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Can a Labour prime minister get on well with a Republican US president? Or a Conservative PM with a Democrat in the White House?

The short answer is yes, absolutely.

There are plenty of examples of a good relationship and close bond between a Labour prime minister and Republican president. And vice versa.

Indeed, some prime ministers and presidents from seemingly opposing political parties have bonded for the simplest or most trivial reasons. Cigars, toothpaste and burgers, for example.

And it’s not always rosy between prime ministers and presidents of the two sister parties. There have been some big fallings out: over Suez, Vietnam and the Caribbean island of Grenada.

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Starmer says the ‘special relationship’ is ‘as important today as it has ever been’

But never has a British Labour prime minister faced such special challenges in maintaining the “special relationship” with a Republican president as Sir Keir Starmer does right now.

It’s not just policy differences – on issues such as trade tariffs, Ukraine, Israel, defence spending, Brexit and climate change – that divide Downing Street and the White House right now.

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Never before has an incoming president faced such a tirade of brutal insults from senior members of a UK government like those hurled at him by leading members of Sir Keir’s cabinet.

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He’s a “racist KKK and neo-Nazi sympathiser”, (David Lammy, 2017), an “odious, sad little man”, (Wes Streeting, 2017) and “a racist misogynistic, self-confessed groper”, (Ed Miliband, 2018). And that’s just a sample.

That’s not all. Last month, the Republican Party filed a legal complaint after almost 100 Labour Party aides flew to the US to campaign for Kamala Harris, alleging “blatant foreign interference” in the presidential election.

Critics, led by the new Tory leader Kemi Badenoch, have accused Sir Keir and his party of playing student politics by picking a fight with the most powerful man in the world. And someone who’s notoriously vindictive.

It was all very different 80 years ago (critics would also say that political leaders were real statesmen back then).

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Badenoch calls out Lammy at PMQs

The phrase “special relationship”, describing the alliance between the UK and US, was first used by Winston Churchill in a speech in Missouri in 1946, in which he also coined the phrase “the Iron Curtain”.

That speech was introduced by president Harry Truman, a Democrat, with whom Churchill had attended the Potsdam Conference in 1945 to negotiate the terms of the end of the Second World War.

They were close friends and would write handwritten letters to each other and addressed one another as Harry and Winston. Truman was also the only US president to visit Churchill at Chartwell, his family home.

Churchill also had a close relationship with another Democrat president, Franklin D Roosevelt. Their close bond during the Second World War was described as a friendship that saved the world.

Prime Minister Winston Churchill, left, of Great Britain and President Franklin Roosevelt faced reporters at the White House in Washington on Dec. 23, 1941 at a press conference in which the heads of two great world powers linked in a common war expresses confidence in victory. Churchill, with his customary black cigar, emphasizes his reply to a question with a gesture. (AP Photo)
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Prime minister Winston Churchill and president Franklin Roosevelt at the White House in Washington on 23 December, 1941. Pic: AP

One reason they got on famously was that they were both renowned cigar smokers. Like Churchill, Roosevelt’s cigar smoking was a widely reported part of his public persona after he became president.

But after Churchill’s bromances with Democrat presidents, his Conservative successor Anthony Eden fell out badly with the Republican president Dwight Eisenhower over the Suez Crisis in the mid-1950s.

And it was a Conservative prime minister and a Democrat president with seemingly nothing in common, the stuffy and diffident Harold Macmillan and the charismatic John F Kennedy, that repaired the damage.

“Between them they had rescued the special relationship after the rupture of the Suez Crisis, and done so at a time of uniquely high tensions around the world,” wrote British author Christopher Sandford in Harold And Jack, The Remarkable Friendship Of Prime Minister Macmillan And President Kennedy.

Harold Macmillan John F. Kennedy at Andrews Air Force Base.
Pic AP
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Harold Macmillan and John F Kennedy at Andrews Air Force Base. Pic: AP

It was the early 1960s and these were dangerous times, rather like now, of course. Back then it was the Berlin Wall, the Cuban missile crisis and threat of nuclear weapons.

“Through it all, the two leaders had exchanged not only formal messages but also a steady flow of handwritten notes, Christmas and birthday cards, congratulations, and, on occasion, condolences,” Sandford wrote.

