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Daily Mail
03-06-2025
- Business
- Daily Mail
Do we have a US trade deal or not? Business Secretary meets Trump officials amid fears there is STILL no timetable for terms to be finalised
Labour is facing questions over its trade deal to exempt the UK from Donald Trump 's tariffs with no date set for it to come into force a month after it was agreed. Sir Keir Starmer and Mr Trump announced the broad terms of an agreement almost a month ago that would excise the UK from some of the US president's punitive levies on steel and cars while increasing market access for other goods. The Prime Minister hailed the announcement as a major achievement, saying the UK was the first nation to reach such an agreement with Mr Trump. But almost four weeks on, Trade Secretary Jonathan Reynolds will meet US officials in Paris today to hammer out a timeline for change to actually happen. The details are still being worked out ahead of a formal deal, and the Government hopes for an agreement within weeks. That meeting comes amid uncertainty about the future of Mr Trump's tariffs after a US court last week ruled many of them unlawful, before an appeals court reinstated the levies pending a further hearing. Last week also saw Mr Trump announce that he would double tariffs on steel to 50 per cent, starting on Wednesday, and it remains unclear how the UK would be affected. Andrew Griffith, the Conservative shadow business secretary, said: 'Labour told the British public we had a deal with the US – but one month on there is no deal in sight, meaning British businesses and workers continue to suffer because of Labour's failed negotiations.' Mr Reynolds is expected to discuss implementing the deal during talks with US trade representative Jamieson Greer in Paris on Tuesday, where he is attending a meeting of the OECD. Mr Reynolds's visit to Paris is part of a three-day trip, during which he is expected to meet other trade ministers and attend a G7 ministerial meeting before heading to Brussels for meetings with his EU counterparts. During the trip, the Trade Secretary will argue that the UK is a dependable partner in an era of increasing global volatility. He said: 'Our deals with the US, EU and India are proof that the UK is the most connected country in the world to do business. Along with our modern industrial strategy, our Plan for Change is making the UK a safe, stable bet in uncertain times. 'We recognise our relationship with G7 allies and EU counterparts must continue to evolve and deliver a better trading environment for our businesses and exporters. 'That's why we want to wipe away costly, business-blocking barriers and open up opportunities to grow our economy, create jobs and put more money in people's pockets.' Almost four weeks on, Trade Secretary Jonathan Reynolds will meet US officials in Paris today to hammer out a timeline for change to actually happen. Meanwhile, the legality of the approach used for imposing the most sweeping of Trump's tariffs has been cast into doubt. Last Wednesday, the Court of International Trade ruled that Trump had overstepped his authority with tariffs devised under the International Emergency Economic Powers Act, including the 'Liberation Day' levies that his the UK. Less than 24 hours later, an appeals court temporarily paused that decision. The tariffs at the center of the legal dispute are expected to remain in effect as the case plays out.
Bloomberg
02-06-2025
- Business
- Bloomberg
Korean Air Chairman Calls for Political Stability, Tariff Cuts
South Korea's next government should prioritize making a trade deal with Washington that shields the aviation industry from tariffs, the head of the country's largest airline said. Korean Air Lines Co. Chairman and Chief Executive Officer Cho Won-Tae, speaking before voters head to the polls on Tuesday to choose a new government, said he expects the outcome to lead to stability and predictable governance, no matter who wins.
