TRUMP EU TARIFFS
Rubio to visit France on first post-midterm foreign trip to face questions on Trump policies
US Secretary of State Marco Rubio will attend the G7 foreign ministers meeting in France this weekend. This trip follows significant Republican losses in the midterm elections, raising questions about Trump's international policies. Rubio is expected to address various global issues, including the Iran and Russia-Ukraine conflicts. The meeting aims to cover topics like energy security and support for Ukraine amidst ongoing challenges.
Audi may boost size of new US auto plant by $3 billion, add 3,000 jobs
Audi's plans to construct a $4 billion assembly plant in Macon, Georgia, are underway, aiming to produce 200,000 SUVs each year. This venture is projected to generate approximately 4,500 jobs for the community. Supported by generous state incentives and a request for US tariff relief, construction could kick off in the early 2030s, paving the way for future expansions.
Reset will keep India busy as Trump’s midterm loss redraws US politics
The recent US midterm elections have significant implications for international relations and the economy. Incoming policies may impact trade agreements between India and the US, affecting both countries' economies. Additionally, potential conflicts involving Iran could influence energy prices in India, creating economic uncertainty. The evolving political landscape in Washington will require India to adjust its diplomatic strategies.
China trade accord with Swiss bucks wider trend towards protectionism
Chinese President Xi Jinping and Swiss President Guy Parmelin are set to sign a significant trade deal. The accord offers Switzerland extensive market access to China, enhancing the trade relationship between the two nations. This agreement notably contrasts with increasing trade barriers established by the United States and the European Union. Swiss officials believe this deal will provide stability in a volatile global trade environment.
US official warns EU Airbus loan puts trade deal at risk
A US-EU tariff truce could be at risk after the European Investment Bank approved 3 billion euros ($3.4 billion) in financing for Airbus to support research and development. US Trade Representative Jamieson Greer criticised the loan, calling for greater clarity and a swift resolution. The dispute revives longstanding tensions over alleged subsidies to aircraft manufacturers Boeing and Airbus.
India-US ties shift to deal-making as Trump's Iran policy looms
India must adapt to a US relationship driven by pragmatic deal-making, rethink its diaspora policy amid anti-immigrant sentiment, and play a bigger role in easing Iran tensions and shaping the global order.
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US blinks on Russia, India less fluttered
Trump's decision to waive tougher sanctions against Russia aims to ensure US diesel supply until the midterm elections. The waiver, however, is unlikely to significantly impact Russian diesel exports due to damaged refinery capabilities. Furthermore, shipping lines may still face disruptions from ongoing conflicts in the region. India's situation remains complex as it benefits from reduced risks of US tariffs while navigating the oil market.
Christmas cheer, but caution remains: Exporters welcome US tariff relief, keep diversification plans
US President Donald Trump’s decision to waive proposed tariffs of up to 100% on buyers of Russian oil has eased uncertainty for Indian exporters ahead of the crucial Christmas shipping season. However, businesses across textiles, gems and jewellery, and human hair products say they will continue diversifying export markets after last year’s tariff turmoil, even as the US remains a key destination for Indian goods.
As Russia turns to Asia, India a ‘natural option’ for Moscow beyond China, says EAM Jaishankar
India's External Affairs Minister S. Jaishankar emphasized the importance of maintaining strong ties with Russia. He noted that Russia's relationship with Europe has significantly deteriorated since the Ukraine conflict began. Jaishankar mentioned ongoing negotiations for a trade agreement between India and the US are nearing completion. The article outlines the EU's increased sanctions against Russia concerning its military actions in Ukraine.
PM Modi's free trade push could lead to $140 billion GDP gain for India
A more protectionist US could unexpectedly benefit India as New Delhi expands its free-trade agreements (FTAs) to diversify export markets and attract investment. A World Trade Organization-based model estimates that India’s concluded and proposed trade deals, including agreements with the EU and New Zealand, could add about $140 billion to GDP by 2035, lifting it 1.7% above the baseline.
Chinese car makers increasingly rely on overseas markets as September exports surge
China’s passenger car exports jumped 64% year-on-year in September to about 919,000 units as automakers increasingly looked overseas to offset weak domestic demand. Chinese brands are expanding rapidly across Europe, Latin America, Southeast Asia and Africa, but tariffs and geopolitical pushback are pushing companies such as BYD to manufacture more vehicles locally in foreign markets.
ETSA champions show the great Indian dream is all home-brewed and visa-free: Union Minister Piyush Goyal
In a candid conversation with ET’s Deepshikha Sikarwar, he spoke about India’s trade deals, India-US relations, foreign investment, and how Indian businesses will benefit from the restrictions on the green card programme.
France's far-left presidential candidate cheers Gen Z school protests
Jean-Luc Melenchon has celebrated the nationwide high school protests over education issues in France. He has called for lowering the voting age to 16 and ending selective university admissions. Melenchon aims to engage young voters while addressing their grievances with the educational system. His campaign also focuses on lowering the retirement age and canceling national debt. Melenchon believes that young people's political involvement will be crucial for the upcoming election.
Trump sticks with tariffs even as US voters turn against them before the midterms
US President Donald Trump's tariff policies are facing growing economic and political challenges ahead of the November 3 midterm elections, with a majority of Americans reportedly opposing his latest import duties. While the White House argues that tariffs will boost domestic manufacturing, trade experts warn that higher costs are being passed on to US businesses and consumers. The policy has also fuelled trade disputes with major partners, including the European Union, India, Canada and Mexico.
EU and China strike interim trade deal that could cut Chinese hybrid exports
China and the European Union have agreed on a preliminary trade deal to address trade imbalances. This deal includes reduced tariffs on certain European goods and measures for reliable rare earth supply chains. The EU trade commissioner noted that this agreement could significantly decrease Chinese electric vehicle imports. Both sides aim to resolve the underlying factors contributing to China's substantial trade surplus with the EU.
