The US president said that he would talk to his Russian counterpart on Tuesday, after negotiators have pushed for Russia to back a US-Ukraine ceasefire proposal.
US President Donald Trump announced he would discuss ending the war in Ukraine with his Russian counterpart Vladimir Putin on Tuesday.
“A lot of work’s been done over the weekend. We want to see if we can bring that war to an end,” Trump said late Sunday evening. “I think we have a good chance,” he added.
Trump is trying to secure Russia’s support for an interim 30-day ceasefire and halt in fighting, which Ukraine accepted last week.
“We will be talking about land. We will be talking about power plants,” Trump said, adding that negotiators had already discussed “dividing up certain assets.”
His comments come as special envoy Steve Witkoff told CNN that Trump and Putin were expected to speak this week. Witkoff, who recently visited Moscow to move negotiations forward, said that discussions with Putin had been “positive” and “solutions-based”.
He sidestepped questions on several more difficult aspects of the ceasefire proposal, such as whether Putin would demand the surrender of Ukrainian forces in Kursk, a halt to Ukraine’s military aid, and the recognition of Ukrainian territory occupied by Moscow forces as Russian.
Last Thursday, Putin said he supported a truce but listed several questions that he said still had to be discussed, including the status of Ukrainian troops in the western Russian region of Kursk.
Among other things, Moscow has said it would not accept the deployment of European peacekeeping forces in Ukraine — an idea proposed by France and the UK.
French President Emmanuel Macron on Saturday suggested in comments in several newspapers that Russia’s acceptance of such troops — which he described as contingents of soldiers — was not needed as Ukraine was a sovereign state.
“If Ukraine requests allied forces to be on its territory, it is not up to Russia to accept or reject them,” Macron is quoted as saying.
On Sunday, US Secretary of State Marco Rubio called his Russian counterpart, Sergey Lavrov, to discuss “next steps” following meetings in Saudi Arabia.
Both agreed to “working towards restoring communication between the United States and Russia,” a handout from the US State Department read, without mentioning the ceasefire proposal.
For his part, Ukraine’s President Volodymyr Zelenskyy has accused Putin of “deliberately” dragging out the ceasefire proposal to complicate the process and prolong the war.
UK Prime Minister Keir Starmer echoed Zelenskyy’s criticism after hosting a virtual summit on Ukraine on Saturday, where he called Russia’s response “not good enough”.
The US-backed ceasefire proposal accepted by Ukraine following talks in Saudi Arabia called for a temporary halt in fighting, including in the Black Sea and across the frontline.
Diplomatic efforts to secure a ceasefire deal come as Russia and Ukraine traded drone fire over the weekend and into Monday morning, according to officials from both countries.
On Sunday, Ukraine’s General Staff confirmed the withdrawal of Ukrainian troops from the logistics hub of Sudzha in the Kursk region, days after Moscow claimed it had captured the area where Ukraine launched a surprise incursion last year.
Introduction: Reeves to meet regulators in drive to cut red tape
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The UK government has the regulators in its sights as it tries to squeeze more growth out of the economy.
Chancellor RachelReeves is to meet with representatives from financial, environmental and health regulators today, in a push to cut bureaucracy and lower the cost of regulation for business.
She’s expected to unveil an “action plan” to cut red tape by reducing the number of bodies which oversee sectors of the economy that are crucial to boosting growth.
Speaking ahead of the meeting, the chancellor says:
“Today we are taking further action to free businesses from the shackles of regulation.
“By cutting red tape and creating a more effective system, we will boost investment, create jobs and put more money into working people’s pockets.”
The meeting will be attended by the Financial Conduct Authority, Prudential Regulation Authority, the Environment Agency, Natural England, the medicines regulator and the Information Commissioners’ Office.
Between them, these regulators look to protect consumers, businesses, patients and the environment – but ministers seem determined to prevent them clogging up the economy.
On the environmental side, the government hopes to stop infrastructure projects being delayed by protection demands – an issue highlighted recently by the £100m bat shelter built for the HS2 trainline.
The Treasury also plan to slim down the legal duties of regulators, such as those in financial services, energy watchdog Ofgem and water regulator Ofwat, “so that they do not waste time satisfying redundant duties”.
Rain Newton-Smith, chief executive of the ConfederationofBritishIndustry, said the UK’s “Gordian knot of regulations” hindered investment with compliance costs that were too high “leaving us trailing the international competition”.
She said:
“Today’s announcement signals a shift towards a more proportionate, outcomes-based approach that should deliver more sustainable growth and investment.”
Qinetiq told shareholders this morning that it has continued to experience “tough near-term trading conditions”, which have hurt its work in our UK Intelligence and US Sectors.
Qinetiq now expects organic revenue growth of 2% this financial year, down from the “high single digit organic revenue growth” it was predicting back in January.
It is taking a goodwill impairment charge of £140m, as well as a non-cash charge of up to £40m due to US operations, “predominantly in our legacy US operations”.
Qinetiq are the top faller on the FTSE 250 share index, down 21%. Other UK defence companies are in the red too, with BAESystems down 0.5%, and Babcock down 0.3%.
There have been high hopes that the pledge from European nations to swell military budgets amid heightened geopolitical tensions would translate into a flurry of new contracts.
n
But as alliances shape shift, the uncertainty has been more of a curse than a blessing. Qinetiq has been best with contract delays, not just for its US arm, but also its UK intelligence business. It’s undergoing a re-evaluation and restructuring of its US business to help revive growth.
n
Lay-offs at the US defense department may exacerbate its current problems, given that its short-term contracts in the US which appear to have already been hit hard. It seems spending decisions are being delayed amid the uncertainty.
n
“,”elementId”:”11226ce3-d8cf-4c0a-a164-f4ae2daab3c3″}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742200468000,”blockCreatedOnDisplay”:”04.34 EDT”,”blockLastUpdated”:1742202546000,”blockLastUpdatedDisplay”:”05.09 EDT”,”blockFirstPublished”:1742202528000,”blockFirstPublishedDisplay”:”05.08 EDT”,”blockFirstPublishedDisplayNoTimezone”:”05.08″,”title”:”UK defence company Qinetiq hit by “geopolitical uncertainty””,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”},{“id”:”67d7d9c58f088880f385ba4b”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Rachel Reeves is expected to defang Britain’s competition regulator, restricting its powers to investigate mergers.
According to the Financial Times, the chancellor will say she plans to update the two main tests that determine whether the CompetitionandMarketsAuthority should probe a merger.
One test, known as “share of supply”, allows the CMA to investigate deals that would result in a company controlling 25 per cent of the supply of goods and services in a market.
n
The second “material influence” test can give the antitrust regulator power over purchases of certain interests in a business, such as significant shareholdings, even if they fall short of total control. Officials said Reeves wanted to “tighten” and “limit” the circumstances in which deals come under CMA scrutiny.
