Trump pauses US tariffs as British Steel crunch talks continue and Universal theme park brings 'jobs and joy'

The UK government will continue negotiating with the US, after Donald Trump announced a 90-day tariff pause for most nations.

The US president is delaying tariffs for most countries for 90 days, but has raised his tax rate on Chinese imports to 125 per cent. China has responded by raising their general tariff on US goods to 84 per cent.

The precise details of what will happen after the pause are not immediately clear, but the US treasury said Mr Trump will probably keep his 10 per cent baseline tariffs in place.

Stock markets responded positively to the 90-day pause, after days of unsettled trading. Trump has denied making a U-turn.

British Steel future latest

Talks are continuing to secure the future of British Steel and prevent heavy job losses. The Chinese owner of the Scunthorpe-based business plans to close the blast furnaces, and switch to a greener form of production. UK government officials met with the chief executives of Jingye and British Steel on Wednesday for discussions on steelmaking in Scunthorpe. Both sides welcomed continued cooperation.

Why Tesco profits will fall this year

Tesco has forecast lower profit this year, as a price war among the UK’s major supermarkets heats up. The grocery giant expects to see adjusted operating profit of between £2.7 and £3.0 billion. That's compared to £3.1 billion in the most recent financial year.

Housing market ‘subdued’

Surveyors say the housing market was subdued towards the end of March. The news follows an initial rush to beat the stamp duty deadline at the end of last month. The Royal Institution of Chartered Surveyors (Rics) says its feedback from professionals points to house prices flattening out in recent months.

Universal Theme Park ‘jobs and joy’

And Sir Keir Starmer said yesterday the Universal theme park deal will bring jobs and joy. He called it a win for growth and Britain’s global appeal. The theme park is said to bring nearly 20,000 jobs during the construction period, with a further 8,000 new jobs across the hospitality and creative industries when it opens in 2031.

His comments came amid fresh market turmoil over Trump’s tariffs, but that may now subside due to the pause.