Meta Platforms is close to having to pay its first antitrust fine in the European Union, according to those familiar with the matter, after regulators have decided the company's alleged anti-competitive practices.

The tech giant is under pressure over its classified ads service, Facebook Marketplace, which the EU Commission believes has been unfairly bundled with the core Facebook social network.

Furthermore, it's alleged by the Commission that Meta has imposed unfavourable terms on rival classified ad services advertising on its platforms.

It could be as high as $13.4 billion, although past EU fines indicate that the actual fine will likely be much lower.

The Commission is to adopt its final decision in the next few months before antitrust chief Margrethe Vestager leaves in November.

Meta has always denied any wrongdoing, arguing its product innovations benefit consumers and rivals alike. Indeed, it even attempted to settle an investigation by offering limits on how it uses competitor advertising data to boost Facebook Marketplace, but this was rejected by the EU.

It is the latest of a line in regulatory challenges for Meta, already facing a separate charge at the Commission over its failure to comply with new tech rules about its ad model.

With the digital world evolving, there has been increased pressure on tech giants to observe antitrust regulations.

If the court rules against Meta, this could dramatically change how it works in Europe and might set a legally binding precedent for future antitrust actions against other tech companies.

(With inputs from Reuters)

Meta Platforms is close to having to pay its first antitrust fine in the European Union, according to those familiar with the matter, after regulators have decided the company's alleged anti-competitive practices.

Meta Platforms is close to having to pay its first antitrust fine in the European Union, according to those familiar with the matter, after regulators have decided the company's alleged anti-competitive practices. The tech giant is under pressure over its classified ads service, Facebook Marketplace, which the EU Commission believes has been unfairly bundled with the core Facebook social network. Furthermore, it's alleged by the Commission that Meta has imposed unfavourable terms on rival classified ad services advertising on its platforms. It could be as high as $13.4 billion, although past EU fines indicate that the actual fine will likely be much lower. The Commission is to adopt its final decision in the next few months before antitrust chief Margrethe Vestager leaves in November. Meta has always denied any wrongdoing, arguing its product innovations benefit consumers and rivals alike. Indeed, it even attempted to settle an investigation by offering limits on how it uses competitor advertising data to boost Facebook Marketplace, but this was rejected by the EU. It is the latest of a line in regulatory challenges for Meta, already facing a separate charge at the Commission over its failure to comply with new tech rules about its ad model. With the digital world evolving, there has been increased pressure on tech giants to observe antitrust regulations. If the court rules against Meta, this could dramatically change how it works in Europe and might set a legally binding precedent for future antitrust actions against other tech companies. (With inputs from Reuters)

Meta braces for first EU antitrust fine

Despite concerted efforts to reduce dependency, Russia remains a substantial supplier of natural gas to the European Union. While pipeline gas deliveries have been significantly curtailed since the outbreak of the Ukraine war, LNG imports from Russia have surged.

Russia becomes EU's second-biggest LNG supplier amid sanctions

In a significant development, German Chancellor Olaf Scholz has hailed a provisional agreement between Serbia and the European Union, aimed at the controversial excavation of lithium. This ambitious project promises to decrease Europe's dependency on China for lithium, a critical element in battery production for electric vehicles. The agreement, however, has faced substantial opposition from environmentalists and local protestors.

Critical Raw Materials Summit in Belgrade

The memorandum of understanding was signed during a "critical raw materials summit" in Belgrade, where Scholz emphasised the importance of this deal for Europe's strategic autonomy. "This is an important European project," he stated. "It is necessary for Europe to remain sovereign in a changing world and not be dependent on others, which is why new sources of raw materials should be discovered."

Germany’s Strategic Interests

Germany, being the largest car manufacturer in Europe, has a vested interest in securing a steady supply of lithium for its burgeoning electric vehicle industry. With China currently dominating the lithium-ion battery supply chain, the EU's dependency on Chinese imports poses a significant challenge. The new agreement with Serbia is seen as a vital step towards mitigating this reliance.

Environmental and Political Backdrop

The project has not been without controversy. Earlier this month, Serbia's constitutional court overturned a ruling that had previously cancelled a $2.4 billion mining project by British-Australian mining giant Rio Tinto in the Jadar Valley. This area is believed to be home to Europe’s largest lithium deposit. The initial cancellation followed massive protests in 2021, where thousands of Serbians blocked major roads and bridges, voicing concerns about potential environmental hazards.

Security Measures and Protests

Despite heavy police presence, which prevented protesters from approaching the government building during the signing ceremony, the opposition remains vocal. Serbian President Aleksandar Vucic has assured that the lithium excavation will only proceed if German and other EU automakers and battery producers establish manufacturing facilities in Serbia, rather than exporting raw materials directly.

Economic and Political Implications

President Vucic expressed optimism about the project's potential, stating, "This day fills me with great hope for our country. This will be a turning point and a big change and a quantum leap into the future of Serbia." The agreement is also viewed as a boost for Vucic’s administration, which has been balancing Serbia's EU aspirations with its close ties to China and Russia.

EU’s Perspective

European Commission Vice President Maros Sefcovic, who signed the memorandum on behalf of the EU, underscored the historic significance of this partnership. "I really believe that we are making a historic opportunity for Serbia and the EU," Sefcovic remarked, highlighting the strategic importance of the agreement in enhancing EU's raw materials supply chain.

A Controversial but Crucial Agreement

The agreement between Serbia and the EU represents a critical juncture in Europe's efforts to secure essential raw materials and reduce its dependency on China. While the project promises economic benefits and enhanced strategic autonomy for Europe, it also faces significant environmental and political challenges. As the situation unfolds, the world will be watching how Serbia navigates the complex interplay of environmental concerns, economic aspirations, and geopolitical strategies.

In a significant development, German Chancellor Olaf Scholz has hailed a provisional agreement between Serbia and the European Union, aimed at the controversial excavation of lithium.

In a significant development, German Chancellor Olaf Scholz has hailed a provisional agreement between Serbia and the European Union, aimed at the controversial excavation of lithium. This ambitious project promises to decrease Europe's dependency on China for lithium, a critical element in battery production for electric vehicles. The agreement, however, has faced substantial opposition from environmentalists and local protestors. Critical Raw Materials Summit in Belgrade The memorandum of understanding was signed during a "critical raw materials summit" in Belgrade, where Scholz emphasised the importance of this deal for Europe's strategic autonomy. "This is an important European project," he stated. "It is necessary for Europe to remain sovereign in a changing world and not be dependent on others, which is why new sources of raw materials should be discovered." Germany’s Strategic Interests Germany, being the largest car manufacturer in Europe, has a vested interest in securing a steady supply of lithium for its burgeoning electric vehicle industry. With China currently dominating the lithium-ion battery supply chain, the EU's dependency on Chinese imports poses a significant challenge. The new agreement with Serbia is seen as a vital step towards mitigating this reliance. Environmental and Political Backdrop The project has not been without controversy. Earlier this month, Serbia's constitutional court overturned a ruling that had previously cancelled a $2.4 billion mining project by British-Australian mining giant Rio Tinto in the Jadar Valley. This area is believed to be home to Europe’s largest lithium deposit. The initial cancellation followed massive protests in 2021, where thousands of Serbians blocked major roads and bridges, voicing concerns about potential environmental hazards. Security Measures and Protests Despite heavy police presence, which prevented protesters from approaching the government building during the signing ceremony, the opposition remains vocal. Serbian President Aleksandar Vucic has assured that the lithium excavation will only proceed if German and other EU automakers and battery producers establish manufacturing facilities in Serbia, rather than exporting raw materials directly. Economic and Political Implications President Vucic expressed optimism about the project's potential, stating, "This day fills me with great hope for our country. This will be a turning point and a big change and a quantum leap into the future of Serbia." The agreement is also viewed as a boost for Vucic’s administration, which has been balancing Serbia's EU aspirations with its close ties to China and Russia. EU’s Perspective European Commission Vice President Maros Sefcovic, who signed the memorandum on behalf of the EU, underscored the historic significance of this partnership. "I really believe that we are making a historic opportunity for Serbia and the EU," Sefcovic remarked, highlighting the strategic importance of the agreement in enhancing EU's raw materials supply chain. A Controversial but Crucial Agreement The agreement between Serbia and the EU represents a critical juncture in Europe's efforts to secure essential raw materials and reduce its dependency on China. While the project promises economic benefits and enhanced strategic autonomy for Europe, it also faces significant environmental and political challenges. As the situation unfolds, the world will be watching how Serbia navigates the complex interplay of environmental concerns, economic aspirations, and geopolitical strategies.

Serbia and EU ink deal on lithium excavation amid controversy

In June, new car sales in the European Union surged by 4.3%, reaching their highest level since July 2019. This increase was driven primarily by strong performances in major markets such as Italy, Germany, and Spain. However, while overall car sales saw a boost, registrations of battery electric vehicles (BEVs) experienced a slight decline, as reported by the European Automobile Manufacturers Association (ACEA).

Mixed Performance for Electric Vehicles

The ACEA data revealed that despite notable increases in BEV registrations in Belgium (50.4%) and Italy (117.4%), these gains were insufficient to counterbalance significant declines in Germany, the Netherlands, and France. This mixed performance highlights the uneven adoption of electric vehicles across different European markets.

Market Dynamics Influencing Sales

Several factors influence these market dynamics, including government incentives, consumer preferences, and economic conditions. For instance, Germany, which is the largest EV market in the EU, saw a decline in BEV registrations partly due to the early termination of subsidies for purchasing EVs as part of a last-minute 2024 budget deal. According to Lucien Mathieu, cars director at the European campaign group Transport &amp; Environment (T&amp;E), Germany's unpredictable incentives for EV adoption have hampered its progress, while other markets with stable incentives are benefiting.

Rise in Hybrid-Electric Car Sales

While BEV and plug-in hybrid car sales saw declines of 1% and 19.9% respectively, hybrid-electric cars experienced a significant growth of 26.4% in June. This trend suggests that consumers are increasingly favouring hybrid vehicles, which offer a balance between traditional combustion engines and electric power, over fully electric or plug-in hybrid models.

