Morning Business Report: UK to sign trade deal with U.S.
The United Kingdom is poised to become the first nation to ink a trade deal with the United States under the current administration.
(LILAMAX)- The United Kingdom is poised to become the first nation to ink a trade deal with the United States under the current administration. According to The New York Times, the agreement—set to be announced today—will reportedly serve as a framework deal, focusing on tariff adjustments rather than a full comprehensive trade agreement. The news comes as tariffs continue to drive significant changes across U.S. markets.
Cox Automotive reports that its Manheim Used Vehicle Value Index—an industry-standard barometer tracking wholesale used vehicle prices—has surged 4.9% year-over-year, hitting its highest level since 2023. While the 25% tariffs on new imported vehicles and auto parts don’t directly affect used car prices, experts say they distort new car production, demand, and pricing—rippling into the used car market.
Meanwhile, the Federal Reserve kept interest rates unchanged Wednesday for the third straight meeting. While steady rates mean no immediate changes for credit cards or auto loan borrowers, savers will continue to see low returns on accounts like money market funds. The Fed cited rising tariff risks as a potential driver of both inflation and slower economic growth.
Stocks responded positively to the Fed’s wait-and-see approach and renewed hopes for progress in U.S.-China trade negotiations expected this weekend. The Dow Jones Industrial Average climbed 284 points in Wednesday’s session.
As graduation season peaks, LinkedIn’s annual Grad’s Guide highlights top career tracks for young jobseekers. Tech and business roles are leading destinations for those with bachelor’s degrees, while durable fields like construction and utilities continue to offer strong entry-level opportunities.
In fast food news, McDonald’s is no longer the top value burger chain. Food Republic reports that Wendy’s and Burger King now offer the most affordable cheeseburgers in the U.S., each priced at $1.99 for their basic beef offerings—cheaper than the iconic McDonald’s options.
