Donald Trump has backed down on his tariffs (higher than the baseline 10%) on countries that did not retaliate against the levies. The US president announced via social media that there would be a 90-day pause on those tariffs and they would instead be dropped to the blanket 10% rate. But since China did retaliate, Trump announced that the tariffs on China would be hiked to 125%.

Much of the global media sees the announcement of Trump backing down from the trade war he started, likely amid US government bond sell-offs.

King Charles and Camilla are in Italy for a state visit, meeting with politicians and the pope and delivering a historic speech to both houses of the Italian parliament. The UK media is suggesting it is an exercise in Britain’s soft powers and that the royals are being used to help reset the UK’s relationship with the rest of Europe following the fraught and turbulent times of the Brexit era.

The state visit also coincides with the pair’s 20th wedding anniversary, and several of the royal-supporting news media offer insights into the couple’s marriage – the ups and downs and how they finally got together. There is also commentary on the King’s relationship with his youngest son, who is back in Britain for a court case regarding his personal security. The pair reportedly did not meet before Charles headed to Italy.

Thursday’s UK headlines, like much of the rest of the world, are, of course, dominated by the latest from the escalating trade war between the United States and the rest of the world. Trump announced a 90-day pause on the highest tariffs, dropping them all down to 10% except for China, which was hit with 125% levies. The stock markets have bounced back since the announcement, but the ball is very much back in China’s court, and all eyes are on Beijing to see how it responds. Everything that is coming out of China at the moment suggests they won’t back down and believe they can ride this out. 

A little closer to home, there are a handful of royal headlines, including King Charles’s state visit to Italy, which is being viewed as Britain exercising the royal family’s soft powers to help reset Britain’s relationship with the rest of Europe, nine years on from the Brexit mess. Charles and Camilla met with politicians and the Pope during their visit.

Joseph Kent, chief of staff to the Director of National Intelligence, stated that intelligence is investigating potential FBI involvement in the January 6 riots during a Senate intelligence committee hearing.

Keir Starmer is leading a “coalition of the willing” that pledges military support for Ukraine amid a shifting geopolitical landscape, reflecting a strategic comeback for the UK in European affairs since Brexit.

The UK government is considering nationalising British Steel as concerns grow over the Scunthorpe plant’s future after Jingye cancelled vital orders for raw materials.