House prices in the south-east of England fall for first time since 2011 — business live

Rolling coverage of the latest economic and financial news, as UK house price slowdown spreads from London to the South East


In other trade news, the European Union has picked the US products it could hit with new tariffs, in a row over subsidies given to airline maker Boeing.

The list covers $20bn of imports into Europe each year, and hundreds of different item. It includes frozen fish, fresh truffles, dried fruits, vegetable fats, wine, vodka, handbags, bicycle parts and video game consoles.

EU-US TRADE FRICTION UPDATE: Brussels releases list with $20 billion worth of U.S. products that it wants to hit with tariffs in retaliation for unlawful Boeing subsidies. List includes frozen fish, citrus fruits and ketchup. Check it out here:

Some reaction to the US trade data:

For the second straight month, the trade deficit fell in February due to an increase in exports of US-made aircraft, cars and medicine.

The trade deficit with China decreased markedly in February, with exports up 18% and imports down 20%, the Commerce Dept reports.

U.S. trade deficit fell 3.4% in February to $49.4B, marking smallest gap in eight months. Higher exports of autos and airplanes do the trick, but the recent downward trend appears to stem from one-off events that probably aren't sustainable.

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