Shift Towards Hybrid Vehicles

The rise in hybrid-electric car sales reflects a transitional phase in the automotive market. Consumers may be opting for hybrids as a more practical and accessible option while the infrastructure and incentives for fully electric vehicles continue to develop. This trend could play a critical role in shaping the future of car sales in Europe.

Performance of Major Carmakers

The three largest carmakers in Europe—Volkswagen, Stellantis, and Renault—also reported growth in their car registrations for June. Volkswagen saw a 4.7% increase, Stellantis grew by 0.4%, and Renault experienced a 6.2% rise. These figures indicate a positive trend for these manufacturers, despite the broader challenges in the EV market.

Manufacturer Strategies and Market Positioning

The growth in registrations for these major carmakers suggests that their strategies to navigate the changing market dynamics are yielding results. Investing in a diverse portfolio of vehicles, including hybrids and traditional combustion engines, appears to be a prudent approach in the current market environment.

Future Outlook

Despite the recent dip in demand for electric vehicles, European carmakers remain optimistic about future sales. They are betting on a gradual recovery and sustained growth in the long term. The first half of the year saw a 1.3% increase in BEV registrations, indicating a steady, albeit slow, rise in electric vehicle adoption.

Long-Term Bet on EV Growth

Top European carmakers are maintaining a positive outlook for the future of EV sales. They anticipate that continued technological advancements, improved infrastructure, and favourable government policies will eventually lead to a more robust growth trajectory for electric vehicles.

Navigating a Complex Market

The rise in new car sales in the European Union, coupled with the fluctuating demand for electric vehicles, underscores the complexity of the automotive market. Government policies, consumer preferences, and economic conditions play crucial roles in shaping market trends. As carmakers and policymakers work towards a sustainable future, a balanced and adaptive approach will be key to navigating this evolving landscape.

The European automotive market is experiencing significant shifts, with rising new car sales and varying trends in electric vehicle adoption. While challenges remain, the industry is poised for continued growth and transformation.

(Inputs from Reuters)

In June, new car sales in the European Union surged by 4.3%, reaching their highest level since July 2019. This increase was driven primarily by strong performances in major markets such as Italy, Germany, and Spain.

In June, new car sales in the European Union surged by 4.3%, reaching their highest level since July 2019. This increase was driven primarily by strong performances in major markets such as Italy, Germany, and Spain. However, while overall car sales saw a boost, registrations of battery electric vehicles (BEVs) experienced a slight decline, as reported by the European Automobile Manufacturers Association (ACEA). Mixed Performance for Electric Vehicles The ACEA data revealed that despite notable increases in BEV registrations in Belgium (50.4%) and Italy (117.4%), these gains were insufficient to counterbalance significant declines in Germany, the Netherlands, and France. This mixed performance highlights the uneven adoption of electric vehicles across different European markets. Market Dynamics Influencing Sales Several factors influence these market dynamics, including government incentives, consumer preferences, and economic conditions. For instance, Germany, which is the largest EV market in the EU, saw a decline in BEV registrations partly due to the early termination of subsidies for purchasing EVs as part of a last-minute 2024 budget deal. According to Lucien Mathieu, cars director at the European campaign group Transport & Environment (T&E), Germany's unpredictable incentives for EV adoption have hampered its progress, while other markets with stable incentives are benefiting. Rise in Hybrid-Electric Car Sales While BEV and plug-in hybrid car sales saw declines of 1% and 19.9% respectively, hybrid-electric cars experienced a significant growth of 26.4% in June. This trend suggests that consumers are increasingly favouring hybrid vehicles, which offer a balance between traditional combustion engines and electric power, over fully electric or plug-in hybrid models. Shift Towards Hybrid Vehicles The rise in hybrid-electric car sales reflects a transitional phase in the automotive market. Consumers may be opting for hybrids as a more practical and accessible option while the infrastructure and incentives for fully electric vehicles continue to develop. This trend could play a critical role in shaping the future of car sales in Europe. Performance of Major Carmakers The three largest carmakers in Europe—Volkswagen, Stellantis, and Renault—also reported growth in their car registrations for June. Volkswagen saw a 4.7% increase, Stellantis grew by 0.4%, and Renault experienced a 6.2% rise. These figures indicate a positive trend for these manufacturers, despite the broader challenges in the EV market. Manufacturer Strategies and Market Positioning The growth in registrations for these major carmakers suggests that their strategies to navigate the changing market dynamics are yielding results. Investing in a diverse portfolio of vehicles, including hybrids and traditional combustion engines, appears to be a prudent approach in the current market environment. Future Outlook Despite the recent dip in demand for electric vehicles, European carmakers remain optimistic about future sales. They are betting on a gradual recovery and sustained growth in the long term. The first half of the year saw a 1.3% increase in BEV registrations, indicating a steady, albeit slow, rise in electric vehicle adoption. Long-Term Bet on EV Growth Top European carmakers are maintaining a positive outlook for the future of EV sales. They anticipate that continued technological advancements, improved infrastructure, and favourable government policies will eventually lead to a more robust growth trajectory for electric vehicles. Navigating a Complex Market The rise in new car sales in the European Union, coupled with the fluctuating demand for electric vehicles, underscores the complexity of the automotive market. Government policies, consumer preferences, and economic conditions play crucial roles in shaping market trends. As carmakers and policymakers work towards a sustainable future, a balanced and adaptive approach will be key to navigating this evolving landscape. The European automotive market is experiencing significant shifts, with rising new car sales and varying trends in electric vehicle adoption. While challenges remain, the industry is poised for continued growth and transformation. (Inputs from Reuters)

EU new car sales hit highest level since 2019 amid shifting market dynamics

The European parliament on Thursday (July 18)&nbsp;confirmed Ursula von der Leyen as European Commission president. She will now serve a second five-year term in a row as president of the European Commission, the executive arm of the European Union.&nbsp;

A total of 401 Members of the European Parliament (MEPs) voted in von der Leyen's favour while 284 voted against and 15 abstained.&nbsp;

The European Conservatives and Reformists group, which includes Italian Prime Minister&nbsp;Giorgia Meloni’s Brothers of Italy and Poland’s Law and Justice, said that "a large majority of national delegations within the ECR Group have confirmed that they would vote against"&nbsp;but that the group would have a "free vote."

<h2>Ursula von der Leyen European Commission president: What does it mean?</h2>

Her re-election for a second consecutive term marks a vote for stability during a tumultuous time in Europe. Several key European leaders, such as French President Emmanuel Macron and in von der Leyen's own country, German Chancellor Olaf Scholz are faced with the rise of the far-right.&nbsp;

Von der Leyen's re-election would mean the EU's consistent position to keep up with the carbon emission targets in the times when the countries of the Global South are taking on the West for their outsized role in climate change due to historical emissions.&nbsp;

For the United States, von der Leyen's re-election means a continued European show of competitiveness against Chinese tech prowess.&nbsp;

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5 more years. 
 
I can’t begin to express how grateful I am for the trust of all MEPs that voted for me. <a href="https://t.co/d9n3yfIVtS">pic.twitter.com/d9n3yfIVtS</a>
— Ursula von der Leyen (@vonderleyen) <a href="https://twitter.com/vonderleyen/status/1813916725991354676?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
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&nbsp;

<h2>Who is Ursula von der Leyen?</h2>

Born in post-Second World War Brussels to German parents in 1958, Ursula von der Leyen is a member of Germany's centre-right Christian Democratic Union and its affiliated party, the European People's Party. She formerly served as defence minister in former German chancellor Angela Merkel's cabinet.&nbsp;

A product of the London School of Economics of the Class of 1978, Merkel attended a medical school in Germany's Hanover and acquired a medical license in 1987, just two years before the fall of the Berlin Wall.&nbsp;

After joining German politics in the late 1990s, she served as a cabinet minister in Lower Saxony's government between 2003 and 2005.&nbsp;

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She served as a deputy leader of Merkel's Christian Democratic Union from 2010 to 2019. Von der Leyen was seen as a leading contender to succeed Merkel as chancellor of Germany and as the favourite to become secretary general of NATO after Jens Stoltenberg.

As European Commission president, von der Leyen has helmed over two crucial crises of her generation: the COVID-19 pandemic and war in Ukraine.&nbsp;

Her second tenure as European Commission president faces the challenge of a potential Donald Trump presidency in the United States amid war in Ukraine.&nbsp;

(With inputs from agencies)

The European parliament on Thursday (July 18) confirmed Ursula von der Leyen as European Commission president. She will now serve a second five-year term in a row as president of the European Commission, the executive arm of the European Union.

The European parliament on Thursday (July 18) confirmed Ursula von der Leyen as European Commission president. She will now serve a second five-year term in a row as president of the European Commission, the executive arm of the European Union. A total of 401 Members of the European Parliament (MEPs) voted in von der Leyen's favour while 284 voted against and 15 abstained. The European Conservatives and Reformists group, which includes Italian Prime Minister Giorgia Meloni’s Brothers of Italy and Poland’s Law and Justice, said that "a large majority of national delegations within the ECR Group have confirmed that they would vote against" but that the group would have a "free vote." Ursula von der Leyen European Commission president: What does it mean? Her re-election for a second consecutive term marks a vote for stability during a tumultuous time in Europe. Several key European leaders, such as French President Emmanuel Macron and in von der Leyen's own country, German Chancellor Olaf Scholz are faced with the rise of the far-right. Von der Leyen's re-election would mean the EU's consistent position to keep up with the carbon emission targets in the times when the countries of the Global South are taking on the West for their outsized role in climate change due to historical emissions. For the United States, von der Leyen's re-election means a continued European show of competitiveness against Chinese tech prowess. 5 more years. I can’t begin to express how grateful I am for the trust of all MEPs that voted for me. pic.twitter.com/d9n3yfIVtS — Ursula von der Leyen (@vonderleyen) July 18, 2024 × Who is Ursula von der Leyen? Born in post-Second World War Brussels to German parents in 1958, Ursula von der Leyen is a member of Germany's centre-right Christian Democratic Union and its affiliated party, the European People's Party. She formerly served as defence minister in former German chancellor Angela Merkel's cabinet. A product of the London School of Economics of the Class of 1978, Merkel attended a medical school in Germany's Hanover and acquired a medical license in 1987, just two years before the fall of the Berlin Wall. After joining German politics in the late 1990s, she served as a cabinet minister in Lower Saxony's government between 2003 and 2005. Also read | Court rules European Commission chief Ursula violated transparency norms in vaccine contracts She served as a deputy leader of Merkel's Christian Democratic Union from 2010 to 2019. Von der Leyen was seen as a leading contender to succeed Merkel as chancellor of Germany and as the favourite to become secretary general of NATO after Jens Stoltenberg. As European Commission president, von der Leyen has helmed over two crucial crises of her generation: the COVID-19 pandemic and war in Ukraine. Her second tenure as European Commission president faces the challenge of a potential Donald Trump presidency in the United States amid war in Ukraine. (With inputs from agencies)

Ursula von der Leyen re-elected as European Commission president despite opposition from Meloni's party

Over a month after the European Union Parliament elections were held lawmakers have retained Roberta Metsola as the president for a second term. Watch this video to know more.

