Trump announces Nippon Steel and US Steel partnership – as it happened

This blog is now closed. You can read our latest reporting here:

• Trump warms to Nippon Steel, backing ‘partnership’ with US Steel

• Trump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’

• Trump threatens 25% tariff on Apple and Samsung phones not made in US

As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!

New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.

“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”

“In particular, production in the manufacturing sector and exports performed better than initially expected.

The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.

Net exports and private consumption drove economic activity in the first quarter, while government consumption and inventories dragged on growth. Continue reading...