Ministers have already shaken up the CMA by installing the former boss of Amazon UK, Doug Gurr, as interim chair, replacing Marcus Bokkerink, who agreed to stand down.
“,”elementId”:”68157dd2-ff44-475a-89bd-a25ce2bae14f”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”Does the government really know what it wants from the CMA? | Nils Pratley”,”elementId”:”5fd0f567-d15a-412e-8f16-b247cb9c82bf”,”role”:”thumbnail”,”url”:”https://www.theguardian.com/business/nils-pratley-on-finance/2025/feb/13/does-the-government-really-know-what-it-wants-from-the-cma”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Last month, the CMA’s chief executive, SarahCardell, argued that the regulator’s new growth focus did not clash with its core mandate to support competitin.
“I don’t see there being a fundamental tension between the two and we haven’t got a growth duty that’s coming in over and above. Our statutory functions are to promote competition and protect consumers. Those fundamentals haven’t changed.
n
“It’s about making sure that the way in which we discharge those statutory duties is done in a way that helps to contribute to driving growth, building that business investor confidence.
n
“We are looking for more pace, for more predictability, proportionality, and making sure our processes work.”
n
“,”elementId”:”c7d596fa-12b5-4f6d-845b-67abf8fa347c”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”‘We must avoid a chilling effect’: the CMA chief on the UK’s pro-growth shift”,”elementId”:”5a8d695d-68c4-4499-9881-98570f2ecd48″,”role”:”thumbnail”,”url”:”https://www.theguardian.com/business/2025/feb/18/we-must-avoid-a-chilling-effect-the-cma-chief-on-the-uks-pro-growth-shift”}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742199237000,”blockCreatedOnDisplay”:”04.13 EDT”,”blockLastUpdated”:1742200000000,”blockLastUpdatedDisplay”:”04.26 EDT”,”blockFirstPublished”:1742200000000,”blockFirstPublishedDisplay”:”04.26 EDT”,”blockFirstPublishedDisplayNoTimezone”:”04.26″,”title”:”Reeves expected to restrict UK competition watchdog’s merger investigations”,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”},{“id”:”67d7cfd78f080fa8bc4fd506″,”elements”:[{“displayCredit”:true,”_type”:”model.dotcomrendering.pageElements.ImageBlockElement”,”role”:”inline”,”media”:{“allImages”:[{“index”:0,”fields”:{“aspectRatio”:”5:3″,”height”:”4648″,”width”:”7747″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/7747.jpg”},{“index”:1,”fields”:{“aspectRatio”:”5:3″,”isMaster”:”true”,”height”:”4648″,”width”:”7747″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg”},{“index”:2,”fields”:{“aspectRatio”:”5:3″,”height”:”1200″,”width”:”2000″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/2000.jpg”},{“index”:3,”fields”:{“aspectRatio”:”5:3″,”height”:”600″,”width”:”1000″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/1000.jpg”},{“index”:4,”fields”:{“aspectRatio”:”5:3″,”height”:”300″,”width”:”500″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/500.jpg”},{“index”:5,”fields”:{“aspectRatio”:”5:3″,”height”:”84″,”width”:”140″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/140.jpg”}]},”elementId”:”ca8fe1a5-33e6-488b-afb6-b6cbc8cc4c20″,”imageSources”:[{“weighting”:”inline”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=85&auto=format&fit=max&s=8a6ad92888d5f71341f4279864577695″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=faa9bb2de4784e4f39e87208eef16183″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=85&auto=format&fit=max&s=6cb0885db6214ec89c1007ee1bfdc8ee”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=3b1b4bf7905e08a0888a1c6ae3768283″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=85&auto=format&fit=max&s=220a9930f392321bcbd6f4e5efc877c8″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=d9db77ede9f1e789ede4d16e82c68cff”,”width”:890}]},{“weighting”:”thumbnail”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=140&quality=85&auto=format&fit=max&s=a0ba7a7321f52164df5392e47977bb4d”,”width”:140},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=140&quality=45&auto=format&fit=max&dpr=2&s=9002432c77c0e71f47d356498dc662f4″,”width”:280},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=120&quality=85&auto=format&fit=max&s=160e54d44de9851b9da05c9f323be0b6″,”width”:120},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=120&quality=45&auto=format&fit=max&dpr=2&s=e9e5365eceedad4c4a194404d69a4d33″,”width”:240}]},{“weighting”:”supporting”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=380&quality=85&auto=format&fit=max&s=fcd8e4fd831fd734235cb29f97eaf7e4″,”width”:380},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=380&quality=45&auto=format&fit=max&dpr=2&s=3b829b77419273f1ba2662d6f06d4961″,”width”:760},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=300&quality=85&auto=format&fit=max&s=44d9c90ac8f0f5a06d91af07adccf62a”,”width”:300},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=300&quality=45&auto=format&fit=max&dpr=2&s=3c2a87ec1a515e1191e673e901ef8a56″,”width”:600},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=85&auto=format&fit=max&s=8a6ad92888d5f71341f4279864577695″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=faa9bb2de4784e4f39e87208eef16183″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=85&auto=format&fit=max&s=6cb0885db6214ec89c1007ee1bfdc8ee”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=3b1b4bf7905e08a0888a1c6ae3768283″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=85&auto=format&fit=max&s=220a9930f392321bcbd6f4e5efc877c8″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=d9db77ede9f1e789ede4d16e82c68cff”,”width”:890}]},{“weighting”:”showcase”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=860&quality=85&auto=format&fit=max&s=55e8e4ac6e80f4e17286ab0b2b0f8176″,”width”:860},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=860&quality=45&auto=format&fit=max&dpr=2&s=b01161f1f1ecbf3c4d3ac34f3a320e72″,”width”:1720},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=780&quality=85&auto=format&fit=max&s=a4ed2e2b707c01b7f8b230fcf8dc48c1″,”width”:780},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=780&quality=45&auto=format&fit=max&dpr=2&s=44f333c157f57e6935301af5deb73b25″,”width”:1560},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=85&auto=format&fit=max&s=8a6ad92888d5f71341f4279864577695″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=faa9bb2de4784e4f39e87208eef16183″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=85&auto=format&fit=max&s=6cb0885db6214ec89c1007ee1bfdc8ee”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=3b1b4bf7905e08a0888a1c6ae3768283″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=85&auto=format&fit=max&s=220a9930f392321bcbd6f4e5efc877c8″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=d9db77ede9f1e789ede4d16e82c68cff”,”width”:890}]},{“weighting”:”halfwidth”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=85&auto=format&fit=max&s=8a6ad92888d5f71341f4279864577695″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=faa9bb2de4784e4f39e87208eef16183″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=85&auto=format&fit=max&s=6cb0885db6214ec89c1007ee1bfdc8ee”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=3b1b4bf7905e08a0888a1c6ae3768283″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=85&auto=format&fit=max&s=220a9930f392321bcbd6f4e5efc877c8″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=d9db77ede9f1e789ede4d16e82c68cff”,”width”:890}]},{“weighting”:”immersive”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1900&quality=85&auto=format&fit=max&s=7b044cce604bcaca26c2c5f5ad923bc8″,”width”:1900},