EU OFFICIALS
A NATO summit and mending EU relations are among first tasks for new UK leader Keir Starmer
British Prime Minister Keir Starmer has been appointed to a new government after a six-week election campaign. Starmer, who has never served in or led a government, has a plethora of lawmakers to choose from, including Treasury chief Rachel Reeves and the new foreign secretary David Lammy. He wants Britain to take a larger role on the global stage after years of soured relations with Europe over Brexit and the inward-looking U.K. political soap opera that followed.
EU banks likely to seek more time for CCIL trade cut-off
Deutsche Bank, BNP Paribas, Credit Agricole, and Societe Generale request a six-month extension from BaFIN and AMF for the October 2024 CCIL trading deadline. This results from ESMA's de-recognition and pending Reserve Bank of India approval for a third-party clearing model proposed in recent ESMA meetings to resolve regulatory conflicts.
Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
EU raises customs duties on Chinese electric vehicles due to unfair subsidies. Tariffs aim to address market imbalance. Negotiations ongoing between EU and China. Concerns about impact on European jobs and green technology production. Uncertainty looms over potential solutions and retaliatory measures.
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
EU governments hesitant on Chinese EV tariffs as trade spat escalates
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries debate supporting tariffs on Chinese electric vehicles in Brussels amid concerns over Beijing's possible retaliation affecting EU exports like cognac and pork.
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Confident of $800 billion exports in FY25: Piyush Goyal
Amidst global challenges, India's export sector is anticipated to thrive under Minister Goyal's projections. Efforts to establish specific targets, navigate FTA negotiations, and preserve diamond export interests are crucial in sustaining India's export growth trajectory.
Ukrainian President Zelenskyy drafting 'comprehensive plan' to end war with Russia
Ukrainian President Volodymyr Zelenskyy announced the creation of a comprehensive plan, aiming for global support to end the conflict with Russia. During a news conference in Kyiv with Slovenian President Natasa Pirc Musar, Zelenskyy emphasized the importance of diplomatic efforts, despite the absence of current negotiations. He reiterated Ukraine's stance that Russia must withdraw from all occupied territories, including Crimea, for peace talks to commence. Recently, Zelenskyy gathered international backing at a summit in Switzerland, highlighting Ukraine's territorial integrity.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
EU slaps fresh curbs on Russia gas shipments
The new restrictions on gas aim to reduce Russia's revenues from liquefied natural gas (LNG) exports by banning trans-shipments off EU ports and a clause allowing Sweden and Finland to cancel some LNG contracts. The measures stop short of an EU ban on LNG imports, which have risen since the start of the war.
Explained: What happens next in the EU investigation into Chinese EVs?
China and the European Commission plan talks to address proposed tariffs on Chinese-made electric vehicles entering the EU, potentially easing tensions. The EU intends to impose provisional duties on these vehicles, ranging from 17.4% to 38.1%, with the deadline set for July 4. Negotiations between the EU and China are expected, with stakeholders having until July 18 to provide feedback. The Commission will publish its findings by July 4, and decisions on provisional duties will follow.
EU and China set for talks on planned electric vehicle tariffs
The confirmation came after China's commerce ministry said its head Wang Wentao, and Dombrovskis, executive vice president of the European Commission, had agreed to start consultations over the EU's anti-subsidy investigation into Chinese EVs.
China and European Union agree to talks in bid to head off trade war
China and the European Union have decided to initiate talks aimed at resolving an increasingly tense tariff dispute, with billions of dollars in trade hanging in the balance. According to the Chinese Commerce Ministry, discussions will be held between China's commerce minister, Wang Wentao, and the European Union's trade commissioner, Valdis Dombrovskis. The focus will be on addressing the European Union's proposal to impose tariffs on electric cars imported from China, a move that has sparked significant concern.
Meloni camp pulls ahead of Macron's in EU parliament
Parliamentary insiders however say the balance of power in the 720-seat European legislature remains essentially unchanged from the last legislature. It lies with a centrist tie-up made up of the conservative European People's Party (EPP), the biggest group with 189 seats, the leftist Socialists & Democrats (S&D) with 136, and the liberal Renew Europe that includes the French president's party.
What happens next in the EU investigation into Chinese EVs?
The European Commission plans to impose provisional duties on electric vehicles (EVs) from China, ranging from 17.4% to 38.1%, in addition to the existing 10% tariff. These duties are set to take effect by July 4 as part of an anti-subsidy investigation to protect EU industry. Following publication of findings on July 4, interested parties have until July 18 to comment before final duties are determined.
