Eu Tariffs

European Union readies €100 bn no-deal plan to match US 30% tariff

The tariffs would be prepared to come into force next month but only if there is no deal and the US implements its levies after the August deadline

EU countries agree to exempt most firms from carbon border tariff

Their approval makes it highly likely that the EU will exempt most of the 200,000 importers who were initially set to face the world's first carbon border tariff, due to take effect next year

Stock Market Close: Sensex falls 625 points, Nifty at 24,826; heavyweights drag amid mixed cues

Sensex Today | Stock Market Close Highlights, Tuesday, May 27, 2025: On the sectoral front, all majority indices settled lower, with Nifty Auto, Bank, IT, and FMCG down up to 0.88 per cent

Stock Market Close Highlights: Sensex jumps 455 points, Nifty at 25,001; all sectors settle in green

Sensex Today | Stock Market Close Highlights Monday, May 26, 2025: Among the Sensex constituents, 22 out of 30 stocks ended higher, with gains led by M&M, HCL Tech, Tata Motors, and Nestle India

EU, UK impose new sanctions on Russia's shadow fleet of oil tankers

The European Union on Tuesday agreed to impose fresh sanctions on Russia, notably targeting almost 200 ships from the shadow fleet illicitly transporting oil to skirt Western restrictions put in place over Moscow's war in Ukraine. The 27-nation bloc targeted 189 ships in all, and imposed asset freezes and travel bans on several officials as well as on a number of Russian companies. The measures were endorsed by EU foreign ministers in Brussels. EU foreign policy chief Kaja Kallas said that while President Vladimir Putin feigns interest in peace, more sanctions are in the works. Russia's actions and those who enable Russia face severe consequences. Russia uses its shadow fleet of ships to transport oil and gas, or to carry stolen Ukrainian grain. The EU has now targeted almost 350 of the ships in total. The new measures are not obviously linked to Russian delays in agreeing to a ceasefire. Work on the measures began in the days after the last package was finalised three months ...

EU, China start talks on lifting EU tariffs on Chinese electric vehicles

The European Union imposed tariffs on Chinese-made electric vehicles (EVs) late last year, saying they were needed to counter cheap loans

China, EU hit back with their own tariffs as Trump's trade war intensifies

China announced a tariff hike on US imports to 84 per cent from 34 per cent, shortly after Trump's punitive 104 per cent tariffs on Chinese imports kicked in on Wednesday

Indian steel to see impact from EU's import curbs, but local demand strong

EU will reduce import quotas, known as safeguards, limiting the amount of steel that can be imported into the bloc of 27 nations tariff-free

EU leaders meet today to discuss defence against Russia and handling Trump

EU leaders are expected to discuss what military capabilities they need in the coming years, how they could be funded and how they might cooperate more through joint projects

Retaliatory tariff on European Union: India to firewall local biz

The government's policy decision aims to avoid hurting the local industry by imposing higher import duty on key raw materials or intermediate goods from the trade bloc

China files complaint at WTO over EU anti-subsidy tariffs on Chinese EVs

China has moved forward with a complaint at the World Trade Organisation that alleges the European Union has improperly set anti-subsidy tariffs on new Chinese-made electric vehicles. The Chinese diplomatic mission to the WTO said Monday it strongly opposes the measures and insisted its move was designed to protect the EV industry and support a global transition toward greener technologies. The European bloc announced last month it was imposing import duties of up to 35% on electric vehicles from China, alleging the Chinese exports were unfairly undercutting EU industry prices. The duties are set to remain in force for five years, unless an amicable deal can be struck. Electric vehicles have become a major flashpoint in a broader trade dispute over the influence of Chinese government subsidies on European markets and Beijing's burgeoning exports of green technology to the bloc. China alleged that the EU move amounted to an abuse of trade remedies that violates WTO rules, and amount

China imposes deposits on EU brandy in tit-for-tat after EV tariff vote

As of Oct 11, importers of brandy originating in the EU will have to put down security deposits mostly ranging from 34.8 per cent to 39.0 per cent of the import value, the ministry said

EU governments face pivotal vote today for imposing Chinese EV tariffs

In the absence of a qualified majority either way, the EU executive can adopt the tariffs, however, it could also submit an amended proposal if it wanted to secure greater backing

EU headed for 'economic cold war' with China: Hungary's PM on EV tariff

Earlier on Friday data showed Hungary's industrial output falling by a worse-than-expected 9.5 per cent in August, which Budapest said was due to the weakness of the German economy

China unveils next steps in EU brandy probe as EV tariffs take effect

There is a four-month window during which the EV tariffs are provisional and intensive talks are expected to continue between the two sides as Beijing threatens wide-ranging retaliation

Xi Jinping greets EU Council president ahead of EV tariffs taking effect

EU trade policy has turned increasingly protective over concerns that China's production-focused development model could see it flooded with cheap goods

China hits Europe's pork imports after EU imposes tariffs on Chinese EVs

The Chinese government is taking aim at European farmers instead of German automakers by launching an investigation into European Union pork imports, just days after the EU said it plans to impose provisional tariffs on China-made electric vehicles. The Commerce Ministry didn't mention the EV tariffs when it announced Monday that it is opening an anti-dumping investigation into pork from Europe, but the move is widely seen as a response to the EU move on electric cars. It also gives China a bargaining chip in any trade negotiations. China could have slapped a 25% duty on imports of gasoline-powered vehicles with large engines in the name of combating climate change, a step that would would have hit Mercedes and BMW hard. In choosing not to do so, at least for now, the government may be acknowledging the public opposition of the German auto industry to the EU tariffs, as well as its sizeable production in China. The Chinese market is a major one for German automakers, and the head of

India has option to hit back at EU tariffs with retaliatory custom duties

India has the option to propose the imposition of retaliatory customs duties under the WTO norms on goods imported of a certain value from the EU, as the two sides have failed to reach a consensus on the European Union's safeguard measures on some steel products, an official has said. The EU has extended safeguard duties on certain steel imports, scheduled to expire this month, by another two years till 2026. This is the second extension of the safeguards that take the form of the Tariff Rate Quota (TRQ), first imposed in 2018. India is one of the countries affected by this measure as it has a substantial interest in steel exports to the EU. In 2023-24, India's iron and steel and their products exports to the EU increased to USD 6.64 billion from USD 6.1 billion in 2022-23. India, along with other countries, has earlier raised concerns at the World Trade Organisation (WTO) over the European Union's (EU) move to extend safeguard duty on the import of certain steel products till ...

Europe vs China: Why is EU imposing heavy tariffs on imported Chinese EVs?

EU tariff on Chinese EVs explained: The new tariffs are set to take effect from July 4, unless ongoing discussions with Chinese authorities yield a different outcome

China urges EU to rethink EV tariffs; says 'cooperation the way forward'

Brussels seemed to have left some room for the two sides to continue their consultations to find a solution and avoid the worst scenario, the Xinhua commentary added