Syrian President al-Sharaa makes landmark Visa payment as country reconnects with global financial system
A restaurant payment with a Visa card in Damascus has become a symbol of Syria’s reconnection with the global financial system....
BEIJING, Feb 20, 2025 – China is “doing its best” to push for talks with the European Union over tariffs imposed on Chinese-made electric vehicles, a commerce ministry spokesperson said on Thursday.
The comments come nearly four months after the EU raised import duties to as high as 45.3% in October following an anti-subsidy probe into Chinese firms.
"He Yadong, a spokesperson for China’s commerce ministry, said, 'China has been doing its best to push for negotiations with the EU. It is hoped that the EU will take notice of the call from industry and promote bilateral investment cooperation through dialogue and consultation,'" Reuters reported.
The increased tariffs were implemented after the European Commission launched an investigation to determine if Chinese manufacturers benefited from preferential grants, financing, land allocations, and access to batteries and raw materials at below-market prices.
In addition to pressing for tariff talks, China has initiated its own investigations into imports of several European products, including brandy, dairy, and pork. When asked about the progress of these cases, He noted that China’s anti-dumping probe into Europe’s pork products and its anti-subsidy investigation into the EU dairy trade were still ongoing. "We will conduct the investigation in an open and transparent manner in accordance with Chinese laws and regulations and World Trade Organization rules," he added.
China’s commerce ministry recently extended its anti-dumping investigation into EU brandy imports by three months, with the new deadline set for April 5.
The push for renewed negotiations comes as both sides continue to assess and recalibrate their trade policies amid broader economic tensions. While the EU maintains its stance on protecting its domestic industries, Chinese officials emphasize the need for dialogue to resolve disputes and foster closer bilateral investment cooperation.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Rescuers in Nepal used helicopters on Thursday to scour for hundreds still missing after a wall of mud and rock collapsed into a river on the Himalayan border with China's Tibet, sending catastrophic floods through towns and valleys, killing 162 people.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remains disproportionately small compared with their population, strategic location and resources.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Kazakhstan has received a fresh vote of confidence in its economy after S&P Global Ratings upgraded the country’s credit rating, citing stronger public finances, solid reserves and steady economic growth.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2024, according to ICD-LSEG, as more countries explore Shariah-compliant finance.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
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