Make India key node to verify origin of diamonds, Indian officials tell EU
At a meeting in Brussels last month, the Indian trade body, senior government officials and Indian customs officials have told the European Union authorities that India, which imports about 90% of rough stones mined in the world, should be a key nodal checkpoint to verify whether diamonds mined in Russia are sneaking into the affluent markets whose governments are backing the sanctions.
EU envoys agree on more Russia sanctions. LNG imports are among the targets
EU ambassadors have agreed on new sanctions in response to Russia's invasion of Ukraine. The measures will target imports of Russian LNG and freeze assets of more officials and entities.
China warns EU tariffs on EVs would 'harm' Europe's interests
China criticised the EU's planned additional tariffs on Chinese electric vehicles, warning of harm to Europe's own interests and condemning it as protectionism. The EU Commission is expected to impose fresh duties, potentially up to 25 per cent on top of the existing 10 per cent, sparking concerns about global automobile production and supply chain stability. China urged the EU to uphold free trade commitments and collaborate for mutual economic and trade interests.
France President Macron dissolves French parliament, calls a snap election after defeat in EU vote
The announcement came after the first projected results from France put the far-right National Rally party well ahead in the European Union's parliamentary elections, handing a chastening loss to Macron's pro-European centrists, according to French opinion poll institutes.
Millions will vote on Europe's super Sunday, with surveys suggesting a shift to the right
Voters across 20 European nations are casting their ballots in the EU election super Sunday, with concerns over a potential shift to the political right impacting the bloc's decision-making amidst ongoing conflicts and rising anti-migrant sentiment. Populist parties are expected to make gains, potentially reshaping the European Parliament's dynamics. The elections mark a pivotal moment for the EU's future trajectory and international relationships.
The European Union in five figures
European Union: The 27-nation bloc stretches from the chilly Arctic in the north to the warmer Mediterranean in the south, and from the Atlantic in the west to the Black Sea in the east.
EU carbon tariff: India preps for a fight at WTO
India is considering challenging the European Union's Carbon Border Adjustment Mechanism (CBAM) at the World Trade Organization, which mandates non-EU steel producers to report emissions, impacting sectors like iron and steel, cement, and more.
Police search the European Parliament over possible Russian interference, prosecutors say
Belgium's federal prosecutor's office announced police searches at a European Parliament employee's residence and offices in Brussels and Strasbourg over suspected Russian interference. The investigation involves passive corruption and criminal organization charges, with the employee allegedly promoting Russian propaganda through the Voice of Europe news website
Top EU data regulator says tech giants working closely on AI compliance
Des Hogan, Data Protection Commissioner in Ireland, highlighted the broad powers of national regulators to enforce changes in AI products for data privacy compliance.
Vietnam delays meeting with EU sanctions chief ahead of possible Putin visit
Vietnam's foreign affairs ministry declined a meeting with the European Union's top official on Russian sanctions, citing scheduling conflicts, amidst preparations for a potential visit from Russian President Vladimir Putin. Vietnam's neutral foreign policy stance, abstaining from condemning Russia's actions in Ukraine, has drawn criticism from Western nations. The postponement of the EU envoy's visit is speculated to be linked to Putin's potential visit to Vietnam, which could be overshadowed by the former's presence.
EU launches investigation into Chinese medical device market
The European Commission initiates an inquiry into Chinese procurement of medical devices, suspecting unfair access for European suppliers. Under the EU International Procurement Instrument, the probe may lead to restrictions on Chinese firms bidding in EU tenders. Allegations include 'Buy China' policies and abnormally low bids. China invited for consultations.
European Union official urges G7 to step up air defence for Ukraine and expand Iran sanctions
EU foreign policy chief Josep Borrell was speaking on the sidelines of a G7 foreign ministers meeting on the Italian resort island of Capri, where Russia's war in Ukraine and surging tensions in the Middle East over Iran's unprecedented attack on Israel were topping the agenda.
Top EU officials propose plans to boost bloc's defense in the face of Russian threats
Hindustan Petroleum Corp (HPCL) plans to start operating its new Barmer refinery in Rajasthan, India, by December 2022, using mostly Middle East oil. The refinery is expected to reach full capacity within a year. HPCL plans to buy Middle Eastern heavy oil and Mangala oil from a field in Barmer.
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