Page 3 - European Union

Europe wants a reliable partner; India needs to act cautiously and step up

The European Union seeks concessions from India, tolerating ties with Russia and oil export; now India must reciprocate, avoiding unnecessary moves that would further strain EU's trust

EU proposes steel protections, sparking concerns for UK manufacturers

The European Union proposed Tuesday cutting free-trade quotas by 47 per cent on steel and steel products, effectively adding large tariffs on imports from countries like China, India, Turkiye, and the United Kingdom, which said the measures would wreck the British steel industry. After importing 18.3 million tonnes, the new quota, additional imports will face up to 50 per cent in new tariffs, a high price akin to US President Donald Trump's steel measures. Neighbouring nations like Norway, Iceland and Ukraine will be exempt. A proposal to thwart overcapacity The proposal attempts to buttress Europe's traditional steel manufacturers by imposing trade barriers to stem the flooding of Europe's markets with imports diverted by those high American tariffs. Steel importers would be required to clearly declare where the products were melted and poured, and a complex quota system would govern what enters the EU common market. The proposal replaces a current steel safeguard policy aligned w

EU plans to cut steel import quotas by nearly half to preserve industry

EU steel is currently protected by safeguards that cap imports of 26 steel grades, with 25% tariffs above those limits

India-EU trade talks: Commerce Secretary to visit Brussels this week

Commerce Secretary Rajesh Agrawal will visit Brussels this week to meet European Commission Director General for Trade Sabine Weyand to give impetus to the ongoing negotiations on the proposed free trade agreement, Union Minister Piyush Goyal said on Tuesday here. The Commerce and Industry Minister said "very" good discussions are going on between the EU and India in Brussels. India is hoping to work together in a spirit of understanding each other's sensitivities so that the two sides can conclude an equitable, fair and balanced free trade agreement, he added. The minister is here on a two-day official visit. He is leading a business delegation to discuss ways to boost trade and investment ties between India and Qatar. "Once this round gets over, Commerce Secretary, Rajesh Agrawal Ji, will be going to Brussels to meet his counterpart, DG Sabine Weyand by the end of this week. After that, we will be working out what are the next steps," Goyal said. When asked about the December ..

EU nations plan to restrict Russian diplomats' travel: Here's why

European intelligence agencies have often accused Russian spies of carrying out arson, cyberattacks, drone intrusions, and other sabotage acts in Nato countries

India, EU to begin next round of trade talks from Monday in Brussels

Senior officials of India and the 27-nation European Union (EU) will commence the next round of talks for a proposed free trade agreement on Monday in Brussels to iron out differences on issues for early conclusion of the negotiations, an official said. This will be the 14th round of negotiations between the two sides. The five-day talks will begin on October 6, the official said. Commerce and Industry Minister Piyush Goyal has recently expressed hope that the two sides will sign the agreement soon. The pact aims at boosting two-way commerce and investments. Goyal is also likely to meet EU Trade Commissioner Maros Sefcovic in South Africa later this month to review the progress of talks, as the deadline to conclude the negotiations is December. Sefcovic and the European Commission's Agriculture Commissioner Christophe Hansen were here last month to review the progress of talks with Goyal. Both sides have targeted to conclude negotiations by December. In June 2022, India and the

EU eyes bigger role in 'Make in India' as FTA talks set to begin on Oct 6

India and the EU will start the 14th round of FTA talks on October 6, aiming to boost trade, investment, jobs, and strengthen EU firms' role in 'Make in India'

Hungary clings to Russian oil, gas as EU, NATO push to cut supplies

As the European Union pushes to fully sever its reliance on Russian energy and the administration of US President Donald Trump urges NATO members to abandon Russian oil, one country's populist government stands firm. Hungary and its leader, Prime Minister Viktor Orbn, have long argued Russian energy imports are indispensable for the country's economy and switching to fossil fuels sourced from elsewhere would cause an immediate economic collapse. Orbn, who has long had the friendliest ties to the Kremlin of any EU leader, has vigorously opposed the bloc's efforts to sanction Moscow after its invasion of Ukraine in February 2022, and blasted attempts to hit Russia's energy revenues that help finance the war. As the rest of Europe has weaned off Russian energy, Hungary has maintained, and even increased, its Russian imports, insisting no viable alternative exists. But some energy experts as well as Orbn's critics, who see his commitment to Russian energy as a symptom of his affinity

