Alphabet’s Google has warned European regulators that landmark European Union rules designed to curb Big Tech are having unintended consequences for users and businesses, arguing they are stifling innovation and making online services worse for Europeans. According to Reuters, Google is set to deliver a strong message at a workshop hosted by the European Commission in Brussels on Tuesday, urging officials to provide clearer guidance on how to comply with the EU’s Digital Markets Act (DMA). The company is also challenging its critics to present concrete evidence of the costs and benefits of the sweeping new rules.&nbsp;The Digital Markets Act aims to rein in the power of major technology companies accused of abusing their dominance by favouring their own services. Google is under scrutiny for allegedly prioritising Google Shopping, Google Hotels and Google Flights over rival platforms in search results.EU regulators have already charged Google under the DMA, which allows for fines of up to 10 per cent of its global annual revenue if found guilty of breaching the rules.<h2>Concerns over travel costs and online experience</h2>In a prepared speech seen by Reuters, Google’s lawyer Clare Kelly plans to argue that the reforms imposed on the company after discussions with the European Commission and industry critics have actually made things worse for European consumers.&nbsp;“We remain genuinely concerned about real world consequences of the DMA, which are leading to worse online products and experiences for Europeans,” Kelly is expected to say, as per Reuters.&nbsp;&nbsp;She will claim changes made by Google so far have driven up the cost of travel tickets by making it harder for users to access airline sites directly. European airlines, hotels and restaurants have reportedly suffered up to a 30 per cent drop in direct booking traffic, while customers have complained about cumbersome workarounds and more confusing search results, according to Reuters.&nbsp;<h2>Google asks for clear compliance rules</h2>Google has also proposed further changes to its search results to better highlight rival products, but critics maintain these steps fall short of ensuring a level playing field.&nbsp;Oliver Bethell, another Google lawyer, will use the workshop to call on regulators to spell out precisely what compliance should look like in practice. “If we can understand precisely what compliance looks like, not just in theory, but taking account of on the ground experience, we can launch compliant services quickly and confidently across the EEA,” Bethell will say, as quoted by Reuters. He will add that critics need to present “real evidence of costs and benefits” that the company and the Commission can properly evaluate.&nbsp;The day-long European Commission workshop, which begins at 0700 GMT, has been convened specifically to allow Google’s rivals and critics to raise questions and seek clarifications on the company’s compliance plans. The European Commission has repeatedly insisted that the DMA is crucial to opening up digital markets, boosting competition, and protecting consumers. But the pushback from Google underscores the growing tension between Big Tech and European regulators as they grapple with the practical implications of the EU’s toughest ever rules on dominant digital platforms.&nbsp;(With inputs from the agencies)

Google urges EU regulators to clarify Digital Markets Act rules, claiming reforms have worsened user experience and hurt businesses. Tensions rise over Big Tech regulation in Europe.

Alphabet’s Google has warned European regulators that landmark European Union rules designed to curb Big Tech are having unintended consequences for users and businesses, arguing they are stifling innovation and making online services worse for Europeans. According to Reuters, Google is set to deliver a strong message at a workshop hosted by the European Commission in Brussels on Tuesday, urging officials to provide clearer guidance on how to comply with the EU’s Digital Markets Act (DMA). The company is also challenging its critics to present concrete evidence of the costs and benefits of the sweeping new rules. The Digital Markets Act aims to rein in the power of major technology companies accused of abusing their dominance by favouring their own services. Google is under scrutiny for allegedly prioritising Google Shopping, Google Hotels and Google Flights over rival platforms in search results. EU regulators have already charged Google under the DMA, which allows for fines of up to 10 per cent of its global annual revenue if found guilty of breaching the rules. Concerns over travel costs and online experience In a prepared speech seen by Reuters, Google’s lawyer Clare Kelly plans to argue that the reforms imposed on the company after discussions with the European Commission and industry critics have actually made things worse for European consumers. “We remain genuinely concerned about real world consequences of the DMA, which are leading to worse online products and experiences for Europeans,” Kelly is expected to say, as per Reuters. She will claim changes made by Google so far have driven up the cost of travel tickets by making it harder for users to access airline sites directly. European airlines, hotels and restaurants have reportedly suffered up to a 30 per cent drop in direct booking traffic, while customers have complained about cumbersome workarounds and more confusing search results, according to Reuters. Google asks for clear compliance rules Google has also proposed further changes to its search results to better highlight rival products, but critics maintain these steps fall short of ensuring a level playing field. Oliver Bethell, another Google lawyer, will use the workshop to call on regulators to spell out precisely what compliance should look like in practice. “If we can understand precisely what compliance looks like, not just in theory, but taking account of on the ground experience, we can launch compliant services quickly and confidently across the EEA,” Bethell will say, as quoted by Reuters. He will add that critics need to present “real evidence of costs and benefits” that the company and the Commission can properly evaluate. The day-long European Commission workshop, which begins at 0700 GMT, has been convened specifically to allow Google’s rivals and critics to raise questions and seek clarifications on the company’s compliance plans. The European Commission has repeatedly insisted that the DMA is crucial to opening up digital markets, boosting competition, and protecting consumers. But the pushback from Google underscores the growing tension between Big Tech and European regulators as they grapple with the practical implications of the EU’s toughest ever rules on dominant digital platforms. (With inputs from the agencies)

Google warns EU that Digital Markets Act is harming users and businesses, calling for clearer compliance rules and evidence of real-world benefits.

