Latest news with #EUUK
Daily Mail
23-05-2025
- Business
- Daily Mail
Sir Keir warned not to cosy up to EU as President Trump now threatens Brussels with 50 per cent tariffs
Sir Keir Starmer was yesterday warned against more Brexit backsliding after Donald Trump threatened to hit the EU with 50 per cent trade tariffs. The US President made the threat amid trade talks between Washington and Brussels, warning he could impose the tariffs next month. It comes after Sir Keir unveiled his EU-UK 'reset' deal this week, bringing Britain the closest its been with the bloc since Brexit. But critics fear it's the start of a slippery slope which could lead to the PM, who tried to reverse Brexit while in Opposition, taking Britain back into the EU's customs union or single market. Were this to happen, the tariffs would likely apply to the UK part of his deal, dubbed the 'surrender' pact by Brexiteers, Sir Keir agreed to shackle Britain to the EU's rulebook on food standards, also known as the Sanitary and Phytosanitary Agreement (SPS). He also surrendered Britain's fishing waters to EU trawlers for another 12 years and committed to a youth mobility scheme which could give tens of thousands of Europeans the right to live and work here. Former Tory leader Sir Iain Duncan Smith said: 'This week he stupidly went and handed ourselves over to the EU on SPS, where we have now become a rule-taker from the EU. 'So this 50 per cent tariff should be a warning to him that it's a mistake getting directly back involved with the EU.' Stock markets fell sharply on Mr Trump's threats. The FTSE 100 closed 0.24 per cent, or 21.29 points, down. European markets fell even further – with Germany's Dax down 1.5 per cent and France's Cac 40 falling 1.7 per cent. In New York, stocks were also trading lower. Analysts said Mr Trump's announcements had eradicated optimism that his previous aggressive stance on tariffs had cooled after deals with China and the UK. 'The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,' Trump wrote on his Truth Social site. 'I am recommending a straight 50 per cent Tariff on the European Union, starting on June 1, 2025.' EU exports to the United States last year totalled about €500billion (£420billion), led by Germany with €161billion (£135billion). Mr Trump also turned his fire on tech firm Apple. 'I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,' he said, referring to the Apple chief executive. 'If that is not the case, a Tariff of at least 25 per cent must be paid by Apple to the US.' Apple shares fell nearly three per cent.
Free Malaysia Today
20-05-2025
- Business
- Free Malaysia Today
EU and UK reach tentative agreement ahead of summit, say EU officials
Britain is seeking closer collaboration with the EU on trade and defence to help grow the economy and boost security on the continent. (Reuters pic) BRUSSELS : The EU and Britain reached a tentative agreement on defence and security, fisheries and youth mobility ahead of a EU-UK summit today, paving the way for British firms to participate in large EU defence contracts, EU officials said. Representatives of EU governments in Brussels received a text of a common understanding between Britain and the EU and the document is now being approved by all 27 EU governments, the officials said. British Prime Minister Keir Starmer and European commission president Ursula von der Leyen and European council president Antonio Costa will meet later today in London. 'There is an agreement … on the different texts and parallel aspects of the EU-UK Summit,' one EU diplomat said. 'From my understanding, all member states seem to be happy with what's put on the table as the summit is about to start. There is now an ongoing written procedure to have the formal agreement of all member states but it shouldn't cause any problem,' the diplomat said. Britain is poised to agree the most significant reset of ties with the EU since Brexit, seeking closer collaboration on trade and defence to help grow the economy and boost security on the continent. 'With the positive signs coming from the negotiators in London in the last days and hours, the scene is now all set for a very successful and constructive reset of the relationship, that both the EU and UK will benefit from,' the diplomat said.
Scotsman
19-05-2025
- Business
- Scotsman
EU UK reset deal: What Sir Keir Starmer's deal means for Scotland and the UK
The new EU UK Brexit resent agreement was announced on Monday. Sign up to our Politics newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Prime Minister Sir Keir has confirmed a new agreement with the European Union after six months of negotiations. In what is being described as a 'major deal', the agreement includes a string of changes that Sir Keir Starmer says will be 'good for jobs, good for bills and good for our borders'. Advertisement Hide Ad Advertisement Hide Ad Ursula von der Leyen and Sir Keir Starmer have been involved in talks to reach the new deal | Getty Images/NationalWorld The UK government says the food trade (SPS) and energy (ETS) agreements are worth up to £8.9 billion annually in 2040 UK GDP terms. Here's the biggest changes and what it means for Scotland. Food As part of the deal, a new SPS agreement will make it easier for food and drink to be imported and exported by reducing the red tape that has hurt businesses and led to lengthy lorry queues at the border. Lorries queueing along the A20 outside Dover in Kent in April. | Gareth Fuller/PA Wire Some routine checks on animal and plant products will be removed completely, allowing goods to flow freely again, including between Great Britain and Northern Ireland. Ministers say this could lower food prices and increase choice on supermarket shelves. Brexit led to a 21 per cent drop in exports and 7 per cent drop in imports, but now the UK will also be able to sell various products, such as burgers and sausages, back into the EU again. Advertisement Hide Ad Advertisement Hide Ad Travel One of the most immediate benefits is for holidaymakers, with British passport holders able to use e-Gates at more European airports as part of a UK-EU deal. Since Brexit, British travellers arriving at EU airports have generally been forced to queue for manned desks to have their passports stamped, rather than use automated gates with facial recognition technology. This has led to many passengers facing long queues, particularly during peak periods. Now Scots going to Europe will have smoother travel. Pets will also be able to travel more easily, with the introduction of 'pet passports' for UK cats and dogs – eliminating the need for animal health certificates for every trip. North Sea The deal also promises to create investment in the North Sea by encouraging up to 51,000 jobs in the area through the energy agreement that puts investment into decarbonisation. The UK government says the agreement will bring consumer benefits of up to £18 billion and up to £24bb in system benefits by 2050. Fishing One of the more controversial areas is in fishing, with a 12-year deal done on fishing access for EU boats into UK waters. The UK government says it has secured improved trading rights for food and agricultural products into the European Union, meaning fishers in Scotland and the rest of the UK will be able to sell more of what they catch. Advertisement Hide Ad Advertisement Hide Ad Labour also argues that by avoiding yearly renegotiations from 2026 onwards, they are giving fishers stability and certainty. However, Elspeth Macdonald, who represents more than 400 fishing boats as chief executive of the Scottish Fishermen's Federation, described the deal as a "total capitulation to the EU". She claimed the multi-year deal meant the EU continued to take a far bigger share, adding "it would be a terrible deal for Scottish fishermen'. The poll has shown strong support for UK control of fishing waters. Picture: Getty Images Steel British steel exports are now protected from new EU rules and restrictive tariffs, through a bespoke arrangement for the UK that will save UK steel £25m per year. Advertisement Hide Ad Advertisement Hide Ad Defence The agreement allows the UK defence industry to bid for £150bn worth of export contracts in the defence procurement project, a 430,000-jobs strong sector - the equivalent of one in every 60 jobs. The UK is one of the largest exporters of defence equipment in the world, and in 2023 the UK won defence orders worth £14.5bn.
