Browsing: US tariffs

Spring Statement 2025 reaction – Global trade war – Economic growth slashed in half

News Briefing

Spring Statement 2025 reaction – Thursday’s headlines are reacting to yesterday’s Spring Statement delivered by the chancellor. 

Chancellor Rachel Reeves announced significant measures to address the UK’s economic challenges. Key points include a £14 billion plan involving cuts to welfare payments (£4.8 billion) and departmental spending (£3.6 billion) to fix public finances. The Office for Budget Responsibility (OBR) has halved the 2025 economic growth forecast to 1%, down from 2%. Despite these austerity measures, the tax burden is projected to reach a record 37.7% of the GDP by 2027-28. Additionally, a £3.25 billion Transformation Fund was introduced to drive efficiencies across government departments.

Following the chancellor’s update on the economy, Donald Trump announced new import taxes of 25% on cars and car parts coming into America in a move that threatened to widen the global trade war.

Kyle Clifford sentenced & Ukraine agrees ceasefire – Paper Talk UK

News Briefing

Two stories dominate Wednesday’s front pages: the latest from Ukraine and the sentencing of Kyle Clifford.

Many of the tabloids choose to focus on Clifford, who was handed three life sentences with whole orders for the murder of his ex-partner, her sister and her mother. He was also found guilty of raping his ex-partner. The sentence means he’ll never be released from prison. The women were the wives and daughters of BBC horse racing commentator John Hunt, whose victim impact statement is quoted in many headlines this morning.

Manchester United’s new £2bn stadium is discussed on the front and back pages, as is Liverpool’s exit from the Champions League.

On the international front, a Ukraine- Russia ceasefire is on the table, awaiting Russia’s agreement, after peace talks involving the US in Saudi Arabia.

Trump’s ongoing tariff war with Canada also makes the front pages after he announced a 50% tariff on Canadian steel and aluminium. Trump’s announcements, which he’s since backtracked on, saw metal prices rise and the stock markets fall.