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The UK is grappling with a 10% tariff imposed by the US on its goods, following failed negotiations for exemptions. Prime Minister Keir Starmer acknowledges the likelihood of these tariffs persisting, prompting a shift in focus towards securing trade deals with other nations, particularly India, to mitigate economic impacts.
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UPS has announced significant job cuts and facility closures due to economic uncertainty and the impact of tariffs. The company aims to save $3.5 billion this year while reducing its reliance on less profitable Amazon deliveries. This follows President Trump's tariff policies affecting trade dynamics.
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International Airlines Group (IAG) has confirmed a $13 billion order for 32 Boeing 787-10 aircraft and 21 Airbus A330-900neo planes. This announcement follows a recent trade agreement between the UK and US that exempts British plane parts from US tariffs, signaling a positive shift for the aerospace sector.
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On May 15, 2025, Qatar Airways announced a historic order for 160 Boeing aircraft, including 130 787 Dreamliners and 30 777-9 jets, valued at $96 billion. This deal, signed during President Trump's visit to Qatar, marks Boeing's largest wide-body aircraft order and strengthens ties between the U.S. and Qatar.
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The UK government has announced a £14.2 billion investment to build the Sizewell C nuclear power plant in Suffolk, expected to generate electricity for six million homes. Energy Secretary Ed Miliband emphasized the need for new nuclear capacity to enhance energy security and reduce reliance on fossil fuels. However, concerns about costs and environmental impact persist.
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On June 16, 2025, UK Prime Minister Keir Starmer and US President Donald Trump signed a trade agreement at the G7 summit. While the deal reduces tariffs on British cars and aerospace products, 25% tariffs on steel remain, raising concerns for the UK steel industry. The agreement aims to strengthen economic ties but leaves key issues unresolved.