Page 23 - European Union

Countermeasures to Trump's tariffs will go into effect on April 1, says EU

The European Union on Wednesday announced retaliatory trade action after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1. As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros (USD 28 billion), European Commission President Ursula von der Leyen said in a statement. The commission manages trade and commercial conflicts on behalf of the 27 member countries. We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs, von der Leyen said. The commission also said that steel and aluminum products would be hit in return, but also textiles, leather goods, home appliances, house tools plastics and wood. Agricultural products will also be impacted including

Amid US-Ukraine tensions, Starlink's European rival sees shares soar 500%

Eutelsat has the infrastructure to expand its role in Ukraine, whose troops rely on Starlink for internet connectivity to operate drones, secure messaging, and real-time coordination

EU hits back at Trump tariffs with measures on $28 billion of US goods

US-EU trade dispute: The Trump administration recently imposed 25% tariff on European steel and aluminium imports

EU chief asks member nations to use European, not American defence systems

European Union countries must purchase military equipment made in Europe under a new loan programme meant to help the continent provide for its own security, a top EU official said Tuesday, even though most of its defence materiel currently comes from US suppliers. At a summit last week, the EU's 27 leaders weighed a European Commission proposal for a new loan plan worth 150 billion euros (USD 163 billion). It would be used to buy air defence systems, drones and strategic enablers like air transport, as well as to boost cybersecurity. These loans should finance purchases from European producers, to help boost our own defence industry, Commission President Ursula von der Leyen told EU lawmakers. Von der Leyen said the contracts should be multiannual, to give the industry the predictability they need and that the priority should be for countries to buy equipment together in groups because we have seen how powerful this can be. European NATO members have placed about two-thirds of th

EU worries US embracing crypto could impact Europe financial stability

ECB has been working on creating a digital euro since 2020, after Facebook announced a year earlier it wanted to launch its own digital currency called Libra

EU investors eye fresh investments in Indian equities, says Macquarie

European nations are among the leading destinations for foreign portfolio investors (FPIs) in India

Macron's comeback: Handling crisis in France to shaping Europe's defence

French President Emmanuel Macron is back at the centre of global diplomacy, seeking to ease relations with President Donald Trump, championing a Ukraine peace plan alongside his British counterpart, and seeing his longstanding desire to boost European defence turning into reality. Six months ago, Macron seemed weaker than ever after his call for early legislative elections produced a hung parliament, sparking an unprecedented crisis. Known for his nonstop political activism, Macron shifted his focus to foreign policy, leaving domestic struggles largely to the prime minister. Now, he appears as the one leader who speaks to Trump several times per week and takes the lead in European support for Ukraine, while positioning himself as the commander-in-chief of the European Union's only nuclear power. Key world player Macron, 47, is one of the few leaders who knew Trump during his first term in office, maintaining despite disagreements a cordial relationship, which both describe as ...

India, EU to resume FTA talks from March 10 amid Trump tariff concerns

India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year. During the recent visit of EU Commissioner for Trade and Economic Security Maros Sefcovic, the two sides have discussed ways to accelerate efforts towards a balanced and mutually beneficial trade pact. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen last month agreed to conclude the ambitious India-EU free trade deal by this year amid fears of the Trump administration's threat of higher tariffs. "The two sides are scheduled to hold the tenth round of negotiations for the FTA from March 10-14 in Brussels," the official said. In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight .

Austrian envoy Wieser urges stronger India-EU ties, calls 2025 'key year'

Noting that the ties between India, Austria and the European Union has been intensifying over the past years, Ambassador Wieser affirmed hope that the trend will continue in the coming years

Russia warns of countermeasures to respond to EU 'militarisation' plans

European leaders on Thursday backed plans to spend more on defence and continue to stand by Ukraine in a world upended by Donald Trump's reversal of U.S. policies

EU leaders back new defence spending after Trump hints at self-reliance

European Union leaders on Thursday backed new defence spending plans aimed at freeing up billions of euros for the continent's security after the Trump administration signalled that Europe would have to fend for itself in future. Facing the prospect that the United States might cut them adrift, EU leaders held emergency talks in Brussels to explore new ways to beef up their own security and ensure that Ukraine will still be protected. The 27 leaders signed off on a move to loosen budget restrictions so that willing EU countries can increase their military spending. They also urged the European Commission to seek new ways to facilitate significant defence spending at national level in all Member States, a statement said. The EU's executive branch estimates that around 650 billion euros ($702 billion) could be freed up in this way. The leaders also took note of a commission offer of a loan package worth 150 billion euros ($162 billion) to buy new military equipment and invited EU ...

