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UK steps in to save British Steel as nationalisation looms

UK steps in to save British Steel as nationalisation looms

Intervention follows a breakdown in talks between the UK government and British Steel’s Chinese owner, Jingye Group. The UK government has taken effective control of British Steel in order to keep its blast furnaces running, after lawmakers approved an emergency rescue. With 3,500 jobs hanging in the balance, British ministers rushed to push through legislation on Saturday to allow the state to temporarily assume operational control. The intervention follows a breakdown in talks between the UK government and British Steel’s Chinese owner, Jingye Group, over plans to transition the firm to greener production methods. After the vote, British Prime Minister Keir Starmer travelled to the site, warning that the blast furnaces – losing $915,600 (700,000 pounds) a day – were on the brink of closure. “You and your colleagues for years have been the backbone of British Steel, and it’s really important that we recognize that,” Starmer said. “It’s your jobs, your lives, your communities, your families.” Lawmakers had been recalled from their Easter recess for the emergency Saturday sitting. Business Secretary Jonathan Reynolds told MPs that the new law would give the government power to manage operations, ensure workers are paid, and secure vital raw materials to keep the furnaces going. Advertisement Reynolds said a full state takeover was “increasingly likely” given the conduct of the firm’s current owners. “A failure to act today would prevent any more desirable outcome from even being considered,” he said. The bill passed the House of Commons unopposed. If nationalised, British Steel would become the UK’s largest state rescue since the 2008 banking crisis. The collapse of its Scunthorpe operations would leave the UK as the only G7 nation unable to produce virgin steel – made directly from raw materials like iron ore and coke. Already under pressure from a global supply glut and soaring energy prices, the company was further hit by new US tariffs of 25 percent, affecting 5 percent of its annual steel exports worth approximately $520m. Reynolds stressed that reliance on foreign steel would grow if the furnaces shutdown, and pledged to fight for their future while also pushing to lift US trade restrictions. The government has already pledged $3.2bn to support the steel sector and aims to unveil a long-term strategy in the coming months. Adblock test (Why?)

Here’s what happened during Trump’s 12th week in office

Here’s what happened during Trump’s 12th week in office

President Donald Trump ramped up steep tariffs against Chinese imports to the U.S. this week while alleviating them for other countries during trade negotiations this week. He also signed a series of executive orders aimed at repealing Biden-era restrictions.  The Trump administration announced Wednesday it would lower reciprocal tariffs on other countries, while also revealing that the administration would immediately hike tariffs on Chinese goods to 145%. In response, China has raised its tariffs on U.S. goods to 125%.  Trump disclosed historic tariffs in a ceremony at the White House’s Rose Garden for a “Make America Wealthy Again” event on April 2, asserting that these new duties would generate new jobs for U.S. workers. HOW WE GOT TO LIBERATION DAY: A LOOK AT TRUMP’S PAST COMMENTS ON TARIFFS The tariff plan established a baseline tax of 10% on all imports to the U.S., along with customized tariffs for countries that place higher tariffs on U.S. goods. The baseline tariffs of 10% took effect Saturday, while the others took effect Wednesday at midnight. But Trump announced in a post on Truth Social Wednesday that reciprocal tariffs announced last week would remain paused for 90 days, during which period the countries would only face the baseline 10% tariff.  “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump posted on his Truth Social media platform on Wednesday.  Secretary of the Treasury Scott Bessent said that the tariffs suggest that China is at odds with the rest of the world.  “China is the most imbalanced economy in the history of the modern world,” Bessent told reporters Wednesday. “They are the biggest source of the U.S. trade problems, and indeed they are the problem for the rest of the world.”  Here’s what also happened this week:  Trump also signed an executive order this week aimed at reinvigorating the shipbuilding industry in the U.S., amid concerns that China is outpacing the U.S. in production.  China is responsible for more than 50% of global shipbuilding, compared to just 0.1% from the U.S., according to the Center for Strategic and International Studies.  The executive order requires agencies to craft a Maritime Action Plan and instructs the United States Trade Representative to provide a list of recommendations to deal with China’s “anticompetitive actions within the shipbuilding industry,” among other things.  TRUMP ENDS BIDEN-ERA WATER REGULATIONS TO ‘MAKE AMERICA’S SHOWERS GREAT AGAIN’ Trump also signed an executive order to reverse Obama- and Biden-era conservation measures that limited water pressure in showers in an attempt to “make showers great again.” Former President Barack Obama initially imposed the water pressure restrictions, and Trump sought to ease some of them during his first term.  However, former President Joe Biden reinstated the measure, which limited multi-nozzle shower heads from releasing more than 2.5 gallons of water per minute.  “I like to take a nice shower, take care of my beautiful hair,” Trump said Wednesday. “I have to stand in the shower for 15 minutes until it gets wet. Comes out drip, drip, drip. It’s ridiculous.” The Trump administration also unveiled plans this week for upcoming talks to negotiate with Iran on Saturday. While Trump has reiterated that these discussions will be “direct” nuclear talks, Iran has pushed back on that description and characterized them as “indirect” negotiations instead.  Middle East envoy Stever Witkoff will travel to Oman on Saturday and is slated to potentially meet with Iranian Foreign Minister Abbas Araghchi. However, Iran has maintained that the discussions will be held through a third party instead.  “The ultimate objective is to ensure that Iran can never obtain a nuclear weapon,” Leavitt told reporters Friday. “The president believes in diplomacy, direct talks, talking directly in the same room in order to achieve that goal. But he’s made it very clear to the Iranians, and his national security team will, as well, that all options are on the table and Iran has a choice to make. You can agree to President Trump’s demand, or there will be all hell to pay. And that’s how the president feels. He feels very strongly about it.” Fox News’ Bonny Chu, Danielle Wallace, and Caitlin McFall contributed to this report. 