Who is Maltese lawmaker Roberta Metsola?

The European Union is currently grappling with a complex&nbsp;issue regarding the imposition of tariffs on electric vehicles (EVs) imported from China. This matter has brought to light significant divisions among EU member states, as evidenced by a recent non-binding advisory vote.

The European Commission, which is responsible for overseeing the EU's trade policies, has proposed provisional duties of up to 37.6 per cent&nbsp;on Chinese-built EVs. The Commission argues that these tariffs are necessary to counter what they perceive as unfair subsidies provided by the Chinese government to their EV manufacturers. To gauge the sentiment among EU members, the Commission conducted an advisory vote, the results of which were revealed on Tuesday.

The outcome of this vote demonstrates the lack of consensus among EU nations on this issue. According to sources familiar with the voting process, twelve EU members expressed support for the tariffs, while four voted against them. Eleven member states chose to abstain, highlighting the uncertainty and hesitation surrounding this decision.

Although this vote is not legally binding, it carries significant weight and is expected to influence the Commission's final decision on whether to implement definitive duties. The Commission will likely take these results into careful consideration as they move forward with what is being described as the EU's most high-profile trade case to date.

Should the Commission decide to advocate for permanent duties after its investigation, the matter will proceed to a binding vote among EU members. For the tariffs to be rejected, a qualified majority of 15 member countries representing 65 per cent&nbsp;of the EU population would need to vote against them. If the voting pattern from the advisory vote were to be replicated in this binding vote, the definitive duties would be implemented, typically for five years.

However, the substantial number of abstentions in the advisory vote underscores the ambivalence felt by many EU members. These nations are caught between acknowledging the Commission's arguments for maintaining a level playing field in trade and the potential risks of igniting a trade war with China. Beijing has already threatened extensive retaliation if these tariffs are imposed, adding another layer of complexity to the situation.

The proposed tariffs have faced opposition from German carmakers, who have a significant stake in the Chinese market. Last year, these manufacturers made one-third of their sales in China. They have urged the EU to reconsider the tariffs, which would not only affect Chinese producers like BYD, Geely, and SAIC but also impact Western automakers such as Tesla and BMW, who manufacture vehicles in China.

The voting patterns reveal interesting dynamics among EU members. France, Italy, and Spain supported the tariffs, while Germany, Finland, and Sweden chose to abstain. A German source described their abstention as an act of "critical solidarity" with the Commission, indicating a nuanced stance on the issue. Finland expressed doubts about whether the tariffs would serve the EU's interests, particularly given that not all European car manufacturers are in favour of these measures.

Swedish Trade Minister Johan Forssell emphasised the importance of dialogue between the Commission and China to find a mutually agreeable solution. This sentiment reflects a desire for diplomatic resolution rather than escalating trade tensions.

The Commission will continue its investigation for an additional three months before making a final decision. In a potential move towards compromise, there are indications that the Commission may consider lower tariffs for specific models, such as BMW's China-made electric Mini and Volkswagen's Cupra Tavascan.

This situation highlights the delicate balance the EU must strike between protecting its domestic industries and maintaining positive trade relations with China, a major global economic power. The outcome of this case could have far-reaching implications for the European automotive industry, international trade relations, and the future of electric vehicle manufacturing and sales in the EU.

The European Union is currently grappling with a complex issue regarding the imposition of tariffs on electric vehicles (EVs) imported from China. This matter has brought to light significant divisions among EU member states, as evidenced by a recent non-binding advisory vote.

The European Union is currently grappling with a complex issue regarding the imposition of tariffs on electric vehicles (EVs) imported from China. This matter has brought to light significant divisions among EU member states, as evidenced by a recent non-binding advisory vote. The European Commission, which is responsible for overseeing the EU's trade policies, has proposed provisional duties of up to 37.6 per cent on Chinese-built EVs. The Commission argues that these tariffs are necessary to counter what they perceive as unfair subsidies provided by the Chinese government to their EV manufacturers. To gauge the sentiment among EU members, the Commission conducted an advisory vote, the results of which were revealed on Tuesday. The outcome of this vote demonstrates the lack of consensus among EU nations on this issue. According to sources familiar with the voting process, twelve EU members expressed support for the tariffs, while four voted against them. Eleven member states chose to abstain, highlighting the uncertainty and hesitation surrounding this decision. Although this vote is not legally binding, it carries significant weight and is expected to influence the Commission's final decision on whether to implement definitive duties. The Commission will likely take these results into careful consideration as they move forward with what is being described as the EU's most high-profile trade case to date. Should the Commission decide to advocate for permanent duties after its investigation, the matter will proceed to a binding vote among EU members. For the tariffs to be rejected, a qualified majority of 15 member countries representing 65 per cent of the EU population would need to vote against them. If the voting pattern from the advisory vote were to be replicated in this binding vote, the definitive duties would be implemented, typically for five years. However, the substantial number of abstentions in the advisory vote underscores the ambivalence felt by many EU members. These nations are caught between acknowledging the Commission's arguments for maintaining a level playing field in trade and the potential risks of igniting a trade war with China. Beijing has already threatened extensive retaliation if these tariffs are imposed, adding another layer of complexity to the situation. The proposed tariffs have faced opposition from German carmakers, who have a significant stake in the Chinese market. Last year, these manufacturers made one-third of their sales in China. They have urged the EU to reconsider the tariffs, which would not only affect Chinese producers like BYD, Geely, and SAIC but also impact Western automakers such as Tesla and BMW, who manufacture vehicles in China. The voting patterns reveal interesting dynamics among EU members. France, Italy, and Spain supported the tariffs, while Germany, Finland, and Sweden chose to abstain. A German source described their abstention as an act of "critical solidarity" with the Commission, indicating a nuanced stance on the issue. Finland expressed doubts about whether the tariffs would serve the EU's interests, particularly given that not all European car manufacturers are in favour of these measures. Swedish Trade Minister Johan Forssell emphasised the importance of dialogue between the Commission and China to find a mutually agreeable solution. This sentiment reflects a desire for diplomatic resolution rather than escalating trade tensions. The Commission will continue its investigation for an additional three months before making a final decision. In a potential move towards compromise, there are indications that the Commission may consider lower tariffs for specific models, such as BMW's China-made electric Mini and Volkswagen's Cupra Tavascan. This situation highlights the delicate balance the EU must strike between protecting its domestic industries and maintaining positive trade relations with China, a major global economic power. The outcome of this case could have far-reaching implications for the European automotive industry, international trade relations, and the future of electric vehicle manufacturing and sales in the EU.

EU countries divided votes on Chinese EV tariffs, claim sources

The European Commission was wrong to redact details of multi-billion-euro deals it struck to secure Covid vaccines during the coronavirus pandemic, an EU court said on Wednesday.

The commission failed to show how divulging indemnification details would harm the commercial interests of the pharmaceutical groups supplying the vaccines, the EU General Court ruled.

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It also failed a "public interest" test by keeping secret the names of the EU officials involved, the court said.

The ruling hands a victory to EU lawmakers and individuals who had requested the details from 2.7 billion euros' ($2.95 billion)) worth of Covid vaccine purchase agreements the commission had negotiated in 2020-2021.

The commission -- run by President Ursula von der Leyen, who is in trouble separately for allegedly keeping secret and deleting text messages with the boss of Pfizer over vaccine purchases -- had offered only redacted versions of the contracts it had signed.

It argued that releasing the blacked-out details would jeopardise the commercial relationships with the pharmaceutical companies, notably where it came to liability and indemnification in the event of vaccine defects.

The commission had also argued that it needed to keep private the identities and words used by members of its team who negotiated the deals.

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But the EU court upheld "in part" the lawsuits lodged by those seeking access to those details "and annuls the Commission's decisions in so far as they contain irregularities".

"The Commission did not demonstrate that wider access to those clauses would actually undermine the commercial interests of those undertakings," it said.

Also, it found that those behind the lawsuit had demonstrated the public interest of having access to the personal details of the commission's vaccine-negotiating team.

"It was only by having the names, surnames and details of the professional or institutional role of the members of the team in question that they could have ascertained whether or not the members of that team had a conflict of interests," the court said.

The commission has until late September to lodge an appeal before the European Court of Justice if it wants to challenge the ruling of the General Court.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

The European Commission was wrong to redact details of multi-billion-euro deals it struck to secure Covid vaccines during the coronavirus pandemic, an EU court said on Wednesday.

