In a speech that was equal parts celebration and self-congratulation, regularly punctuated by applause from the crowd, the president recalled his longtime support of tariffs, as well as his early criticism of free trade agreements like Nafta and the World Trade Organization.
The government generally spends more than it raises in tax. To fill this gap it borrows money, but that has to be paid back - with interest.One of the ways it can borrow money is by selling financial products called bonds.
A bond is a promise to pay money in the future. Most require the borrower to make regular interest payments.UK government bonds - known as "gilts" - are normally considered very safe, with little risk the money will not be repaid.Gilts are mainly bought by financial institutions in the UK and abroad, such as pension funds, investment funds, banks and insurance companies.
Servicing the current national debt in the UK is forecast to take up 7% of total public spending, but that forecast was based on lower government borrowing rates.No.10 said there was "no doubt about the government's commitment to economic stability" and "meeting our fiscal rules is non-negotiable" saying that only the OBR's forecast is an accurate predication of the government's room for manoeuvre.
The clear indication from the government is that although they will not hold another Budget in March, any necessary adjustment would have to come in terms of some new spending cuts.
On Tuesday morning, a £2bn auction of 30 year UK government debt sold at an effective interest rate of 5.18%."We want to do 50% affordable because you need to be breathing new life in to areas that are really struggling to get youngsters to come in," he said.
"It's horrifically expensive as an area."Concerns raised by residents via the council's planning portal included the "very bad precedent" that the development could set in the village given the site's green belt classification.
Others mentioned the "horrendous" traffic situation in Leatherhead Road, with both the M25 and the A3 nearby, and that the new homes may "considerably worsen the situation".Mr Estwick said he understood frustrations regarding transport and that plans would include mitigations like car clubs, cycle paths and better footpaths to the village.