Google says EU digital rules stifle innovation, demands clarity

Meta is under fresh pressure from European regulators. The European Commission has warned the company it could face daily fines if its advertising model doesn’t meet tough new EU rules.&nbsp;The warning came on Friday, just two months after the Commission fined Meta 200 million euros ($234 million) for breaking the EU’s Digital Markets Act, or DMA. As per Reuters, the rules aim to stop Big Tech from abusing its power and to protect smaller rivals.<h2>How Meta’s 'pay-or-consent' model works</h2>Meta launched its “pay-or-consent” model in November 2023. It gives Facebook and Instagram users two options:<ul><li>Use the service for free but agree to be tracked for targeted ads.</li><li>Or pay for an ad-free experience.</li></ul>According to Reuters, the European Commission said this setup broke the DMA’s rules until November 2024, even after Meta changed it to use less personal data for advertising. A spokesperson for the Commission said it’s not clear if Meta’s latest changes are good enough. “The Commission cannot confirm at this stage if these are sufficient,” the spokesperson told Reuters.<h2>EU fine warning&nbsp;</h2>The European Commission also warned Meta that if it doesn’t comply, it could face daily fines starting 27 June 2025. As per Reuters, these fines could reach up to 5 per cent of Meta’s average daily worldwide turnover for each day it stays in violation.&nbsp;That’s a major threat for one of the world’s biggest and most profitable tech companies.<h2>'Unfair': Meta responds to EU&nbsp;</h2>Meta strongly pushed back against the warning. “A user choice between a subscription for no ads or a free ad-supported service remains a legitimate business model for every company in Europe—except Meta,” a Meta spokesperson told Reuters.&nbsp;Meta insists it is doing even more than what EU rules demand. “We are confident that the range of choices we offer people in the EU doesn’t just comply with what the EU’s rules require—it goes well beyond them,” the spokesperson told Reuters.<h2>EU rejects Meta’s complaint</h2>But the European Commission dismissed Meta’s accusations of unfair treatment. According to Reuters, officials said the DMA applies equally to all large digital companies, no matter where they’re based or who owns them.&nbsp;“We have always enforced and will continue to enforce our laws fairly and without discrimination towards all companies operating in the EU,” the spokesperson said.<h2>A key test for Big Tech rules</h2>This battle highlights how serious the EU is about reining in Big Tech. The DMA, which took effect in March, forces large platforms to follow strict rules designed to stop them from crushing smaller competitors.&nbsp;Meta’s pay-or-consent model is one of the first big tests of these new rules. As per Reuters, the outcome will help define how tech giants will have to operate in Europe in the coming years.&nbsp;(With inputs from the agencies)&nbsp;

Following a €200 million fine for breaching the Digital Markets Act, the Commission stated Meta pay-or-consent model may still violate rules until November 2024. 

Meta is under fresh pressure from European regulators. The European Commission has warned the company it could face daily fines if its advertising model doesn’t meet tough new EU rules. The warning came on Friday, just two months after the Commission fined Meta 200 million euros ($234 million) for breaking the EU’s Digital Markets Act, or DMA. As per Reuters, the rules aim to stop Big Tech from abusing its power and to protect smaller rivals. How Meta’s 'pay-or-consent' model works Meta launched its “pay-or-consent” model in November 2023. It gives Facebook and Instagram users two options: Use the service for free but agree to be tracked for targeted ads. Or pay for an ad-free experience. According to Reuters, the European Commission said this setup broke the DMA’s rules until November 2024, even after Meta changed it to use less personal data for advertising. A spokesperson for the Commission said it’s not clear if Meta’s latest changes are good enough. “The Commission cannot confirm at this stage if these are sufficient,” the spokesperson told Reuters. EU fine warning The European Commission also warned Meta that if it doesn’t comply, it could face daily fines starting 27 June 2025. As per Reuters, these fines could reach up to 5 per cent of Meta’s average daily worldwide turnover for each day it stays in violation. That’s a major threat for one of the world’s biggest and most profitable tech companies. 'Unfair': Meta responds to EU Meta strongly pushed back against the warning. “A user choice between a subscription for no ads or a free ad-supported service remains a legitimate business model for every company in Europe—except Meta,” a Meta spokesperson told Reuters. Meta insists it is doing even more than what EU rules demand. “We are confident that the range of choices we offer people in the EU doesn’t just comply with what the EU’s rules require—it goes well beyond them,” the spokesperson told Reuters. EU rejects Meta’s complaint But the European Commission dismissed Meta’s accusations of unfair treatment. According to Reuters, officials said the DMA applies equally to all large digital companies, no matter where they’re based or who owns them. “We have always enforced and will continue to enforce our laws fairly and without discrimination towards all companies operating in the EU,” the spokesperson said. A key test for Big Tech rules This battle highlights how serious the EU is about reining in Big Tech. The DMA, which took effect in March, forces large platforms to follow strict rules designed to stop them from crushing smaller competitors. Meta’s pay-or-consent model is one of the first big tests of these new rules. As per Reuters, the outcome will help define how tech giants will have to operate in Europe in the coming years. (With inputs from the agencies)

Meta faces new pressure from European regulators as the European Commission warns of potential daily fines if its advertising model fails to comply with EU regulations.

