
UK to roll out red carpet for second Trump state visit
London (AFP) Britain will welcome Donald Trump for an unprecedented second state visit in September, Buckingham Palace confirmed on Monday, saying he would stay as the guest of King Charles III at Windsor Castle. The US president "accompanied by the First Lady Mrs. Melania Trump, has accepted an invitation from His Majesty The King to pay a state visit to the United Kingdom from September 17 to 19, 2025," said a palace statement.The visit will come only two months after Charles, and his wife Queen Camilla, welcomed French President Emmanuel Macron and his wife Brigitte to Windsor.Trump was invited by a personal letter from Charles, which Prime Minister Keir Starmer handed to him in February during a visit to Washington.Starmer has sought to woo Trump with a charm offensive to boost ties and gain better leverage for the UK in tough trade talks with Washington.A delighted Trump, who has long been a big fan of the British royal family, has called the invitation a "very great honour", and opened the letter from the king in the glare of the world's cameras."This is really special, this has never happened before, this is unprecedented," Starmer said in the Oval Office as he handed Trump a hand-signed letter from the monarch."This is truly historic."Britain rolled out the red carpet for Trump in 2019 when he met the late Queen Elizabeth II, King Charles's mother. No foreign leader has ever had a second state visit.The Times daily said the king had however sought to put off the new visit until later in Trump's second term, but "Starmer has gone against the wishes of the king" in bringing the visit forward."The prime minister has expedited a full 'bells and whistles' visit in an attempt to capitalise on the president's fascination with the royal family," The Times said.Starmer will also meet with Trump this month when the Republican leader is expected to visit Scotland, where he has two golf resorts.The visit has not been publicly confirmed by the White House, but Downing Street said Monday that Trump would be "visiting in a private capacity" and "the prime minister is pleased to take up the president's invite to meet during his stay".Reading the letter aloud in the Oval Office in February, Trump said he had been invited to the historic Windsor Castle, near London, one of the royal family's ancient homes.After reading the letter, Trump said of Charles: "He's a beautiful man, a wonderful man -- I've gotten to know him very well, actually. First term and now second term."He added: "On behalf of our wonderful First Lady Melania and myself, the answer is yes and we look forward to being there and honouring the King and honouring really your country."Unlike Macron, who addressed the British parliament during his state visit last week, Trump is not currently scheduled to address the House of Commons which will be then on a break.
During the French leader's visit last week, Britain laid on a pomp-filled welcome, including a horse-drawn procession and a lavish banquet in the castle where the leaders hailed a new era in UK-France relations.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
an hour ago
- Zawya
Currency FOMO may yet draw US investors overseas: Mike Dolan
(The opinions expressed here are those of the author, a columnist for Reuters.) LONDON - The dollar's drop this year has supercharged the outperformance of global equities over Wall Street, yet U.S. investors remain heavily underweight foreign stocks. Americans playing catch-up could well magnify the gulf in returns through the rest of 2025. Investment strategists have spent much of the past three disruptive months poring over blizzards of data on cross-border fund flows, largely to support the narrative that foreign capital is fleeing U.S. assets due to President Donald Trump's policy upheavals. As is often the case, the reality is more prosaic than the fearful hand-wringing. Morgan Stanley's recent dive, for example, showed ongoing foreign demand for U.S. equities, just at a slower pace following the April 2 tariff shock. If anything, they found U.S. investors were marginal net sellers of domestic equities. "The sheer size of the U.S. stock market means it should still receive inflows, just less of them," Morgan Stanley's team concluded. And now that U.S. stock benchmarks are back at record highs after a 20% round trip, the mood has turned somewhat. The thinking in some quarters at least is that - tariff fears notwithstanding - the storm has passed and Wall Street can rely on tax cuts, renewed tech enthusiasm and deregulation. But the stark outperformance by many non-U.S. markets so far this year could yet mean 'FOMO' - or fear of missing out - may now come into play for U.S. savers looking abroad - mirroring the global scramble to load up on Wall Street in recent years. At the very least, more significant and overdue rebalancing of U.S. investment portfolios may be in store. The dollar's 10% decline against major developed market currencies in the first half of 2025, and its 13% swoon against the euro in particular, is a key catalyst - potentially both driving and feeding off the investment switch. The MSCI all-country index that excludes U.S. stocks has climbed almost 17% this year, almost three times the 6% gain in the S&P500, flattered by currency gain on that index of more than 8%. In dollar terms, euro zone stocks have zoomed 27% higher so far this year, while Germany's DAX boomed by 37% and Hong Kong's index is up 20%. OVERSEAS FOMO David Kelly, Chief Global Strategist at JPMorgan Asset Management, makes the point that after years of exceptional U.S. stock gains, most investors are still heavily underweight non-U.S. assets. The prospect of further dollar weakness from here could well draw them out. "Even if it were an even bet whether the dollar and the exceptionalism premium would rise or fall going forward, investors are not positioned as if it were an even bet," Kelly wrote this week. "Prudence suggests they should spread their bets." Morningstar strategist Amy Arnott noted how imbalanced a U.S. investors' portfolio holdings could now be simply as a result of inertia during years of massive U.S. gains. An investor who started out five years ago with a portfolio mix of about two-thirds U.S. stocks and one-third international, and never rebalanced, would now hold about 71% of their portfolio in U.S. stocks, she reckoned. The most recent fund flow data showed assets in international funds totalled about $4.6 trillion, about 26% of the total in all U.S. active and exchange traded funds. Arnott points out that a more balanced market cap-based