The European Commission is engaging with industries to address U.S. tariffs, focusing on countermeasures to protect European businesses from price hikes and economic uncertainty.
European Commission President Ursula von der Leyen held discussions with representatives from the metals and automobile industries on Monday to address the response to U.S. tariffs. The talks aimed to gather data for further counter-measures, with the EU's planned response to U.S. steel duties to be voted on later this week. A call with the pharmaceuticals industry is set for Tuesday.
Stocks in Europe and Asia, along with oil prices, dropped on Monday due to concerns that U.S. President Donald Trump's tariffs could drive up prices, reduce demand, and potentially lead to a global recession. Von der Leyen revealed that the EU would propose a new trade measure from July 2026 to replace current steel safeguards and combat the effects of global overcapacity.
During the metals industry call, participants requested measures to mitigate indirect impacts from the tariffs and urgent action to keep aluminium and steel scrap in the EU. The Commission is considering export duties on scrap sales and has already reduced steel imports by 15% since April 1.
The EU also discussed potential tariff reductions for U.S. car imports, with carmakers such as BMW and Volkswagen advocating for cuts. The call included major industry figures like CEOs from BMW, Volkswagen, and Bosch.
While pharmaceuticals are exempt from the tariffs announced by Trump, the industry is pushing the Commission to clarify plans for boosting manufacturing in Europe. This may involve simplifying regulatory processes to encourage more clinical trials in the region.
A federal judge has halted President Donald Trump’s controversial asylum ban at the US-Mexico border, ruling that the move oversteps his executive p...
Vietnam is set to confirm the purchase of 50 Boeing planes worth $8 billion, alongside agreements to import $2.9 billion in US agricultural products, ...
Conservative Romanian MEP Gheorghe Piperea, who submitted the motion, believes the vote is likely to fail but says it sends a powerful symbolic messag...
G7 foreign ministers urged Iran to urgently resume nuclear talks and full cooperation with the IAEA, condemning calls to arrest its director. The stat...
US President Donald Trump signalled scepticism about reaching a trade agreement with Japan, stating on Tuesday that he doubted a deal would be finalis...
Member countries of South America’s leading trade bloc, Mercosur, have reached an agreement to broaden exemptions to common external tariffs, Argentina’s Foreign Ministry spokesperson announced on Wednesday.
With the tariff deadline fast approaching, German Chancellor Friedrich Merz is pushing for a swift and straightforward trade agreement between the EU and the U.S., as both sides continue talks to avoid a potential economic standoff.
The United Nations Conference on Trade and Development agency (UNCTAD) faces deep staffing cuts amid a global funding crisis, raising concerns about its ability to support developing nations navigating economic shocks like U.S. tariffs.
Canadian Prime Minister Mark Carney and U.S. President Donald Trump agreed Monday to work toward finalizing a new economic and security deal within 30 days, despite ongoing disagreements over tariffs.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
The Pentagon says U.S. strikes on Iranian nuclear sites have degraded Tehran’s programme by as much as two years, following attacks last month that used heavy bunker-buster bombs.
A CIA review has identified procedural flaws in a 2016 assessment that Russia sought to help Donald Trump win the U.S. presidency, but it did not challenge the core conclusion that President Vladimir Putin directed the influence campaign.
Scientists have sequenced the full genome of a man buried in pharaonic Egypt over 4,500 years ago, revealing that about 20% of his ancestry came from Mesopotamia, in a rare discovery linking the two early civilisations.
A federal judge has halted President Donald Trump’s controversial asylum ban at the US-Mexico border, ruling that the move oversteps his executive powers. The decision marks a major legal setback for Trump’s immigration policies and upholds protections for migrants seeking refuge.
Vietnam is set to confirm the purchase of 50 Boeing planes worth $8 billion, alongside agreements to import $2.9 billion in US agricultural products, as part of a wider trade deal. The announcement follows high-level talks between US and Vietnamese officials, signalling strengthened economic ties be
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment