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Despite ‘spy’ scandal, Philip Hammond says Britain should now adopt a ‘pragmatic approach to Beijing’

China should be encouraged to build electric cars and renewable energy technology in the UK as part of a new pragmatic trading relationship that would benefit both countries, a former Tory chancellor has said ahead of a landmark visit by Rachel Reeves to Beijing early in the new year.

Philip Hammond, who was chancellor from 2016 to 2019, and the last UK minister to take part in formal economic discussions with China before the process was abruptly ended, told the Observer that while Reeves should never “compromise security for trade”, there were vital economic sectors where deals could be struck.

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0.11

Bearish/Bullish

22.12.24 02:41

by theguardian.com

Trump threatens to take back Panama Canal over ‘ridiculous’ fees

Trump also warns he would not let a ‘vital national asset’ for the US fall into the ‘wrong hands’

Donald Trump has demanded that the Panama Canal be given back to the US if Panama did not manage the waterway in a fashion that was acceptable to him – and he accused the central American country of charging excessive rates for use of the ocean-connecting ship passage.

“The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the US,” Trump wrote on his Truth Social platform late Saturday, a little more than a month before the start of his second US presidency. “This complete ‘rip-off’ of our Country will immediately stop….”

Reuters contributed reporting

Panama