The U.S. trade deficit in goods reached a record $1.2 trillion in 2024, driven by strong imports of auto parts, weight-loss drugs, computers, and food, while export growth was hampered by a strong U.S. dollar. The deficit with China was the largest, at $295.4 billion, and President Trump may use the data to justify trade actions against other countries. Despite criticism, economists attribute the deficit to the U.S. economy’s strength, with consumers continuing to spend on imports.
Full Article
UK ministers launch investigation into blaze that shut Heathrow
UK ministers have launched an investigation into the fire at an electrical substation that forced Heathrow airport to close. Energy Secretary Ed Miliband has instructed the National Energy System Operator to urgently investigate the incident. Heathrow airport has reopened following the fire, but airlines continue to face disruptions with cancelled flights and logistical challenges. National Grid, the owner of the substation, is also taking steps to improve network resilience. The cause of the fire is...
Read more