Kennedy tells FDA employees that ‘the Deep State is real’: report

Kennedy tells FDA employees that ‘the Deep State is real’: report

Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. visited employees at the FDA on Friday and reportedly told them that “the Deep State is real.” The visit was his first appearance with FDA Commissioner Marty Makary and was reportedly meant to welcome the new chief. “President Trump always talks about the Deep State, and the media, you know, disparages him and says that he’s paranoid,” Kennedy said according to Politico, which reported it obtained an audio recording and transcript of the secretary’s remarks. “But the Deep State is real. And it’s not, you know, just George Soros and Bill Gates and a bunch of nefarious individuals sitting together in a room and plotting the, you know, the destruction of humanity.” According to multiple reports, Kennedy pointed the finger at “institutional pressures.” RFK JR. PLANS TO DIRECT CDC TO STOP RECOMMENDING FLUORIDE IN WATER Kennedy also reportedly said the FDA had become a “sock puppet” of the industries it was meant to regulate. NBC News reported that Kennedy said that this was the case with “every agency,” not just the FDA. One area where Kennedy said he has seen this within the FDA is its Generally Recognized as Safe (GRAS) system, which he says acts as a “loophole” for food companies. In March, Kennedy directed the FDA to reevaluate its policies on food companies obtaining approval before adding new ingredients to their products. He believes that “eliminating this loophole” will not only provide consumers with more transparency, but will be key in improving Americans’ health. ‘HEALTHY SNACK TIME’ WITH ELEMENTARY SCHOOL STUDENTS LAUNCHED BY SECRETARIES ROLLINS, RFK JR. The HHS secretary has not hidden his disdain for the FDA, especially as he spoke throughout the 2024 election cycle about what changes he believes are crucial to improving Americans’ health. About a week and a half before the election, Kennedy — who had already endorsed now-President Donald Trump — issued clear warnings on social media to those who “work for the FDA and are part of this corrupt system.” He told them to preserve their records and to “pack your bags.” CLICK HERE TO SIGN UP FOR OUR LIFESTYLE NEWSLETTER Kennedy recently embarked on a MAHA (Make America Healthy Again) tour in which he visited Utah, Arizona and New Mexico. According to HHS, Kennedy was set to speak on state laws banning ultra-processed foods and food dyes from school lunches, among other regulations. Fox News Digital reached out to HHS for comment on the reports outside working hours but did not receive a response for publication. 