Meta faces threat of daily EU fines over pay-or-consent model: Details here

European Union leaders gathered in Brussels on Thursday to discuss fresh trade proposals from the United States, with just two weeks left before a tariff truce expires and the spectre of 50 per cent US import duties returns to threaten transatlantic commerce.&nbsp;As per Reuters, European Commission President Ursula von der Leyen presented the “outline” of the new US offer to heads of state and government at the summit, though officials did not reveal specific details. One EU diplomat described the proposal as a “two-pager, principle agreement” and said Washington was keen to avoid negotiating sector-by-sector commitments, as quoted by Reuters.&nbsp; “We only have two weeks left – so we should go for something like that, like Brazil and Britain,” the diplomat added, alluding to simpler trade frameworks struck by other countries with the US. But divisions across the EU remain stark, with France pushing for a tougher line while Italy leans towards compromise.<h2>Internal EU divisions complicate talks</h2>The split within Europe’s largest economies has become increasingly visible. German Chancellor Friedrich Merz earlier this week urged the bloc to move quickly and prioritise a “faster” and “simpler” trade deal with Washington. In contrast, French officials argued that Brussels should hold out for stronger terms, particularly on opening up US services markets, as per Reuters. The stakes are high. President Donald Trump has threatened to raise tariffs on EU goods to 50 per cent if a new agreement cannot be reached before the July 9 deadline, reigniting fears of a transatlantic trade war at a time when European economies are already battling high inflation and sluggish growth.&nbsp;According to Reuters, the European Commission is trying to find common ground among the 27 member states but achieving a unified position before the deadline remains a significant diplomatic challenge.<h2>Tariffs overshadow broader summit agenda</h2>The Brussels summit had originally been intended to cover a wider range of pressing issues, from Europe’s security posture to its fraught relationship with Russia but trade tensions with Washington quickly dominated proceedings.&nbsp;The meeting followed a tense NATO summit earlier in the week, where alliance members agreed to raise defence spending significantly. However, that commitment exposed rifts within Europe, with some states privately admitting they cannot afford the new targets. Spain has reportedly demanded an explicit opt-out, highlighting the strains on national budgets amid competing priorities.<h2>Ukraine pressures Europe for stronger stance</h2>Meanwhile, the war in Ukraine cast a long shadow over the summit’s agenda. Ukrainian President Volodymyr Zelenskiy addressed EU leaders directly, calling for a fresh round of sanctions on Russia that would target its oil exports and banking sector. He also demanded a clear, unequivocal message of support for Ukraine’s future EU membership.&nbsp;“What’s needed now is a clear political message – that Ukraine is firmly on the European path, and that Europe stands by its promises,” Zelenskiy told the gathering, as quoted by Reuters. “Any delay by Europe at this point could create a global precedent – a reason to doubt Europe’s words and commitments.” Yet even on this front, divisions persist. Hungary remains firmly opposed to offering Ukraine a clear accession path or adopting new sanctions on Russian energy trade.<h2>Uncertain path ahead</h2>As the Brussels talks adjourned without a final decision on the US trade proposal, time is rapidly running out for Europe to strike a deal that would avert punishing new tariffs. European officials say they will continue negotiations in the coming days, but the challenge of reconciling internal divisions while bargaining with the Trump administration’s hardline stance remains daunting.&nbsp;With transatlantic relations at risk of fresh trade turmoil, and Ukraine’s war effort demanding ever more support, EU leaders face a difficult balancing act as they seek to project unity and resolve on the global stage.&nbsp;(With inputs from the agencies)&nbsp;

European Commission President Ursula von der Leyen presented a basic outline of the US offer, which seeks a more straightforward agreement rather than detailed sector by sector negotiations. 

European Union leaders gathered in Brussels on Thursday to discuss fresh trade proposals from the United States, with just two weeks left before a tariff truce expires and the spectre of 50 per cent US import duties returns to threaten transatlantic commerce. As per Reuters, European Commission President Ursula von der Leyen presented the “outline” of the new US offer to heads of state and government at the summit, though officials did not reveal specific details. One EU diplomat described the proposal as a “two-pager, principle agreement” and said Washington was keen to avoid negotiating sector-by-sector commitments, as quoted by Reuters. “We only have two weeks left – so we should go for something like that, like Brazil and Britain,” the diplomat added, alluding to simpler trade frameworks struck by other countries with the US. But divisions across the EU remain stark, with France pushing for a tougher line while Italy leans towards compromise. Internal EU divisions complicate talks The split within Europe’s largest economies has become increasingly visible. German Chancellor Friedrich Merz earlier this week urged the bloc to move quickly and prioritise a “faster” and “simpler” trade deal with Washington. In contrast, French officials argued that Brussels should hold out for stronger terms, particularly on opening up US services markets, as per Reuters. The stakes are high. President Donald Trump has threatened to raise tariffs on EU goods to 50 per cent if a new agreement cannot be reached before the July 9 deadline, reigniting fears of a transatlantic trade war at a time when European economies are already battling high inflation and sluggish growth. According to Reuters, the European Commission is trying to find common ground among the 27 member states but achieving a unified position before the deadline remains a significant diplomatic challenge. Tariffs overshadow broader summit agenda The Brussels summit had originally been intended to cover a wider range of pressing issues, from Europe’s security posture to its fraught relationship with Russia but trade tensions with Washington quickly dominated proceedings. The meeting followed a tense NATO summit earlier in the week, where alliance members agreed to raise defence spending significantly. However, that commitment exposed rifts within Europe, with some states privately admitting they cannot afford the new targets. Spain has reportedly demanded an explicit opt-out, highlighting the strains on national budgets amid competing priorities. Ukraine pressures Europe for stronger stance Meanwhile, the war in Ukraine cast a long shadow over the summit’s agenda. Ukrainian President Volodymyr Zelenskiy addressed EU leaders directly, calling for a fresh round of sanctions on Russia that would target its oil exports and banking sector. He also demanded a clear, unequivocal message of support for Ukraine’s future EU membership. “What’s needed now is a clear political message – that Ukraine is firmly on the European path, and that Europe stands by its promises,” Zelenskiy told the gathering, as quoted by Reuters. “Any delay by Europe at this point could create a global precedent – a reason to doubt Europe’s words and commitments.” Yet even on this front, divisions persist. Hungary remains firmly opposed to offering Ukraine a clear accession path or adopting new sanctions on Russian energy trade. Uncertain path ahead As the Brussels talks adjourned without a final decision on the US trade proposal, time is rapidly running out for Europe to strike a deal that would avert punishing new tariffs. European officials say they will continue negotiations in the coming days, but the challenge of reconciling internal divisions while bargaining with the Trump administration’s hardline stance remains daunting. With transatlantic relations at risk of fresh trade turmoil, and Ukraine’s war effort demanding ever more support, EU leaders face a difficult balancing act as they seek to project unity and resolve on the global stage. (With inputs from the agencies)

EU leaders met in Brussels to discuss US trade proposals as a tariff truce approaches its end, risking 50% US import duties.

