Page 26 - European Union

EU must stay united against Trump's tariff threat: Spanish minister

EU leaders meeting at an informal summit in Brussels on Monday said Europe would be prepared to fight back if the U.S. imposes tariffs, but also called for reason and negotiation

EU leaders hold summit no longer certain about aims of their old ally, US

European Union leaders are gathering on Monday for informal talks focused on defence with no clear sign yet from US President Donald Trump about how he intends to try to end Russia's war on Ukraine. UK Prime Minister Keir Starmer and NATO Secretary-General Mark Rutte will join the bloc's 27 leaders at a self-styled retreat at Egmont Place in the Belgian capital, Brussels. The summit will focus on EU-US cooperation, military spending and ramping up Europe's defense industry. The meeting comes as Europe's biggest land conflict since World War II approaches its third anniversary, and with confidence in Trump shaky as he threatens his allies with tariffs. Trump already slapped duties on European steel and aluminum during his first term. Last month, Trump also left open the possibility that the American military might be used to secure Greenland, as well as the Panama Canal. We need Greenland for national security purposes, he said. Greenland, home to a large US military base, is an ..

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

Will work out measures to help industry address non-tariff barriers: Goyal

The commerce and finance ministries are working as a team to see which are the sectors that require maximum support in terms of availability of capital, technology upgradation, marketing

The need for strategic thinking: Focusing on big gains in key areas

We need to be strategic to husband our policy reform resources, devoting energy to a few important areas that will materially impact the investment environment for private persons

EU carbon tax, deforestation regulation may impact exporters: Eco Survey

The European Union's (EU) non-trade measures - carbon tax and deforestation regulation - are expected to impact Indian exporters, Economic Survey 2024-25 said on Friday. It said globally, non-tariff measures such as subsidies and export-related measures, have risen in aid of nations' industrial policy goals. Unlike broad-based tariffs, these non-tariff measures tend to be granular in their approach. They are often less visible, making them harder to assess. In the future, the imposition of climate-change-related NTMs by the EU in the form of the Carbon Border Adjustment Mechanism (CBAM) and European Union Deforestation Regulation (EUDR) is anticipated to have broad implications for exporters in emerging economies such as China, India, and Turkey," the survey said. Implemented by the EU and under consideration by the UK, CBAM aims to align the cost of carbon emissions for imported goods with that of domestically produced products. Under the mechanism, importers will buy carbon ...

5 years after Britain left EU, full impact of Brexit still emerging

Five years ago Friday, two crowds of people gathered near Britain's Parliament some with Union Jacks and cheers, others European Union flags and tears. On Jan 31, 2020 at 11 pm London time midnight at EU headquarters in Brussels the U.K. officially left the bloc after almost five decades of membership that had brought free movement and free trade between Britain and 27 other European countries. For Brexit supporters, the U.K. was now a sovereign nation in charge of its own destiny. For opponents, it was an isolated and diminished country. It was, inarguably, a divided nation that had taken a leap into the dark. Five years on, people and businesses are still wrestling with the economic, social and cultural aftershocks. The impact has been really quite profound, said political scientist Anand Menon, who heads the think-tank U.K. in a Changing Europe. It's changed our economy. And our politics has been changed quite fundamentally as well, he added. We've seen a new division around

China's big EV push into Europe fizzles out on EU tariffs and slowdown

Brands led by SAIC Motor Corp.'s MG registered 3.5 per cent fewer EVs in the region for all of 2024, according to data from automotive researcher Dataforce

EU cautiously agrees to ease sanctions on Syria in wake of Assad's downfall

European Union foreign ministers on Monday agreed to begin lifting sanctions on Syria, while insisting that the measures should be reimposed if they see any abuses by the country's new rulers. The EU started to impose asset freezes and travel bans on Syrian officials and organisations in 2011 in response to Bashar Assad's crackdown on protesters, which festered into a civil war. The 27-nation bloc targeted 316 people and 86 entities accused of backing Syria's former ruler. It is keen to lift those measures if Syria's new leaders set the country on the path to a peaceful political future involving all minority groups and in which extremism and former allies Russia and Iran have no place. EU foreign policy chief Kaja Kallas said ministers had agreed on a roadmap for easing sanctions. Speaking after chairing the meeting, she said, the aim was to lift those measures that are most hindering the early buildup of the country and to move from there. She underlined that the ministers had on

EU extends Russia sanctions by 6 months after Hungary lifts veto threat

The European Union agreed a 6-month extension Monday for a raft of sanctions aimed at depriving Russia of funds to finance its war against Ukraine after Hungary lifted its objections to the move. The sanctions target trade, finance, energy, technology, industry, transport and luxury goods. They include a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU. They will now remain in place at least until July 31. Some measures were introduced in 2014 after Russia annexed Ukraine's Crimean Peninsula, but the list grew significantly after Moscow's full-fledged invasion of its neighbour almost three years ago. On Friday, Hungarian Prime Minister Viktor Orbn called on the EU to intervene in a gas dispute that his country has with Ukraine. He said Kyiv's decision to halt the transit of Russian gas into Central Europe had forced Hungary to turn to alternative routes, which raised energy prices. To satisfy Orbn's demand, the European ...

