Downing Street has abandoned hope of landing a 0% tariff deal on British steel exports to the US. Instead, they’re briefing the FT that a whopping 25% tariff for UK steel exports provides “certainty“, and it is at least better than the 50% whacked on other countries. By Guido’s maths, 25% is still quite a bit higher than the 0% still promised on the gov.uk website…
That was supposed to be a ‘landmark deal’. Not so much. Gormless officials are still spinning that they’ll somehow achieve the elusive zero percent figure at some point. Wasn’t Starmer supposed to have won over Trump with all his brilliant schmoozing and diplomacy?
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”