'Reeves is driving up prices' and William's 'hardest year'

Trump with his wife Melania (left) and his new chief of staff, Susie Wiles (right)

The Times reports that Donald Trump wants to make a "quick start" on tariffs and tax cuts with advisers drawing up plans for his first 100 days back in office. The paper says his goal of "re-ordering" the global economic order already has America’s trading partners across Europe and Asia frantically drawing up contingency plans on how to respond.

The Guardian leads on Joe Biden's first speech at the White House since Trump's victory and his pledge of a peaceful transition. It says the outgoing president sought to defend his legacy. According to the paper, he faces growing resentment from Democratic Party supporters over his role in Trump's victory "as the scale of defeat sinks in".

The Financial Times also points to the "blame game" over Kamala Harris's heavy defeat. A former Democratic campaigner tells the FT that recriminations are raging in the party, with some blaming Biden and others Harris.

The i carries a warning from security sources that Trump could threaten to hold back intelligence from the UK "as a bargaining chip". The paper says three agents have told it that the president-elect could select "yes men" willing to curtail information-sharing as a lever to push the UK on key policy issues, such as the Russia-Ukraine war.

The Independent reports that Sir Keir Starmer is facing increasing pressure to prioritise a new post-Brexit defence pact with the EU because of concerns that Trump may also dilute support for Nato and focus US military objectives elsewhere. The prime minister is attending a European security summit in Budapest, the first time international leaders have gathered since Trump’s victory.

The Daily Telegraph leads with the headline "Reeves is driving up prices, warns Bank" - a reference to a Bank of England warning that last week's Budget could add to inflation next year. The paper says Rachel Reeves's "tax-and-spend Budget" is piling pressure on families and reports that lenders have been raising mortgage costs despite the Bank's interest rate cut to 4.75%.

Prince William visiting South Africa this week

Prince William's stark words about a "brutal" past year feature on most of the front pages. The Daily Mail says the "emotional" prince spoke candidly at the end of his visit to South Africa about his wife and father’s cancer diagnoses. "Hardest year of my life," reads the Sun's headline. The Times calls it "William's own annus horribilis" echoing the late Queen's summation of her year at the end of 1992.

Finally, the Daily Mail says there is a perfect German word for the kind of gloomy weather much of Britain has been experiencing in recent weeks. The paper explains that dominant high pressure - which leads to warm and sunny days in the summer - often brings "anti-cyclonic gloom" at this time of year, otherwise known as dunkelflaute, which roughly translates as "dark doldrums".

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