Latest news with #USUKTradeDeal
The Independent
17-06-2025
- Politics
- The Independent
Starmer reveals why he rushed to picked up Trump's trade deal papers at the G7
Keir Starmer has revealed why he rushed to pick up Donald Trump's papers during one of the most talked about moments of the G7 summit in Canada. The prime minister and US president were announcing the implementation of their US-UK trade deal after holding a bilat at the summit in Alberta when the wind caught the papers, sending them to the floor. It prompted a swift response from Sir Keir, who stooped down and collected the bundle, before handing them back to Trump. Speaking to UK journalists after Trump had left the summit, the prime minister was asked whether the incident – along with the US president confusing Britain and the EU and a recent trip while getting on Airforce 1 – should prompt concerns about the 79-year-old's health. But the prime minister replied: 'No.' Talking about the incident, Sir Keir pointed out that he was the only one who could have picked them up for fear of security reacting to anyone else being near the president. He said: 'I mean, look, there weren't many choices with the documents and picking it up because, as you probably know, there were quite strict rules about who can get close to the President. 'I mean, seriously, I think if any of you had stepped forward other than me.. I was just deeply conscious that in a situation like it would not have been good for anybody else to have stepped forwards– not that any of you rushed to! 'There's a very tightly guarded security zone around the president, as you would expect.' He added: '[The president] was in good form yesterday. 'And I'm just really pleased that we signed the executive order.' Asked why Trump, who praised Starmer's statesmanship after their meeting, seems to like him so much, the PM said: 'Well, I mean, that's really for him to answer me, but I think it's we do have a good relationship. I think that is in the national interest. 'I'm very pleased that I've got a good relationship with him, notwithstanding, as both he and I acknowledge, that our political backgrounds are different. But it just goes to prove that, you know, it is possible to work in a constructive way if you keep your focus on the national interest.' He also expressed optimism about completing the final part of the trade deal in getting steel tariffs down to zero per cent. Sir Keir said: 'There's further work to do in relation to steel, but we're getting on and doing that work, and that doesn't require us to change the ownership of British Steel. But as we were with cars and with aerospace, we're in the implementation stage now, and it's included in the executive order, which is so the executive order mirrors what I agree with the President when I was over in Washington. 'So that's the significance. But now it's in the executive order form, which obviously moves along on the implementation stage.' He also revealed he spoke to the boss of Jaguar Land Rover after finally implementing the deal and was told that 44,000 employees were 'highly relieved'.
The Independent
17-06-2025
- Business
- The Independent
How the ‘big, beautiful' UK-US trade deal led to a big, beautiful friendship
He called him 'Donald'. No one calls him 'Donald' – maybe not even Melania or his kids. 'The Donald', yes. Though about him, not to him, face to face. It's 'Mr President' or 'sir'. But that's what Keir Starmer – the 'woke', progressive left-wing human rights lawyer and the kind of chap that Maga loves to hate – did. The same guy who JD Vance tried, but failed, to bait about free speech when he was last in the Oval Office (Trump notably then did not rise to the invitation to join in and publicly maul the British premier). Apparently, Keir is in such good terms with the US president he calls him by his first name only – like it's the most natural thing in the world, and Donald doesn't mind a bit. I'm sure I saw it happen at the G7, when the pair announced to great surprise that Trump had signed (most of) the 'US-UK Economic Prosperity Deal' (EPD). It was like they'd said they were getting engaged. Trump dropped the papers out of the folder at the reveal, but before Trump had even started to lean down – and who could be sure he'd make it and then get up again? – Starmer had helpfully hit the tarmac and was retrieving the precious pages. 'Very important document,' he said. Is it? Well, the 'optics' make it so. I wondered what Nigel Farage and Boris Johnson – not to mention former UK international trade minister Kemi Badenoch – would be wondering as they watched this outbreak of trans-Atlantic bonhomie succeeding, albeit modestly on paper, on a trade deal with the most dynamic economy on Earth where they had all failed. The EPD is certainly not as good as it might be. It's not the kind of comprehensive free trade deal that was touted by the Brexiteers a decade ago. They've dropped the clauses on steel, seemingly because of residual American worries about the nominal Chinese ownership of the near-nationalised British Steel. There are also ominous clauses about pharmaceuticals and (implied) renegotiating the prices paid by the NHS. There are the usual vague hopes about hi-tech stuff, but nothing