Centre initiates anti-dumping probe into PVC resin imports from EU, Japan

India has initiated a probe into the alleged dumping of PVC paste resin, used to make artificial leather and other technical textiles' products, from the European Union (EU) and Japan, according to a notification. The commerce ministry's investigation arm, Directorate General of Trade Remedies (DGTR), is probing the dumping as imports are allegedly hurting the margins of the domestic industry. Chemplast Sanmar Ltd has filed an application seeking the imposition of anti-dumping duty, stating that the cheap imports are causing material injury to the domestic industry. "On the basis of the duly substantiated written application submitted by the domestic industry and having reached satisfaction based on the prima facie evidence submitted by domestic industry about the dumping of subject goods...the Authority, hereby, initiates an anti-dumping investigation," the DGTR has said in a notification. If it is established that the dumping has caused material injury to domestic players, the DG

European Union rejects election in Belarus, threatens new sanctions

The European Union rejected the election in Belarus on Sunday as illegitimate and threatened new sanctions. Belarus held an orchestrated vote virtually guaranteed to give 70-year-old autocratic President Alexander Lukashenko yet another term on top of his three decades in power. Today's sham election in Belarus has been neither free, nor fair, EU foreign policy chief Kaja Kallas and EU enlargement commissioner Marta Kos said in a joint statement. The relentless and unprecedented repression of human rights, restrictions to political participation and access to independent media in Belarus, have deprived the electoral process of any legitimacy," Kallas and Kos said. They urged the Belarusian government to release political prisoners, estimating their number at more than 1,000, including an employee of the EU delegation in Belarus' capital, Minsk. Kallas and Kos said that the decision to invite observers from the Organisation for Security and Cooperation in Europe only 10 days ago ..

India-EU free trade agreement negotiations make 'significant progress'

There is a significant progress in the negotiations for the proposed free trade agreement (FTA) between India and European Union (EU), an official said on Thursday. Commerce and Industry Minister Piyush Goyal was in Brussels last week to meet European Commissioner for Trade Maros Sefcovic to take stock of the progress of the negotiations. "Good progress is there on India-EU FTA. There is a significant progress in talks," the official said, without divulging more details. During the meeting between Goyal and Sefcovic, the two sides agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial trade pact. The two leaders have also outlined political directions for both the teams to develop a mutually beneficial agenda for trade and investment and a robust FTA in an expedited manner to meet global challenges. The meeting came ahead of the 10th round of talks between India and the EU, which is scheduled from March 10-14 in Brussels. In the ninth round,

Europe extends hand to US President Trump, warns of 'race to bottom'

Von der Leyen did not mention Trump by name, but referred to the increasing use of sanctions

EU wants to upgrade strategic partnership with India, says President Ursula

European Commission President Ursula von der Leyen on Tuesday said the first trip of her new Commission will be to India as she wants to upgrade the strategic partnership with "the largest country and democracy" of the world. In a special address at the World Economic Forum Annual Meeting here, she said the European Commission wants to see local industries flourish in its partner countries because that is also in its own interest. "And, we have partners across the world, from Africa to Indo-Pacific," she said. "The first trip of my new commission will be to India. Together with Prime Minister Narendra Modi, we want to upgrade the strategic partnership with the largest country and democracy in the world," she declared. While European Parliament re-elected her for a second term in July last year, the new commission officially began work recently. Her present term will continue till 2029. She further said, "I believe we also strive for mutual benefits with our conversations with Chin

India to work with EU on developing modern tech, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties. These issues were discussed during a meeting between Goyal and Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 in Brussels. The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA). The commerce and industry ministry in a statement on Sunday said that India would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides. "India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing ...

Piyush Goyal discusses FTA with EU Commissioner during Brussels visit

Goyal is on a visit to Brussels for a High-Level Dialogue with Maros Sefcovic from January 18-20

Mexico, EU revamp trade deal before Trump takes office with tariff threats

Mexico and the European Union on Friday announced a revamped trade agreement that they said would substantially increase trade and investment, days before the inauguration of US President-elect Donald Trump, who has threatened to slap sweeping tariffs on Mexico and other trading partners. The new Global Trade Agreement between Mexico and the 27-nation bloc would reduce Mexican tariffs of agri-food imports from Europe, remove a number of barriers that would allow European companies to more easily invest in Mexico and boost Mexican exports of raw materials like fluorspar (used in electronics) as well as antimony, copper, zinc and lead. The updated deal, which first entered into force 25 years ago, also seeks to facilitate strategic cooperation on key geopolitical issues, the European Union said in a statement. We have entered a new era in our strategic partnership with Mexico today. Our upgraded agreement shows the EU and Mexico united for freer trade and an open global economy," said

India-EU FTA negotiations a tough nut to crack as key issues unresolved

A major hurdles in the way of talks has been EU's stance on sustainable development, since trade bloc is set to implement regulations such as CBAM, deforestation regulation law, and supply chain law

EU can stand up to US, China rivals with integrated energy market: IMF

Boosting Europe's economic competitiveness is a priority for the 27-nation bloc as it struggles in the race for new, climate-friendly technologies against China and the United States