The European Commission was wrong to redact details of multi-billion-euro deals it struck to secure Covid vaccines during the coronavirus pandemic, an EU court said on Wednesday. The commission failed to show how divulging indemnification details would harm the commercial interests of the pharmaceutical groups supplying the vaccines, the EU General Court ruled. Also read: Biden calls Kamala Harris a potential 'president' candidate for United States It also failed a "public interest" test by keeping secret the names of the EU officials involved, the court said. The ruling hands a victory to EU lawmakers and individuals who had requested the details from 2.7 billion euros' ($2.95 billion)) worth of Covid vaccine purchase agreements the commission had negotiated in 2020-2021. The commission -- run by President Ursula von der Leyen, who is in trouble separately for allegedly keeping secret and deleting text messages with the boss of Pfizer over vaccine purchases -- had offered only redacted versions of the contracts it had signed. It argued that releasing the blacked-out details would jeopardise the commercial relationships with the pharmaceutical companies, notably where it came to liability and indemnification in the event of vaccine defects. The commission had also argued that it needed to keep private the identities and words used by members of its team who negotiated the deals. Also read: Over 60 Palestinians killed in Israeli airstrikes across Gaza Strip But the EU court upheld "in part" the lawsuits lodged by those seeking access to those details "and annuls the Commission's decisions in so far as they contain irregularities". "The Commission did not demonstrate that wider access to those clauses would actually undermine the commercial interests of those undertakings," it said. Also, it found that those behind the lawsuit had demonstrated the public interest of having access to the personal details of the commission's vaccine-negotiating team. "It was only by having the names, surnames and details of the professional or institutional role of the members of the team in question that they could have ascertained whether or not the members of that team had a conflict of interests," the court said. The commission has until late September to lodge an appeal before the European Court of Justice if it wants to challenge the ruling of the General Court. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

EU court: Commission failed to disclose enough information on Covid vaccine deals

Since October 2023, sanctions imposed by the US, UK, and EU have targeted dozens of Russian oil tankers. The impact has been significant. Over half, or 53, of these sanctioned vessels currently sit idle.

53 Russian oil tankers go idle due to sanctions

Joe Biden has shown support for Keir Starmer's goal of fostering a closer relationship between the UK and the European Union during their first bilateral talks at the White House.

The US president called the US and the UK the best of allies as he met the new UK prime minister.

Biden said, “I kind of see you guys as the knot tying the transatlantic alliance together, the closer you are with Europe,” he told Starmer.

Also read:&nbsp;<a href="https://www.wionews.com/world/nato-summit-us-to-deploy-weapons-in-germany-concerns-raised-over-russia-north-korea-ties-739754">NATO Summit: US to deploy weapons in Germany; concerns raised over Russia-North Korea ties</a>

Biden has maintained a strong interest in Brexit, consistently cautioning that peace in Northern Ireland must not be endangered by complications arising from the UK's decision to leave the EU.

Notably, the UK PM has used the NATO summit to emphasise the UK’s commitment to the alliance, as well as to Ukraine, assuring that he will stick with plans to spend at least £3bn ($35,913,257.56 USD) every year on military support to Kyiv for “as long as is it takes” in its conflict with Russia.

Starmer is also trying to build relationships with European leaders as he tries to seal an EU-UK security pact.

“The relationship is special and important. It’s forged in difficult circumstances, endured for so long, and stronger now than ever,” the UK PM said and added, “I’m very contented to be able to come so early in government to recommit to NATO, to recommit to the special relationship.”

<h2>Biden-Starmer meet</h2>

At the beginning of their talks, Biden was asked by reporters about George Clooney's article in the New York Times, which suggested that Biden should step down as the Democratic presidential candidate. The president simply shrugged in response.

When asked by reporters if “football is coming home”? “It looks like it,” Starmer replied.

UK PM told the US President, “I began to watch the game with the Netherlands prime minister, but we left at 1-1.”

Biden threw his head back and laughed, revealing a glistening set of teeth. “And you guys are still talking to one another?” he joked.

Also read:&nbsp;<a href="https://www.wionews.com/world/nato-summit-ukraine-gets-f-16-jets-irreversible-path-to-bloc-membership-739654">NATO summit: Ukraine gets F-16 jets, 'irreversible' path to bloc membership</a>

Earlier, the prime minister, an avid football fan, presented the president with an Arsenal shirt featuring the name "Biden" and the number 46 on the back—a nod to his position as the 46th US president.&nbsp;

“It’s [Starmer’s] team and [he] thought it would make a personal gift,” a senior No 10 official said.&nbsp;

Starmer has earlier given the French President Emmanuel Macron an Arsenal t-shirt as a gift.

He also gave Biden a framed copy of the original Atlantic charter that led to the formation of NATO, with then Labour prime minister Clement Attlee’s amendments.

After the talks, the Bidens were hosting Starmer, who has been accompanied by his wife, Victoria, to Washington, and other Nato leaders and their partners at a glitzy White House dinner.

(With inputs from agencies)

Joe Biden has shown support for Keir Starmer's goal of fostering a closer relationship between the UK and the European Union during their first bilateral talks at the White House.

Joe Biden has shown support for Keir Starmer's goal of fostering a closer relationship between the UK and the European Union during their first bilateral talks at the White House. The US president called the US and the UK the best of allies as he met the new UK prime minister. Biden said, “I kind of see you guys as the knot tying the transatlantic alliance together, the closer you are with Europe,” he told Starmer. Also read: NATO Summit: US to deploy weapons in Germany; concerns raised over Russia-North Korea ties Biden has maintained a strong interest in Brexit, consistently cautioning that peace in Northern Ireland must not be endangered by complications arising from the UK's decision to leave the EU. Notably, the UK PM has used the NATO summit to emphasise the UK’s commitment to the alliance, as well as to Ukraine, assuring that he will stick with plans to spend at least £3bn ($35,913,257.56 USD) every year on military support to Kyiv for “as long as is it takes” in its conflict with Russia. Starmer is also trying to build relationships with European leaders as he tries to seal an EU-UK security pact. “The relationship is special and important. It’s forged in difficult circumstances, endured for so long, and stronger now than ever,” the UK PM said and added, “I’m very contented to be able to come so early in government to recommit to NATO, to recommit to the special relationship.” Biden-Starmer meet At the beginning of their talks, Biden was asked by reporters about George Clooney's article in the New York Times, which suggested that Biden should step down as the Democratic presidential candidate. The president simply shrugged in response. When asked by reporters if “football is coming home”? “It looks like it,” Starmer replied. UK PM told the US President, “I began to watch the game with the Netherlands prime minister, but we left at 1-1.” Biden threw his head back and laughed, revealing a glistening set of teeth. “And you guys are still talking to one another?” he joked. Also read: NATO summit: Ukraine gets F-16 jets, 'irreversible' path to bloc membership Earlier, the prime minister, an avid football fan, presented the president with an Arsenal shirt featuring the name "Biden" and the number 46 on the back—a nod to his position as the 46th US president. “It’s [Starmer’s] team and [he] thought it would make a personal gift,” a senior No 10 official said. Starmer has earlier given the French President Emmanuel Macron an Arsenal t-shirt as a gift. He also gave Biden a framed copy of the original Atlantic charter that led to the formation of NATO, with then Labour prime minister Clement Attlee’s amendments. After the talks, the Bidens were hosting Starmer, who has been accompanied by his wife, Victoria, to Washington, and other Nato leaders and their partners at a glitzy White House dinner. (With inputs from agencies)

UK should strengthen ties with EU: Biden to Starmer

The European Union's climate monitor has revealed that last month was the hottest June on record across the globe. The global temperature in June was record warm for the 13th straight month and it marked the 12th straight month that the world was 1.5 degrees Celsius warmer than pre-industrial times.

EU climate monitor warns weather extremes

The European Commission held consultations with the region's semiconductor industry to garner views on China's ramp-up in the production of older-generation computer chips, according to sources quoted by Reuters.

The move was in a bid to expand its forthcoming two voluntary surveys covering major chip-consuming industrial firms and the chip industry, respectively, slated for release in September. 
The Commission does not yet have any comments regarding the initiative.

The tensions with Beijing come as Brussels is increasingly protecting its industries from Chinese competition. Most recently, the Commission imposed provisional duties of up to 37.6 per cent on Chinese electric vehicles.

According to trade analysts, the tariffs could signal a more hard-line Europe when it comes to China. State subsidies mean China's semiconductor industry is heavily investing in a major expansion of output of older, or so-called legacy, chips.

That, in part, is a workaround to a set of US-led restrictions that have limited China's access to more advanced computer chips.

Although this will reduce the country's short-term reliance on foreign chips, Western governments are concerned that it could result in oversupplying the chip market—the type used for appliances and vehicles.

Margrethe Vestager, the Commission's antitrust chief, signalled that the EU may examine legacy chips following a meeting with US officials, including Commerce Secretary Gina Raimondo, in Belgium in April.

This occurred after the Commission published a 712-page report outlining the far-reaching support that Beijing was providing to domestic firms in several sectors, from semiconductors and telecommunications to renewable energy, in April.

To trade analysts, the report was an indication that Brussels might open more cases against China.

It has been said that future chip-focused questionnaires will be wider in scope than similar security-focused surveys conducted by the US Department of Commerce.

The questionnaires by the EU will gather information on where industrial companies source chips and details about chip firms' products, pricing, and guesses about their competitors, including those in China.

To ASML—the EU's largest technology group—a ramp-up in legacy chip output from China is certainly a shot in the arm to revenues that were curtailed by the United States lead in cutting-edge technology exports.

However, the issue is highly nuanced for chipmakers such as Germany's Infineon, France's STMicroelectronics, and NXP of the Netherlands.

Few other companies are as significantly exposed to chip production for automotive and electrical infrastructure as these three firms, hence the rising competitive threat of China, against which they cannot afford to offend the leadership as business partners.

It's therefore unlikely that European firms—industrial, aerospace, automotive, health-tech, and energy sector firms—will be very open to revealing the use of Chinese legacy chips.

In addition, the complexity introduced into chipmaking and packaging across borders renders it hard for companies to know the origin of their used chipsets.

In particular, German carmakers oppose the tariffs on Chinese EVs, as their sales are quite huge in China, and they have diversified chip suppliers following chip shortages during the COVID-19 pandemic.

The European Commission held consultations with the region's semiconductor industry to garner views on China's ramp-up in the production of older-generation computer chips, according to sources quoted by Reuters.

