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U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

Race Recap: 2013 German Grand Prix is old beginnings, new endings [spoilers]

Just like at Silverstone last weekend, the German Formula One Grand Prix started with Lewis Hamilton putting his Mercedes-AMG Petronas on pole. The only thing missing at the pointy end of the grid was his teammate Nico Rosberg, who lined up beside him in England but back in 11th in Germany because of a team error in qualifying. So instead it was Vettel in the first Infiniti Red Bull in second, his teammate Mark Webber in third, the Lotus duo of Kimi Räikkönen and Romain Grosjean.
Again, just like at Silverstone - and Canada - Daniel Ricciardo used his magic beans to impress with the Toro Rosso, lining up in sixth, followed by Felipe Massa in the first Ferrari, Fernando Alonso in the second. Jenson Button in the McLaren, Nico Hülkenberg finished up the top ten.
When the lights went green, it didn't take long for the race to become a black-and-blue affair...

Lotus confirms new Emira will be its last car powered by gasoline

Lotus is four years into the 10-year Vision80 plan that it announced at its 70th anniversary in 2018, and according to Matt Windle, managing director of Lotus Cars, the brand is "on track" to completely revitalize its line of sports cars as it branches out into profitable new automotive segments. Windle also confirmed the name of Lotus' upcoming new vehicle: "The spirit and passion that gave the world the Elise, Exige and Evora will live on in the next generation of cars – cars like the all-new Lotus Emira." The British company's sports car replacement, previously known as the Type 131, will make its virtual debut on July 6 before being shown in public at the Goodwood Festival of Speed that begins on July 8. Lotus confirmed that the Emira will be offered solely with internal combustion engine options and will not offer hybrid power, and that the powerplant comes from "an exciting new powertrain partnership" with options that are "new to Lotus." The company's Elise, Exige and Evora used four- and six-cylinder engines sourced from Toyota and tuned specifically for high-performance use. The Emira, which will be priced similarly to the Evora, will be the last production Lotus powered by gasoline, and it will be built atop a brand-new "Elemental" platform that relies on the brand's familiar extruded aluminum-intensive chassis. Three more platforms are currently in development, and these four architectures will provide the basis for the company's planned expansion. The next we expect to see in production is the Hypercar architecture that forms the basis of the upcoming Lotus Evija. The electric Evija and its "Extreme" platform will start rolling out of the Hethel headquarters later this year. Lotus' "Evolution" platform is next, and it will underpin "an all-new range of lifestyle vehicles" that "will catapult Lotus into a new era of higher retail volumes and significant revenues." We take that to mean SUVs. This Premium architecture was reportedly designed by Lotus in the UK with collaboration from other brands under the Geely umbrella in China and Sweden and Germany. Finally, Lotus and Alpine have consummated their recently announced partnership and will launch an "E-Sports" platform that will be "will be flexible and modular." We expect a range of electric vehicles on this architecture that could include everything from sports cars and hatchbacks to crossovers and other utility shapes.