International Trade
-
What Trump’s US tariffs mean for UK business
US tariffs are reshaping the UK’s trading relationship with America. British businesses face a 10% baseline tariff on most exports, with new sector-specific quotas and compliance hurdles fundamentally altering access to the world’s largest market.
-
Europe’s 15% tariff era begins
A new transatlantic trade era begins with a 15% tariff. European business leaders face lasting uncertainty as the US and EU strike a high-stakes deal that averts a full trade war but cements tariffs at levels unseen in nearly a century.
-
EU and US near trade deal with tariffs
EU and US near trade deal with 15% tariffs. The European Union and the United States are finalising a trade agreement imposing 15% tariffs on most EU exports. Exemptions for aircraft and medical devices are under consideration, but key industries remain affected.
-
Europe warns China over trade gap at tense summit
China and the EU clashed on trade and minerals in Beijing. At a shortened one‑day summit, Ursula von der Leyen warned of an “inflection point” in EU–China ties, calling for “rebalancing,” while Xi Jinping urged Europe to make “correct strategic choices” as tariff tensions and minerals dependence took centre stage.
-
Trump strikes Japan trade deal to cut tariffs
Japan and the U.S. struck a surprise tariff accord today. The agreement trims incoming U.S. auto duties on Japanese vehicles to 15 %, down from a planned 25 % escalation, in exchange for a promised US $550 bn investment package aimed at bolstering U.S. supply chains.
-
Euro surge squeezes exporters as Q2 earnings loom
The euro has surged 13% this year, unsettling exporters across Europe. A 10% euro rise can trim corporate profits by as much as 3%. Market watchers warn that further gains may prompt action from the ECB as earnings season begins.
-
EU imposes toughest Russia energy curbs yet
The EU’s eighteenth sanctions package introduces a dynamic oil-price cap. The bloc’s latest measures target Russian oil revenue with a variable price ceiling, new import bans on third-country fuels, and an expanded blacklist of tankers and banks, as markets question the enforcement impact.
-
UK–India trade pact to cut tariffs and boost GDP
A major UK–India trade pact will be signed in London next week. The free-trade agreement slashes tariffs on whisky and cars, boosts UK GDP by £4.8 billion, and grants duty-free access for 99% of Indian exports.
-
ECB’s Nagel urges steady hand as tariff threat grows
The European Central Bank faces new uncertainty over U.S. trade. Bundesbank President Joachim Nagel urged “politics with a steady hand” as Trump’s sweeping tariff threat disrupts policy plans. Officials will now rerun growth forecasts ahead of the 23–24 July ECB meeting, with no immediate rate move expected.
-
Bulgaria cleared to join eurozone in January 2026
EU ministers have approved Bulgaria’s accession to the eurozone. The country will become the 21st member on 1 January 2026. Bulgaria’s conversion rate is fixed, and dual pricing will start in August as the government aims to ease consumer transition and address inflation concerns.