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.
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U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so.
The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50%, a White House official told on Thursday.
U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 12 October, covering the latest developments you need to know.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Thailand’s Queen Mother Sirikit, a global style icon and patron of Thai silk who helped revive the monarchy’s standing after World War II and later occasionally stepped into politics, has died aged 93, the Royal Household Bureau said on Saturday.
The U.S. allegedly carried out its first night strike of a regional counter-drug campaign in the Caribbean, killing six suspected "narco-terrorists" on a vessel linked to the Tren de Aragua gang, Defense Secretary Pete Hegseth said.
Colombian President Gustavo Petro has condemned U.S. military operations against vessels in the Caribbean, which have resulted in dozens of deaths and heightened tensions in the region.
Kremlin spokesman Dmitry Peskov said on Friday that Russian President Vladimir Putin and U.S. President Donald Trump have not ruled out the possibility of a future summit.
Mexican President Claudia Sheinbaum said on Friday (24 October) that trade talks with Washington are progressing well. She declined to comment on U.S. President Donald Trump’s decision to halt negotiations with Canada over Ontario’s anti-tariff advertisement.
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