Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
U.S. Repatriation Flight Carrying 266 Venezuelan Migrants Lands in Caracas 
Trump Claims He Will Void Biden Documents Signed with Autopen 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China’s Expanding Maritime Military Presence Alarms Taiwan and Japan 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Australia and Japan Strengthen Defence Cooperation Amid Rising Regional Tensions 
New Orleans Immigration Crackdown Sparks Fear as Federal Arrests Intensify 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Trump Administration Tightens H-1B Visa Vetting With New Focus on Free Speech and Censorship 
U.S. Justice Department Orders Intensified Probe Into Antifa and Domestic Extremist Groups 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
UN General Assembly Demands Russia Return Ukrainian Children Amid Ongoing Conflict 
A new trade agreement between the United States and the United Kingdom took effect Monday, significantly reducing tariffs on British car exports and eliminating duties on aerospace components. The deal marks a major step forward in strengthening economic ties between the two allies amid broader global trade realignments.
Under the agreement, British automakers can now export up to 100,000 vehicles annually to the U.S. under a lowered tariff of 10%, down sharply from the previous 27.5%. Additionally, tariffs on aircraft engines and parts have been completely removed, providing a major boost for the UK’s aerospace industry.
The trade pact is expected to revitalize British exports in both the automotive and aerospace sectors, improving competitiveness in the U.S. market and offering cost savings for American buyers. Industry analysts say the changes could inject new momentum into transatlantic trade while enhancing supply chain resilience.
However, key issues remain unresolved. The temporary U.S. exemption on steep 50% tariffs for UK steel exports is set to expire on July 9. If a new agreement isn’t reached, British steelmakers could once again face punitive duties, threatening jobs and export volume in the sector.
While the automotive and aerospace sectors stand to gain significantly, the looming steel tariff deadline adds pressure for further negotiations. Trade officials from both countries are expected to continue discussions to address the remaining friction points and potentially reach a comprehensive resolution.
The latest agreement follows renewed efforts by both governments to reduce trade barriers and foster deeper economic cooperation. For UK manufacturers, especially in the automotive and aerospace industries, the tariff cuts offer a timely competitive edge amid global economic uncertainty.
