Thursday, May 21Thursday, May 21The UK has finalized a £3.7 billion trade deal with six Gulf states, doubling initial estimates and marking a significant expansion for British exporters, particularly in food, luxury cars, defense, aerospace, and hospitality. The agreement, concluded under Keir Starmer’s leadership, ends four years of negotiations and is expected to boost the UK economy annually in the long term .
The EU has reached a provisional trade agreement with the U.S. to remove certain import tariffs, aiming to avert a threatened increase in tariffs on European cars by Donald Trump. The deal, known as the *Turnberry Agreement*, was approved by EU lawmakers and member states, with safeguards included to suspend the agreement if the U.S. violates its terms. EU trade chief Bernd Lange described it as Europe’s best defense against Trump-era trade disruptions but warned of potential White House unpredictability. The agreement still requires final approval by the European Parliament .
The U.S. and China are reportedly nearing an agreement to reduce tariffs on tens of billions of dollars’ worth of goods after over a year of escalating trade tensions. However, analysts caution that the economic impact of these cuts may be limited .
UK strikes £3.7bn trade deal with six Gulf states Keir Starmer described the agreement, worth double original estimates, as a huge win for British businessesKeir Starmer has struck a trade deal with six Gulf states in what he described as a huge win for British business, ending four years of talks led by four different prime ministers.The deal will offer £3.7bn worth of opportunities for exporters – double original estimates – particularly in the food and luxury car sectors but also defence, aerospace, hospitality and other services, the government said. Continue reading...
theguardian · about 9 hours ago
Samsung Management, Union Reach Tentative Deal, Averting Strike The union said it will suspend its May 21-June 7 strike until further notice, as union members will vote on the tentative deal on May 23 through May 28.
wsj · about 10 hours ago
EU negotiators strengthen ability to suspend EU-US tariff deal if Trump reneges on agreement
gdeltproject.org · about 10 hours ago
UK confirms Gulf trade deal in boost for service industries Government estimates that agreement could boost economy by up to £3.7bn a year in long run
financial times · about 10 hours ago
EU: agreement on tariffs brings together the Peoples Party, Socialists, Liberals and Conservatives The inter-institutional agreement reached by the European Parliament and the Council has been welcomed by the EPP, S&D, RE and ECR groups. The Greens are sceptical, while The Left and PfE are opposed.
eunews.it · about 10 hours ago
Swiss farmers set for extra support after trade concessions Swiss agriculture is set to receive more support to offset concessions made in international trade deals. + Get the most important news from Switzerland in your inbox Following farmers concerns over the Mercosur trade deal with Latin American countries, the Swiss government said on Wednesday it would ease access to interest-free loans to encourage investment in infrastructure. In Switzerlands trade talks with other countries, the farming sector often has to make concessions. To stay competitive, the sector must adapt its production to shifting market conditions. In a press release, the Federal Council, Switzerlands executive body, said it plans to support the sector through targeted, time-limited measures. These include additional funding for investment loans. + Are EU inspectors headed for Swiss farms? Funding for interest-free loans will be increased by a total of CHF150 million ($190 million) between 2028 and 2031. In addition, export support schemes will receive CHF1 million ...
swissinfo · about 10 hours ago
EU Moves Closer to US Trade Deal to Avoid Trump Tariff Hike
gdeltproject.org · about 12 hours ago
EU approves trade deal with Washington and sets safeguards The European Parliament and the 27 member states reached an agreement on Wednesday, May 20, which they hope will prevent an escalation with Donald Trump. Most American imports will not be subject to tariffs.
le monde · about 12 hours ago
We have other countermeasures ready if US disrespects EU trade deal, says top negotiator Lange EU lawmakers approved the controversial Turnberry Agreement after Donald Trump threatened steep tariffs on European cars. EU trade chief Bernd Lange called it Europes best shield against Trump-era trade shocks, while warning the bloc remains vulnerable to sudden White House moves.
euronews · about 12 hours ago
After over a year of tit-for-tat, the US and China could slash sky-high tariffs After more than a year of escalating trade tensions, Beijing and Washington say they are ready to cut tariffs on tens of billions of dollars worth of goods — but analysts warn the impact on growth may be limited.
euronews · about 12 hours ago
EU Reaches Agreement to Move Forward on U.S. Trade Deal Negotiators reached a provisional deal to remove some import tariffs ahead of a deadline set by Trump that would ramp up tariffs on cars.
wsj · about 15 hours ago
EU leaders hope Trump trade truce will hold The agreement still faces a final vote in the European Parliament next month.
politico.eu · about 15 hours ago