronger trading and an increase in drink purchases.It was also a good month for fuel sales as consumers ventured out and about in the sunshine. pic.twitter.com/RHKdhbhxTo
While growth is encouraging, the numbers are weaker than expected. A poll by Reuters showed that economists had been expecting a monthly rise of 1.2%.
Jacqui Baker, head of retail at RSM UK and chair of ICAEW's Retail Group, warns that the sunny mood music may not last long.
While the June figures are welcome news and consumer confidence ticked up last month, nervousness among consumers persists, and the unexpected rise in inflation won't have helped. The higher price of essentials such as food and fuel will only add to the reluctance among consumers to spend as their discretionary income shrinks.
Concerns remain in the sector, as retailers increasingly run out of headroom to mitigate rising costs. Many will be hoping the government steps in to provide meaningful reductions in business rates, as well as raising the threshold at which employers' National Insurance becomes payable. It's also hoped that the reintroduction of tax-free shopping is brought back on the table, so the sector doesn't miss out further on valuable retail spend.'
Update:
Date: 2025-07-25T06:37:22.000Z
Title: Introduction: Keir Starmer to push Donald Trump over steel tariff deal
Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Donald Trump, who is due to arrive in Scotland on Friday for a five-day golf trip, is expected to meet with Keir Starmer early next week as the prime minister pushes to finalise their deal on steel trade tariffs.
In May, the US agreed to lift tariffs on steel imports from the UK, which currently stand at 25%. However, there are concerns that the steel must be melted and poured in the UK, which could exclude Tata Steel UK as it closed its last blast furnace last year. It has been importing steel from its sister plants in India and the Netherlands, which it then processes in the UK.
Starmer is expected to argue for building closer trade ties with the US, including cutting tariffs on Scotch whisky, according to a report by the Financial Times.
White House press secretary Karoline Leavitt told reporters this week: 'On Friday morning, President Trump will travel to Scotland for a working visit that will include a bilateral meeting with Prime Minister Starmer to refine the historic US-UK trade deal.'
The talks will come after Stamer sealed a tradel deal with India on Thursday. The agreement, which is the biggest struck by Britain since Brexit, will cut back the cost of India's tariffs for the UK and improve exports of products such as Scotch whisky and cars.
Starmer told Bloomberg News that his government had 're-established the place and position of the UK on the world stage.'
'We're seen as a country which other countries want to be working with and delivering with.'
7.00am BST: ONS retail sales data
7.00am BST: NatWest Q2 results
11.00am BST: NatWest AGM