US trade deal 'made by Brexit' and 'Holy smoke'

Many of the papers lead on the deal agreed with the US which scraps or limits some of the tariffs announced by the White House a month ago. The Times highlights the word "historic", used by both Sir Keir Starmer and President Trump to describe the agreement. The I says the UK has won the global race to "shake off" the worst Trump trade tariffs. But the Financial Times reports that the "scope of the deal is limited" and still leaves Britain in a worse position than before the US President began his trade war. Both the Daily Mail and the Sun note that Trump said the deal was only possible because of Brexit.

The Daily Telegraph claims the pact includes a clause allowing the US to object to Chinese firms investing in Britain.  The Conservatives tell the paper this amounts to Trump being handed a "veto" but a government spokesperson has dismissed the claim as "nonsense".

Photographs of the new Pope addressing the crowds at St Peter's Square feature on most of the front pages. The Times says Robert Prevost appeared to be holding back tears. The Guardian says he used his first message to promise to "build bridges".  The Metro focuses on the speed at which the new pope was selected, around 25 hours after the conclave began. The paper's headline is: "Holy Smoke".

The Financial Times reports that the investment firm BlackRock is ending flexible working for senior staff. Two people familiar with the plans have told the paper the company is ordering roughly 1,000 managing directors globally to return to the office five days a week. BlackRock has declined to comment.

And most of the papers reflect on the end of four days of events and celebrations to mark the 80th anniversary of VE Day. Last night the King told crowds at a concert in central London that the sacrifice of the wartime generation should never be forgotten. The Telegraph calls his message a "salute to our VE Day heroes". The Sun says it was a "stirring tribute". The Daily Mirror notes that the King also mentioned his mother, the late Queen Elizabeth II, celebrating the end of the war by dancing the conga in the streets.

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