The UK and US are in negotiations to exempt the UK from President Trump’s steel tariffs, with Business Secretary Jonathan Reynolds emphasizing the negative impact on both countries. The UK government announced a £2.5bn cash injection into the steel industry, addressing job losses and investing in new technologies. The government’s Plan for Steel aims to reduce production costs, promote domestic steel use in infrastructure projects, and protect the sector from unfair trading practices, while also considering the potential consequences of US tariffs on UK steel exports.
Full Article
'Very, Very Bad': Former US Government Economist Makes Bleakest Trump Prediction
Former Obama-era Department of Labor economist Jesse Rothstein warns that the United States is on the brink of a severe recession due to massive government job cuts and pullback from contracts by the Trump administration. With over 200,000 federal jobs eliminated, Rothstein predicts record job losses in the upcoming March 2025 employment report. Additionally, economists have raised concerns about Trump's tariffs on imports and deportation policies potentially leading to a new financial crisis, causing uncertainty...
Read more