EU leaders weigh US trade offer as tariff deadline looms

The United States and the European Union are close to finalising a deal that addresses a raft of long-standing non-tariff trade frictions, including climate regulations, digital market rules, and supply chain concerns.&nbsp;&nbsp;However, key tariff-related issues, including those threatened or imposed under President Donald Trump remain unresolved ahead of a critical July deadline.&nbsp;&nbsp;The developments were first reported by Bloomberg, citing a draft agreement circulated by the Office of the US Trade Representative (USTR).<h2>What’s in the draft deal?</h2>According to Bloomberg, the draft “agreement on reciprocal trade” outlines tentative compromises on multiple regulatory fronts. The EU has agreed to delay enforcement of its new deforestation regulation for one year, giving global companies more time to comply.&nbsp;&nbsp;The policy requires importers to prove their products are not linked to deforestation, a regulation that has faced resistance from US exporters and European businesses alike. The delay had already been internally decided by the EU last year but now forms part of the broader trade dialogue.&nbsp;The draft also includes provisions to pause enforcement of the EU’s Digital Markets Act (DMA) on major American tech platforms while structured negotiations are ongoing. The DMA, one of the EU’s flagship digital competition laws, has already resulted in hefty fines for US firms such as Apple and Meta.&nbsp;&nbsp;The exemption would ease transatlantic tensions over what Washington has called discriminatory enforcement.&nbsp;Another key clause in the draft agreement offers US products a one-year exemption from the EU’s Carbon Border Adjustment Mechanism (CBAM), a climate tariff designed to reflect the carbon intensity of imports. This exemption would give US exporters temporary relief from one of Europe’s most contentious climate policies.&nbsp;The agreement further proposes exemptions for US energy exports from upcoming EU methane rules and suggests that both parties coordinate their policies on shipbuilding and maritime shipping. Specifically, the EU would consider adopting measures similar to US penalties targeting non-market economies, particularly China.&nbsp;&nbsp;The draft text also encourages joint efforts on defence procurement and critical minerals, highlighting a shared commitment to reduce dependency on Chinese supply chains. As reported by Bloomberg, the overall aim is to streamline transatlantic coordination on strategic industries.<h2>Tariff tensions still unresolved</h2>Despite progress on regulatory matters, the draft agreement reportedly omits any resolution of US–EU tariff disputes.&nbsp;&nbsp;As per Bloomberg, it does not mention the 20 per cent reciprocal tariff that President Trump threatened and temporarily paused in April nor does it address ongoing duties on EU steel, aluminium, and automotive exports.&nbsp;&nbsp;Likewise, the agreement does not include a response to the EU’s planned retaliatory tariffs, scheduled to take effect on 14 July if no deal is reached.&nbsp;While negotiations continue, it remains unclear whether tariff issues are being handled in a parallel track or have stalled.&nbsp;&nbsp;According to Bloomberg, US Trade Representative Jamieson Greer earlier described the EU’s initial proposal which included offers to buy more US goods like liquefied natural gas as a “credible starting point.” However, the most recent draft agreement appears focused solely on non-tariff barriers.&nbsp;European officials have told Bloomberg that any deal perceived as offering one-sided concessions to the US would face public and political resistance.&nbsp;&nbsp;Some have also signalled that maintaining Trump’s baseline 10 per cent tariffs could be a red line, though expectations are growing that these tariffs may not be removed under any circumstances, given Trump’s public defence of tariff revenue as a national economic tool.<h2>Why it matters?</h2>The agreement, if finalised, would mark a significant step toward easing transatlantic trade tensions in non-tariff areas that have burdened US exporters, especially in technology and energy.&nbsp;&nbsp;It also reflects growing alignment on environmental and industrial policy in response to Chinese trade practices.&nbsp;However, the absence of a tariff breakthrough underscores the deep political and economic divide that still defines US–EU trade relations.&nbsp;&nbsp;As quoted by Bloomberg, an EU spokesperson confirmed that both sides remain “fully and deeply engaged in negotiations,” but stopped short of confirming agreement on the full text.&nbsp;&nbsp;With President Trump’s 9 July tariff deadline approaching and the EU’s retaliatory measures due shortly after, the clock is ticking for a comprehensive settlement that addresses both regulatory and tariff concerns.&nbsp;&nbsp;(With inputs from the agencies) &nbsp;

US–EU trade pact nears finalisation with compromises on climate rules, digital markets, and supply chains. But major tariff disputes, including Trump threatened duties, remain unresolved as July deadlines loom.

The United States and the European Union are close to finalising a deal that addresses a raft of long-standing non-tariff trade frictions, including climate regulations, digital market rules, and supply chain concerns. However, key tariff-related issues, including those threatened or imposed under President Donald Trump remain unresolved ahead of a critical July deadline. The developments were first reported by Bloomberg, citing a draft agreement circulated by the Office of the US Trade Representative (USTR). What’s in the draft deal? According to Bloomberg, the draft “agreement on reciprocal trade” outlines tentative compromises on multiple regulatory fronts. The EU has agreed to delay enforcement of its new deforestation regulation for one year, giving global companies more time to comply. The policy requires importers to prove their products are not linked to deforestation, a regulation that has faced resistance from US exporters and European businesses alike. The delay had already been internally decided by the EU last year but now forms part of the broader trade dialogue. The draft also includes provisions to pause enforcement of the EU’s Digital Markets Act (DMA) on major American tech platforms while structured negotiations are ongoing. The DMA, one of the EU’s flagship digital competition laws, has already resulted in hefty fines for US firms such as Apple and Meta. The exemption would ease transatlantic tensions over what Washington has called discriminatory enforcement. Another key clause in the draft agreement offers US products a one-year exemption from the EU’s Carbon Border Adjustment Mechanism (CBAM), a climate tariff designed to reflect the carbon intensity of imports. This exemption would give US exporters temporary relief from one of Europe’s most contentious climate policies. The agreement further proposes exemptions for US energy exports from upcoming EU methane rules and suggests that both parties coordinate their policies on shipbuilding and maritime shipping. Specifically, the EU would consider adopting measures similar to US penalties targeting non-market economies, particularly China. The draft text also encourages joint efforts on defence procurement and critical minerals, highlighting a shared commitment to reduce dependency on Chinese supply chains. As reported by Bloomberg, the overall aim is to streamline transatlantic coordination on strategic industries. Tariff tensions still unresolved Despite progress on regulatory matters, the draft agreement reportedly omits any resolution of US–EU tariff disputes. As per Bloomberg, it does not mention the 20 per cent reciprocal tariff that President Trump threatened and temporarily paused in April nor does it address ongoing duties on EU steel, aluminium, and automotive exports. Likewise, the agreement does not include a response to the EU’s planned retaliatory tariffs, scheduled to take effect on 14 July if no deal is reached. While negotiations continue, it remains unclear whether tariff issues are being handled in a parallel track or have stalled. According to Bloomberg, US Trade Representative Jamieson Greer earlier described the EU’s initial proposal which included offers to buy more US goods like liquefied natural gas as a “credible starting point.” However, the most recent draft agreement appears focused solely on non-tariff barriers. European officials have told Bloomberg that any deal perceived as offering one-sided concessions to the US would face public and political resistance. Some have also signalled that maintaining Trump’s baseline 10 per cent tariffs could be a red line, though expectations are growing that these tariffs may not be removed under any circumstances, given Trump’s public defence of tariff revenue as a national economic tool. Why it matters? The agreement, if finalised, would mark a significant step toward easing transatlantic trade tensions in non-tariff areas that have burdened US exporters, especially in technology and energy. It also reflects growing alignment on environmental and industrial policy in response to Chinese trade practices. However, the absence of a tariff breakthrough underscores the deep political and economic divide that still defines US–EU trade relations. As quoted by Bloomberg, an EU spokesperson confirmed that both sides remain “fully and deeply engaged in negotiations,” but stopped short of confirming agreement on the full text. With President Trump’s 9 July tariff deadline approaching and the EU’s retaliatory measures due shortly after, the clock is ticking for a comprehensive settlement that addresses both regulatory and tariff concerns. (With inputs from the agencies)

