Trade Talks and Tariffs: A Global Shift

The Financial Times reports on British Steel's plans to idle a blast furnace, Keir Starmer's focus on reducing US tariffs on UK cars, UK's trade talks with India, and Prada's reduced offer for Versace due to US tariffs. These developments highlight the global impact of US trade policies.

British Steel is preparing to idle one of its two blast furnaces to preserve essential raw materials as critical negotiations with UK ministers continue. This decision highlights the urgency brought on by ongoing economic challenges faced by the industry.

British Prime Minister Keir Starmer has shifted his attention toward reducing the 25% tariffs imposed by the US on British cars. Despite uncertainty on persuading President Donald Trump, Starmer's efforts indicate a shift in trade diplomacy strategies.

A rush for a trade deal between the UK and India has emerged due to the diplomatic strains from President Trump's trade policies. Similarly, Italian fashion brand Prada has renegotiated the purchase price of Versace by $200 million, reflecting the broader implications of the trade war.

(With inputs from agencies.)