on financial services (down to the individual states mostly), and the car industry is still stuck with a 100,000 quota before punitive tariffs kick in. However, the glass is definitely half full in the sense that the EPD has potential – and it is one more Trump tariff deal than anyone else in the world has got. There's no mistaking it's a personal diplomatic achievement for Starmer and his diplo-political team. In fact, the most significant words about trade weren't in the EPD but uttered by Trump – sorry, Donald, now we're all pals – as he left the improvised press conference. The British would be looked after on trade 'because I like them,' he declared. In particular, he likes Keir. Even though he is 'slightly more liberal than I'. Too right, Donald. This is a guy who despises everything you stand for, but, unlike David Lammy or Peter Mandelson, to take two prominent examples, Starmer was not one of the people stupid enough to slag him off in public, and then have to recant it. It just wasn't – and isn't – Starmer's style. They say opposites attract, so maybe that's why the boastful felon and the reserved British former public prosecutor get along so well. That and the fact that both men are so desperate to show that they can actually get stuff done that they felt a sudden and compelling impulse to sign off on the EPD. To be fair, Starmer has enjoyed remarkable success in foreign affairs. However, it is an uncomfortable fact for Donald that the EPD, such as it is, is the only international deal on peace, trade – or anything that he's managed to reach. The great deal-maker has failed in the Middle East and in Ukraine. In fact, he's off early from the G7 summit to go deal with the Israel-Iran conflict, possibly making contingency plans to bomb Tehran (although that's denied). Had Kamala Harris won last November, Trump would now be fulminating about how 'this would never have happened if I'd been president' – the usual hypothetical nonsense. He hasn't achieved peace anywhere, let alone on day one, and his tariffs policy is mostly a disgrace. But he can at least boast that he's got one 'big, beautiful trade deal' done. Starmer, too, can go home to tease Badenoch and Farage about this post-Brexit triumph. No wonder he's so nice about Keir, and Keir is so nice about Donald. That's a nice deal.
Bloomberg
09-05-2025
- Business
- Bloomberg
US Eyes China Tariff Cut, Slim UK-US Deal, First American Pope
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is considering a significant tariff reduction in talks with China to ease economic pain and de-escalate tensions. The US aims to reduce tariffs below 60% as a first step, which China may be prepared to match, with progress possible as soon as next week. (2) The new trade deal between the US and UK includes a carve-out for autos, which could reduce the tariff levy from 27.5% to 10%, making a 0.1% difference to UK GDP. The deal's impact is limited because almost half of UK value-add that ends up in the US is exported via other countries, and global uncertainty remains a major drag on the UK economy. (3) US President Donald Trump's trade policy is upending long-held alliances, threatening global growth and causing mayhem for business. For UK homeowners, though, it is working out quite well. In the last few weeks, several major high street lenders have cut mortgage deals below 4% for the first time in months. (4) Mayor of London Sadiq Khan will 'actively explore' building on the city's green belt in what would amount to the biggest change to housing policy in the UK capital since the 1960s. The mayor will announce a consultation on releasing parts of London's green belt in a speech Friday, saying that some building in the protected zone around the city is necessary to meet the capital's targets and to end a housing crisis. (5) Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church. Prevost, 69, chose the name of Leo XIV for his pontificate and was greeted by thousands of cheering faithful as he stepped out onto a balcony overlooking St. Peter's Square to be presented to the world.
Sky News
08-05-2025
- Business
- Sky News
Trade deals and interest rates - a good day for Starmer?
👉 Listen to Sky News Daily on your podcast app 👈 President Trump has called the US-UK trade deal "full and comprehensive" while Sir Keir Starmer said "it's going to not only protect jobs, but create jobs, opening market access". The deal comes as interest rates are now at their lowest level for two years after the Bank of England cut the base rate by a quarter point to 4.25%. The Bank also raised its economic growth forecast for this year. In today's Sky News Daily, Niall Paterson talks to business correspondent Paul Kelso about how good a deal it is for the UK and whether the reduction in interest rates will have more of an impact on the country's finances.
CNN
08-05-2025
- Business
- CNN
Economist pours cold water on Trump's trade deal with the UK
President Donald Trump said he will make a significant trade announcement with the United Kingdom, yet another sign of some possible relief from historically high tariffs that have threatened serious damage to the US and global economies. Economist Justin Wolfers discusses the significance of a US-UK trade deal.
