Can a global minimum tax survive Trump? July 30, 2025 As the G7 exempts the US from the global minimum tax – otherwise known as Pillar 2 – experts are asking when a global tax stops being global? Say Tim Sarson Last month I opened this column talking about an announcement from the German government about a proposal to cut their federal corporation tax rate. [...]
Trump’s AI push puts pressure on Starmer’s Action Plan July 29, 2025 Donald Trump has declared that the United States is going to “win the AI race”, leaving Britain to prove it can keep up. Speaking at the ‘winning AI race’ summit, the US president said: “America is the country that started the AI race. And as president of the United States, I’m here today to declare [...]
IMF upgrades world economy’s growth forecast as Trump’s tariffs reduced July 29, 2025 The world economy will not suffer as badly from President Trump’s tariffs as previously thought, the International Monetary Fund (IMF) has predicted. Global growth is set to be three per cent this year, the IMF said, which is higher than its previous 2.8 per cent forecast made in April. The world economy will grow by [...]
Donald Trump slams North Sea oil taxes that ‘make no sense’ July 29, 2025 US President Donald Trump has slammed the UK for its high taxes on North Sea oil, which he described as a “TREASURE CHEST” for the UK. In an early morning post on Truth Social, Trump said the UK could cash in its oil reserves near Scotland, where Trump opened a new 18-hole course at the [...]
Stellantis: Vauxhall owner warns of £1.3bn tariff hit after EU-US deal July 29, 2025 Stellantis will have to shoulder a €1.5bn (£1.3bn) hit from President Donald Trump’s swingeing tariffs on cars this year despite the trade deal struck between the European Union and United States earlier this week. The automaker, whose stable of marques includes Vauxhall and Fiat, confirmed in a half-year update that it had already incurred levies [...]
Trump hails relationship with Starmer – but no steel exemptions yet July 28, 2025 In a Scottish golfing holiday that has swiftly given way to a multi-sided international summit, Keir Starmer has held a bilateral meeting with Donald Trump which has spanned from the UK-US trading relationship to immigration policy and international conflicts. Business secretary Jonathan Reynolds had tempered expectations of immediate steel tariff progress ahead of the meeting, [...]
EU-US trade deal faces criticism from European leaders July 28, 2025 European leaders have poured scorn on the EU-US trade deal struck by President Donald Trump and European Commission chief Ursula von der Leyen over the weekend, with many viewing the agreement as a victory for Trump rather than their own countries. While the pact announced on Sunday has helped dodge a potential transatlantic trade war, [...]
Euro weakens as markets rally following EU-US trade deal July 28, 2025 The euro fell against the dollar in early morning trading, as currency markets focused on the risks to the European economy from the EU-US trade deal despite a positive reaction from global stock markets. The currency was down 0.5 per cent against the dollar at $1.169, wiping away gains made last week after Trump’s “big [...]
Trump secures ‘big win’ in EU trade deal after Brussels retreats July 28, 2025 President Donald Trump has achieved a “big win” after inking a trade agreement with the European Union following a months-long standoff between two of the world’s largest economic titans. The US President met with European Commission President Ursula von der Leyen in Scotland to continue trade discussions as part of his four-day private visit to [...]
Trump Scotland visit: Starmer to push for zero steel tariffs July 25, 2025 President Trump kicks off his golfing holiday in Scotland this evening, and all eyes are on his diary as the trip looks set to become a hub for diplomacy. Sir Keir Starmer will meet the US President on Monday, with the express mission of pressing for reduced tariffs on British steel. The two leaders are [...]