Tariffs, Blackouts and Copper Chaos

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Trump Slaps 25% Tariff on Cars

Trump’s latest trade bombshell: a 25% tariff on all imported cars and parts, with broader reciprocal tariffs landing on April 2nd – which he’s branding “Liberation Day.” US trading partners, such as the EU and Japan, have indicated potential reciprocal tariffs if Trump goes ahead with the 25 per cent levy.

Off the back of this, Hyundai decided it’s going big in the US. The South Korean giant plans to invest $21bn in a new steel plant in Louisiana and a web of suppliers to feed it. Trump hailed the move as proof his tariff policies are “working,” with money “pouring in.” But Hyundai already has deep roots in the US – this may be more about future-proofing itself against incoming tariffs than a sudden patriotic pivot.

Reeves' Tough Balancing Act

Rachel Reeves, the UK’s Chancellor, gave her Spring Statement – a mini-budget of sorts – under the weight of gloomy economic forecasts. With growth now expected to limp along at just 1% this year, and government borrowing still sky-high, Reeves announced tighter rules for disability benefits to rein in spending. There were no tax hikes, but she did boost defence spending. Inflation is now predicted to hit 3.2% in 2025, up from 2.6%. The statement signals a political gamble: cutting benefits without cutting taxes, all while trying to look fiscally disciplined ahead of a general election.

Troubling Times for Orange Juice