But it was a relationship abruptly cut short in 1963, by “supermac’s” demise caused by the John Profumo sex scandal and then JFK’s assassination in Dallas just a month later.

“Like many of those who came into the Kennedys’ orbit,” the Washington Post wrote, “Macmillan was enchanted by Jacqueline Kennedy, and she seems to have happily entered into a father-daughter relationship with him that lasted long after her husband’s assassination.”

John F. Kennedy with John Diefenbaker and  Harold MacMillan, during luncheon at Balhi Hai, Bermuda in 1962.
Pic: AP
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John F Kennedy with Harold MacMillan, during lunch in Bermuda in 1962. Pic: AP

After Kennedy, the so-called “special relationship” cooled once again during the tenure of Labour’s Harold Wilson and Democrat Lyndon Johnson, when Wilson rejected pressure from Johnson to send British troops to Vietnam.

And even though Margaret Thatcher and Ronald Reagan were ideological soulmates, Thatcher was furious when she wasn’t consulted before the Americans invaded Grenada in 1983 to topple a Marxist regime.

Even worse, according to Thatcher allies, a year earlier Reagan had stayed neutral during the Falklands war. Reagan said he couldn’t understand why two US allies were arguing over “that little ice-cold bunch of land down there”.

Margaret Thatcher admiring Ronald Reagan's bear design silver cufflinks when the former California Governor visited her office.  She is holding a silver dollar medallion presented to her by Mr Reagan.
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Margaret Thatcher was frustrated with Ronald Reagan over his position on the Falklands. Pic: PA

Long before the accusations of Starmer’s Labour meddling in the Trump-Harris election, the Tories were accused of dirty tricks in the Bill Clinton-George HW Bush presidential election of 1992.

During the campaign the Home Office checked immigration nationality records to see whether Clinton applied for British citizenship while a student at Oxford University to escape the Vietnam draft. It wasn’t true.

US President Bill Clinton, left, toasts with British Prime Minister John Major during a formal dinner at the Prime Minister's official residence at No. 10 Downing Street, November 29
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US president Bill Clinton held a toast with John Major during a dinner at Downing Street. Pic: PA

Then prime minister John Major issued a grovelling public apology and Clinton was forgiving. In 1994 the “special relationship” received a huge boost when the president took Major to the home in Pittsburgh where his grandfather and father lived and worked.

Then it was back to Washington where Major became the first foreign leader to stay overnight in the Clinton White House. But as well as the flattery, the pair worked closely in the early stages of the Northern Ireland peace process.

Clinton’s political soulmate, of course, was Tony Blair. They were as close as Reagan and Thatcher. But it was with the Republican George W Bush that Labour’s Blair embarked on the defining mission of his premiership, the Iraq war.

Tony and Cherie Blair accompany U.S. President Bill Clinton and Hillary Clinton as they depart the White House February 6 enroute the presidential retreat at Camp David. The Blairs will spend Friday night and Saturday night with the Clintons at Camp David before leaving Washington early Sunday morning...CLINTON BLAIR
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The Blairs spent two nights with the Clintons at Camp David. Pic: AP

George “Dubya” Bush had defeated Clinton’s vice president Al Gore in the bitterly contested presidential election of 2000 and in early 2001 he entertained Blair at Camp David. It was to prove to be a historic encounter.

“He’s a pretty charming guy,” the president gushed at their news conference. “He put the charm offensive on me.” How many times have we heard that said about Tony Blair?

Then it got deeply personal. They were asked if they’d found something in their talks that they had in common. “Well, we both use Colgate toothpaste,” the president replied.

Quick as a flash, an embarrassed Mr Blair intervened: “They’re going to wonder how you know that, George.”

President George W. Bush and British Prime Minister Tony Blair walk together as they tour the grounds of Camp David February 23, 2001. The meeting is Bush's first with a European leader as he and Blair seek to reaffirm the special relationship which exists between the U.S. and Britain.
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Tony Blair and George W Bush first met in 2001. Pic: Reuters

The war was the turning point of Blair’s decade in Number 10. He was branded a liar over claims about Saddam Hussein’s “weapons of mass destruction”, he was vilified by the Labour left and it was the beginning of the end for him.