The US and EU are nearing a trade deal easing key regulatory frictions, but tariff disputes—especially Trump-era duties—remain unresolved ahead of July deadlines, Bloomberg reports.

US–EU near trade deal, but tariff rift remains: Details here

Europe has taken a decisive step to counter China’s trade barriers but this time in the medical sector.&nbsp;The European Union will bar Chinese companies from bidding for lucrative public tenders in the EU’s medical device sector, valued at over €60 billion (approx. $68.9 billion) annually, as quoted by Reuters.&nbsp;The measure, announced on Friday, marks the first enforcement of the EU’s International Procurement Instrument (IPI), a 2022 regulation designed to ensure fair and reciprocal market access for European firms abroad, particularly in China.&nbsp;According to the European Commission, the move comes in response to clear evidence that China’s procurement system heavily favours domestic companies, leaving EU exporters at a disadvantage.<h2>What are the new restrictions?</h2>As per the Commission’s announcement, Chinese suppliers will be excluded from EU public tenders worth over €5 million (approx. $5.74 million) unless there are no viable alternatives.&nbsp;Additionally, any successful bid must contain no more than 50 per cent of medical devices originating from China.&nbsp;A Commission official, citing data from MedTech Europe, told Reuters that although only 4 per cent of tenders exceed €5 million, they represent roughly 60 per cent of the total value in the EU’s €150 billion (approx. $172.2 billion) medical technology market. Public procurement accounts for about 70 per cent of this market, the official added.<h2>What’s driving the EU’s decision?</h2>Brussels says it has documented systemic barriers for EU firms seeking access to Chinese healthcare contracts. Officials accuse Beijing of setting conditions that lead to abnormally low bids, which European companies operating under standard commercial rules cannot match.&nbsp;Despite repeated dialogue, China has not offered any corrective measures, the Commission said, though it noted that an agreement is still possible.The restrictions will apply to high-value medical products such as imaging devices, prosthetics, surgical instruments, and protective clothing.&nbsp;The move comes at a time of mounting EU-China economic friction. Just this month, Brussels imposed tariffs on Chinese electric vehicles, citing unfair subsidies. In response, China has launched investigations into EU brandy imports and continues to restrict exports of rare earths, key to the EU’s tech and green ambitions.&nbsp;The medical procurement ban is expected to raise the temperature further ahead of the EU–China summit scheduled for July, where trade disputes will dominate the agenda.&nbsp;China’s commerce ministry has described the EU’s procurement ban as “protectionist”, urging Brussels to adopt a “fair and transparent” approach and resolve differences through negotiation.<h2>Strategic shift or beginning of a trade rift?</h2>The enforcement of the International Procurement Instrument signals a strategic shift in Europe’s trade stance, especially toward China. While Brussels has historically pursued engagement, it is now increasingly resorting to legal and economic tools to defend its industrial competitiveness.&nbsp;Analysts believe this could mark the beginning of a broader EU–China economic decoupling, particularly in strategic sectors like healthcare, renewable energy, and digital infrastructure.&nbsp;For now, European hospitals and healthcare authorities will need to reassess procurement strategies, and Chinese medical giants may start to feel the impact on their bottom&nbsp;line.&nbsp;(With inputs from the agencies)&nbsp;

This marks the first application of the International Procurement Instrument (IPI), aiming for fair market access for European firms. 