weighting would put 37.7% in international stocks. The argument for rebalancing is compounded by the much cheaper valuations available outside the U.S. and risk of exposure to the dollar. "It's impossible to know if international stocks will lead or lag over any given period, but a healthy dose of international exposure can help insure you're not overly exposed to trends in the U.S. market," the Morningstar strategist wrote. Of course, any move to rebalance now comes with numerous warnings about chasing overseas returns based on recent performance. How will the relative economies perform, and how will interest rates shift? How will the trade war pan out? What about sectoral biases and tech? What's more, there's also some debate about whether the fraught global policy environment will just result in the return of home bias, much as Trump's economic team would seem to favor. If that were the case, this trend may benefit Europe if the trillions the continent's savers have currently parked in the U.S. were repatriated - although it would also see U.S. investors just hunker down at home. The decider may well be further dollar weakness - also assumed to be a welcome development by the Trump administration. Global fund managers are already registering their most underweight position in dollars in 20 years, according to the most recent Bank of America survey, so perhaps the flight from the greenback is partly played out. But if dollar weakness resumes and snowballs - which could be the case as U.S. interest rates tumble and trade and fiscal deficits yawn wider - U.S. investors may find it impossible to ignore the lure of foreign shores. The opinions expressed here are those of the author, a columnist for Reuters


Gulf Today
2 hours ago
- Gulf Today
Trump threatens Russia with tariffs if war on Ukraine isn't resolved within 50 days
President Donald Trump said on Monday he would punish Russia with tariffs if there isn't a deal to end the war in Ukraine within 50 days. The Republican president made the announcement during an Oval Office meeting with Nato Secretary-General Mark Rutte. "We're going to be doing very severe tariffs if we don't have a deal in 50 days," Trump said. He did not provide specifics on how the tariffs would be implemented. "I use trade for a lot of things," he added. "But it's great for settling wars.' Meanwhile, Trump's special envoy to Ukraine and Russia met with Ukrainian President Volodymyr Zelensky in Kyiv on Monday, as anticipation grew over a possible shift in the Trump administration's policy on the three-year war. Rutte also planned to hold talks with US Defence Secretary Hegseth and Secretary of State Marco Rubio, as well as members of Congress. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Trump has long boasted of his friendly relationship with Putin, and after taking office in January repeatedly said that Russia was more willing than Ukraine to reach a peace deal. 'DICTATOR WITHOUT ELECTIONS' At the same time, Trump accused Zelensky of prolonging the war and called him a "dictator without elections." But Russia's relentless onslaught against civilian areas of Ukraine wore down Trump's patience. In April, Trump urged Putin to "STOP!" launching deadly barrages on Kyiv, and the following month said in a social media post that the Russian leader " has gone absolutely CRAZY!" as the bombardments continued. "I am very disappointed with President Putin, I thought he was somebody that meant what he said," Trump said late Sunday. "He'll talk so beautifully and then he'll bomb people at night. We don't like that." Zelensky said he and Trump's envoy, retired Lt. Gen. Keith Kellogg, had "a productive conversation" about strengthening Ukrainian air defenses, joint arms production and purchasing US weapons in conjunction with European countries, as well as the possibility of tighter international sanctions on the Kremlin. Associated Press


Zawya
2 hours ago
- Zawya
China's Q2 GDP growth tops forecast even as US tariff risks mount
BEIJING: China's economy grew at a slightly faster pace than expected in the second quarter, showing resilience in the face of U.S. tariffs, though analysts warn of intensifying headwinds that will ramp up pressure on policymakers to roll out more stimulus. The world's No. 2 economy has so far avoided a sharp slowdown in part due to a fragile U.S.-China trade truce and policy support, but markets are bracing for a weaker second half as exports lose momentum, prices continue to fall, and consumer confidence remains low. Data on Tuesday showed China's gross domestic product (GDP) grew 5.2% in the April-June quarter from a year earlier, slowing from 5.4% in the first quarter, but just ahead of analysts' expectations in a Reuters poll for a rise of 5.1%. On a quarterly basis, GDP grew 1.1% in April-June, the National Bureau of Statistics data showed, compared with a forecast 0.9% increase and a 1.2% gain in the previous quarter. Investors are closely watching for signs of fresh stimulus at the upcoming Politburo meeting due in late July, which is likely to shape economic policy for the remainder of the year. Beijing has ramped up infrastructure spending and consumer subsidies, alongside steady monetary easing. In May, the central bank cut interest rates and injected liquidity as part of broader efforts to cushion the economy from U.S. President Donald Trump's trade tariffs. Further monetary easing is expected in the coming months, while some analysts believe the government could ramp up deficit spending if growth slows sharply. But China observers and analysts say stimulus alone may not be enough to tackle entrenched deflationary pressures, with producer prices in June falling at their fastest pace in nearly two years. Data on Monday showed China's exports regained some momentum in June while imports rebounded, as factories rushed out shipments to capitalise on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. China is aiming for full-year growth of around 5%. The latest Reuters poll projected GDP growth to slow to 4.5% in the third quarter and 4.0% in the fourth, underscoring mounting economic headwinds as U.S. President Donald Trump's global trade war leaves Beijing with the tough task of getting households to spend more at a time of uncertainty. June activity data also released on Tuesday painted a mixed picture - industrial output grew 6.8% year-on-year in June, quickening from the 5.8% pace in May and beating forecasts, but retail sales growth slowed down. Fixed-asset investment grew 2.8% in the first six months from a year earlier, slowing from 3.7% in January-May and missing analysts' forecast of 3.6%.