Whitmer ditches Dem playbook on Trump’s tariffs amid 2028 speculation

Whitmer ditches Dem playbook on Trump’s tariffs amid 2028 speculation

While most Democrats have rejected President Donald Trump throughout his second term, Michigan Gov. Gretchen Whitmer bucked the party line during a trip to Washington Wednesday amid speculation about her 2028 campaign aspirations. Democratic governors, many rumored to harbor 2028 presidential ambitions, spoke out against Trump’s tariffs this week as governors JB Pritzker and Gavin Newsom worked independently with trade partners to try to soften the damage to their state economies. Whitmer’s diplomatic moves put her out of step with her party, and the verdict is still out on how it will affect her politically down the line. Brad Bannon, a Democratic strategist and the president of Bannon Communications Research, told Fox News Digital dialogue with Trump is critical to Whitmer delivering for Michigan, particularly through the uncertainty of Trump’s tariff deals. But he said Whitmer, a potential 2028 presidential candidate, getting too close to Trump could jeopardize her status as a “first-tier presidential candidate,” alongside governors Josh Shapiro, Andy Beshear and Newsom.  “This is a double-edged sword,” Bannon said. “She has to have an open dialogue with the president, but at the same time, if she’s going to win the Democratic presidential nomination or have a chance to win it, she is going to have to be very critical of Trump.” DEM GOVERNORS REVOLT AGAINST TRUMP’S ‘LIBERATION DAY’ TARIFFS TRUMP PRAISES DEM GOV. GRETCHEN WHITMER AFTER SLAMMING HER LAST YEAR: ‘VERY GOOD PERSON’ “In this political environment, there’s no room for nuanced discussion about Donald Trump among Democratic primary voters,” Bannon said. “Whoever’s going to be the Democratic nominee is someone who’s going to be very critical of the president. And that applies to Andy Beshear of Kentucky or Josh Shapiro of Pennsylvania, even Gavin Newsom in California,” Bannon added.  Newsom, long considered a potential 2028 presidential candidate, has also embraced political dialogue across party lines since the Democrats’ big November losses. Newsom has invited Trump allies and conservative guests, including Charlie Kirk and Steve Bannon, onto his show in an attempt to show he is open to “criticism and debate without demeaning or dehumanizing one another.” The strategy follows criticism after the 2024 presidential election that Democrats didn’t prioritize new media appearances and unscripted conversations enough.  Whitmer seemed to embrace the bipartisan strategy this week by carefully criticizing Trump’s tariffs while also acknowledging an understanding the president’s “motivation behind the tariffs” and even agreeing with Trump that we “need to make more stuff in America.” GRETCHEN WHITMER ANGERS DEMOCRATS, SUFFERS ‘HUGE EMBARRASSMENT’ WITH TRUMP MEETING AT WHITE HOUSE Later that day, Whitmer had her second meeting with Trump in a month. As Trump signed executive orders and answered questions from the press in the Oval Office, he said Whitmer had “done an excellent job” as governor and called her a “very good person,” a break from his typical lines of attack on her character.  “One of her opponents will dig that clip up and put it in a television ad,” Bannon said. The Democratic Governors Association (DGA), which applauded Democratic governors for standing up and speaking out against Trump’s tariffs this week, characterized Whitmer’s trip to Washington as a willingness to work with “anyone” to deliver for Michigan.  “Gov. Whitmer and Democratic governors across the country are doing what they’ve always done as strong and successful state executives — working with anyone to get real results for their states while also standing up against policies that harm their residents. As Donald Trump and Republicans in D.C. continue to sow economic chaos and raise prices, it’s more important than ever that we continue to elect Democratic governors who know how to get things done on the biggest issues impacting families every day,” DGA communication director Sam Newton told Fox News Digital.  Whitmer vowed to keep showing up for Michigan regardless of who is in the White House.  “If you’re not at the table, you’re on the menu,” Whitmer said after her speech in Washington. “My oath to the people of Michigan is to continue to show up, even when it means I’m going to get my lunch handed to me. I’m going to keep showing up and keep fighting for the people of Michigan, no matter who is at the other side of the table. That’s my job, and I’m going to do it until my last day as governor.” Just a month ago, Trump and Whitmer sparred after the Michigan governor warned her constituents during her 2025 State of the State address that Trump’s tariffs could put Michigan’s auto industry in peril. The White House trolled her for “running more for Governor of Canada” by supporting the “deadly status quo.” Fox News Digital reached out to Whitmer’s office for comment on her political aspirations but did not receive a response.

