Latest news with #Number10
Rhyl Journal
2 days ago
- Business
- Rhyl Journal
US-EU trade war ‘in nobody's interest', says Downing Street
Mr Trump threatened to increase tariffs on EU products last Friday, saying talks with the bloc were 'going nowhere' and suggesting the new rate could come into effect on June 1. But on Sunday night he said he would delay the tariffs until July 9 to allow for 'serious negotiations'. In Number 10's first comments since Mr Trump made his threat, the Prime Minister's official spokesman said on Tuesday: 'We've always been clear that a trade war's in nobody's interest. 'And the EU and the US are two of our largest trading partners, which is why we're so focused on improving and strengthening our trading relationships with both the EU and the US.' The EU is currently subject to US tariffs of 10%, in line with most other nations after Mr Trump climbed down from the sweeping levies he announced on April 2 that had include a 20% charge for the bloc. Earlier this month, the EU said it would impose its own tariffs on a range of American products, including aircraft, vehicles and alcohol, and begin legal action at the World Trade Organisation if it could not negotiate a solution with Washington. Although the UK has managed to negotiate some concessions to the tariffs imposed directly on the country, a wider trade war between the US and EU could still harm the British economy.
Yahoo
2 days ago
- Business
- Yahoo
UK trade representative visits Israel after Britain suspends talks
A British trade envoy has visited Israel to "promote trade" between the two countries - a week after the UK suspended talks. Lord Ian Austin, who is the UK government's trade envoy to Israel, was welcomed to Haifa on Monday, just days after Foreign Secretary David Lammy paused negotiations. The British Embassy in Israel said Lord Austin had visited a number of projects - such as the Customs Scanning Centre, Haifa Bayport, and the Haifa-Nazareth Light Rail project - to "witness co-operation at every stop".The independent peer said he was visiting Israel to "meet businesses and officials to promote trade with the UK". "Trade with Israel provides many thousands of good jobs in the UK and brings people together in the great multi-cultural democracy that is Israel," he said. Last Tuesday, the government confirmed it was suspending its trade negotiations with Israel in the wake of an accelerated military offensive in Gaza and the country's decision to limit the amount of aid allowed into the territory. Mr Lammy told the Commons that Israel's actions were "egregious" and amounted to a "dark new phase in this conflict". But despite the suspension of any new trade talks with Israel, Number 10 has insisted that the UK still has a trading relationship with the country. A spokesperson for the prime minister said: "We have always had a trading relationship, but are pausing any new ones." The UK has sanctioned a number of individuals and groups in the West Bank which it said have been linked with acts of violence against Palestinians - including Daniella Weiss, a leading settler activist who was the subject of Louis Theroux's recent documentary The Settlers. Israel criticised the UK government action as "regrettable" and said the free trade agreement talks, which ministers have now backed out of, were "not being advanced at all by the UK government". Lord Austin has previously stressed the importance of the UK's trading relationship with Israel, claiming it is "worth billions and brings massive benefits to Britain". Writing for e, he said: "It is in our national interest, and the decision this week by the government to pause negotiations on a new Free Trade Agreement does not change that. "The situation in Gaza is terrible, as it is in all wars, and the quickest way to get the aid in and save lives is for Hamas to stop fighting and release the hostages. That would end the conflict immediately."
South Wales Guardian
2 days ago
- Business
- South Wales Guardian
US-EU trade war ‘in nobody's interest', says Downing Street
Mr Trump threatened to increase tariffs on EU products last Friday, saying talks with the bloc were 'going nowhere' and suggesting the new rate could come into effect on June 1. But on Sunday night he said he would delay the tariffs until July 9 to allow for 'serious negotiations'. In Number 10's first comments since Mr Trump made his threat, the Prime Minister's official spokesman said on Tuesday: 'We've always been clear that a trade war's in nobody's interest. 'And the EU and the US are two of our largest trading partners, which is why we're so focused on improving and strengthening our trading relationships with both the EU and the US.' The EU is currently subject to US tariffs of 10%, in line with most other nations after Mr Trump climbed down from the sweeping levies he announced on April 2 that had include a 20% charge for the bloc. Earlier this month, the EU said it would impose its own tariffs on a range of American products, including aircraft, vehicles and alcohol, and begin legal action at the World Trade Organisation if it could not negotiate a solution with Washington. Although the UK has managed to negotiate some concessions to the tariffs imposed directly on the country, a wider trade war between the US and EU could still harm the British economy.
Glasgow Times
3 days ago
- Business
- Glasgow Times
US-EU trade war ‘in nobody's interest', says Downing Street
Mr Trump threatened to increase tariffs on EU products last Friday, saying talks with the bloc were 'going nowhere' and suggesting the new rate could come into effect on June 1. But on Sunday night he said he would delay the tariffs until July 9 to allow for 'serious negotiations'. In Number 10's first comments since Mr Trump made his threat, the Prime Minister's official spokesman said on Tuesday: 'We've always been clear that a trade war's in nobody's interest. 'And the EU and the US are two of our largest trading partners, which is why we're so focused on improving and strengthening our trading relationships with both the EU and the US.' The EU is currently subject to US tariffs of 10%, in line with most other nations after Mr Trump climbed down from the sweeping levies he announced on April 2 that had include a 20% charge for the bloc. Earlier this month, the EU said it would impose its own tariffs on a range of American products, including aircraft, vehicles and alcohol, and begin legal action at the World Trade Organisation if it could not negotiate a solution with Washington. Although the UK has managed to negotiate some concessions to the tariffs imposed directly on the country, a wider trade war between the US and EU could still harm the British economy.
North Wales Chronicle
3 days ago
- Business
- North Wales Chronicle
US-EU trade war ‘in nobody's interest', says Downing Street
Mr Trump threatened to increase tariffs on EU products last Friday, saying talks with the bloc were 'going nowhere' and suggesting the new rate could come into effect on June 1. But on Sunday night he said he would delay the tariffs until July 9 to allow for 'serious negotiations'. In Number 10's first comments since Mr Trump made his threat, the Prime Minister's official spokesman said on Tuesday: 'We've always been clear that a trade war's in nobody's interest. 'And the EU and the US are two of our largest trading partners, which is why we're so focused on improving and strengthening our trading relationships with both the EU and the US.' The EU is currently subject to US tariffs of 10%, in line with most other nations after Mr Trump climbed down from the sweeping levies he announced on April 2 that had include a 20% charge for the bloc. Earlier this month, the EU said it would impose its own tariffs on a range of American products, including aircraft, vehicles and alcohol, and begin legal action at the World Trade Organisation if it could not negotiate a solution with Washington. Although the UK has managed to negotiate some concessions to the tariffs imposed directly on the country, a wider trade war between the US and EU could still harm the British economy.