The European Commission held consultations with the region's semiconductor industry to garner views on China's ramp-up in the production of older-generation computer chips, according to sources quoted by Reuters. The move was in a bid to expand its forthcoming two voluntary surveys covering major chip-consuming industrial firms and the chip industry, respectively, slated for release in September. The Commission does not yet have any comments regarding the initiative. The tensions with Beijing come as Brussels is increasingly protecting its industries from Chinese competition. Most recently, the Commission imposed provisional duties of up to 37.6 per cent on Chinese electric vehicles. According to trade analysts, the tariffs could signal a more hard-line Europe when it comes to China. State subsidies mean China's semiconductor industry is heavily investing in a major expansion of output of older, or so-called legacy, chips. That, in part, is a workaround to a set of US-led restrictions that have limited China's access to more advanced computer chips. Although this will reduce the country's short-term reliance on foreign chips, Western governments are concerned that it could result in oversupplying the chip market—the type used for appliances and vehicles. Margrethe Vestager, the Commission's antitrust chief, signalled that the EU may examine legacy chips following a meeting with US officials, including Commerce Secretary Gina Raimondo, in Belgium in April. This occurred after the Commission published a 712-page report outlining the far-reaching support that Beijing was providing to domestic firms in several sectors, from semiconductors and telecommunications to renewable energy, in April. To trade analysts, the report was an indication that Brussels might open more cases against China. It has been said that future chip-focused questionnaires will be wider in scope than similar security-focused surveys conducted by the US Department of Commerce. The questionnaires by the EU will gather information on where industrial companies source chips and details about chip firms' products, pricing, and guesses about their competitors, including those in China. To ASML—the EU's largest technology group—a ramp-up in legacy chip output from China is certainly a shot in the arm to revenues that were curtailed by the United States lead in cutting-edge technology exports. However, the issue is highly nuanced for chipmakers such as Germany's Infineon, France's STMicroelectronics, and NXP of the Netherlands. Few other companies are as significantly exposed to chip production for automotive and electrical infrastructure as these three firms, hence the rising competitive threat of China, against which they cannot afford to offend the leadership as business partners. It's therefore unlikely that European firms—industrial, aerospace, automotive, health-tech, and energy sector firms—will be very open to revealing the use of Chinese legacy chips. In addition, the complexity introduced into chipmaking and packaging across borders renders it hard for companies to know the origin of their used chipsets. In particular, German carmakers oppose the tariffs on Chinese EVs, as their sales are quite huge in China, and they have diversified chip suppliers following chip shortages during the COVID-19 pandemic.

EU reviews semiconductor industry amid China's legacy chip expansion

China Association of Automobile Manufacturers (CAAM) has&nbsp;expressed severe dissatisfaction over the proposed anti-subsidy tariffs set by the European Union.

CAAM alleged that although the manufacturer had cooperated with the European Commission's investigation over Chinese subsidies, the investigation ignored the facts and came up with preset results. CAAM posted this on Saturday from a Chinese messaging app called WeChat.

The EU's signed-off tariffs of up to 37.6 per cent on imports of Chinese-made electric vehicles took effect Friday. These duties are provisional for four months, during which intensive talks are expected between the two sides.

"CAAM deeply regrets this and holds it firmly unacceptable," the industry group said.

The provisional duties - between 17.4 per cent and 37.6 per cent, without backdating - are designed to prevent what European Commission President Ursula von der Leyen said could be a flood of cheap Chinese electric cars built with state subsidies.

Mao Ning, spokesperson for the Ministry of Foreign Affairs, also voiced her concerns about EU subsidies. 'China has made clear its position on many occasions regarding EU's anti-subsidy probe into EVs made in China. We are strongly opposed to this. We always believe that specific economic and trade issues should be properly settled through dialogue and negotiation. China will also take necessary measures to resolutely safeguard its legitimate rights and interests,' she said.

The EU investigation into anti-subsidies has almost four months left to run provisionally.&nbsp;

China Association of Automobile Manufacturers (CAAM) has expressed severe dissatisfaction over the proposed anti-subsidy tariffs set by the European Union. CAAM alleged that although the manufacturer had cooperated with the European Commission's investigation over Chinese subsidies, the investigation ignored the facts and came up with preset results.

China Association of Automobile Manufacturers (CAAM) has expressed severe dissatisfaction over the proposed anti-subsidy tariffs set by the European Union. CAAM alleged that although the manufacturer had cooperated with the European Commission's investigation over Chinese subsidies, the investigation ignored the facts and came up with preset results. CAAM posted this on Saturday from a Chinese messaging app called WeChat. The EU's signed-off tariffs of up to 37.6 per cent on imports of Chinese-made electric vehicles took effect Friday. These duties are provisional for four months, during which intensive talks are expected between the two sides. "CAAM deeply regrets this and holds it firmly unacceptable," the industry group said. The provisional duties - between 17.4 per cent and 37.6 per cent, without backdating - are designed to prevent what European Commission President Ursula von der Leyen said could be a flood of cheap Chinese electric cars built with state subsidies. Mao Ning, spokesperson for the Ministry of Foreign Affairs, also voiced her concerns about EU subsidies. 'China has made clear its position on many occasions regarding EU's anti-subsidy probe into EVs made in China. We are strongly opposed to this. We always believe that specific economic and trade issues should be properly settled through dialogue and negotiation. China will also take necessary measures to resolutely safeguard its legitimate rights and interests,' she said. The EU investigation into anti-subsidies has almost four months left to run provisionally.

Chinese automakers express strong dissatisfaction over EU anti-subsidy tariffs

The European Union (EU) has announced tariffs of up to 37.6% on electric vehicles (EVs) imported from China, a move that is expected to heighten trade tensions between Brussels and Beijing. The tariffs, effective from Friday, are part of the EU's largest trade case to date and are aimed at countering what the EU sees as unfair competition from Chinese EV manufacturers benefiting from state subsidies.

Provisional tariffs and ongoing negotiations

The European Commission, the EU's executive arm, has imposed these provisional duties, ranging from 17.4% to 37.6%, with a four-month window for negotiations. During this period, intensive talks are expected to continue between the EU and China, with Beijing threatening wide-ranging retaliation.

Addressing market distortion

EU Commission President Ursula von der Leyen has emphasised that these measures are designed to prevent a flood of cheap EVs that are built with significant state subsidies from China. The detailed tariff rates are outlined in a 208-page document published on Thursday, following minor adjustments after initial errors were identified by companies.

Also read:&nbsp;<a href="https://www.wionews.com/autonews/teslas-indian-market-plans-face-major-hurdles-amidst-global-challenges-738139">Tesla's Indian market plans face major hurdles amidst global challenges</a>

Beijing's response

In response, Beijing has vowed to take "all necessary measures" to safeguard its interests. Potential retaliatory actions could include tariffs on European exports to China, such as cognac and pork. EU Trade Chief Valdis Dombrovskis has countered, stating that there is no basis for China's retaliation, as the EU aims to ensure fair competition and a level playing field.

The scope of the anti-subsidy investigation

The EU's anti-subsidy investigation has nearly four more months to run. At its conclusion, the Commission could propose definitive duties, typically applying for five years, on which EU member states would vote. Dombrovskis has indicated that ongoing talks with China could yield a mutually beneficial solution, potentially avoiding the application of tariffs if market distortions are addressed.

Tariff impact on Chinese automakers

Several Chinese automakers, including BYD, Geely, and SAIC, are facing significant duties. BYD faces tariffs of 17.4%, Geely 19.9%, and SAIC 37.6%, on top of the EU's standard 10% duty on car imports. Western carmakers with manufacturing in China, such as Tesla and BMW, will also be subject to tariffs of 20.8% if they cooperated with the investigation, and 37.6% if they did not.

Strategic decisions for Chinese EV makers

Chinese EV manufacturers now face a strategic decision: whether to absorb the tariffs or pass the increased costs onto European consumers. This decision comes at a time when Chinese automakers are eager to expand their sales outside of China, where a domestic price war is taking a toll on their profitability.

Potential consequences for the European market

Opponents of the tariffs argue that increased EV costs for European consumers could undermine the EU's goal of becoming carbon-neutral by 2050. Chinese brands like MG and Nio have suggested they might raise prices in Europe later this year, while Tesla has already announced plans to increase the prices of its Model 3.

Investment in European manufacturing

The prospect of hefty tariffs might spur Chinese automakers to invest in manufacturing facilities in Europe, despite higher labour and production costs. On Thursday, Xpeng became the latest EV maker to consider setting up manufacturing operations in the region to circumvent the tariffs.

Reactions from the European automotive industry

Europe's largest carmaker, Volkswagen, was quick to criticise the EU's decision. A spokesperson for Volkswagen stated that the negative effects of the tariffs outweigh any benefits for the European, particularly the German, automotive industry. Auto industry executives have expressed concerns about potential Chinese counter-measures, which could further affect the competitiveness of European cars in China, a critical market for German carmakers.

Market dynamics and future prospects

The EU Commission estimates that Chinese brands' share of the EU market has risen to 8% from below 1% in 2019 and could reach 15% by 2025. Chinese EVs are typically priced about 20% lower than EU-made models, contributing to their growing market share.

Historical context and policy challenges

European policymakers are wary of repeating past mistakes, such as those made with solar panels a decade ago, when limited action against Chinese imports led to the collapse of many European manufacturers. The EU launched its anti-subsidy investigation into Chinese EVs last October, reflecting its proactive stance.

Navigating a complex trade landscape

The issue will soon face an advisory vote by EU members, testing support for the Commission's case. Despite the provisional nature of the tariffs, the ongoing discussions highlight the complexity of balancing trade protection with market dynamics. The evolving scenario underscores the EU's challenge in fostering fair competition while navigating the intricate landscape of international trade relations.

(Inputs from Reuters)

The European Union (EU) has announced tariffs of up to 37.6% on electric vehicles (EVs) imported from China, a move that is expected to heighten trade tensions between Brussels and Beijing.

