Europe

The UK government has suspended import tariffs on 89 products for two years, aiming to alleviate pressure on British businesses following the US's imposition of blanket tariffs. This initiative is projected to save businesses at least £17 million annually and includes a £20 billion increase in government-backed financing for exporters, allowing small firms access to loans of up to £2 million. Amid uncertainty regarding future US trade negotiations, Chancellor Rachel Reeves emphasized the UK's commitment to free trade while pursuing new trade relationships with the EU, India, and other regions. Full Article

A recent study reveals that a significant majority of UK voters prioritize rebuilding trade relationships with the EU over establishing a new economic deal with the US. The research indicates that the public perceives their economic interests as more closely aligned with open trade relations with European neighbors rather than potential agreements with the US government. This shift in focus reflects a growing sentiment among Britons regarding the importance of EU trade ties in comparison to any future deals that might be negotiated by Keir Starmer. Full Article

The recent near-collapse of the $29 trillion US government debt market has raised concerns about the stability of both the American and global financial systems, threatening the safe-haven status of dollar assets. In a dramatic turn, the US president, who had boasted of global admiration, found himself in a precarious position similar to that of former British Prime Minister Liz Truss, as market pressures forced him to pause previously announced tariffs for 90 days, ultimately lowering them to 10%, except for those on China. This situation prompts a reevaluation of the global trade order absent US influence. Full Article

The government has implemented a ban on meat and dairy imports from EU countries to Great Britain, effective this weekend, in response to a rise in foot-and-mouth disease (FMD) cases across Europe. Tourists visiting the continent for cured meats and cheeses will be unable to bring these products home for personal use, as the restriction aims to curb the spread of the disease. This measure is part of broader efforts to safeguard public health and prevent FMD from entering the UK. Full Article

Keir Starmer, the author of "Keir Starmer: The Biography," is avoiding confrontation with the unpredictable president, understanding that the real issue lies with Trump. Despite the challenges posed by the US, the Prime Minister is seeking solutions elsewhere. Starmer finds solace in football and family holidays, providing relief from the economic struggles and global insecurity exacerbated by the UK's historical ally. Full Article

The Trump administration aims to shift the international economic system towards a multi-polar world by forming a US-led alliance focused on balanced trade, security, and excluding China. While countries like Mexico, Canada, Japan, and India seem likely participants, Europe's role, particularly Germany's, remains uncertain due to economic challenges and reluctance to confront China. US officials warn Europe of the consequences of aligning with China, emphasizing the need for strategic choices to avoid continued decline. Full Article

The US-China trade war has intensified, with Trump imposing high tariffs on Chinese imports and Beijing retaliating. China faces a strategic choice in shaping its economic policy amidst global turmoil and concerns over dumping and unfair trade practices. Both nations must find a resolution to avoid negative impacts on global growth and trade relations. Full Article

The Prime Minister's reluctance to advocate for realignment with Europe is hindering Britain's standing in crucial negotiations. Supporters of Brexit were able to see the potential benefits when Donald Trump announced tariffs, showing the discrepancy between the 20% levy on continental exports and the 10% rate for British goods. However, the gap closed when Trump changed his plans, leaving the UK government with uncertain outcomes and little leverage in negotiations. Full Article

Germany and other European countries are cautious about potentially imposing taxes on Big Tech if trade negotiations with the Trump administration fail, following US President Donald Trump's threat to impose tariffs on EU imports. European Commission president Ursula von der Leyen has mentioned retaliatory measures, including a tax on digital advertising revenues affecting tech giants like Amazon, Google, and Facebook. However, Germany's finance minister Jörg Kukies has warned against targeting digital corporations, emphasizing the lack of alternatives to American digital services. The EU has suspended retaliatory tariffs on US products for 90 days to allow for negotiations, with countries like...

A man-sized cut-out of a black zero in Stuttgart symbolizing Germany's commitment to balanced budgets is now gathering dust, reflecting the country's shift towards debt-fueled spending led by incoming chancellor Friedrich Merz. The removal of the statue by finance minister Danyal Bayaz marks the end of an era of fiscal conservatism, as Germany faces economic challenges and infrastructure needs. Despite some skepticism, most Germans support the new debt package, signaling a departure from longstanding beliefs in budgetary discipline and the iconic Swabian housewife's thriftiness. Full Article