Europe has taken a decisive step to counter China’s trade barriers but this time in the medical sector. The European Union will bar Chinese companies from bidding for lucrative public tenders in the EU’s medical device sector, valued at over €60 billion (approx. $68.9 billion) annually, as quoted by Reuters. The measure, announced on Friday, marks the first enforcement of the EU’s International Procurement Instrument (IPI), a 2022 regulation designed to ensure fair and reciprocal market access for European firms abroad, particularly in China. According to the European Commission, the move comes in response to clear evidence that China’s procurement system heavily favours domestic companies, leaving EU exporters at a disadvantage. What are the new restrictions? As per the Commission’s announcement, Chinese suppliers will be excluded from EU public tenders worth over €5 million (approx. $5.74 million) unless there are no viable alternatives. Additionally, any successful bid must contain no more than 50 per cent of medical devices originating from China. A Commission official, citing data from MedTech Europe, told Reuters that although only 4 per cent of tenders exceed €5 million, they represent roughly 60 per cent of the total value in the EU’s €150 billion (approx. $172.2 billion) medical technology market. Public procurement accounts for about 70 per cent of this market, the official added. What’s driving the EU’s decision? Brussels says it has documented systemic barriers for EU firms seeking access to Chinese healthcare contracts. Officials accuse Beijing of setting conditions that lead to abnormally low bids, which European companies operating under standard commercial rules cannot match. Despite repeated dialogue, China has not offered any corrective measures, the Commission said, though it noted that an agreement is still possible. The restrictions will apply to high-value medical products such as imaging devices, prosthetics, surgical instruments, and protective clothing. The move comes at a time of mounting EU-China economic friction. Just this month, Brussels imposed tariffs on Chinese electric vehicles, citing unfair subsidies. In response, China has launched investigations into EU brandy imports and continues to restrict exports of rare earths, key to the EU’s tech and green ambitions. The medical procurement ban is expected to raise the temperature further ahead of the EU–China summit scheduled for July, where trade disputes will dominate the agenda. China’s commerce ministry has described the EU’s procurement ban as “protectionist”, urging Brussels to adopt a “fair and transparent” approach and resolve differences through negotiation. Strategic shift or beginning of a trade rift? The enforcement of the International Procurement Instrument signals a strategic shift in Europe’s trade stance, especially toward China. While Brussels has historically pursued engagement, it is now increasingly resorting to legal and economic tools to defend its industrial competitiveness. Analysts believe this could mark the beginning of a broader EU–China economic decoupling, particularly in strategic sectors like healthcare, renewable energy, and digital infrastructure. For now, European hospitals and healthcare authorities will need to reassess procurement strategies, and Chinese medical giants may start to feel the impact on their bottom line. (With inputs from the agencies)

The European Union will prohibit Chinese companies from participating in public tenders in the EU’s medical device sector, worth over €60 billion annually.

EU blocks Chinese firms from €60 billion medical device tenders: Details here

The European Central Bank (ECB) has cut its key interest rates by 25 basis points, marking a pivotal moment in its monetary policy cycle and offering relief to businesses and households amid persistent geopolitical uncertainty.&nbsp;The widely anticipated decision, announced on June 5, brings the ECB’s deposit facility rate down to 2 per cent, the main refinancing operations rate to 2.15 per cent, and the marginal lending facility to 2.40 per cent, effective June 11, 2025.European markets reacted positively. The pan-European Stoxx 600 index rose 0.9 per cent, while bond yields across the eurozone fell, reflecting investor confidence in looser monetary conditions.&nbsp;The euro gained 0.6 per cent against the dollar after ECB President Christine Lagarde’s remarks suggested the central bank may be nearing the end of its rate-cutting cycle.<h2>Markets react positively to rate cut</h2>Bond markets rallied following the ECB’s announcement. Yields on benchmark 10-year government bonds fell across major eurozone economies. German yields dropped 4 basis points, while France, Spain, and Italy saw yields decline by 3 to 5 basis points. As bond yields move inversely to prices, the drop indicated growing demand from investors anticipating a dovish rate environment.Stock markets were also buoyant. Germany’s DAX rose 0.2 per cent, the UK’s FTSE 100 edged up 0.1 per cent, and the Stoxx Europe 600 closed higher by 0.9 per cent. France’s CAC 40 was the lone major index to close slightly down, falling 0.2 per cent.ECB cites cooling Inflation, stronger euroIn its policy statement, the ECB said the decision to lower rates was driven by updated inflation projections and improved monetary policy transmission.&nbsp;Headline inflation has cooled to 1.9 per cent in May, slightly below the ECB’s 2 per cent medium-term target, prompting the revision.Revised projections show inflation averaging 2.0 per cent in 2025, down from 2.3 per cent forecast in March, with a further decline to 1.6 per cent in 2026.&nbsp;The central bank attributed the downgrades to lower energy prices and a stronger euro. Core inflation (excluding food and energy) is expected to remain elevated at 2.4 per cent in 2025, but fall to 1.9 per cent by 2027.“We are in a good place,” Lagarde told reporters, though she emphasised the path ahead remains data-dependent and shrouded in uncertainty. One Governing Council member opposed the cut, underlining internal divisions as policymakers weigh global risks.<h2>Trade tensions cloud growth outlook</h2>The ECB also left its GDP growth forecast for 2025 unchanged at 0.9 per cent, acknowledging a robust first quarter but warning of weaker prospects ahead due to trade disruptions.&nbsp;Tensions with the US have escalated following President Donald Trump’s tariffs on European goods, starting at 20 per cent and potentially rising to 50 per cent. Although both sides have agreed to pause retaliatory measures until July 14 to allow negotiations, concerns remain.A further escalation could drag both growth and inflation below baseline projections, the ECB warned. However, a benign resolution could offer modest upside.“Uncertainty surrounding trade policies is expected to weigh on business investment and exports, especially in the short term,” the bank noted in a statement. Yet rising public spending—particularly on defence and infrastructure—and strong labour markets are seen as buffers against global shocks.<h2>Rate path ahead</h2>Despite delivering its eighth rate cut since mid-2023, the ECB signalled a cautious stance going forward. Lagarde made clear that the central bank is not pre-committing to a specific rate trajectory, reinforcing a “meeting-by-meeting” approach based on evolving data. However, the president did indicate that ECB is “nearing the end” of its rate-cutting cycle.Analysts remain divided on future moves. While some argue that the ECB should pause to assess the impact of the cuts so far, others believe there is room for further easing if inflation continues to fall and growth weakens.Lagarde also dismissed speculation about her departure from the ECB to join the World Economic Forum, affirming, “I am determined to complete my term. Period.”

The widely anticipated decision, announced on June 5, brings the ECB’s deposit facility rate down to 2 per cent, the main refinancing operations rate to 2.15 per cent, and the marginal lending facility to 2.40 per cent, effective June 11, 2025.

