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Rolling coverage of the latest economic and financial news
Rachel Reeves will fly to Washington this week to argue for global free trade in the face of Donald Trump’s punitive tariffs, amid continued international economic turbulence.
The UK chancellor will use the spring meetings of the International Monetary Fund, which is attended by top finance ministers and central bankers, to make the case that free trade is in both British and global interests.
“We’re facing a new economic reality, but we’re a heavily trading country, with the value of our exports the equivalent of 60% of GDP, so it’s always in our own interests to promote free trade.”
US sets tariffs of up to 3,521% on South East Asia solar panels
Several Chinese solar companies with factories across the region could face steep new tariffs.
Travel body accuses government of ‘sabotaging’ UK tourism industry
WTTC says 5.3% decline in tourist spend suggests policies such as increased air passenger duty have had impact
The government has been accused of “sabotaging” the UK’s tourism industry, after figures showed international visitors spent more than £2bn less last year than they did before the pandemic.
The World Travel and Tourism Council (WTTC) – which found in a new study that people visiting the UK spent £40.3bn in 2024, down 5.3% on 2019 – said that the government has made “deliberate policy choices” that had created “barriers to travel”.
FTC sues Uber over ‘deceptive’ subscription service
The US regulator’s legal action is the latest move against Big Tech under Donald Trump