Fox News
20-05-2025
- Business
- Fox News
Growing Hope For American Farmers
The United States and the UK have reached a trade deal that gives the American agriculture industry far greater access to the UK markets. President Trump called the new agreement 'historic,' pledging it will reduce the non-tariff barriers that unfairly discriminate against American products by ensuring American farmers and ranchers can sell their goods to global markets. First, Agriculture Department Secretary Brooke Rollins joins the Rundown to discuss the expansion of U.S. farm products into the UK and what the President teased as 'billions of dollars of export opportunities produced by America's great farmers.' Later, farmer and author of 'Land Rich, Cash Poor,' Brian Reisinger, joins to discuss how the deal delivers relief to U.S. farmers after the squeeze of tariffs. Over the weekend, news broke that former President Joe Biden has been diagnosed with stage 4 prostate cancer. Prostate cancer is the most common cancer among adult men in the United States and is the second leading cause of cancer-related deaths. Dr. Randall Lee, Assistant Professor in the Department of Urology at the FOX Chase Cancer Center at Temple Health, joins to discuss the former President's diagnosis and offers insights on how to detect and treat prostate cancer. Plus, commentary from FOX News Digital columnist David Marcus. Photo Credit: Matt Griggs Learn more about your ad choices. Visit
Times
19-05-2025
- Business
- Times
Keir Starmer is right to pursue pragmatic closer ties with Brussels
Today marks one of the most important days of Sir Keir Starmer's premiership to date. It is also the most consequential moment since Brexit when it comes to UK-EU relations. Before the prime minister entered office, a new trade deal with Brussels was a key priority. As a backer of a second referendum, it is no surprise he is eager to undo the loose relationship negotiated by his Tory predecessors. He is doing so when polling suggests the public are in favour of closer ties with the bloc. Negotiations between the UK and EU have been ongoing for some months and today's summit marks the formal sign-off. But as is often the case, the final details have been ironed out at the last moment. The
Yahoo
18-05-2025
- Business
- Yahoo
Target, Home Depot, and Zoom: Stocks to watch this week
Last week, surprise news of a temporary and tentative U.S.-China trade deal set stocks roaring from Monday on, though optimism cooled by Friday as skepticism mounted and commentators focused on yet another 90-day pause. The S&P 500 ended the week on a positive note, while the Nasdaq spiked midweek on Nvidia's (NVDA) Saudi Arabian opportunity — only to finish flat. The Dow, weighed down by UnitedHealthcare's (UNH) ongoing crisis, still managed to close in the green. Walmart and Deere both reported earnings, warning of tariff-induced price hikes and a slowdown in the dirt-and-diesel economy. This week, investor attention turns to Target (TGT) and key macro indicators, including the Fed's latest meeting minutes and some housing market data. Here's what to watch, day by day: On the macro front, the Conference Board's Leading Economic Index (LEI) for April drops at 10:00 a.m. ET. This composite of 10 forward-looking indicators is expected to continue its months-long decline, reinforcing concerns that the U.S. economy is losing steam under the weight of high interest rates and Trump's trade wars. While not a market-mover on its own, the LEI helps shape recession-risk narratives and may color investor sentiment heading into Fed minutes later in the week. Home Depot (HD) reports before the bell, giving a read on U.S. consumer spending, particularly on big-ticket discretionary items like appliances and renovations that people tend to pull back on during tougher times. Analysts will be watching for any signs of margin pressure or weakening demand, especially in light of last week's downbeat outlook from Walmart (WMT). As one of the biggest names in home improvement retail, Home Depot's results are typically taken as a proxy for DIY-project appetite and, by extension, housing-market sentiment. Canada's April CPI data also arrives before market open. With U.S. inflation still volatile, markets will keep a close eye on any cross-border pressure signals, particularly as regards energy and food. It's also another big day for earnings from household names. Target reports premarket, offering insight into how middle class consumers are feeling about the threat of rising prices on Tide and tank tops. Baidu (BIDU) also reports pre-market, giving investors a look at China's tech sector and the AI race in the wake of changing U.S. export controls. Later in the morning, Medtronic (MDT) will post results, giving investors insight into medical devices and hospital spending. Zoom Communications (ZM) reports results after the bell. Best wash your face and throw on a sweater for those. Thursday's focus shifts to the housing market, with the National Association of Realtors releasing April's existing home sales data at 10:00 a.m. ET. This report portrays the current state of the housing sector, with analysts watching for signs of any further slowdown in sales activity. What, a slower news day? It's possible. With no major economic data releases or earnings reports scheduled, and barring any unexpected developments, markets just might enjoy a quiet near-summer Friday. Maybe we can all slip out early for the holiday weekend? For the latest news, Facebook, Twitter and Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
