US and Britain announce trade deal - But countries continue negotiations on steel imports
White House President Donald Trump and British Prime Minister Keir Starmer announced the signing of a trade agreement that will reduce tariffs on imports of automotive and aerospace products into the United Kingdom.
However, Trump and Starmer noted that negotiations are still ongoing for the steel manufacturing sector.
Trump insists the deal with the UK is "fair for both countries," adding that he expects it to produce a lot of jobs and income. Starmer struck a similar tone to Trump as he addressed reporters, calling the deal a sign of strength and a "very good day" for both countries.
Reaching a deal is important as Trump has threatened much of the world with significant import tariffs, which have caused market volatility and increased the risk of a global trade war.
Although he has backed away from some of the suggested taxes, he has indicated that his administration officials are committed to new trade agreements with many countries, despite the fact that few of them have achieved results.
The agreement follows leaders' announcement in May of a framework for a trade pact that would significantly reduce US import tariffs on British cars, steel and aluminium in exchange for expanded access to the British market for US goods such as beef and ethanol.
However, the recently reached agreement deals exclusively with British aerospace machinery and materials, while further negotiations are required on steel.
London says the new deal would give British firms like Rolls Royce a big boost, benefiting from an exemption from the 10% tariffs initially imposed.
"453 billion lek circulated in Albania in May" - Central Bank figures: Growth has been stable
The ratio between money in circulation and money outside banks continues to deepen. According to the latest data from the Central Bank, 453 billion lek, or......
Loans for pensioners are "released" - Agreement between three institutions, collateral is the properties they own
Pensioners will be given the green light to access credit. The 2025-2030 aging plan document, approved by the government, states that an analysis of the......
Albania, between a "booming" China and a "fading" Italy/ Exports increase in May. Meanwhile, the trade deficit narrows
In May 2025, Albanian exports returned to a positive trend, reaching 35 billion lek, with a modest increase of 1.2% compared to May of last year and 6%......
Access to the “Festival Pole”, Korça is facilitated - 124.7 million lek for road infrastructure and lighting
The Albanian Development Fund has opened the tender for the improvement of local and urban transport with interventions in roads and sidewalks, lot 6 for the......
WhatsApp will soon display ads – Why could this cause negative reactions in Europe?
WhatsApp will now start showing ads on the popular messaging app after years of offering the service for free without any strings attached. WhatsApp said......
Ibrahimaj: We are advancing projects with the EBRD to strengthen business and startups
Strengthening Albanian business and startups was the focus of the meeting held by the Minister of State for Entrepreneurship and Business Climate, Delina......
Trump leaves G7 summit due to intensifying Israel-Iran conflict
US President Donald Trump left the Group of Seven summit, which was being held in a resort town in the Canadian Rockies, due to the escalating conflict......
Exchange rate/ Dollar and Pound recover!
The US dollar has registered a slight increase in value this morning compared to the continuous decline that has accompanied it throughout this period, being......