The European Union (EU) has announced tariffs of up to 37.6% on electric vehicles (EVs) imported from China, a move that is expected to heighten trade tensions between Brussels and Beijing. The tariffs, effective from Friday, are part of the EU's largest trade case to date and are aimed at countering what the EU sees as unfair competition from Chinese EV manufacturers benefiting from state subsidies. Provisional tariffs and ongoing negotiations The European Commission, the EU's executive arm, has imposed these provisional duties, ranging from 17.4% to 37.6%, with a four-month window for negotiations. During this period, intensive talks are expected to continue between the EU and China, with Beijing threatening wide-ranging retaliation. Addressing market distortion EU Commission President Ursula von der Leyen has emphasised that these measures are designed to prevent a flood of cheap EVs that are built with significant state subsidies from China. The detailed tariff rates are outlined in a 208-page document published on Thursday, following minor adjustments after initial errors were identified by companies. Also read: Tesla's Indian market plans face major hurdles amidst global challenges Beijing's response In response, Beijing has vowed to take "all necessary measures" to safeguard its interests. Potential retaliatory actions could include tariffs on European exports to China, such as cognac and pork. EU Trade Chief Valdis Dombrovskis has countered, stating that there is no basis for China's retaliation, as the EU aims to ensure fair competition and a level playing field. The scope of the anti-subsidy investigation The EU's anti-subsidy investigation has nearly four more months to run. At its conclusion, the Commission could propose definitive duties, typically applying for five years, on which EU member states would vote. Dombrovskis has indicated that ongoing talks with China could yield a mutually beneficial solution, potentially avoiding the application of tariffs if market distortions are addressed. Tariff impact on Chinese automakers Several Chinese automakers, including BYD, Geely, and SAIC, are facing significant duties. BYD faces tariffs of 17.4%, Geely 19.9%, and SAIC 37.6%, on top of the EU's standard 10% duty on car imports. Western carmakers with manufacturing in China, such as Tesla and BMW, will also be subject to tariffs of 20.8% if they cooperated with the investigation, and 37.6% if they did not. Strategic decisions for Chinese EV makers Chinese EV manufacturers now face a strategic decision: whether to absorb the tariffs or pass the increased costs onto European consumers. This decision comes at a time when Chinese automakers are eager to expand their sales outside of China, where a domestic price war is taking a toll on their profitability. Potential consequences for the European market Opponents of the tariffs argue that increased EV costs for European consumers could undermine the EU's goal of becoming carbon-neutral by 2050. Chinese brands like MG and Nio have suggested they might raise prices in Europe later this year, while Tesla has already announced plans to increase the prices of its Model 3. Investment in European manufacturing The prospect of hefty tariffs might spur Chinese automakers to invest in manufacturing facilities in Europe, despite higher labour and production costs. On Thursday, Xpeng became the latest EV maker to consider setting up manufacturing operations in the region to circumvent the tariffs. Reactions from the European automotive industry Europe's largest carmaker, Volkswagen, was quick to criticise the EU's decision. A spokesperson for Volkswagen stated that the negative effects of the tariffs outweigh any benefits for the European, particularly the German, automotive industry. Auto industry executives have expressed concerns about potential Chinese counter-measures, which could further affect the competitiveness of European cars in China, a critical market for German carmakers. Market dynamics and future prospects The EU Commission estimates that Chinese brands' share of the EU market has risen to 8% from below 1% in 2019 and could reach 15% by 2025. Chinese EVs are typically priced about 20% lower than EU-made models, contributing to their growing market share. Historical context and policy challenges European policymakers are wary of repeating past mistakes, such as those made with solar panels a decade ago, when limited action against Chinese imports led to the collapse of many European manufacturers. The EU launched its anti-subsidy investigation into Chinese EVs last October, reflecting its proactive stance. Navigating a complex trade landscape The issue will soon face an advisory vote by EU members, testing support for the Commission's case. Despite the provisional nature of the tariffs, the ongoing discussions highlight the complexity of balancing trade protection with market dynamics. The evolving scenario underscores the EU's challenge in fostering fair competition while navigating the intricate landscape of international trade relations. (Inputs from Reuters)

EU imposes steep tariffs on Chinese EVs, escalating trade tensions

The European Union will attach tariffs of up to 37.6 per cent on all-electric cars imported from China starting this Friday. This comes at a time when trade friction is rising between the economic giants.

The EU Commission claims that the Chinese government is distorting the market by excessively subsidising the country's EV industry, creating unfair competition within the European single market that threatens the destruction of the car manufacturers.

The EU Commission, the executive arm of the bloc, will impose provisional duties of between 17.4 per cent and 37.6 per cent to fend off the evolvement into solar panels ten years ago when limited action against Chinese imports collapsed a host of European manufacturers.

China has already warned of further counter-tariffs on European trade, covering products such as cognac and pork.

"Talks should be ongoing during the four-month provisional &nbsp;.with a view to a possible settlement before any definitive duties are to be imposed by the EU," China's commerce ministry spokesman, He Yadong, told the news agency.

Carmakers such as BYD, Geely, and SAIC are to be hit with the highest tariffs, but those regarded as having cooperated with the EU investigation, including Tesla and BMW, will be slightly lower.

The bloc calculates that Chinese EV brands have added market share, growing from less than 1 per cent in 2019 to 8 per cent now, and say they could account for 15 per cent by 2025, often at prices 20 per cent lower than European models.

Downplayed by the Chinese Passenger Car Association, these tariffs were going to take their toll moderately on most Chinese firms.

This development is occurring barely three weeks after the US is going to instigate a 100 per cent tariff on Chinese imports of emergent electric vehicles, making the point in the background of the fierce message of global competition in an energy vehicle market.

(With inputs from Reuters)

The European Union will attach tariffs of up to 37.6 per cent on all-electric cars imported from China starting this Friday. This comes at a time when trade friction is rising between the economic giants.

The European Union will attach tariffs of up to 37.6 per cent on all-electric cars imported from China starting this Friday. This comes at a time when trade friction is rising between the economic giants. The EU Commission claims that the Chinese government is distorting the market by excessively subsidising the country's EV industry, creating unfair competition within the European single market that threatens the destruction of the car manufacturers. The EU Commission, the executive arm of the bloc, will impose provisional duties of between 17.4 per cent and 37.6 per cent to fend off the evolvement into solar panels ten years ago when limited action against Chinese imports collapsed a host of European manufacturers. China has already warned of further counter-tariffs on European trade, covering products such as cognac and pork. "Talks should be ongoing during the four-month provisional .with a view to a possible settlement before any definitive duties are to be imposed by the EU," China's commerce ministry spokesman, He Yadong, told the news agency. Carmakers such as BYD, Geely, and SAIC are to be hit with the highest tariffs, but those regarded as having cooperated with the EU investigation, including Tesla and BMW, will be slightly lower. The bloc calculates that Chinese EV brands have added market share, growing from less than 1 per cent in 2019 to 8 per cent now, and say they could account for 15 per cent by 2025, often at prices 20 per cent lower than European models. Downplayed by the Chinese Passenger Car Association, these tariffs were going to take their toll moderately on most Chinese firms. This development is occurring barely three weeks after the US is going to instigate a 100 per cent tariff on Chinese imports of emergent electric vehicles, making the point in the background of the fierce message of global competition in an energy vehicle market. (With inputs from Reuters)

EU imposes tariffs on Chinese EVs as trade tensions escalate

They could be preparing to harden attempts to enable the usage of internal-combustion engines in newly assembled automobiles beyond the eradication of all CO2-emitting cars in 2035 – Europe’s oldest and largest party of lawmakers.

 
Germany already won a proposed stay of execution of ICE technology when the European Commission last year committed to generate a legal avenue for selling new cars that can only run on synthetic fuels, commonly referred to as e-fuels, and carbon-neutral biofuels that are literally fossil fuel surrogates.

 
Now the centre-right European People’s Party – EPP which was an ally to the Socialists on the issue has plans to turn this promise into proper legislation in a document, a draft seen by the Reuters news agency. This week in Portugal, the party’s legislators are in a meeting debating on what should form the party’s policies of the official 5-year term of the European Union Parliament.

 
The draft document of priorities states that the ‘The rules for CO2 reduction for new cars and vans to have options for the use of other zero-emission fuels post 2035 must be revised.’ The document also supplements the idea that the group intends to “remove the ban on the internal combustion engine but work on advanced ICE technologies.”

 
This means that carmakers can carry on with the advancements in ICE technology for more than the next decade using carbon-neutral fuels and most probably equipped with chips that would prevent the use of standard gas or diesel.

 
It would also help to ease current industry concern that recent low sales of battery-electric vehicles indicate that many consumers will never consider them suitable for their mobility needs. In its turn, the move would be beneficial to the expanded application of the hybrid powertrains as well.

 
The speaker of the European Parliament is also the EPP delegation, the newly-elected two-term holder, Ursula Von der Leyen, the former German defense minister whose task is to convince other groups, such as the socialist and democratic ones, which are against the weakening of Europe’s climate change policies.&nbsp;

They could be preparing to harden attempts to enable the usage of internal-combustion engines in newly assembled automobiles beyond the eradication of all CO2-emitting cars in 2035 – Europe’s oldest and largest party of lawmakers.

They could be preparing to harden attempts to enable the usage of internal-combustion engines in newly assembled automobiles beyond the eradication of all CO2-emitting cars in 2035 – Europe’s oldest and largest party of lawmakers. Germany already won a proposed stay of execution of ICE technology when the European Commission last year committed to generate a legal avenue for selling new cars that can only run on synthetic fuels, commonly referred to as e-fuels, and carbon-neutral biofuels that are literally fossil fuel surrogates. Now the centre-right European People’s Party – EPP which was an ally to the Socialists on the issue has plans to turn this promise into proper legislation in a document, a draft seen by the Reuters news agency. This week in Portugal, the party’s legislators are in a meeting debating on what should form the party’s policies of the official 5-year term of the European Union Parliament. The draft document of priorities states that the ‘The rules for CO2 reduction for new cars and vans to have options for the use of other zero-emission fuels post 2035 must be revised.’ The document also supplements the idea that the group intends to “remove the ban on the internal combustion engine but work on advanced ICE technologies.” This means that carmakers can carry on with the advancements in ICE technology for more than the next decade using carbon-neutral fuels and most probably equipped with chips that would prevent the use of standard gas or diesel. It would also help to ease current industry concern that recent low sales of battery-electric vehicles indicate that many consumers will never consider them suitable for their mobility needs. In its turn, the move would be beneficial to the expanded application of the hybrid powertrains as well. The speaker of the European Parliament is also the EPP delegation, the newly-elected two-term holder, Ursula Von der Leyen, the former German defense minister whose task is to convince other groups, such as the socialist and democratic ones, which are against the weakening of Europe’s climate change policies.