Will EU press the ‘kill switch’ on China? Trade war looms over talks
EU officials are raising alarms over the escalating trade deficits with China, exceeding one billion euros on a daily basis. The spike in Chinese hybrid-car exports underscores possible gaps in EU tariff policies. Although talks are underway, China shows little willingness to engage in voluntary export restrictions for select products. EU leaders are now considering a 'kill switch' mechanism.
Brussels looks to capture Big Tech through tax on large corporations
Brussels is considering taxing big US tech companies through a broad levy on large corporations in an effort to raise revenues for the EU while avoiding a backlash from the Trump administration, the Financial Times reported on Wednesday.
EU, China to hold Beijing talks this week to avert trade war
EU trade chief Maros Sefcovic is set to visit Beijing for crucial discussions regarding trade relations. As European leaders express concerns about unfair competition from Chinese industries, a potential trade war looms. The EU aims to reduce its significant trade deficit with China, which reached around 360 billion euros last year. Sefcovic seeks action on export surges from China and plans to enhance EU's trade defense measures.
India goes FTA shopping at G20 as Piyush Goyal works the room with a cart full of trade deals
India's Commerce Minister Piyush Goyal is actively engaged in negotiations for several trade agreements at the G20 meeting. Talks with the US include an interim pact and finalizing issues for a broader agreement. Discussions with Canada aim to conclude a Comprehensive Economic Partnership Agreement by the end of 2026. Existing trade agreements with the UK and Australia are also under review for their implementation and effectiveness.
G20 trade ministers deadlock on excess capacity, forced labour as US seeks tougher rules
G20 trade ministers met in Milwaukee but failed to reach an agreement on overproduction of goods. The Trump administration accused various countries, especially China, of flooding markets, affecting competition. Tensions between the US and Canada escalated after new tariffs were imposed, raising concerns about trade relations. Discussions on forced labor also did not lead to a consensus among the participating countries.
US to factor trade-deal tariff caps into new duties on excess capacity
US Trade Representative Jamieson Greer emphasized the administration's focus on tariff caps during ongoing investigations. Excess industrial capacity, especially in China, remains a key concern for the US government. Greer indicated that trade agreements play a significant role in managing these issues effectively. The Group of 20 is also addressing China's production policies and seeking reforms through collaboration.
European Union vows to defend its stand against X after the US backs a court challenge from Elon Musk
The European Union imposed a significant fine on social media platform X for regulatory violations. Following this, the U.S. government expressed support for Musk's legal efforts to dismiss the fine. The European Commission emphasised its right to enforce legislation aimed at protecting citizens. This situation has escalated tensions between Brussels and Washington regarding regulatory power. Officials from both sides have engaged in discussions about jurisdiction and implications for American companies.
India left more exposed to Trump's 100% oil threat as China gets tariff breather
India could find itself more exposed to US tariff pressure over Russian oil after Washington and Beijing extended their Busan trade truce until January 10, 2027, according to GTRI. The think tank's founder Ajay Srivastava argues that China's tariff breathing room leaves New Delhi facing greater risk from Trump's new powers to impose tariffs of up to 100% on major buyers of Russian energy.
Canada has prepared for the unthinkable: A military attack by the US
Canadian Prime Minister Mark Carney recently suggested that the possibility of a US military attack is minimal. He emphasized responsibility in assessing extreme and improbable risks while preparing for them. Carney's remarks indicate a growing mistrust in the US and a shift in Canadian defense strategy. Canada seeks to diversify its dependencies and strengthen ties with Europe amidst increasing pressures.
New FTAs provide comfort to invest in global supply chains in India: Commerce Secretary Rajesh Agarwal
India's latest free trade agreements are designed to foster long-term investments within global supply chains, also ensuring tariff stability, Commerce Secretary Rajesh Agarwal said. By tapping into a massive $60 trillion market, these agreements bolster investor confidence, he noted.
Europe’s dangerous dependence puts it on Xi and Trump’s menu
Mark Carney's warning emphasizes the need for middle powers like the European Union to assert themselves. Europe faces significant challenges in technology dependence and military capabilities compared to the US and China. Supply-chain resilience and trade imbalances require urgent action for the EU to enhance its bargaining power. Collaboration with Canada and Ukraine presents opportunities for a stronger geopolitical stance.
After POTUS threatens 'friendship' levies, PM Carney says EU and Canada are stronger together
"Europe and Canada are each strong. Europe and Canada are even stronger together," Carney told EU lawmakers in Strasbourg. "I am not proposing a third bloc in order to become a great-power rival - only with better manners," he continued. "We do not seek power to dominate others. On the contrary, we are pursuing resilience so that no one can control our open markets, impair our sovereignty, threaten our territorial integrity, or undermine our freedoms, our democracies, our rule of law."
Trump threatens to unleash new tariffs on EU over Canada associate membership proposal, calls move ‘hostile act’
US President Donald Trump warned that the European Union could face heavier tariffs if Canada’s proposed associate membership is intended to harm the United States. Calling the prospect “laughable” and Canada a “terrible trade partner”, Trump also suggested Washington could restrict trade with Europe in certain areas.
Carney welcomes a proposal for Canada to become the European Union's first associate member
Canadian Prime Minister Mark Carney welcomed a European Union associate membership proposal. He stated this deeper integration aims to build resilience for both sides. This move seeks to reduce vulnerability to economic and geopolitical pressures. Carney clarified the intention is not to create a rival power bloc. The goal is to enhance sovereignty and independent decision-making capabilities.
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