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1900&quality=45&auto=format&fit=max&dpr=2&s=6e25427632a7a15ab77ba62bc0f74efa”,”width”:3800},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1300&quality=85&auto=format&fit=max&s=3d54d21f8b288f5b357a3c5bb752a716″,”width”:1300},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1300&quality=45&auto=format&fit=max&dpr=2&s=cee9d057bd3bacd0928aa479270d6c64″,”width”:2600},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1140&quality=85&auto=format&fit=max&s=8125738517b3e8d023bd98824afc4e6c”,”width”:1140},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=1140&quality=45&auto=format&fit=max&dpr=2&s=6cd06aa43e6e8a9c4442942d6d87e04f”,”width”:2280},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=980&quality=85&auto=format&fit=max&s=9122a557277355486d3c01393f8c0d17″,”width”:980},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=980&quality=45&auto=format&fit=max&dpr=2&s=aa40e8690d6e879cd876377dfb3ae0e8″,”width”:1960},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=740&quality=85&auto=format&fit=max&s=e71ee247631b7f8c8f39c99059ce9d71″,”width”:740},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=740&quality=45&auto=format&fit=max&dpr=2&s=715ac84d338ceecd80e8e6c94ff5505b”,”width”:1480},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=660&quality=85&auto=format&fit=max&s=b7de6eb538912de64583abe460d638a0″,”width”:660},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=660&quality=45&auto=format&fit=max&dpr=2&s=d803745c08e469065d830ad380e5faa4″,”width”:1320},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=480&quality=85&auto=format&fit=max&s=b69726fe88cd0b887597e8e72aea1b01″,”width”:480},{“src”:”https://i.guim.co.uk/img/media/5324795eb6f1c45f920736566e84a940a7816f1d/0_39_7747_4648/master/7747.jpg?width=480&quality=45&auto=format&fit=max&dpr=2&s=57c38af1a273fa9d72c940b53d92a9fc”,”width”:960}]}],”data”:{“alt”:”US President Donald Trump speaking to reporters on Air Force One on his return to Washington, DC”,”caption”:”US President Donald Trump speaking to reporters on Air Force One on his return to Washington, DC”,”credit”:”Photograph: Kevin Lamarque/Reuters”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Hopes that US president Donald Trump might sway away from deepening his global trade war next month have taken a knock overnight.
Trump has insisted that reciprocal and sectoral tariffs will be imposed on US trading partners on 2 April, and also insisted that he has no intention of creating exemptions on steel and aluminum tariffs.
Speaking to reporters on Air Force One, Trump was asked if he would be imposing sectoral and reciprocal tariffs on 2 April, as has been previously suggested.
Reciprocal tariffs are taxes on imports to the US which are set at a similar rate to taxes other countries put on goods they import from the US, while sectoral tariffs would target a particular type of products – such as automobiles, steel, aluminum, microprocessors, and pharmaceuticals.
The comments are a sign that Trump is determined to press ahead with a more aggressive trade regime, despite having upset US allies – and spooked the financial markets – by announcing and imposing tariffs since returning to power.
We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing.”
n
“,”elementId”:”61f5ef80-63dd-4ed0-9bed-3308ea4bd51c”},{“displayCredit”:true,”_type”:”model.dotcomrendering.pageElements.ImageBlockElement”,”role”:”inline”,”media”:{“allImages”:[{“index”:0,”fields”:{“height”:”4333″,”width”:”6500″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/6500.jpg”},{“index”:1,”fields”:{“isMaster”:”true”,”height”:”4333″,”width”:”6500″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg”},{“index”:2,”fields”:{“height”:”1333″,”width”:”2000″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/2000.jpg”},{“index”:3,”fields”:{“height”:”667″,”width”:”1000″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/1000.jpg”},{“index”:4,”fields”:{“height”:”333″,”width”:”500″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/500.jpg”},{“index”:5,”fields”:{“height”:”93″,”width”:”140″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/140.jpg”}]},”elementId”:”5bfb7066-ef2e-436e-849d-a2e28313ac1f”,”imageSources”:[{“weighting”:”inline”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=85&auto=format&fit=max&s=5e60112da3dac8793e56735363bd6f24″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=fc2d0383dfb2144033df4d6eed2ac69c”,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=85&auto=format&fit=max&s=9b7231da7fa17980122b6de381f5ae5d”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=d26aca7d90165763d9dc962b8c70ed20″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=85&auto=format&fit=max&s=226463e887fb2c53d8639a89643623c4″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=4a7e8c483992aa4ad32268c5c6508a10″,”width”:890}]},{“weighting”:”thumbnail”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=140&quality=85&auto=format&fit=max&s=68812c0565470ab0fdcf6ff9a1babbaf”,”width”:140},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=140&quality=45&auto=format&fit=max&dpr=2&s=fbb2480582124e961ef6e5540e119632″,”width”:280},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=120&quality=85&auto=format&fit=max&s=655c92e139add6b42d38e3f2bf3a4118″,”width”:120},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=120&quality=45&auto=format&fit=max&dpr=2&s=4383bc574950ed18bb78e4f4341c16c6″,”width”:240}]},{“weighting”:”supporting”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=380&quality=85&auto=format&fit=max&s=56d37a73859cbef626a712790c31f1ab”,”width”:380},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=380&quality=45&auto=format&fit=max&dpr=2&s=16ae5cf14ff6781220213fe9d7214a60″,”width”:760},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=300&quality=85&auto=format&fit=max&s=0982c5d74b75cde36c01497188b4d5ef”,”width”:300},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=300&quality=45&auto=format&fit=max&dpr=2&s=8712266bade9a01b3726a7226f476aa9″,”width”:600},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=85&auto=format&fit=max&s=5e60112da3dac8793e56735363bd6f24″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=fc2d0383dfb2144033df4d6eed2ac69c”,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=85&auto=format&fit=max&s=9b7231da7fa17980122b6de381f5ae5d”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=d26aca7d90165763d9dc962b8c70ed20″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=85&auto=format&fit=max&s=226463e887fb2c53d8639a89643623c4″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=4a7e8c483992aa4ad32268c5c6508a10″,”width”:890}]},{“weighting”:”showcase”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=860&quality=85&auto=format&fit=max&s=7cb6c817b5c0349f73415a1ddb743251″,”width”:860},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=860&quality=45&auto=format&fit=max&dpr=2&s=607d6c92d24b9264d3f7c52ede3385a6″,”width”:1720},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=780&quality=85&auto=format&fit=max&s=b2a52cb0bd192f7238c67c3bd18bb88c”,”width”:780},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=780&quality=45&auto=format&fit=max&dpr=2&s=1609ae88a4a7076b33be95bbcd6c6fce”,”width”:1560},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=85&auto=format&fit=max&s=5e60112da3dac8793e56735363bd6f24″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=fc2d0383dfb2144033df4d6eed2ac69c”,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=85&auto=format&fit=max&s=9b7231da7fa17980122b6de381f5ae5d”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=d26aca7d90165763d9