US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseas
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Typical energy bill in Great Britain to fall 7% to £1,720 a year from July
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.
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