logo
EU's von der Leyen: trade deal delivers certainty in uncertain times

EU's von der Leyen: trade deal delivers certainty in uncertain times

Reuters27-07-2025
PRESTWICK, Scotland, July 27 (Reuters) - European Commission President Ursula von der Leyen on Sunday said a U.S. baseline tariff rate of 15% on imported EU goods would apply to cars, semiconductors and pharmaceutical goods.
She also said that a zero-for-zero tariff rate had been agreed for certain strategic products, including aircraft and aircraft parts, certain chemicals, and certain generic drugs. No decision had been taken on a rate for wine and spirits, she added.
"Today's deal creates certainty in uncertain times, delivers stability and predictability," von der Leyen told reporters before leaving Scotland.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Airline reports boom in first-class travel to UK from two countries
Airline reports boom in first-class travel to UK from two countries

The Independent

time6 minutes ago

  • The Independent

Airline reports boom in first-class travel to UK from two countries

Emirates has reported a significant increase in first-class bookings to the UK from China (27 per cent) and India (17 per cent) in the first half of the year. It comes alongside a 10 per cent rise in business class bookings from Australia. The airline also anticipates a surge in Chinese visitors to regional UK airports like Glasgow and Newcastle, with projected increases of 18 per cent and 45 per cent respectively in the second half of 2025. Emirates says this growth in affluent international visitors is driving economic growth within the UK. The UK government aims to attract 50 million international visitors annually by 2030.

Reform UK's new justice adviser calls for bolstered ‘rehabilitation' in prisons
Reform UK's new justice adviser calls for bolstered ‘rehabilitation' in prisons

The Independent

time6 minutes ago

  • The Independent

Reform UK's new justice adviser calls for bolstered ‘rehabilitation' in prisons

Reform UK's new justice adviser has called for bolstered prisoner 'rehabilitation' as she accused previous governments of having 'failed and failed miserably' on crime and punishment. Vanessa Frake also warned that criminals 'lose their support systems on the outside' when they are sentenced, and risk having no other choice than to 'get on that crime ladder' after a short time in prison. Nigel Farage, Reform UK's leader, has promised 'the most significant event' of his party's crime campaign later on Monday. Speaking on Times Radio, Ms Frake said: 'I read every week negative press about our prison service and drugs, mobiles, violence, suicide, self-harm, etcetera, etcetera. 'And you know, the time is now for somebody to do something about it. Successive governments have failed and failed miserably and, you know, that's why our prison service now is on its knees.' The former prison governor said: 'I'm not naive in the fact that people don't want to spend money on prisons – they'd rather it went to the NHS, to education – I'm not naive at all about that. 'But actually, if you think about the whole picture, at the moment we're warehousing prisoners and we're turning out better criminals into our society. 'I'd like to see it where we actually do some rehabilitation and make our society safer for our children, and that is going to cost money but at least somebody is listening to others.' Ms Frake, who wrote about her previous work in her book The Governor, also referred to a Government scheme which cut temporarily the proportion of sentences certain inmates must serve behind bars from 50% to 40%. 'In a prison, now they do 40% of a sentence,' she said. 'There's very little you can do with somebody who is addicted to drugs, alcohol, has mental health issues. There is very little you can do within a prison at that time. 'And when people are sentenced to short sentences, they lose their support systems on the outside. 'They lose their home if they had one, they lose family support and we let them out with nothing so their only alternative is to commit crime and get on that crime ladder, and that needs to be addressed. 'What I would like to see is much better community services, much better community and substance misuse services outside of prisons, and much better management of prisoners on the outside.' Asked whether she was willing to have a 'difficult conversation' with party leader Nigel Farage, Ms Frake replied: 'He might have his own views but he will listen far more than any other party has listened in the past.'

Car finance scandal: shares in UK lenders jump after supreme court ruling
Car finance scandal: shares in UK lenders jump after supreme court ruling

The Guardian

time6 minutes ago

  • The Guardian

Car finance scandal: shares in UK lenders jump after supreme court ruling

Shares in UK lenders surged on Monday after a favourable supreme court ruling significantly slashed the anticipated bill for companies engulfed in the car finance scandal. Specialist lender Close Brothers, which is the most exposed to the scandal, jumped as much as 27% at the start of trading, while the UK's biggest motor loan provider, Lloyds Banking Group, rose by 5.5%. Shares in Barclays, which no longer provides car finance but is dealing with the fallout for the remaining loans on its books, rose by 1.1%. The motor finance industry – which ranges from big banks such as Lloyds and Santander UK to specialist lenders and the finance arms of carmakers such as Ford and BMW – dodged a collective £44bn compensation bill after the supreme court broadly sided with lenders in a ruling on Friday. The Financial Conduct Authority (FCA) subsequently announced plans for a much smaller redress scheme, which will go out for consultation by October. It is expected to cost lenders between £9bn and £18bn. The scheme will help draw a line under the car finance scandal, compensating millions of drivers who were overcharged as a result of controversial commission arrangements between lenders and car dealers as far back as 2007. Lloyds, which had previously set aside £1.2bn to cover compensation payments, did not announce any further provisions on Monday, and said that the 'ultimate impact' on the bank would depend on a 'number of factors'. That included the outcome of the consultation over the FCA compensation scheme, any 'further interventions' including by regulators, as well as 'broader implications of the judgment, including legal proceedings and complaints.' However, Lloyds, which is the largest provider of motor loans in the UK through its Black Horse division, said any additional money put aside for compensation 'is unlikely to be material in the context of the group'. 'The provision will continue to be reviewed for any further information that becomes available, with an update provided as and when necessary,' Lloyds added. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Close Brothers, which was one of two lenders who appealed against their case in the supreme court, has already put aside £165m for the scandal, cancelled dividends and announced plans to sell its asset management business to strengthen its finances. It said on Monday: 'We look forward to engaging with the FCA in respect of the consultation.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store