Sen. Tim Scott outlines first 100 days of Congress, crypto, tariffs

Sen. Tim Scott outlines first 100 days of Congress, crypto, tariffs

FIRST ON FOX — In an exclusive interview with Fox News Digital, Republican South Carolina Senator and former presidential candidate Tim Scott shared his views on his first hundred days as Senate Banking Committee chairman, breaking down a trade war with China, the future of cryptocurrency and controversial debanking policies. With Republicans holding power in both chambers of Congress and President Donald Trump in the White House, party leaders and supporters across the country had high expectations of the GOP’s policy agenda and ability to pass critical legislation swiftly and effectively.  However, it has not been a perfect start to the 119th Congress. Republicans in the House of Representatives hold a slim 7-seat majority, and GOP infighting has forced internal debates that have delayed key pieces of legislation, like Trump’s “big, beautiful” tax bill, which passed last Thursday just 216 to 214.  GOP SENATORS BULLISH ON POST-EASTER ‘BIG, BEAUTIFUL’ BUDGET AGREEMENT On the Senate side, Republicans hold an 8-seat majority over Democrats. With just 100 members in the upper chamber, the same principle of internal harmony must exist for legislation to move forward.  Despite the narrow margins, Scott says some of the policy goals the committee has set they have “been able to accomplish.” “I wanted within the first hundred days to have some crypto or digital asset legislation marked up and run through our committee,” Scott told Fox News Digital. “Good news is the GENIUS Act is stamped. Done. Heading to the Senate floor. Number two, the FIRM Act. Focusing on debanking. Done. Heading onto the Senate Floor. Number three, our ability to listen to President Trump, the leader of not only our party, but of our country.” Trump’s role in working with congressional leaders was first demonstrated as every cabinet member that reached the Senate so far for confirmation was approved at the fastest pace in more than 20 years. “We’ve been running these folks through our committee,” said Scott. “It is a lightning-fast approach, but the good news is President Trump and the American people deserve his team in place. Promises made, promises kept. We are well on our way.” VP VANCE BLASTS MCCONNELL’S VOTE AGAINST TRUMP PENTAGON NOMINEE: ‘POLITICAL PETTINESS’ Outside the nominees, several prominent issues have made their way through the banking committee in the first hundred days. And one of the hottest items in banking today is the implementation of cryptocurrency into U.S. markets and day-to-day life. Notably, the GENIUS Act, a bill “to provide for the regulation of payment stablecoins,” would be a major advancement for crypto markets, showing the federal government is taking the digital asset market more seriously. But Scott blamed the Biden administration for the lack of enthusiasm to get pro-crypto legislation signed into law.  “There’s no doubt that under the Biden administration and Gensler at the SEC, they just… didn’t like crypto. What I’ve said very often is simply this: we must innovate before we regulate. That means allowing innovation to happen here at home in the digital asset space is critical to American economic dominance across the globe,” he explained.  The GENIUS Act passed through committee in March and now heads to the Senate Floor. Scott predicted the timeline as to when the bill would be signed into law, telling Fox he believed the legislation would be “passed into law by August.” TRUMP CRYPTO CHIEF SAYS WE ARE IN THE ‘GOLDEN AGE’ FOR DIGITAL ASSETS, ‘CLEARING THE DECK’ OF BIDEN BARRIERS The bill made its way through committee with an 18-6 as Senators Mark Warner, D-Indiana, Andy Kim, D-New Jersey, Ruben Gallego, D-Arizona, Lisa Blunt Rochester, D-Pennsylvania and Angela Alsobrooks, D-Maryland all voted with Republican against the wishes of Ranking Leader Elizabeth Warren, D-Massachusetts.  But crypto markets, along with U.S. stocks, have been highly volatile in the past weeks, largely due to Trump’s controversial tariffs policies and trade standoffs.  When asked about the mounting pressure between the U.S. and China, Scott backed Trump’s strategy, telling Fox News Digital, “This is about a country, China, that lies, cheats, and steals. Not on the watch of President Trump. He is going to use every tool in his toolkit to make sure that the Chinese government does not continue to take advantage of the American economy. I am thankful that we finally have a president with a backbone made of steel to stand up to President Xi and protect not just America’s present but America’s future.” HERE’S WHEN AMERICAN CONSUMERS, BUSINESSES WILL FEEL THE STING OF 145% CHINA TARIFFS Scott argued that establishing economic dominance “requires hard conversations and a tariff regime to push China into the smallest corner of the global economy if they’re going to lie, cheat, and steal against us.”  He added, “We are not going to give them full and unfettered access to our market. That’s called common sense.” On Friday, China raised tariffs on U.S. imports to 125%, which Trump has maintained that a 145% tariff will be placed on China’s imports. As for the remainder of the 119th Congress and heading into what will be a critical midterm election year, Scott remains optimistic about the policies in progress and the legislation yet to come. “Thank God Almighty President Trump is in the White House,” the former presidential candidate added.