China’s Vice Foreign Minister, Hua Chunying, has boosted that the country has full confidence in its ability to manage trade issues with the United States of America. While speaking with the press, he said, “We have no fear,” adding that the trade policy of the U.S. administration can not be sustained. Recall that officials from both sides are set to meet in Switzerland to discuss the tariffs they have imposed on each other. The weekend talks involving the top U.S. and Chinese economic and trade officials are widely seen as a first step towards resolving a trade war that has…
Author: Fatimah Idera
Britain’s King Charles has called for the commitment of the world to seek lasting peace and preventing warfare. He made the call in a speech to mark the end of four days of commemorations for the 80th anniversary of Victory in Europe Day at a sombre thanksgiving service at Westminster Abbey, where he and other senior royals joined 10,000 guests, including veterans for a music concert at Horse Guards Parade near Buckingham Palace. The gathering marked a part of events to remember Nazi Germany’s unconditional surrender, which took effect on May 8, 1945. The anniversary, which comes at a time…
Donald Trump is said to slash US tariffs on Range Rovers and other UK-made cars to 10pc as part of a trade deal that also drops levies on American beef. The UK and the US will also remove taxes on up to 13,000 metric tonnes of beef imports and exports per year as Britain won’t allow imports of hormone-treated beef under the agreement. Steel tariffs of 25pc will also be scrapped and subjected to a quota. Recall that Trump announced new 25pc tariffs on foreign-made cars and car parts imported into the US in March, and UK negotiators have made…
Microsoft co-founder Bill Gates has pledged to donate nearly all of his wealth by 2045, totalling $200bn, to enhance the lives of the world’s poorest people. The donation of the billionaire followed Elon Musk’s support for sharp U.S. foreign aid cuts. Bill slammed Musk, a key figure in President Donald Trump’s administration and accused him of “killing the world’s poorest children” with huge cuts to the United States’ aid budget. He added that his foundation would share the massive sum over the next two decades, as part of his plan to “give away virtually all his wealth, hinting that the…
The United States and Britain will announce a deal to lower tariffs on some goods on Thursday, the first such agreement since U.S. President Donald Trump sparked a global trade war with universal levies. In his posts on Truth Social, Trump said he would hold an Oval Office news conference about a full and comprehensive trade agreement with Britain. Prime Minister Keir Starmer, who describes the U.S. as an indispensable ally, is due to provide an update later on Thursday. The deal is likely to be narrow, with Britain securing lower tariffs on cars and steel, the two sectors hardest…
Following reports of a potential trade deal between the US and UK, the pound has remained steady against the dollar while UK mid-cap shares rallied as it coincides with the Bank of England’s expected interest rate decision that is likely to result in a quarter-point cut. Sterling rose as much as 0.5% against the dollar after the New York Times reported the possible trade deal before trimming gains to trade flat on the day at $1.3288. Britain’s Prime Minister Keir Starmer will provide an update later on Thursday on trade talks with the United States, a spokesperson for his office…
U.S. President Donald Trump, announced it aims to protect one of its biggest creative industries by having active discussions with top U.S. officials over the 100% tariff on all movies produced outside the country. “We are already in active discussions with the top of the U.S. administration on this subject. We are working hard to establish what might be proposed, if anything, and to make sure our world-beating creative industries are protected,” creative industries minister Chris Bryant told parliament on Wednesday. Bryant noted that Trump had not given any details about his proposal, adding that it was not clear how…
Britain’s Trade Minister has defended a contentious tax break for some Indian workers agreed as part of a landmark free trade agreement with India, saying the idea that he had undercut British workers was absolute nonsense. The trade deal, which includes a range of tariff cuts on British imports to India, also exempts some short-term workers from India from paying into Britain’s social security system for three years. The exemption under the so-called Double Contributions Convention also applies to British workers in India, but while Britain barely made mention of this element of the trade deal, India hailed it as…
Ed Miliband has called for a massive expansion of solar power through the untapped potential of Britain’s car parks. The Energy Secretary while seeking views on how to spur the construction of solar panel canopies above parking spaces at supermarkets, offices and shopping villages. The idea is viewed as a win-win because it would make better use of sprawling car parks while also generating more green electricity, potentially lowering bills for businesses. Motorists would also benefit from more shaded parking spots and potentially a larger number of electric car charging stations, which could be powered directly by the panels, the…
President Donald Trump said Moscow and Kyiv want to settle the war in Ukraine and that Russian President Vladimir Putin was more inclined towards peace after the recent fall in the price of oil. “I think Russia, with the price of oil right now, oil has gone down, we are in a good position to settle, they want to settle. Ukraine wants to settle,” Trump said on Monday. The price of oil, which drives the Russian economy, has fallen around $15 a barrel since the start of the year. OPEC+ will accelerate oil output hikes. “We’ve come a long way,…