EU lawmakers seek to guarantee ICE Tech into next decade

In a key comment aimed at clarifying the European Union’s Carbon Border Adjustment Mechanism the director general of the European Commission's Directorate General of Taxation and Customs, highlighted, that the instrument is not designed as a barrier or a tax, he said it is only an instrument that allows companies with more sustainable products to benefit. The director general spoke to WION's diplomatic correspondent Siddhant Sibbal, listened in.

Exclusive: EU official speaks to WION about CBAM initiative

Meta accused by EU regulators of breaching antitrust rules over its ad-supported subscription service. The European commission labels Meta's model a "pay or consent" approach, requiring users to either pay for an ad-free experience or agree to personalized advertising based on data processing. Introduced last year for Facebook and Instagram in Europe, this service arose from privacy concerns and a European court of justice ruling.

EU accuses Meta of breaching antitrust rules

In a key comment aimed at clarifying the European Union’s Carbon Border Adjustment Mechanism (CBAM), Gerassimos Thomas, Director General of the European Commission's Directorate General of Taxation and Customs (DG TAXUD), has emphasized that the initiative is not a tax or tariff, but a measure designed to reduce carbon emissions. Addressing misconceptions, Thomas highlighted, that CBAM is intended to promote sustainability, rather than acting as a trade barrier between the EU and India.

EU Official clarifies CBAM's environmental focus, stresses positive trade ties with India

The European Central Bank (ECB) will probably reduce interest rates further this year, with any additional easing contingent on inflation declining towards its 2 per cent target, a policymaker was quoted to have said.

The ECB cut rates in June but said it would not do so again as inflation was already above 2 per cent and there was significant doubt whether the target would be met.

While recent statistics paint a picture of continued wage and service price growth, Belgium’s central bank governor, Pierre Wunsch agrees that the initial cuts were simple decisions.

Wunsch said a second-rate cut is likely “if we have no major negative surprises” based on current forecasts. He dismissed it as a statement that the ECB can wait until September for improved projections.

Although inflation is expected to have eased marginally in June, the ECB is expecting a volatile trend from here on, possibly remaining at these levels for the rest of the year.

This could delay further cuts until a more distinct downward trend towards 2 per cent emerges. “To continue with cuts, I would need to be more confident that inflation is declining from 2. 5 per cent towards something closer to 2 per cent,” Wunsch said.

He raised worries about taking real interest rates below 1 per cent. At the moment, the ECB’s deposit rate stands at 3 per cent. 75 per cent, and markets expect one or two more this year, implying that there can be four cuts within the next 18 months.

The economic trends suggest slow economic growth and sound markets, although France elects a far-right president. Wunsch admitted there might be more political instability as several countries are in for necessary fiscal correction after years of fiscal recklessness. 
“We now have five countries in excessive deficit procedures,” Wunsch said. “It will be difficult for all of them.” 
Nevertheless, Wunsch was scathing of the suggestion that the ECB would have to turn to buying bonds in an emergency due to political market pressure.

Recent events have not represented unwarranted and disorderly market moves before intervention, and this is supported by the ECB officials.

‘We need to avoid any appearance of predictability; we cannot afford to imply any kind of mechanistic restrictions on our behaviour,’ Wunsch said. ’The judgment call depends on whether market movements are erratic and excessive’.

The European Central Bank (ECB) will probably reduce interest rates further this year, with any additional easing contingent on inflation declining towards its 2 per cent target, a policymaker was quoted to have said.

The European Central Bank (ECB) will probably reduce interest rates further this year, with any additional easing contingent on inflation declining towards its 2 per cent target, a policymaker was quoted to have said. The ECB cut rates in June but said it would not do so again as inflation was already above 2 per cent and there was significant doubt whether the target would be met. While recent statistics paint a picture of continued wage and service price growth, Belgium’s central bank governor, Pierre Wunsch agrees that the initial cuts were simple decisions. Wunsch said a second-rate cut is likely “if we have no major negative surprises” based on current forecasts. He dismissed it as a statement that the ECB can wait until September for improved projections. Although inflation is expected to have eased marginally in June, the ECB is expecting a volatile trend from here on, possibly remaining at these levels for the rest of the year. This could delay further cuts until a more distinct downward trend towards 2 per cent emerges. “To continue with cuts, I would need to be more confident that inflation is declining from 2. 5 per cent towards something closer to 2 per cent,” Wunsch said. He raised worries about taking real interest rates below 1 per cent. At the moment, the ECB’s deposit rate stands at 3 per cent. 75 per cent, and markets expect one or two more this year, implying that there can be four cuts within the next 18 months. The economic trends suggest slow economic growth and sound markets, although France elects a far-right president. Wunsch admitted there might be more political instability as several countries are in for necessary fiscal correction after years of fiscal recklessness. “We now have five countries in excessive deficit procedures,” Wunsch said. “It will be difficult for all of them.” Nevertheless, Wunsch was scathing of the suggestion that the ECB would have to turn to buying bonds in an emergency due to political market pressure. Recent events have not represented unwarranted and disorderly market moves before intervention, and this is supported by the ECB officials. ‘We need to avoid any appearance of predictability; we cannot afford to imply any kind of mechanistic restrictions on our behaviour,’ Wunsch said. ’The judgment call depends on whether market movements are erratic and excessive’.

ECB considers further rate cuts, but eyes inflation target

Ursula von der Leyen has secured the nomination for a second term as President of the European Commission&nbsp;despite objections from Italian Prime Minister Giorgia Meloni, who criticised the process.&nbsp;

Estonia’s Prime Minister, Kaja Kallas, is all set to become the EU’s top diplomat, representing the bloc on the world stage for the next five years.

Former Portuguese Prime Minister António Costa has been elected as the new President of the European Council. In this role, he will be responsible for facilitating compromises among the 27 heads of state and government.

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Poland’s prime minister, Donald Tusk, tweeted, “Kaja, Ursula and António accepted. Defence plans accepted. Satisfaction. For Poland and for Europe.”

The Commission president should confirm Kallas, as it is a formality. She will also come out before MEPs in the autumn, even though they cannot reject her as the EU’s high representative for foreign affairs.

In 2019, von der Leyen made history as the first woman to lead the EU executive in its 62 years. However, she narrowly secured the support of MEPs. Although the groups backing her have a theoretical majority of 55%, a significant number of MEPs could still vote against her in the secret ballot.

A former German government minister, von der Leyen is considered by EU leaders to have performed well in managing the EU’s reaction to a once-in-a-century pandemic and the biggest war on European soil since 1945.&nbsp;

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Her frontrunner status was solidified when her centre-right European People’s Party (EPP) won the most seats in the European Parliament elections earlier this month.

The hurdle was&nbsp;cleared after a deal between EU leaders representing the bloc’s largest pro-European groups, the EEP, the Socialists and the centrist Renew group.

Italy’s Prime Minister, Giorgia Meloni, has resentfully spoken against the agreement among the three pro-European groups.

Meloni repeated her criticism of the process that she complained was wrong in method and substance. Her government, she said continued “to work to finally give Italy the weight it deserves in Europe”.

Notably, Meloni is the president of the European Conservatives and Reformists group, the third largest in the parliament.&nbsp;

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Earlier, expressing&nbsp;support for Meloni,&nbsp;Tusk said he has great respect&nbsp;for Italy and its prime minister. “There are some emotions, but in reality, they may have resulted rather from misunderstandings,” he said.

“There is no Europe without Italy and there is no decision without Prime Minister Meloni," he added.

(With inputs from agencies)

Ursula von der Leyen has secured the nomination for a second term as President of the European Commission despite objections from Italian Prime Minister Giorgia Meloni, who criticised the process.

Ursula von der Leyen has secured the nomination for a second term as President of the European Commission despite objections from Italian Prime Minister Giorgia Meloni, who criticised the process. Estonia’s Prime Minister, Kaja Kallas, is all set to become the EU’s top diplomat, representing the bloc on the world stage for the next five years. Former Portuguese Prime Minister António Costa has been elected as the new President of the European Council. In this role, he will be responsible for facilitating compromises among the 27 heads of state and government. Also read: US Supreme Court allows emergency abortion access in Idaho for now Poland’s prime minister, Donald Tusk, tweeted, “Kaja, Ursula and António accepted. Defence plans accepted. Satisfaction. For Poland and for Europe.” The Commission president should confirm Kallas, as it is a formality. She will also come out before MEPs in the autumn, even though they cannot reject her as the EU’s high representative for foreign affairs. In 2019, von der Leyen made history as the first woman to lead the EU executive in its 62 years. However, she narrowly secured the support of MEPs. Although the groups backing her have a theoretical majority of 55%, a significant number of MEPs could still vote against her in the secret ballot. A former German government minister, von der Leyen is considered by EU leaders to have performed well in managing the EU’s reaction to a once-in-a-century pandemic and the biggest war on European soil since 1945. Also read: Ageing Biden struggles as Trump delivers damaging attacks: Top takeaways Her frontrunner status was solidified when her centre-right European People’s Party (EPP) won the most seats in the European Parliament elections earlier this month. The hurdle was cleared after a deal between EU leaders representing the bloc’s largest pro-European groups, the EEP, the Socialists and the centrist Renew group. Italy’s Prime Minister, Giorgia Meloni, has resentfully spoken against the agreement among the three pro-European groups. Meloni repeated her criticism of the process that she complained was wrong in method and substance. Her government, she said continued “to work to finally give Italy the weight it deserves in Europe”. Notably, Meloni is the president of the European Conservatives and Reformists group, the third largest in the parliament. Also read: Roof collapses at Terminal-1 of Delhi airport amid heavy rains, six injured Earlier, expressing support for Meloni, Tusk said he has great respect for Italy and its prime minister. “There are some emotions, but in reality, they may have resulted rather from misunderstandings,” he said. “There is no Europe without Italy and there is no decision without Prime Minister Meloni," he added. (With inputs from agencies)

EU leaders support Ursula von der Leyen for second term as president

The China-European Union trade war is moving beyond EV and Pork probes. In the latest, the European Commission is raising concerns over its chipmakers staring at substantial losses in China. This comes as China eyes supremacy in critical technologies and the semiconductor industry with investment hikes.