The European Central Bank (ECB) has cut its key interest rates by 25 basis points, marking a pivotal moment in its monetary policy cycle and offering relief to businesses and households amid persistent geopolitical uncertainty. The widely anticipated decision, announced on June 5, brings the ECB’s deposit facility rate down to 2 per cent, the main refinancing operations rate to 2.15 per cent, and the marginal lending facility to 2.40 per cent, effective June 11, 2025. European markets reacted positively. The pan-European Stoxx 600 index rose 0.9 per cent, while bond yields across the eurozone fell, reflecting investor confidence in looser monetary conditions. The euro gained 0.6 per cent against the dollar after ECB President Christine Lagarde’s remarks suggested the central bank may be nearing the end of its rate-cutting cycle. Markets react positively to rate cut Bond markets rallied following the ECB’s announcement. Yields on benchmark 10-year government bonds fell across major eurozone economies. German yields dropped 4 basis points, while France, Spain, and Italy saw yields decline by 3 to 5 basis points. As bond yields move inversely to prices, the drop indicated growing demand from investors anticipating a dovish rate environment. Stock markets were also buoyant. Germany’s DAX rose 0.2 per cent, the UK’s FTSE 100 edged up 0.1 per cent, and the Stoxx Europe 600 closed higher by 0.9 per cent. France’s CAC 40 was the lone major index to close slightly down, falling 0.2 per cent. ECB cites cooling Inflation, stronger euro In its policy statement, the ECB said the decision to lower rates was driven by updated inflation projections and improved monetary policy transmission. Headline inflation has cooled to 1.9 per cent in May, slightly below the ECB’s 2 per cent medium-term target, prompting the revision. Revised projections show inflation averaging 2.0 per cent in 2025, down from 2.3 per cent forecast in March, with a further decline to 1.6 per cent in 2026. The central bank attributed the downgrades to lower energy prices and a stronger euro. Core inflation (excluding food and energy) is expected to remain elevated at 2.4 per cent in 2025, but fall to 1.9 per cent by 2027. “We are in a good place,” Lagarde told reporters, though she emphasised the path ahead remains data-dependent and shrouded in uncertainty. One Governing Council member opposed the cut, underlining internal divisions as policymakers weigh global risks. Trade tensions cloud growth outlook The ECB also left its GDP growth forecast for 2025 unchanged at 0.9 per cent, acknowledging a robust first quarter but warning of weaker prospects ahead due to trade disruptions. Tensions with the US have escalated following President Donald Trump’s tariffs on European goods, starting at 20 per cent and potentially rising to 50 per cent. Although both sides have agreed to pause retaliatory measures until July 14 to allow negotiations, concerns remain. A further escalation could drag both growth and inflation below baseline projections, the ECB warned. However, a benign resolution could offer modest upside. “Uncertainty surrounding trade policies is expected to weigh on business investment and exports, especially in the short term,” the bank noted in a statement. Yet rising public spending—particularly on defence and infrastructure—and strong labour markets are seen as buffers against global shocks. Rate path ahead Despite delivering its eighth rate cut since mid-2023, the ECB signalled a cautious stance going forward. Lagarde made clear that the central bank is not pre-committing to a specific rate trajectory, reinforcing a “meeting-by-meeting” approach based on evolving data. However, the president did indicate that ECB is “nearing the end” of its rate-cutting cycle. Analysts remain divided on future moves. While some argue that the ECB should pause to assess the impact of the cuts so far, others believe there is room for further easing if inflation continues to fall and growth weakens. Lagarde also dismissed speculation about her departure from the ECB to join the World Economic Forum, affirming, “I am determined to complete my term. Period.”

The widely anticipated decision, announced on June 5, brings the ECB’s deposit facility rate down to 2 per cent, the main refinancing operations rate to 2.15 per cent, and the marginal lending facility to 2.40 per cent, effective June 11, 2025.

ECB cuts rates by 25 basis points as inflation cools, trade tensions loom

Chinese fast-fashion powerhouse Shein is under intensifying global scrutiny, with European consumer watchdogs accusing it of manipulating online shoppers through unethical design tactics, while new tariff policies in the US threaten its cost-driven model.&nbsp;&nbsp;The pan-European Consumer Organization BEUC has now formally lodged a complaint with EU authorities, alleging that Shein uses “dark patterns” to pressure users into overspending. a move that may further destabilise the retail giant, already hit by regulatory and trade headwinds.<h2>BEUC files formal complaint over ‘manipulative’ sales tactics</h2>In a 29-page dossier submitted to the European Commission, BEUC,&nbsp;which represents consumer organisations in 21 countries,&nbsp;has detailed what it calls a widespread use of “dark patterns” on Shein’s platform. These include fake countdown timers, low-stock alerts, forced sign-ups, and “confirm shaming,” a practice that induces guilt in consumers who opt not to buy a product.&nbsp;According to BEUC, these tactics constitute “unfair commercial practice” that misleads consumers into overconsumption and undermines environmental sustainability. In its statement quoted by Reuters, BEUC urged regulators to force Shein to provide data behind its claims, such as “only 2 left in stock” or ongoing flash sales. If the company cannot provide such evidence, the watchdog says Shein must immediately stop these marketing ploys across the EU.&nbsp;“Shein’s practices are driving consumers to fill their wardrobes with clothes they barely use — often made with harmful chemicals — thereby worsening the social and environmental costs of fast fashion,” BEUC said in its complaint.&nbsp;Shein responded by criticising the consumer group’s unwillingness to engage in dialogue, calling it “extremely disappointing” given the brand’s popularity across Europe.<h2>Past EU crackdown on Shein&nbsp;</h2>This is not Shein’s first clash with European authorities. On 27 May, the European Commission and national regulators from Belgium, France, Ireland, and the Netherlands issued a stern warning to the company, citing breaches of EU law related to fake discounts, pressure selling, and deceptive product labels.&nbsp;As per Reuters, the investigation found that Shein routinely inflated original prices to exaggerate the value of discounts. It also accused the company of falsely advertising products as sustainable without verified environmental credentials — misleading shoppers trying to make conscious choices.Shein was also found to be obstructing customer support access and providing unclear information about return and refund processes, in violation of core EU consumer rights.&nbsp;&nbsp;The Commission has given Shein until 26 June to respond and propose corrective actions. Failing this, it could face fines proportionate to its annual turnover within the EU.<h2>Digital dominance under threat</h2>Shein’s sprawling presence in the EU, with nearly 100 million monthly users, according to figures cited by Business Insider,&nbsp;places it firmly in the crosshairs of European regulators. The company is also under watch under the EU’s new Digital Services Act (DSA), which imposes strict compliance measures on very large online platforms.&nbsp;Adding to its challenges, the EU is preparing a €2 handling fee per parcel on low-value e-commerce shipments — a move widely seen as targeting high-volume, low-margin sellers like Shein, as per Reuters.<h2>Trump-era tariffs and new US rules deepen the crisis</h2>Regulatory woes aren’t confined to Europe. In April, Shein announced price hikes, blaming changes in global trade regulations and tariffs. The move came shortly after US President Donald Trump reimposed stiff tariffs on low-cost imports and closed the so-called de minimis loophole,&nbsp;which had allowed goods valued under $800 to enter the US duty-free.&nbsp;As reported by Business Insider, this change directly affects Shein’s business model, which thrives on shipping low-cost individual parcels from China directly to US consumers.&nbsp;&nbsp;The policy reversal is expected to dent Shein’s profit margins, increase shipping costs, and slow down order fulfilment,&nbsp;making it harder to maintain the ultra-fast, ultra-cheap appeal that built its global empire.<h2>What lies ahead?</h2>With the EU deadline of 26 June fast approaching and heightened trade scrutiny in the US, Shein is under pressure to prove that it can adapt. EU authorities have made it clear: unless the company offers meaningful reforms, enforcement actions will follow,&nbsp;including steep financial penalties.&nbsp;According to Reuters, national regulators have the mandate to take legal steps if Shein's response fails to satisfy consumer law requirements.&nbsp;As Shein walks a regulatory tightrope across continents, its future may depend on more than just trendy clothing and flash sales. Its ability to survive this growing storm will now hinge on transparency, reform, and cooperation with the very markets that powered its rise.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