dc962b8c70ed20″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=85&auto=format&fit=max&s=226463e887fb2c53d8639a89643623c4″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=4a7e8c483992aa4ad32268c5c6508a10″,”width”:890}]},{“weighting”:”halfwidth”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=85&auto=format&fit=max&s=5e60112da3dac8793e56735363bd6f24″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=fc2d0383dfb2144033df4d6eed2ac69c”,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=85&auto=format&fit=max&s=9b7231da7fa17980122b6de381f5ae5d”,”width”:605},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=d26aca7d90165763d9dc962b8c70ed20″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=85&auto=format&fit=max&s=226463e887fb2c53d8639a89643623c4″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=4a7e8c483992aa4ad32268c5c6508a10″,”width”:890}]},{“weighting”:”immersive”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1900&quality=85&auto=format&fit=max&s=47c5a19a40051d14034687935447d0cc”,”width”:1900},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1900&quality=45&auto=format&fit=max&dpr=2&s=7183c19e6496b608655d5eabb053f3b0″,”width”:3800},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1300&quality=85&auto=format&fit=max&s=ebd53d56e733a331968c0e8262a2575c”,”width”:1300},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1300&quality=45&auto=format&fit=max&dpr=2&s=54c6ad81f9159f0746e51cffc9ffbf98″,”width”:2600},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1140&quality=85&auto=format&fit=max&s=3371a023cf1abcae4eab008b69862c1b”,”width”:1140},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=1140&quality=45&auto=format&fit=max&dpr=2&s=dbf62b67f05fcce658f8db15bd16b5c9″,”width”:2280},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=980&quality=85&auto=format&fit=max&s=4d5be473da56cc1da53db9d456ca87ef”,”width”:980},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=980&quality=45&auto=format&fit=max&dpr=2&s=2515faa21ea3873c0900c62ae2e62137″,”width”:1960},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=740&quality=85&auto=format&fit=max&s=57b1ba91bca70ba283cdf26bed3024a9″,”width”:740},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=740&quality=45&auto=format&fit=max&dpr=2&s=d15db816a3ebef4048fee2f5af2a2c5b”,”width”:1480},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=660&quality=85&auto=format&fit=max&s=a71d7254fb2ac3ba22be1aa2ac5a9b47″,”width”:660},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=660&quality=45&auto=format&fit=max&dpr=2&s=835f038443d9658e533232974fa10b40″,”width”:1320},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=480&quality=85&auto=format&fit=max&s=8537d24a0090750af333fc6a6e96af33″,”width”:480},{“src”:”https://i.guim.co.uk/img/media/540a1d6b244b0d67edd7b382e31e660b396332a2/0_0_6500_4333/master/6500.jpg?width=480&quality=45&auto=format&fit=max&dpr=2&s=fab408ead7b0395e6575cee6f3f25841″,”width”:960}]}],”data”:{“alt”:”President Trump waving from the stairs of Air Force One this morning”,”caption”:”President Trump waving from the stairs of Air Force One this morning”,”credit”:”Photograph: Luis M Alvarez/AP”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742196695000,”blockCreatedOnDisplay”:”03.31 EDT”,”blockLastUpdated”:1742198472000,”blockLastUpdatedDisplay”:”04.01 EDT”,”blockFirstPublished”:1742198379000,”blockFirstPublishedDisplay”:”03.59 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.59″,”title”:”Trump: Both reciprocal and sectoral tariffs coming on 2 April”,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”},{“id”:”67d7d1658f080fa8bc4fd50d”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Sir Keir Starmer is promising to “bring back the animal spirits of the private sector” by cutting the burden of regulation.
Writing in City AM this morning, Starmer says “it is an outrage” that the government does not know how much it costs business to comply with regulations.
Entrepreneurs who work day and night to build a business from scratch. Family companies that have passed know-how across the generations. Iconic British companies employing thousands of people across all sectors. Investors who provide the capital and expertise that fuels growth and innovation.
Starmer adds that the government is “kicking off a short, sharp process” to identify regulators that can be cut or merged, as part of his drive to cut ‘quangos’, concluding:
Reshaping our state, our regulatory system, our economy, is not the work of weeks and months. It will take years of discipline, focus and a willingness to make tough choices.
n
But my government is taking on that challenge to bring back the animal spirits of the private sector, and to make Britain the best place in the world to start and build a business.
n
“,”elementId”:”eb220765-d000-469e-b8a1-557e4540d6e7″}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742197093000,”blockCreatedOnDisplay”:”03.38 EDT”,”blockLastUpdated”:1742197815000,”blockLastUpdatedDisplay”:”03.50 EDT”,”blockFirstPublished”:1742197816000,”blockFirstPublishedDisplay”:”03.50 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.50″,”title”:”Starmer: I’ll cut regulation and unleash animal spirits”,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”},{“id”:”67d7cb708f0881be55ef5fcd”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The Institute of Directors has welcomed the government’s plan to shake-up regulation, calling it “a welcome shift to a more growth friendly approach”.
“Compliance with burdensome regulation is frequently cited by IoD members as one of the top factors having a negative effect on their businesses. Although well-designed and proportionate regulation has a valuable role to play in a modern economy, the current UK framework does not sufficiently prioritise growth and innovation. It is hence appropriate for the government to rebalance its approach with a pro-business orientation at its core.
n
“In our Spending Review submission in February, the IoD called on the government to reinstate a Business Impact Target for new regulation over the life of the Parliament. We are therefore delighted that the government has listened to this recommendation and is now committed to reducing the administrative costs of regulation on business by 25% through this Plan. Meaningful progress against this target will be crucial for supporting businesses and growing the economy.
n
“In addition to the measures announced today, we would also like to see the government apply more rigorous and timely impact assessment procedures when considering new regulation. Non-regulatory solutions should always be considered, and the business case for new regulation should be subject to proper independent scrutiny by the Regulatory Policy Committee. There should also be a commitment to reviewing the ongoing effectiveness of existing regulation at regular intervals.”
n
“,”elementId”:”c4fc795f-a182-4f04-aebf-e972348e158c”}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742196500000,”blockCreatedOnDisplay”:”03.28 EDT”,”blockLastUpdated”:1742196616000,”blockLastUpdatedDisplay”:”03.30 EDT”,”blockFirstPublished”:1742196616000,”blockFirstPublishedDisplay”:”03.30 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.30″,”title”:”IoD welcomes ‘rebalancing’ of regulation”,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”},{“id”:”67d7c58b8f088880f385b9fd”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Chancellor RachelReeves is to meet with representatives from financial, environmental and health regulators today, in a push to cut bureaucracy and lower the cost of regulation for business.