Some years later, the Tory prime minister sometimes called the “heir to Blair”, David Cameron, bonded over burgers with the Democrat president Barack Obama, serving a BBQ lunch to military families in the Downing Street garden.

Britain's Prime Minister David Cameron (L) and U.S. President Barack Obama serve food to a guest at a barbecue in the garden of 10 Downing Street, in central London May 25, 2011. U.S. President Barack Obama and British Prime Minister David Cameron on Wednesday will stress a united effort to pressure Libyan leader Muammar Gaddafi to step down, while glossing over differences between their two governments. REUTERS/Matt Dunham/Pool (BRITAIN - Tags: POLITICS IMAGES OF THE DAY)
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David Cameron and Barack Obama served burgers to guests in the Downing Street garden in 2011. Pic: Reuters

They seemed unlikely allies: Obama the first African-American president and Cameron the 19th old Etonian prime minister. It was claimed they had a “transatlantic bromance” in office.

The two leaders were often pictured together playing ping-pong or golf, eating burgers or watching a basketball game. “Yes, he sometimes calls me bro,” Cameron once said of president Obama.

Cameron even persuaded Obama to help the Remain campaign in the 2016 Brexit referendum, when he claimed the UK would be “at the back of the queue” on trade deals with the US if it left the EU.

U.S. President Barack Obama and British Prime Minister David Cameron smile after Obama missed a putt during a round of golf at The Grove golf course in Watford, England April 23, 2016.REUTERS/Kevin Lamarque
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David Cameron and Obama also enjoyed a round of golf. Pic: Reuters

Which brings us, neatly, to Sir Keir and president-elect Trump and the prime minister’s hopes of building a special relationship.

On the plus side, the president likes the UK – his mother was Scottish and he owns two golf courses in Scotland. And we’re told by Sir Keir that the dinner at Trump Tower in September went well. The mouthy Mr Lammy admitted he was even offered a second portion of chicken. “He was very gracious,” he claimed.

On the other hand, neither the prime minister nor the president smoke cigars, like Churchill and Roosevelt did. We’re not sure which toothpaste they use, unlike Bush and Blair, either.

Donald Trump works behind the counter during a visit to McDonald's in Feasterville-Trevose.
Pic Reuters
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Donald Trump served fries to customers at a fast food chain during the election campaign. Pic: Reuters

And while the president obviously likes burgers – he famously flipped them in a McDonald’s during the election campaign – and steak, well done, with ketchup, Sir Keir is vegetarian, though he does eat fish.

But if even a stuffy old toff like Harold Macmillan can get on well with the flamboyant JFK and glamorous Jackie Onassis, there’s hope for Sir Keir and that much-vaunted “special relationship”.

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Crypto stocks down, IPOs punted amid tariff tumult

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Crypto stocks down, IPOs punted amid tariff tumult

Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans. 

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president. 

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries. 

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war. 

Crypto stocks down, IPOs punted amid tariff tumult

Bitcoin miners sold off on Trump’s tariff news. Source: Morningstar

Related: Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar. 

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously. 

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

Crypto stocks down, IPOs punted amid tariff tumult

Strategy’s shares also dropped this week. Source: Google Finance

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence. 

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1. 

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans. 

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

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Brazilian court authorizes crypto seizure for debt collection — Report

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Brazilian court authorizes crypto seizure for debt collection — Report

Source: STJnoticias

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview. 

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.” 

Related: Brazil’s data watchdog upholds ban on World crypto payments

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis. 

Brazilian court authorizes crypto seizure for debt collection — Report

In Latin America, only Argentina has higher crypto penetration in terms of value received as of June 2024. Source: Chainalysis

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company. 

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor. 

Related: Brazilian lawmaker introduces bill to regulate Bitcoin salaries

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‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

Politics latest: Could the UK retaliate against Trump?

The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

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Sir Keir Starmer held a roundtable with the creators of the Adolescence TV drama.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

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“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

Harriet Harman said the government should impose time limits on inquiries
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Baroness Harriet Harman

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

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