EU plans to double steel import tariffs to 50% and cut quota volumes

Europe's steel association, Eurofer, has been demanding tighter measures to reflect new market dynamics

Swiss glaciers shrink 3% this year, fourth-biggest retreat on record

Switzerland's glaciers have faced enormous melting this year with a 3 per cent drop in total volume the fourth-largest annual drop on record due to the effects of global warming, top Swiss glaciologists have reported. The shrinkage this year means that ice mass in Switzerland home to the most glaciers in Europe has declined by one-quarter over the last decade, the Swiss glacier monitoring group GLAMOS and the Swiss Academy of Sciences said in their report Wednesday. Glacial melting in Switzerland was once again enormous in 2025, the scientists said. A winter with low snow depth combined with heat waves in June and August led to a loss of 3 per cent of the glacier volume. Switzerland is home to nearly 1,400 glaciers, the most of any country in Europe, and the ice mass and its gradual melting have implications for hydropower, tourism, farming and water resources in many European countries. More than 1,000 small glaciers in Switzerland have already disappeared, the experts said.

EU pushes to release €140 bn from frozen Russian assets for Ukraine aid

Backing for the long-standing proposal to leverage the assets has gained traction after the US under President Donald Trump halted its direct support for Ukraine

Europe to launch first carbon import tax to curb emissions, stop leakage

The European Union will launch its first import tax on steel, cement, aluminium and more to reduce emissions and prevent companies from shifting production abroad

India-EFTA trade pact to take effect on Oct 1 with $100 bn investment plan

The free trade agreement between India and the four-nation European bloc EFTA will come into force from Wednesday under which New Delhi has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under the trade pact on these goods over 10 years. The bloc committed an investment of USD 100 billion -- USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years - which would facilitate the creation of one million direct jobs in India. This is a first-of-its-kind pledge agree

Moldova's pro-EU party wins pivotal election in setback for Russia

"This is not just a party's victory" it is Moldova's victory. The European path is our way forward," Sandu said on X

ECB mulls reprieve for Deutsche, BNP amid India bond clearing row

Lenders are discussing a potential solution with the ECB about easing charges imposed after Europe's markets agency withdrew recognition of the CCIL and other agencies three years ago

EU gears up to open 20 anti-dumping probes against Chinese products

The EU is preparing 20 anti-dumping investigations against China to protect European industries from cheap imports and overcapacity in Chinese manufacturing

Italian dy PM confirms support for finalisation of FTA between EU, India

Italy's Deputy Prime Minister Antonio Tajani has met External Affairs Minister S Jaishankar and Commerce Minister Piyush Goyal on the sidelines of the UN General Assembly session here and expressed Rome's commitment to the finalisation of the Free Trade Agreement between India and the European Union. Antonio Tajani in a post on X on Thursday described the meeting as "important" and said he would be visiting India in the coming months. "In New York, I also had important meetings with the Indian Foreign Minister @DrSJaishankar and the Commerce Minister @PiyushGoyal," said Tajani. "Italy and India share a strategic political and economic partnership that we intend to strengthen with my further visit to India in the coming months," he added. Stating that India is a priority country, he said, "...for this reason I wanted the 'India' measure of 500 million euros to support our exporting companies". "I confirmed Italy's support for a rapid finalisation of the Free Trade Agreement," he .

Nearly half of US firms in Europe expect declining economic ties: Report

The survey, carried out among 52 US-controlled members between September 8 and 16, showed that reducing tariffs was still the number one priority

Apple pushes EU to repeal tech rules citing delayed features, app risks

The request comes as the European Commission reviews the law, marking its first evaluation of the act's effectiveness and its capacity to respond to emerging technologies, including AI

European banks to launch euro stablecoin, challenge US crypto dominance

The European banks' new Amsterdam-based company is expected to launch its stablecoin in the second half of next year