Major European chipmakers could face limitations, according to Bloomberg News. The companies are not that advanced; rather, they make microcontrollers and other chips essential for key sectors of the economy, including automobiles and consumer electronics.

A European report quoted by Bloomberg reveals that discriminatory standards and other non-tariff barriers could be used to bolster China's domestic market. Other measures involve investing heavily in components like analog and power semiconductors.

Bloomberg had earlier reported on the Chinese government instructing their domestic EV players to purchase components from local auto chipmakers. This aims to reduce reliance on Western imports and boost China's domestic semiconductor industry.

China is reportedly spending more than $100 billion to build new chip plants. The country has significantly hiked spending after US-imposed sanctions on Chinese company's ability to buy high-end chips. China, so far, has been able to access the US tech through backdoor channels.

Earlier Chinese President Xi Jinping urged Chinese industries to step up innovation amid confrontation with the US.

The China-European Union trade war is moving beyond EV and Pork probes. In the latest, the European Commission is raising concerns over its chipmakers staring at substantial losses in China.

The China-European Union trade war is moving beyond EV and Pork probes. In the latest, the European Commission is raising concerns over its chipmakers staring at substantial losses in China. This comes as China eyes supremacy in critical technologies and the semiconductor industry with investment hikes. Major European chipmakers could face limitations, according to Bloomberg News. The companies are not that advanced; rather, they make microcontrollers and other chips essential for key sectors of the economy, including automobiles and consumer electronics. A European report quoted by Bloomberg reveals that discriminatory standards and other non-tariff barriers could be used to bolster China's domestic market. Other measures involve investing heavily in components like analog and power semiconductors. Bloomberg had earlier reported on the Chinese government instructing their domestic EV players to purchase components from local auto chipmakers. This aims to reduce reliance on Western imports and boost China's domestic semiconductor industry. China is reportedly spending more than $100 billion to build new chip plants. The country has significantly hiked spending after US-imposed sanctions on Chinese company's ability to buy high-end chips. China, so far, has been able to access the US tech through backdoor channels. Earlier Chinese President Xi Jinping urged Chinese industries to step up innovation amid confrontation with the US.

European chipmakers fear losing market share in China

The European Union formally launches accession negotiations with Ukraine and Moldova on Tuesday, setting the fragile ex-Soviet states off on a long path towards membership that Russia has tried to block.

Ukraine begins EU membership talks; hopes to join bloc by 2030

EU kicks off formal accession negotiations with Ukraine; Zelensky hails the step as historic

The European Union on Monday (June 24) reached a political agreement on imposing further sanctions against Palestinian militant group Hamas and violent Israeli settlers.

"It has been a political agreement on proceeding on the sanctions against Hamas and also violent Israeli settlers. This political agreement will be converted into concrete measures to be adopted soon by written procedure," the European Union's chief diplomat Josep Borrell said.

Ahead of a foreign ministers' meeting in Luxembourg, Borrell told reporters that the Middle East was close to witnessing the expansion of the ongoing conflict between Israel and Lebanon in the coming days.

His remarks came just days after the Iran-backed Hezbollah militant group threatened Cyprus.

"The risk of this war affecting the south of Lebanon and spilling over is every day bigger," Borrell said. "We are on the eve of the war expanding."

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<h2>Israeli offensive into Lebanon risks Iranian response, says US military</h2>

United States top military official on Sunday (June 23) warned that any sort of military offensive by Israel against Lebanon could lead to a response from Iran in defence of the Hezbollah group which would pose challenges for Washington to strengthen Tel Aviv's air defence.

Air Force Gen. Charles Q. Brown, chairman of the United States Joint Chiefs of Staff stated that Iran would be more inclined to support Hezbollah than the Palestinian militant group Hamas especially if they felt that "Hezbollah was being significantly threatened".

Israeli Prime Minister Benjamin Netanyahu said that his forces would be deployed along the northern border with Lebanon, where the fighting with the Iran-backed Hezbollah group has intensified, once the intense phase of the ongoing war in Gaza comes to an end.

Netanyahu further stated that Israel would return its displaced citizens to their evacuated northern border communities amid fears of a full-scale war in Lebanon.

"After the intense phase is finished, we will have the possibility to move part of the forces north. And we will do this. First and foremost for defensive purposes. And secondly, to bring our (evacuated) residents home," the Israeli PM stated in an interview with Israel's Channel 14.

He then said that he would try to fix this 'diplomatically' but would solve it 'in another way' if needed.

"If we can we will do this diplomatically. If not, we will do it another way. But we will bring (the residents) home," he said.&nbsp;

(With inputs from agencies)

The European Union on Monday (June 24) reached a political agreement on imposing further sanctions against Palestinian militant group Hamas and violent Israeli settlers.

The European Union on Monday (June 24) reached a political agreement on imposing further sanctions against Palestinian militant group Hamas and violent Israeli settlers. "It has been a political agreement on proceeding on the sanctions against Hamas and also violent Israeli settlers. This political agreement will be converted into concrete measures to be adopted soon by written procedure," the European Union's chief diplomat Josep Borrell said. Ahead of a foreign ministers' meeting in Luxembourg, Borrell told reporters that the Middle East was close to witnessing the expansion of the ongoing conflict between Israel and Lebanon in the coming days. His remarks came just days after the Iran-backed Hezbollah militant group threatened Cyprus. "The risk of this war affecting the south of Lebanon and spilling over is every day bigger," Borrell said. "We are on the eve of the war expanding." Also read: Israel bombs Hamas after Netanyahu says 'intense' phase of war winding down Israeli offensive into Lebanon risks Iranian response, says US military United States top military official on Sunday (June 23) warned that any sort of military offensive by Israel against Lebanon could lead to a response from Iran in defence of the Hezbollah group which would pose challenges for Washington to strengthen Tel Aviv's air defence. Air Force Gen. Charles Q. Brown, chairman of the United States Joint Chiefs of Staff stated that Iran would be more inclined to support Hezbollah than the Palestinian militant group Hamas especially if they felt that "Hezbollah was being significantly threatened". Israeli Prime Minister Benjamin Netanyahu said that his forces would be deployed along the northern border with Lebanon, where the fighting with the Iran-backed Hezbollah group has intensified, once the intense phase of the ongoing war in Gaza comes to an end. Netanyahu further stated that Israel would return its displaced citizens to their evacuated northern border communities amid fears of a full-scale war in Lebanon. "After the intense phase is finished, we will have the possibility to move part of the forces north. And we will do this. First and foremost for defensive purposes. And secondly, to bring our (evacuated) residents home," the Israeli PM stated in an interview with Israel's Channel 14. He then said that he would try to fix this 'diplomatically' but would solve it 'in another way' if needed. "If we can we will do this diplomatically. If not, we will do it another way. But we will bring (the residents) home," he said. (With inputs from agencies)

EU reaches political agreement on further sanctions against Hamas, West Bank settlers

Apple is once again under fire from European regulators. The EU has accused the tech giant of violating the digital markets act, claiming Apple's app store policies unfairly restrict app developers. This could lead to significant fines for the company. Take a look at this next report…

EU opens another probe into Apple's third-party app contract

The European Union will open membership talks with Ukraine on Tuesday, giving the country a political boost in the midst of its war against Russia's invasion. Watch in for more details!

Ukraine set for symbolic start of EU membership talks

With the European Union formally initiating Ukraine's accession talks, soldiers and lawmakers alike reflect on the country's decade long journey to officially become a part of the block. Watch in for more details!

Ukraine set for start of EU membership talks

Ukraine's decade-long struggle to cement its European identity, EU to begin accession talks

Ukraine set to launch EU membership talks

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods. His comments came during his address at a World Economic Forum meeting in Dalian.

'China's production of advanced electric vehicles, lithium-ion batteries and photovoltaic products, first met out domestic demand, but also enrich global supply', he said in his opening remarks. 'The rapid rise of China's new industries is rooted in our own unique comparative advantages', he added.

China and the European Union are preparing to host talks on the planned EV tariffs on Chinese EVs. China is already facing tariff hikes from the US, with Canada also contemplating similar tariffs. China is facing a slowdown in domestic demand, making it paramount for the second-largest economy to expand its exports. This has triggered trade impositions by major economies, with the US &amp; the EU at the forefront.

China is currently using various tactics to avert EU tariffs. The country is already contemplating a probe into EU pork imports. China is also talking to other stakeholders, including German car manufacturers, to persuade the EU to reverse its decision. 'The continuous emergence of economies of scale can effectively dilute enterprises' innovation costs, which is the real source of the strong competitiveness of China's new industries', Li said.

China denies overcapacity problems, stating that demand will soon equal supply as the economy recovers. The country is also maintaining its growth target of 5 per cent for 2024. Still, recovery seems subdued due to domestic slump and trade tensions with major markets.

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods.

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods. His comments came during his address at a World Economic Forum meeting in Dalian. 'China's production of advanced electric vehicles, lithium-ion batteries and photovoltaic products, first met out domestic demand, but also enrich global supply', he said in his opening remarks. 'The rapid rise of China's new industries is rooted in our own unique comparative advantages', he added. China and the European Union are preparing to host talks on the planned EV tariffs on Chinese EVs. China is already facing tariff hikes from the US, with Canada also contemplating similar tariffs. China is facing a slowdown in domestic demand, making it paramount for the second-largest economy to expand its exports. This has triggered trade impositions by major economies, with the US & the EU at the forefront. China is currently using various tactics to avert EU tariffs. The country is already contemplating a probe into EU pork imports. China is also talking to other stakeholders, including German car manufacturers, to persuade the EU to reverse its decision. 'The continuous emergence of economies of scale can effectively dilute enterprises' innovation costs, which is the real source of the strong competitiveness of China's new industries', Li said. China denies overcapacity problems, stating that demand will soon equal supply as the economy recovers. The country is also maintaining its growth target of 5 per cent for 2024. Still, recovery seems subdued due to domestic slump and trade tensions with major markets.

Chinese Premier counters 'overcapacity' claims, says we 'enrich global supply'

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