Russia has become a threat to France and Europe: French President Macron

French President Emmanuel Macron's message to EU: Europe must prepare itself for an era of uncertainty and take greater responsibility for its defence

EU leaders open Ukraine talks, seek to adapt to new security demands

European Union leaders plan to hold emergency talks on Thursday to agree ways to quickly increase their military budgets after the Trump administration signalled that Europe must take care of its own security and also suspended assistance to Ukraine. In just over a month, President Donald Trump has overturned old certainties about US reliability as a security partner, as he embraces Russia and withdraws American support for Ukraine. On Monday, Trump ordered a pause to US military supplies to Ukraine as he sought to press President Volodymyr Zelenskyy to engage in negotiations to end the war with Russia, bringing fresh urgency to the EU summit in Brussels. Europe faces a clear and present danger on a scale that none of us have seen in our adult lifetime. Some of our fundamental assumptions are being undermined to their very core," European Commission President Ursula von der Leyen warned in a letter to the EU's 27 leaders, who will consider ways to access more money for defence ...

EU mulls 800 bn euro plan to beef up defences to counter 'US disengagement'

The chief of the European Union's executive on Tuesday proposed an 800 billion euro (USD 841 billion) plan to beef up defences of EU nations to lessen the impact of potential US disengagement and provide Ukraine with military muscle to negotiate with Russia following the freeze of US aid to the embattled nation. European Commission President Ursula von der Leyen said the massive REARM Europe package will be put to the 27 EU leaders who will meet in Brussels on Thursday in an emergency meeting following a week of increasing political uncertainty from Washington, where President Donald Trump questioned both his alliance to the continent and the defence of Ukraine. I do not need to describe the grave nature of the threats that we face," von der Leyen said. Key to the quandary of EU nations has been an unwillingness to spend much on defense over the past decades as they hid under the US nuclear umbrella and a sluggish economy, which creates challenges for a quick ramp-up of such ...

PM Modi meets Belgium's Princess Astrid, discusses trade and tech ties

Prime Minister Narendra Modi on Tuesday met Princess Astrid of Belgium and said he looks forward to "unlocking limitless opportunities" for the people of the two countries through new partnerships in trade, technology, defence and agriculture. Astrid is in India leading an economic mission that is aimed at shoring up bilateral trade and investment cooperation between the two nations. "Pleased to meet HRH Princess Astrid of Belgium. Deeply appreciate her initiative to lead a 300-member Economic Mission to India," Modi said on X. "Look forward to unlocking limitless opportunities for our people through new partnerships in trade, technology, defence, agriculture, life sciences, innovation, skilling and academic exchanges," the prime minister said. The overall trajectory of India-Belgium ties has witnessed a steady expansion in the last few years. The focus of the relations has traditionally been on trade and investment. India is Belgium's 14th largest export destination and the 16th

Indian exports under mounting pressure from US, EU trade policies

Indian trade minister Piyush Goyal started on a trip to the United States on Monday to pursue trade talks, ahead of Trump's planned tariff measures

UK will play leading role in securing peace: Starmer on Russia-Ukraine war

Starmer expressed his discomfort over the clash as 'something nobody in this House wants to see' but went on to assert that the UK-US alliance remains 'indispensable'

Between Trump snub and EU meet, Zelenskyy secures £2.26 billion for Ukraine

Volodymyr Zelenskyy's visit to the UK was markedly different from his tense encounter at the White House with US President Donald Trump

Friendless EU suddenly wants India's approval amid shifting global ties

Europe's leaders have correctly decided that they now need as many friends: Japan, the South Americans, India, the Gulf kingdoms as they can possibly cobble together

European leaders vow to support Ukraine after Oval Office clash with Trump

European leaders pledged late Friday to stand by Ukraine in the wake of the contentious Oval Office meeting between US President Donald Trump, Vice President JD Vance and Ukrainian President Volodymyr Zelenskyy, with their statements in support of their neighbour on the continent ensuring a deepening transatlantic rift. European leaders already were shaken by Vance's speech to the Munich Security Conference two weeks ago in which he lectured them about the state of their democracy. As prime ministers and presidents across the continent scrambled to respond, they have held a series of emergency summits to discuss security. Another major summit is scheduled for Sunday in London, hosted by UK Prime Minister Keir Starmer. More than a dozen European and EU leaders, including Zelenskyy, will gather for a meeting meant to drive forward action on Ukraine and security. The leaders' comments Friday largely did not mention Trump or Vance, but rather sought to assure Ukraine of their support as