She’s expected to unveil an “action plan” to cut red tape by reducing the number of bodies which oversee sectors of the economy that are crucial to boosting growth.
The meeting will be attended by the Financial Conduct Authority, Prudential Regulation Authority, the Environment Agency, Natural England, the medicines regulator and the Information Commissioners’ Office.
Between them, these regulators look to protect consumers, businesses, patients and the environment – but ministers seem determined to prevent them clogging up the economy.
On the environmental side, the government hopes to stop infrastructure projects being delayed by protection demands – an issue highlighted recently by the £100m bat shelter built for the HS2 trainline.
The Treasury also plan to slim down the legal duties of regulators, such as those in financial services, energy watchdog Ofgem and water regulator Ofwat, “so that they do not waste time satisfying redundant duties”.
Rain Newton-Smith, chief executive of the ConfederationofBritishIndustry, said the UK’s “Gordian knot of regulations” hindered investment with compliance costs that were too high “leaving us trailing the international competition”.
“Today’s announcement signals a shift towards a more proportionate, outcomes-based approach that should deliver more sustainable growth and investment.”
n
“,”elementId”:”a70fa9b0-5426-4a98-8d84-e125d75fbe0b”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”Reeves to outline plan to cut regulation costs and boost growth”,”elementId”:”55ec34f7-184a-471f-82a2-04d39dd47726″,”role”:”thumbnail”,”url”:”https://www.theguardian.com/business/2025/mar/17/reeves-to-outline-plan-to-cut-regulation-costs-and-boost-growth”},{“_type”:”model.dotcomrendering.pageElements.SubheadingBlockElement”,”html”:”
“,”elementId”:”a6192588-386f-4a8a-b015-64387b4acc49″}],”attributes”:{“pinned”:true,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1742196500000,”blockCreatedOnDisplay”:”03.28 EDT”,”blockLastUpdated”:1742196300000,”blockLastUpdatedDisplay”:”03.25 EDT”,”blockFirstPublished”:1742196500000,”blockFirstPublishedDisplay”:”03.28 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.28″,”title”:”Introduction: Reeves to meet regulators in drive to cut red tape”,”contributors”:[],”primaryDateLine”:”Mon 17 Mar 2025 05.09 EDT”,”secondaryDateLine”:”First published on Mon 17 Mar 2025 03.28 EDT”}],”filterKeyEvents”:false,”id”:”key-events-carousel-mobile”,”absoluteServerTimes”:false,”renderingTarget”:”Web”}”>
Key events
Please turn on JavaScript to use this feature
UK defence company Qinetiq hit by “geopolitical uncertainty”
But UK defence company Qinetiq has surprised the City with a profits warning this morning, knocking its shares down by a fifth.
Qinetiq told shareholders this morning that it has continued to experience “tough near-term trading conditions”, which have hurt its work in our UK Intelligence and US Sectors.
As well as delayed contracts, Qinetiq has also suffered from “geopolitical uncertainty”.
Qinetiq now expects organic revenue growth of 2% this financial year, down from the “high single digit organic revenue growth” it was predicting back in January.
It is taking a goodwill impairment charge of £140m, as well as a non-cash charge of up to £40m due to US operations, “predominantly in our legacy US operations”.
Qinetiq are the top faller on the FTSE 250 share index, down 21%. Other UK defence companies are in the red too, with BAESystems down 0.5%, and Babcock down 0.3%.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, says:
There have been high hopes that the pledge from European nations to swell military budgets amid heightened geopolitical tensions would translate into a flurry of new contracts.
But as alliances shape shift, the uncertainty has been more of a curse than a blessing. Qinetiq has been best with contract delays, not just for its US arm, but also its UK intelligence business. It’s undergoing a re-evaluation and restructuring of its US business to help revive growth.
Lay-offs at the US defense department may exacerbate its current problems, given that its short-term contracts in the US which appear to have already been hit hard. It seems spending decisions are being delayed amid the uncertainty.
The Government wants to make sure that there is “less duplication in the system” when it comes to regulation, a Treasury minister has said.
Emma Reynolds, the economic secretary to the Treasury, told BBC Breakfast:
“We want to ensure that there is less duplication in the system.
“That means that we shouldn’t have the layering upon layering of regulation, but it’s also the case that some regulators are being folded into other regulators.
Because companies that want to set up and grow are facing sometimes two sets of very similar rules or very similar processes to gain authorisation, and we don’t think that that is a good use of resources, for one, but also it’s slowing down growth, and it’s slowing down the initiative and entrepreneurship of British business.”
Reeves expected to restrict UK competition watchdog’s merger investigations
Rachel Reeves is expected to defang Britain’s competition regulator, restricting its powers to investigate mergers.
According to the Financial Times, the chancellor will say she plans to update the two main tests that determine whether the CompetitionandMarketsAuthority should probe a merger.
They say:
One test, known as “share of supply”, allows the CMA to investigate deals that would result in a company controlling 25 per cent of the supply of goods and services in a market.
The second “material influence” test can give the antitrust regulator power over purchases of certain interests in a business, such as significant shareholdings, even if they fall short of total control. Officials said Reeves wanted to “tighten” and “limit” the circumstances in which deals come under CMA scrutiny.
Tightening and limiting the circumstances in which deals come under CMA scrutiny could help companies pull of mergers.
Ministers have already shaken up the CMA by installing the former boss of Amazon UK, Doug Gurr, as interim chair, replacing Marcus Bokkerink, who agreed to stand down.
Last month, the CMA’s chief executive, SarahCardell, argued that the regulator’s new growth focus did not clash with its core mandate to support competitin.
Cardell told the Guardian:
“I don’t see there being a fundamental tension between the two and we haven’t got a growth duty that’s coming in over and above. Our statutory functions are to promote competition and protect consumers. Those fundamentals haven’t changed.
“It’s about making sure that the way in which we discharge those statutory duties is done in a way that helps to contribute to driving growth, building that business investor confidence.
“We are looking for more pace, for more predictability, proportionality, and making sure our processes work.”
Trump: Both reciprocal and sectoral tariffs coming on 2 April
US President Donald Trump speaking to reporters on Air Force One on his return to Washington, DC Photograph: Kevin Lamarque/Reuters
Hopes that US president Donald Trump might sway away from deepening his global trade war next month have taken a knock overnight.
