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UK automakers cheer US trade deal, as steel tariffs left in limbo
UK automakers cheer US trade deal, as steel tariffs left in limbo
Economy
by  AFP

Britain's auto sector on Tuesday welcomed news that the United States and UK have agreed to implement key parts of their tariff-cutting trade deal, as levies on steel remain. Tariffs of 25 percent on the UK steel industry remain however, despite a bilateral agreement in May to completely remove the levy for British aluminium.

US retail sales slip more than expected after rush to beat tariffs
US retail sales slip more than expected after rush to beat tariffs
Economy
by  AFP

US retail sales declined more than expected in May, government data showed Tuesday, dragged by a slowdown in auto sales as consumers pulled back after hurrying to get ahead of President Donald Trump's sweeping tariffs. Economists expect it will take a few months for the effects of new tariffs to show up in consumer costs -- and all eyes are on economic data during the summer.