WeekDay AM: 10 Things you need to know this morning
Tariff exemptions, EU defence spending, and complaints about the Brits

 
today's trade story

Trump expands tariff exemptions

What happened
Donald Trump has signed an executive order delaying tariffs on all products from Mexico and Canada that are covered by North America's free trade pact for a month. It is the second time in two days that the US president has rolled back his taxes on imports from America's two biggest trading partners.

Who said what
The executive orders are a "significant walk-back of the administration's signature economic plan that has rattled markets, businesses and consumers", said CNN.

Trump dismissed the suggestion that he was signing the orders due to concerns about the stock market. "Nothing to do with the market; I'm not even looking at the market because, long term, the United States will be very strong with what's happening."

Mexican President Claudia Sheinbaum said "virtually all" of Mexico's trade with the United States was included in the US-Mexico-Canada Agreement. But a White House official "added some nuance to that argument", said CNN, by suggesting that tariffs were more likely to cover about 50% of US imports from Mexico, while 62% of the imports from Canada may still face the impost.

What next?
The decision to suspend the tariffs "did little to calm financial markets", said The New York Times. The S&P 500 tumbled another 1.8% yesterday, taking losses for the index this week to 3.6% and putting it "on course for its worst week since a banking crisis two years ago".

 
 
today's europe story

EU leaders agree huge boost in defence spending

What happened
European leaders have endorsed plans to massively increase defence spending amid growing uncertainty over Donald Trump's support for the continent's security.

Who said what
Denmark's Prime Minister Mette Frederiksen encapsulated the tone of the meeting, saying Europe must "spend, spend, spend on defence and deterrence".

The 27 EU leaders agreed to loosen budget restrictions so that willing countries can increase their military spending and urged the European Commission to seek new ways "to facilitate significant defence spending at a national level in all member states", said a statement. The EU's executive branch estimates that about €650 billion (£545 billion) could be freed up in this way.

What next?
The announcement comes "amid a drive to shore up support for Ukraine after Donald Trump halted US military aid and intelligence sharing", said The Guardian.

"We must hope for the best, but hope is not a policy," said Frans Timmermans, a former vice-president of the European Commission, in an opinion article for the paper. "Member states must stop squabbling over trivial matters. Ukraine needs all the arms we can send."

 
 
Today's music story

Hundreds of complaints rock Brit Awards

What happened
Ofcom has received more than 800 complaints about the Brit Awards, mostly over US singer Sabrina Carpenter's racy pre-watershed performance and the outfit chosen by British pop star Charli XCX (pictured above).

Who said what
Carpenter's "raunchy" set, which "saw the US pop star get down on her knees in front of a 'King's Guard'", attracted a backlash on social media as it aired, said the Daily Mail.

Charli XCX’s black see-through dress was another source of complaints to the regulator. "I heard that ITV were complaining about my nipples," said the "Brat" star while accepting one of her five awards. "I feel like we're in the era of 'free the nipple' though, right?"

What next?
An Ofcom spokesperson confirmed that the watchdog was "assessing the complaints", but it has yet to decide if it will investigate.

In 2021, the watchdog received a record 58,000 complaints after Piers Morgan made disparaging comments about the Duchess of Sussex, although it ultimately ruled that ITV had not violated broadcasting regulations.

 
 

It's not all bad

Londoners are breathing cleaner air following the expansion of the Ultra Low Emission Zone (Ulez), a new report has found. Pollution levels have dropped significantly, particularly in the city's most deprived areas. Mayor Sadiq Khan hailed the scheme's success, saying it had improved public health and removed polluting cars from roads. Experts also praised London's efforts, with studies showing that the air quality has improved at 99% of monitoring sites since Ulez began in 2019.

 
 
under the radar

US foodies have no appetite for tariff war

American gourmets are scrambling to stock up on their favourite imported foodstuffs before Donald Trump's costly tariffs inflate prices on the shelves.

Tariffs are a "disastrously bad idea", wrote James Surowiecki for business brand Fast Company. They lead to "higher prices on everything", from coffee and tea to bananas and strawberries – which is why some US consumers are stockpiling their larders while they can.

With tariff trepidation spreading, readers of The New York Times have been sharing their tales of cupboard stashing. "I call it my strategic coffee reserve," said one reader, who bought 16lbs of Colombian coffee at Costco the day after Colombia was threatened with tariffs. "I like looking at it. It makes me feel safe." Other readers have built up a surplus of Canadian maple syrup, Mexican avocados ("rock hard and in bulk") and EU olive oil.

Perhaps most importantly of all – and beyond all the high-end foodie fears – Trump's "tariff war" with its closest neighbours will "hit Americans where it hurts: in the French fries", said Canada's The Globe and Mail.

The US imports $4.8 billion (£3.7 billion) in canola oil and $1.7 billion (£1.3 billion) in frozen French fries from Canada every year. And surely the "thought of replacing 'Do you want fries with that?' with 'Can you afford fries with that?' is a threat to the American way of life".

It could also prove "too much to bear" for the American "who matters most": President Trump has "long expressed a love" for a Big Mac and fries.

 
 
on this day

7 March 1965

State troopers attacked 600 peaceful Black protesters in Selma, Alabama during an attempted civil rights march to Montgomery. Hundreds were injured, but the video footage of what became known as "Bloody Sunday" shocked the nation, galvanised Congress and led to the passing of the Voting Rights Act.

 
 
Today's newspapers

The Independent reports on Russia's warning that Keir Starmer's peace plan for Ukraine would trigger "direct war". Around 20 countries are said to be considering deploying peacekeeping troops to Ukraine as part of the PM's proposed post-war settlement, says The Telegraph. The Independent leads on the chancellor's warning that Gen Z jobless will face benefits cuts if they aren't looking for work. Meanwhile, The Guardian splashes on this year's Glasto line-up which will see Olivia Rodrigo, Neil Young and the 1975 "take centre stage".

See the newspaper front pages

 
 
tall tale

Snackémon

A Cheeto crisp that resembles the Pokémon character Charizard has sold at an online auction for $87,840 (£68,200). Collectors across the world competed for the "three-inch long Flamin’ Hot snack", which comes attached to a custom Pokémon card, said Today. The "Cheetozard" is the latest in a series of "uniquely shaped Cheetos" to have fetched an eye-watering sum. In 2017, a Cheeto shaped like viral gorilla Harembe sold on eBay for $99,900 (£77,500).

 
 

Morning Report was written and edited by Arion McNicoll, Harriet Marsden, Sorcha Bradley, Abby Wilson, Ross Couzens, and Chas Newkey-Burden, with illustrations by Julia Wytrazek.

Image credits, from top: David Ryder / Bloomberg / Getty Images; Dursun Aydemir / Anadolu / Getty Images; Mike Marsland / Redferns / Getty Images; Illustration by Julia Wytrazek / Getty Images.