6:50 am, May 9, 2025
Starmer says UK-US trade deal will save jobs in car and steel industries
A ‘historic’ UK-US trade deal will save thousands of jobs in the car and steel industries which have been threatened by Donald Trump’s tariffs, Sir Keir Starmer said.
The trade agreement was confirmed in a call between the Prime Minister and the US president which was broadcast live on both sides of the Atlantic.
US import taxes which had threatened to cripple British high-end carmakers were cut from 27.5% to 10%, while the 25% tariff on steel has also been removed entirely.
Bank of England cuts rates as governor welcomes UK-US trade deal
The Bank of England has cut interest rates to 4.25% after a slowdown in inflation, as the central Bank’s chief welcomed the UK-US trade deal.
Interest rates were cut from 4.5% to their lowest level since May 2023, in their fourth reduction over the past year.
The Bank said it reduced the rate – which helps to dictate mortgage rates – after a recent easing of inflation, while it also reduced its inflation forecast for the rest of 2025.
New Mercedes CLA will be priced from £45,615
Mercedes has revealed prices and specifications for the new CLA saloon.
There will be a choice of electric and hybrid powertrains with the former featuring an 85kWh battery pack and single electric motor that produces 268bhp, can do 0-60mph in 6.5 seconds and will reach a top speed of 130mph.
In terms of charging, Mercedes claims that the car can travel up to 484 miles between trips to the plug and that it will be compatible with 320kW DC rapid charging, allowing for 200 miles of range to be added in just 10 minutes.
The markets
The UK’s FTSE 100 has edged lower as the Bank of England cut interest rates, while US trading got off to a strong start following the announcement of a new UK-US trade agreement.
London’s top stock market index wavered slightly on a day that trade policy continued to be front and centre of attention. It lost 27.72 points, or 0.32%, to close at 8,531.61.
Investors were in positive spirits elsewhere in Europe. In Paris, the Cac 40 index gained 0.89%, and in Frankfurt, the Dax closed 1.09% higher.
Thursday on Car Dealer
Trump teases ‘comprehensive’ trade deal which could see UK vehicle tariffs slashed
Donald Trump is expected to announce a US-UK trade deal lowering tariffs on cars, steel, and aluminium. The agreement aims to resolve recent tensions in the automotive industry, with some critics urging parliamentary scrutiny to safeguard national interests and standards.
*Article published before deal was confirmed
‘Clear strategy’ and ’emotional designs’ are helping Renault to crack EV market – UK boss
Renault’s success in the UK EV market is driven by its clear strategy, with the Renault 5 becoming the top-selling electric model in April. The brand aims to expand its electric lineup, introducing the Renault 4 later this year to maintain growth in EV sales.
Tesla sales in two-year low despite demand for electric cars on the rise
Tesla experienced significant sales declines in the UK and Germany in April, with drops of 62% and 46%, respectively. The decline is attributed to the winding down of the Model Y, as well as Musk’s political activities. Despite rising EV demand, Tesla’s market share and sales have slumped.
Car finance market reports strongest rate of growth for more than three years
Car finance in the UK surged in March 2025, with a strong 11% increase in new business volumes compared to March 2024. The growth was driven by consumers bringing forward purchases before tax changes. Despite the boost, the outlook remains uncertain due to declining consumer confidence.
Dealer group Ron Brooks keeps it in the family with appointment of new chief commercial officer
Tom Slack has been appointed group chief commercial officer at Ron Brooks Motor Group, following in the footsteps of his family. He will oversee strategy, sales, marketing, and customer experience, reporting to his father, Kevin. The dealership group, founded over 60 years ago, is poised for continued growth.
New Pope Leo makes first public appearance to jubilant scenes in Rome
The first-ever American Pope has appeared in front of jubilant crowds in Rome as the new leader of the Catholic Church.
Pope Leo XIV emerged onto the balcony of St Peter’s Basilica as a packed St Peter’s Square erupted in cheers and applause.
He was Cardinal Robert Prevost, from Chicago, and is fairly young for a Pope, at the age of 69.
Archbishop calls for peace in Europe as King leads nation marking VE Day
The King heard calls for peace to return to Europe as he led the nation in commemorating servicemen and women whose efforts helped end the Second World War 80 years ago.
Stephen Cottrell, the Archbishop of York, voiced his concerns about the state of the continent during a service marking the 80th anniversary of VE Day, and warned that the ‘good’ resulting from the conflict to defeat Hitler’s regime was ‘under threat’.
The King and the Prince of Wales honoured the sacrifices of those who served in the Second World War by laying wreaths at the Grave of the Unknown Warrior at the start of the poignant Westminster Abbey service.
Weather outlook…
The UK will today experience pleasant spring weather.
Most regions can expect mostly sunny skies with temperatures ranging from 17°C to 19°C during the day and lows between 5°C and 9°C at night.
No significant rainfall is anticipated, making it an ideal day for outdoor activities.
