EUR News
LAST UPDATE: July 25, 2025
Keir Starmer to press Donald Trump over deal to cut tariffs on UK steel imports
UK Prime Minister Keir Starmer plans to urge U.S. President Trump to accelerate finalizing a deal to reduce tariffs on British steel, and to address related issues such as whisky and pharmaceuticals.
Insight
By prioritizing steel tariff relief—an unresolved issue in the broader U.S.–UK trade agreement—Starmer aims to support critical British industries and reinforce bilateral ties.
UK sunshine warmed up retail sales in June, ONS says
Retail sales volumes rose by 0.9% in June, recovering from a sharp 2.8% decline in May. Warm weather boosted sales of drinks, clothing, and fuel—but growth fell short of forecasts.
Insight
The rebound underscores weather’s impact on consumer behavior. However, ongoing inflation at 3.6%, weak consumer confidence, and sluggish quarterly growth suggest households remain under stress.
ECB survey sees lower inflation, 2% over the longer term
The ECB’s Survey of Professional Forecasters projects euro‑zone inflation averaging 2% in 2025 and slowing to 1.8% in 2026, before stabilizing at the 2% target through 2030.
Insight
The outlook supports policymakers choosing to hold rates steady. Economic resilience and stable labor conditions reduce urgency for further cuts despite trade uncertainty.
