The damning statistics that reveal the true cost of Brexit, five years on

Italy’s Prime Minister Giorgia Meloni is set to meet Donald Trump in Washington following inconclusive EU-US talks regarding tariffs that currently impact steel, aluminum, and cars. Meloni, who has established a rapport with Trump and advocates for negotiations rather than retaliation, aims to clarify US demands, as EU negotiators have reported a lack of transparency. While she has supported an EU proposal to eliminate tariffs on industrial goods, US tariffs are expected to remain, with...

Amid Donald Trump's trade war, Chinese officials and businesses are attempting to strengthen ties with the EU to find alternative markets for goods impacted by US tariffs, while the EU remains cautious about becoming a dumping ground. Despite calls for greater cooperation, significant challenges persist, including China's trade surpluses, market access barriers, and its support for Russia in the Ukraine conflict. Both sides recognize the need for stability and leverage against the US, but EU...

The Eurosceptic vision of a globalised Britain, distanced from Europe, has deteriorated amid Trump's trade wars, revealing differing views on China within the transatlantic alliance. While there is mutual concern over China's role as a commercial rival and security threat, Washington's hawks perceive an existential challenge, contrasting with more engagement-oriented Europeans. Britain's stance has fluctuated, with David Cameron in 2015 heralding a "golden era" of trade with China, while Boris Johnson, in 2020, yielded to...

The US-China trade war risks pushing the global economy into recession, with the World Trade Organization (WTO) warning that global output could drop by 7% if the two nations fully decouple. WTO Director-General Ngozi Okonjo-Iweala highlighted that US tariffs and China's retaliatory measures could fragment global trade, compelling countries to align with one bloc or another. She noted that poorer nations are particularly vulnerable and emphasized the need for diversification in production to enhance global...

The European Commission has reported a significant increase in unsafe products detected in the EU, primarily from China, with over 4,000 alerts in the past year, the highest since 2003. Cosmetics represented 36% of these dangerous items, often containing harmful chemicals like BMHCA, which is banned in the EU. To address this surge, the commission proposed holding e-commerce firms accountable for unsafe products, ending the customs duty exemption for low-value imports, and establishing an EU...

Bonuses at EU specialist investment firms have surged since they were exempted from the bloc's bonus cap rules, with average bonuses for key staff reaching €1.5mn in 2022 and €1.15mn in 2023, exceeding six times their fixed pay. The European Banking Authority (EBA) highlighted a gender pay gap, noting women earned 24.5% less than men at deposit-taking banks and 32% less at investment firms, with calls for better analysis and action to address this disparity....