Trump has insisted that reciprocal and sectoral tariffs will be imposed on US trading partners on 2 April, and also insisted that he has no intention of creating exemptions on steel and aluminum tariffs.
Speaking to reporters on Air Force One, Trump was asked if he would be imposing sectoral and reciprocal tariffs on 2 April, as has been previously suggested.
He replied “In certain cases, both,” adding:
“They charge us, and we charge them. Then, in addition to that, on autos, on steel, on aluminum, we’re going to have some additional.”
Reciprocal tariffs are taxes on imports to the US which are set at a similar rate to taxes other countries put on goods they import from the US, while sectoral tariffs would target a particular type of products – such as automobiles, steel, aluminum, microprocessors, and pharmaceuticals.
The comments are a sign that Trump is determined to press ahead with a more aggressive trade regime, despite having upset US allies – and spooked the financial markets – by announcing and imposing tariffs since returning to power.
Trump insists, though, that slapping tariffs on imports to the US makes sense:
“April 2 is a liberating day for our country.
We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing.”
President Trump waving from the stairs of Air Force One this morning Photograph: Luis M Alvarez/AP
Starmer: I’ll cut regulation and unleash animal spirits
Sir Keir Starmer is promising to “bring back the animal spirits of the private sector” by cutting the burden of regulation.
Writing in City AM this morning, Starmer says “it is an outrage” that the government does not know how much it costs business to comply with regulations.
He is promising to lead the first government to baseline these costs, and cut them by 25% by the end of this parliament.
In a notably pro-business column, the PM says the government must “unleash the power of the private sector” if it is to deliver economic growth.
That, he says, means:
Entrepreneurs who work day and night to build a business from scratch. Family companies that have passed know-how across the generations. Iconic British companies employing thousands of people across all sectors. Investors who provide the capital and expertise that fuels growth and innovation.
Starmer adds that the government is “kicking off a short, sharp process” to identify regulators that can be cut or merged, as part of his drive to cut ‘quangos’, concluding:
Reshaping our state, our regulatory system, our economy, is not the work of weeks and months. It will take years of discipline, focus and a willingness to make tough choices.
But my government is taking on that challenge to bring back the animal spirits of the private sector, and to make Britain the best place in the world to start and build a business.
IoD welcomes ‘rebalancing’ of regulation
The Institute of Directors has welcomed the government’s plan to shake-up regulation, calling it “a welcome shift to a more growth friendly approach”.
Dr. Roger Barker, director of policy at the InstituteofDirectors, says:
“Compliance with burdensome regulation is frequently cited by IoD members as one of the top factors having a negative effect on their businesses. Although well-designed and proportionate regulation has a valuable role to play in a modern economy, the current UK framework does not sufficiently prioritise growth and innovation. It is hence appropriate for the government to rebalance its approach with a pro-business orientation at its core.
“In our Spending Review submission in February, the IoD called on the government to reinstate a Business Impact Target for new regulation over the life of the Parliament. We are therefore delighted that the government has listened to this recommendation and is now committed to reducing the administrative costs of regulation on business by 25% through this Plan. Meaningful progress against this target will be crucial for supporting businesses and growing the economy.
“In addition to the measures announced today, we would also like to see the government apply more rigorous and timely impact assessment procedures when considering new regulation. Non-regulatory solutions should always be considered, and the business case for new regulation should be subject to proper independent scrutiny by the Regulatory Policy Committee. There should also be a commitment to reviewing the ongoing effectiveness of existing regulation at regular intervals.”
Fast-tracking new medicines through a pilot to provide parallel authorisations from healthcare regulators
Reviewing the £100 cap on individual contactless payments
Simplifying mortgage lending rules to make it easier to re-mortgage with a new lender and reduce mortgage terms
Setting up a ‘concierge service’ to help international financial services firms navigate regulations
Civil Aviation Authority permitting at least two more large drone-flying trials for deliveries in the coming months – which the government said has already cut travel times for blood samples between hospitals from 30 minutes down to two minutes
Introduction: Reeves to meet regulators in drive to cut red tape
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The UK government has the regulators in its sights as it tries to squeeze more growth out of the economy.
Chancellor RachelReeves is to meet with representatives from financial, environmental and health regulators today, in a push to cut bureaucracy and lower the cost of regulation for business.
She’s expected to unveil an “action plan” to cut red tape by reducing the number of bodies which oversee sectors of the economy that are crucial to boosting growth.
Speaking ahead of the meeting, the chancellor says:
“Today we are taking further action to free businesses from the shackles of regulation.
“By cutting red tape and creating a more effective system, we will boost investment, create jobs and put more money into working people’s pockets.”
The meeting will be attended by the Financial Conduct Authority, Prudential Regulation Authority, the Environment Agency, Natural England, the medicines regulator and the Information Commissioners’ Office.
Between them, these regulators look to protect consumers, businesses, patients and the environment – but ministers seem determined to prevent them clogging up the economy.
On the environmental side, the government hopes to stop infrastructure projects being delayed by protection demands – an issue highlighted recently by the £100m bat shelter built for the HS2 trainline.
The Treasury also plan to slim down the legal duties of regulators, such as those in financial services, energy watchdog Ofgem and water regulator Ofwat, “so that they do not waste time satisfying redundant duties”.
Rain Newton-Smith, chief executive of the ConfederationofBritishIndustry, said the UK’s “Gordian knot of regulations” hindered investment with compliance costs that were too high “leaving us trailing the international competition”.
She said:
“Today’s announcement signals a shift towards a more proportionate, outcomes-based approach that should deliver more sustainable growth and investment.”
Ukraine must be barred from NATO in any peace deal, Russian official says in interview.
United States President Donald Trump has said he will speak with Russian President Vladimir Putin on Tuesday about bringing an end to the war in Ukraine.
Speaking to reporters on Air Force One on Sunday, Trump said “a lot of work” had been done over the weekend.
“We want to see if we can bring that war to an end,” Trump said. “Maybe we can, maybe we can’t, but I think we have a very good chance.”
Asked about what concessions were under consideration in the ceasefire talks, Trump said the discussions would include land and power plants.
“I think we have a lot of it already discussed very much by both sides, Ukraine and Russia,” he said.
“We’re already talking about that, dividing up certain assets.”
Trump’s comments came hours after a high-ranking Russian official was quoted in a local media report saying that any peace deal would preclude Ukraine’s NATO membership.
In an interview with Russian outlet Izvestia, Russian Deputy Foreign Minister Alexander Grushko said Moscow would need “ironclad security guarantees” to agree to a ceasefire.
“Only by establishing such guarantees can lasting peace in Ukraine be achieved and regional security strengthened overall. A neutral status for Ukraine and NATO countries refraining from accepting it as a member of the alliance should be part of these guarantees,” Grushko was quoted as saying.
