From Tariff Titans to Backpedal Brigade

The summary: In a dazzling display of trade policy gymnastics, the US quietly spared iPhones from sky-high tariffs, soothed markets, baffled allies, and turned its tough talk into a cheeky diplomatic sidestep.

The details:

• Tariffs? What tariffs? In a classic Friday night special, the US quietly exempted smartphones (yes, including iPhones) and other major Chinese electronics from its headline-grabbing 125% tariffs — a bit awkward given the whole “bring manufacturing home” spiel days earlier.

• iPhone sticker shock dodged: With 80% of US-bound iPhones made in China, prices were set to rocket past £1,500. Instead, Apple dodged the bullet — though it may owe Tim Cook a knighthood for single-handedly keeping global supply chains (and sanity) intact.

• From Navarro to Nevermind: The US administration's economic doctrine has turned from “tariff the cheats” to “please don’t tank the bond market”, sidelining trade hawks in favour of soothing voices who’d rather not see interest rates go full bonkers.

• Art of the Repeal: After a week of bravado, exemptions now cover nearly a quarter of Chinese exports and give sweetheart deals to surplus nations — all while close allies like the UK get smacked with a 25% tariff on cars. One suspects even Trump’s tariff chart needs therapy.

Why it matters: The US just pulled a U-turn worthy of a stunt driver, quietly sparing iPhones and key electronics from sky-high tariffs while pretending it never hit the brakes. That means global tech prices won't explode just yet, but the credibility of America’s trade strategy now looks flimsier than a wet paper bag. Meanwhile, countries like the UK get tariffed like naughty schoolchildren despite playing nice — proving once again, it's not what you export, it's who you know.

British Steel Meltdown: Race To Save Scunthorpe Furnaces

The summary: British Steel’s Scunthorpe plant is in a last-minute scramble to keep its furnaces alive after its Chinese owners bailed, sparking a government rescue dash, heroic union action, and the possible return of good old-fashioned nationalisation — proper drama, with a side of molten metal.

The details:

• British Steel’s blast furnaces are on the brink, with emergency coal-dodging gymnastics underway as ministers scramble to stop a national meltdown. Think Great British Bake Off, but with more coking coal and slightly higher stakes.

• Chinese owner Jingye ghosted the government’s £500m lifeline, flogged off raw materials like they were closing down a car boot sale, and sparked suspicions of industrial sabotage—or at the very least, some seriously dodgy decision-making.

• MPs were dragged back to Parliament on a weekend (the horror) to pass emergency powers, while government officials and steelworkers heroically try to keep the fires burning—literally—at Scunthorpe.

• Nationalisation’s now on the cards, with ministers eyeing up steel as a critical industry and pondering whether letting it collapse would cost more than keeping it alive. Spoiler: it would. By a mile.

Why it matters: The Scunthorpe furnaces are teetering on the edge as emergency measures kick in to stop them going cold, with Chinese owners Jingye seemingly doing their best disappearing act. Parliament’s been recalled, raw materials are being hunted down like lost luggage, and nationalisation is back on the table. If the furnaces die, so does a big chunk of the UK’s industrial backbone — not to mention thousands of jobs and a billion-pound tab no one wants to pick up.

£975m Deal: Cricket’s Big Tech Gamble

The summary: Cricket’s getting a cash boost and a tech makeover, but with billionaires at the helm and a seven-year expiry date, it’s all a bit of a high-stakes gamble with stumps!

The details:

• The Hundred gets a billionaire makeover – Tech moguls and sports tycoons are coughing up £520m to own bits of The Hundred, with the ECB promising not to bin the whole thing for at least seven years… probably.

• New governance, same old grumbles – A shiny new board (HB) with voting gymnastics aims to keep everyone happy, though investors are side-eyeing the ECB’s lingering influence like a nosy neighbour.

• Future-proofing, or faffing about? – Media rights, expansion, and sponsorship now require triple-trigger voting wizardry, as if Hogwarts got into sports management.

• Sign now or lose out – The ECB is dangling dividends like a carrot, warning that latecomers won’t get the full financial pie. Meanwhile, everyone's still quietly wondering: what happens in year eight?

Why it matters: English cricket’s just bagged a near-billion-pound cash injection, but the fine print reads more like a plot twist than a financial plan. Investors are being asked to cough up millions while being told the whole show could be cancelled in seven years – not exactly the kind of pitch that screams security. And with tech billionaires now helping run the thing, The Hundred might soon feel less like county cricket and more like Silicon Valley with stumps.

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