EU hits back at US with €26bn in retaliatory tariffs March 12, 2025 The EU has announced retaliatory “countermeasures” on €26bn worth of US goods, as the global trade war sparked by Trump’s package of tariffs continues to rage. Early on Wednesday, European Commission President Ursula von der Leyen announced that there will be a two-stage process to implement the tariffs, first allowing current measures to lapse before [...]
4imprint reports uptick in profit but warns on ‘challenging near-term environment’ March 12, 2025 Promotional products manufacturer 4imprint has reported a 10 per cent jump in profit for 2024, outperforming the broader market and expanding its market share. The company told markets this morning that revenue rose three per cent year on year to £1.36bn, up from £1.32bn last year. The London-based firm said it received 2.12m orders in 2024, [...]
Steel tariffs ‘couldn’t come at a worse time’ for UK industry March 12, 2025 UK industry heavyweights have branded Donald Trump’s tariffs on steel and aluminium imports a “difficult day for transatlantic trade” that will put “considerable pressure” on the UK’s metals sector. Tariffs on the two widely-used commodities came into force on Wednesday morning, meaning all UK steel and aluminium exports to the US will now be subject [...]
Trump turbulence endangering global ‘soft landing’, BIS warns March 11, 2025 The economic convulsions wrought by Donald Trump’s volatile tariff announcements and swingeing public sector job cuts are threatening hopes of a soft landing after years of inflation, the Bank of International Settlements (BIS) has said. The BIS, known widely as the ‘central bank of central banks’, warned in its latest global report that while it [...]
Markets reeling after Trump sparks recession fears March 10, 2025 Global markets took a hit on Monday as analysts warned of a bleak economic outlook after President Donald Trump refused to dismiss recession fears. When asked whether the world’s largest economy was heading toward recession, Trump responded that a “period of transition” was taking place. “I hate to predict things like that. There is a [...]
Ex-Bank of England governor Mark Carney named next Canadian PM March 10, 2025 Former Bank of England governor Mark Carney has been named the next Canadian prime minister after winning his party leadership vote in a landslide. Carney won 85.9 per cent of the vote in the Liberal Party leadership contest and will succeed Justin Trudeau, who has been in office for nine years. He served as the [...]
UK growth outlook slashed amid tax and trade ‘double whammy’ March 5, 2025 The Chancellor’s growth agenda was dealt a fresh blow on Thursday after the British Chambers of Commerce slashed its forecast for the UK economy due to the tax and trade “double whammy” afflicting UK businesses. The business group now expects the UK economy to grow by just 0.9 per cent in 2025, a hefty downgrade [...]
Trump ‘just getting started’ as tariffs take hold March 5, 2025 In a major joint address to Congress Monday night, a defiant President Trump declared that he is “just getting started” as the backlash to the new Administration’s tariffs against Canada and Mexico intensifies. Trump gave this major speech on the day that he delivered a key campaign pledge, to impose sweeping taxes on the US’s [...]
Canada and Mexico tariffs: No10 stresses ‘balanced’ trade relationship with US March 4, 2025 The UK has a “strong, fair, balanced and reciprocal trading relationship” with the United States, No10 has stressed, as US tariffs came into force against Canada and Mexico. President Trump’s tariffs on goods from Canada and Mexico took effect on Tuesday, with global markets put on edge and retaliations planned by the two countries – [...]
Trump-Starmer: UK may dodge tariffs as work to begin on new US trade deal February 27, 2025 The UK could be set to dodge US tariffs with work to begin on a new US-UK trade deal, it was revealed during Sir Keir Starmer’s visit to US President Donald Trump. The Prime Minister flew to the States yesterday for a highly anticipated first meeting with President Trump since he reentered the White House [...]