“In fact, this provision was precisely outlined in the drafts of the mentioned agreements. As for discussions, they are not currently taking place, as there are no negotiations under way.”
Earlier on Sunday, Trump’s special envoy Steve Witkoff told CNN that the two leaders planned to have a “really good and positive discussion” this week.
Washington is hoping to convince the sides to agree to a proposal for an immediate 30-day truce that emerged out of last week’s talks in Jeddah, Saudi Arabia.
While Ukrainian President Volodymyr Zelenskyy has accepted the proposal, Putin has yet to commit to the plan beyond saying he backs it in principle.
The Russian leader said last week that the plan would mostly benefit Kyiv as Russian forces were making gains and he had “serious questions” over the initiative.
Zelenskyy on Saturday accused Moscow of not wanting to end the conflict and seeking to “improve their situation on the battlefield” before agreeing to a ceasefire.
Russia has in recent weeks driven Ukrainian forces from most of its Kursk region, where Kyiv controlled an estimated 1,300sq km (500 square miles) of territory at the height of its incursion launched in August.
We’ve detected unusual activity from your computer network
To continue, please click the box below to let us know you’re not a robot.
Why did this happen?
Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy.
Need Help?
For inquiries related to this message please contact our support team and provide the reference ID below.
Negotiators working to end the Russia-Ukraine war have already discussed “dividing up certain assets,” US President Donald Trump said Sunday as he announced he planned to speak to Russian counterpart Vladimir Putin on Tuesday.
Trump’s comments come after he announced last week that Ukraine had accepted a US-proposed 30-day ceasefire, putting the ball in Russia’s court as to whether it would accept his proposal to swiftly end the war.
“We’re doing pretty well, I think, with Russia. We’ll see if we have something to announce maybe by Tuesday, I’ll be speaking to President Putin on Tuesday,” he told reporters on board Air Force One during a flight back to the White House after his weekend at Mar-a-Lago.
“A lot of work’s been done over the weekend, we want to see if we can bring that war to an end,” he said. “Maybe we can, maybe we can’t, but I think we have a very good chance.”
Trump said negotiators had already pinpointed certain topics up for discussion.
“We’ll be talking about land. A lot of land is a lot different than it was before the war, as you know. We’ll be talking about land, we’ll be talking about power plants, that’s a big question,” he added.
“But I think we have a lot of it already discussed, very much, by both sides, Ukraine and Russia. We’re already talking about that – dividing up certain assets.”
Putin’s response so far to the Trump-backed ceasefire proposal has beenambiguous. He said that Moscow agreed with the proposal in theory. But he also set out tough conditions and demanded concessions from Kyiv, and repeated his claim that the current Ukrainian government was part of the “root cause” of the war.
Meetings between American negotiators with representatives from Ukraine and Russia will continue this week. The Kremlin also said last week that US negotiators would travel to Russia for further talks, though it did not share details on the participants.
Russia first started seizing parts of Ukraine in 2014 before launching its full invasion in 2022, triggering the largest land conflict in Europe since World War Two. Since the 2022 invasion, Ukraine has lost control of about 11% of its land, according to CNN analysis of data from the Institute for the Study of War, a US-based conflict monitor.
Land concessions are among the most sensitive issues left to hammer out. American officials have said Ukraine will likely need to cede territory for the war to end, and Putin has made it a condition of entering into a ceasefire.
But conceding territory has long been a nonstarter for Ukrainian President Volodymyr Zelensky, and some European leaders have voiced concern about appearing to reward Putin for launching his invasion. Russia has also made clear it has no desire to give up the swathes of Ukrainian territory it has occupied.
Trump’s willingness to grant Moscow concessions even before talks began and his embrace of Putin have also rattled NATO allies in Europe who are now openly questioning whether decades of US security guarantees towards the continent can be relied upon.
Trump’s special envoy Steve Witkoff told CNN on Sunday that the ongoing talks over Ukraine were productive, but didn’t say how the matter of territorial concessions would be resolved.
Putin “accepts the philosophy of President Trump” in wanting to see the war come to an end, Witkoff said. He described his meeting last week with Putin as a “solution-based discussion,” and voiced confidence that a pause in fighting could arrive within weeks.
Putin also said Friday that his country is working at restoring relations with the US, after they were “practically reduced to zero, destroyed by the previous American administration.”
“Overall, the situation is starting to move,” he said, referring to relations with the Trump administration. “Let’s see what comes out of this.”
The Democratic Republic of the Congo (DRC) is having “daily exchanges” with the United States government with the aim of securing a minerals-for-security deal, Congolese officials have told the media.
The move comes amid escalating violence in the East African country. The rebel M23 armed group has seized territory in areas rich in gold and coltan, an important mineral used in the manufacturing of electronic gadgets.
At least 7,000 people have been killed since January, according to the DRC government. Thousands more have been displaced.
Although there are no details of an official proposal for a deal with the US, DRC legislators appear to be hoping that the US will deploy troops to help contain the conflict in exchange for rights to the minerals. Analysts, however, say it is unclear whether such an alliance would align with US President Donald Trump’s “America First” policy, and that Washington would be more likely to take a less hands-on approach under any deal.
“The most likely scenario of such an agreement would be the US’s provision of military equipment to the DRC as opposed to any direct troop support,” Daniel van Dalen, senior analyst at South Africa-based security intelligence firm, Signal Risk, told Al Jazeera.
Here’s what we know so far about the DRC’s proposal:
M23 rebels enter the centre of east DRC’s second-largest city, Bukavu, and take control of the South Kivu province administrative office, on February 16, 2025 [Janvier Barhahiga/AP]
Why is DRC seeking a minerals deal with the US now?
Observers say the DRC has been inspired by Washington’s proposal to support Ukraine in its war against Russia in exchange for a minerals deal.
That proposal entails Kyiv handing over a 50 percent stake in the country’s minerals revenue to enjoy a “long-term financial commitment to the development of a stable and economically prosperous Ukraine” from the US.
According to the Reuters news agency, Andre Wameso, deputy chief of staff to DRC’s President Felix Tshisekedi, went to Washington earlier this month to discuss a similar potential “partnership” with US officials. DRC officials have not disclosed specific details on what such a deal would entail.
Like Ukraine, the DRC needs security partners to win its war against the M23 and more than 100 other armed groups that have control of lucrative mines throughout the country. The resource-rich country is a major producer of tin, tungsten, tantalum and gold. These minerals, known collectively as 3TG, are used in the production of electronics, defence equipment, electric vehicles and other technology. DRC’s untapped natural resources are estimated to be worth some $24 trillion.
An artisanal miner carries a sack of ore at the Shabara artisanal mine near Kolwezi on October 12, 2022 [Junior Kannah/ AFP]
What has been proposed by Congolese legislators?
On February 21, the Africa Business Council, an international advocacy group for African business interests, wrote to US Secretary of State Marco Rubio, inviting the US to invest in DRC’s untapped resources. The group said it was acting on behalf of Congolese senator Pierre Kanda Kalambayi who chairs the DRC’s senate committee on defence, security and border protection.
The group suggested access to such investment could be made in exchange for “a long-term economic and security partnership that benefits both nations”.
In its proposal, the Africa Business Council proposed:
Access to DRC’s mines for US defence and technology companies and access to a port for exports.
Control of a joint mineral stockpile of Congolese minerals to be shared by the two countries.
In exchange, the US would provide training and equipment for Congolese forces and direct access to the US military in DRC.
US officials last week signalled a readiness to consider such proposals, but did not respond directly.
“The United States is open to discussing partnerships in this sector that are aligned with the Trump Administration’s America First Agenda,” a US State Department spokesperson told Reuters, noting that Congo held “a significant share of the world’s critical minerals required for advanced technologies”.
The spokesperson added that the US would want to boost private sector investment in the DRC “in a responsible and transparent manner”.
What is the armed conflict in DRC about?
A protracted conflict has raged in the DRC for more than 30 years. The country’s armed forces are weak as a result of government corruption, according to analysts. The country has endured two civil wars between 1996 and 2002, as well as the current rebellion of the M23, with many thousands killed. Millions of people have been displaced.
Defeating the M23 armed group is President Felix Tshisekedi’s top priority. Although several peacekeeping forces are currently in the country, including a United Nations mission (MONUSCO), M23 has managed to seize at least two major towns – Goma and Bukavu – in a lightning advance. It is presently closing in on a third – Walikale, a major mining hub.
A dispute with neighbouring Rwanda adds a further dimension to the conflict. The UN and US have both separately accused Rwanda of backing the M23 and supplying it with troops. They also allege the M23 group is smuggling gold, coltan and other minerals out of the DRC.
Rwanda’s President Paul Kagame denies any involvement with M23 but has in the past justified sending Rwandan soldiers to the DRC to protect Congolese Tutsis from alleged discrimination. That minority population fled Rwanda in 1994 in the wake of a genocide carried out by members of the Hutu majority.
Rwanda has also accused DRC of harbouring Hutu armed groups involved in the genocide. During the Congolese civil wars, UN reports concluded that both Rwanda and its ally, Uganda, had looted the DRC’s mineral resources.
Analysts fear that scenario is playing out again, this time via the M23’s control of lucrative mines in eastern DRC. The European Union, which signed a deal with Rwanda to supply 3TG minerals in February 2024, is now considering cancelling that contract. Rwanda currently supplies about 30 percent of the world’s tantalum. The EU has similar agreements with the DRC.
Several European countries, and the US, have in recent weeks imposed sanctions on key Rwandan officials they say are linked to the current violence in eastern DRC, and have called on Kagame’s government to withdraw troops.
(Al Jazeera)
How would the US benefit from a deal with DRC?
Analysts say Washington could benefit from direct access to DRC-government-owned minerals.
Former DRC President Joseph Kabila negotiated several minerals-for-infrastructure deals with China, although those have been criticised for not being transparent and for failing to deliver what was promised. Currently, Chinese companies dominate the investment landscape in DRC’s minerals industry. Nine of the biggest cobalt mining regions are in the DRC’s southern Katanga. Of the mines in those regions, half are run by Chinese operators.
Under President Tshisekedi, the DRC government appears ready to shift away from China and invite other players to own and operate mines. DRC has signed deals with the EU and India in the past two years. This week, DRC spokesperson Patrick Muyaya told Reuters the country was ready to “diversify” and that the US, in particular, would be welcome.
“If today American investors are interested in coming to the DRC, obviously they will find space … DRC has reserves that are available and it would also be good if American capital could invest here,” he said.
However, analyst van Dalen said it is unlikely that the US would seek to own mines in the DRC, as Congolese politicians have proposed, because this would mean Washington would “only be playing catch-up” with China.
“I don’t foresee a scenario where any agreement materially alters the domestic security landscape in the near term or China’s dominance in the sector,” he said.
A more likely scenario, he added, would see the US buying directly from the government, while its rival, China, continues to operate mines. That approach would also prevent any potential US-China “face-offs” on the ground.
What will happen next?
The two countries were already fostering a growing relationship under former President Joe Biden’s administration but it’s unclear if or when the DRC and the US would sign any deals.
Although there are no US companies operating in the country, the US is investing in the Lobito Corridor, an infrastructure project which includes the building of railways and ports to export DRC’s minerals through neighbouring Angola.
Under Trump, that relationship is set to become more transactional, analysts say, as the Ukraine negotiations have demonstrated.
However, experts also say it remains unclear how new US military equipment for the DRC would immediately change the course of the ongoing war, as the M23 continues its advance towards Kinshasa.
Such support would more likely bolster the DRC’s efforts to reform its weak military in the medium to long term, experts say.
This page either does not exist or is currently unavailable.
From here you can either hit the “back” button on your browser to return to the previous page, or visit the ABCNews.com Home Page. You can also search for something on our site below.
WASHINGTON (AP) — President Donald Trump said he would speak to Russian President Vladimir Putin on Tuesday as he pushes to end the war in Ukraine.
The U.S. leader disclosed the upcoming conversation to reporters while flying from Florida to Washington on Air Force One on Sunday evening.
“We will see if we have something to announce maybe by Tuesday. I will be speaking to President Putin on Tuesday,” Trump said. “A lot of work’s been done over the weekend. We want to see if we can bring that war to an end.”
Any such conversation could be a pivot point in the conflict and an opportunity for Trump to continue reorienting American foreign policy. European allies are wary of Trump’s affinity for Putin and his hardline stance toward Ukrainian President Volodymyr Zelenskyy, who faced sharp criticism when he visited the Oval Office a little more than two weeks ago.
Although Russia failed in its initial goal to topple Ukraine with its invasion three years ago, it still controls large swaths of the country.
Trump said land and power plants are part of the conversation around bringing the war to a close.
“We will be talking about land. We will be talking about power plants,” he said.
Trump described it as “dividing up certain assets.”
Trump special envoy Steve Witkoff recently visited Moscow to advance negotiations, and he said earlier Sunday that a call between Trump and Putin could come soon.
During his conversation with reporters on Air Force One, Trump said he was pushing forward with his plans for tariffs on April 2 despite recent disruption in the stock market and nervousness about the economic impact.
“April 2 is a liberating day for our country,” he said. “We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing.”
Trump has occasionally changed course on some tariff plans, such as with Mexico, but he said he had no intention to do so when it comes to reciprocal tariffs.
“They charge us and we charge them,” he said. “Then in addition to that, on autos, on steel, on aluminum, we’re going to have some additional tariffs.”