This is not Shein first clash with European authorities. On 27 May, the European Commission issued a stern warning to the company, citing breaches of EU law related to fake discounts, pressure selling, and deceptive product labels.

Chinese fast-fashion powerhouse Shein is under intensifying global scrutiny, with European consumer watchdogs accusing it of manipulating online shoppers through unethical design tactics, while new tariff policies in the US threaten its cost-driven model. The pan-European Consumer Organization BEUC has now formally lodged a complaint with EU authorities, alleging that Shein uses “dark patterns” to pressure users into overspending. a move that may further destabilise the retail giant, already hit by regulatory and trade headwinds. BEUC files formal complaint over ‘manipulative’ sales tactics In a 29-page dossier submitted to the European Commission, BEUC, which represents consumer organisations in 21 countries, has detailed what it calls a widespread use of “dark patterns” on Shein’s platform. These include fake countdown timers, low-stock alerts, forced sign-ups, and “confirm shaming,” a practice that induces guilt in consumers who opt not to buy a product. According to BEUC, these tactics constitute “unfair commercial practice” that misleads consumers into overconsumption and undermines environmental sustainability. In its statement quoted by Reuters, BEUC urged regulators to force Shein to provide data behind its claims, such as “only 2 left in stock” or ongoing flash sales. If the company cannot provide such evidence, the watchdog says Shein must immediately stop these marketing ploys across the EU. “Shein’s practices are driving consumers to fill their wardrobes with clothes they barely use — often made with harmful chemicals — thereby worsening the social and environmental costs of fast fashion,” BEUC said in its complaint. Shein responded by criticising the consumer group’s unwillingness to engage in dialogue, calling it “extremely disappointing” given the brand’s popularity across Europe. Past EU crackdown on Shein This is not Shein’s first clash with European authorities. On 27 May, the European Commission and national regulators from Belgium, France, Ireland, and the Netherlands issued a stern warning to the company, citing breaches of EU law related to fake discounts, pressure selling, and deceptive product labels. As per Reuters, the investigation found that Shein routinely inflated original prices to exaggerate the value of discounts. It also accused the company of falsely advertising products as sustainable without verified environmental credentials — misleading shoppers trying to make conscious choices. Shein was also found to be obstructing customer support access and providing unclear information about return and refund processes, in violation of core EU consumer rights. The Commission has given Shein until 26 June to respond and propose corrective actions. Failing this, it could face fines proportionate to its annual turnover within the EU. Digital dominance under threat Shein’s sprawling presence in the EU, with nearly 100 million monthly users, according to figures cited by Business Insider, places it firmly in the crosshairs of European regulators. The company is also under watch under the EU’s new Digital Services Act (DSA), which imposes strict compliance measures on very large online platforms. Adding to its challenges, the EU is preparing a €2 handling fee per parcel on low-value e-commerce shipments — a move widely seen as targeting high-volume, low-margin sellers like Shein, as per Reuters. Trump-era tariffs and new US rules deepen the crisis Regulatory woes aren’t confined to Europe. In April, Shein announced price hikes, blaming changes in global trade regulations and tariffs. The move came shortly after US President Donald Trump reimposed stiff tariffs on low-cost imports and closed the so-called de minimis loophole, which had allowed goods valued under $800 to enter the US duty-free. As reported by Business Insider, this change directly affects Shein’s business model, which thrives on shipping low-cost individual parcels from China directly to US consumers. The policy reversal is expected to dent Shein’s profit margins, increase shipping costs, and slow down order fulfilment, making it harder to maintain the ultra-fast, ultra-cheap appeal that built its global empire. What lies ahead? With the EU deadline of 26 June fast approaching and heightened trade scrutiny in the US, Shein is under pressure to prove that it can adapt. EU authorities have made it clear: unless the company offers meaningful reforms, enforcement actions will follow, including steep financial penalties. According to Reuters, national regulators have the mandate to take legal steps if Shein's response fails to satisfy consumer law requirements. As Shein walks a regulatory tightrope across continents, its future may depend on more than just trendy clothing and flash sales. Its ability to survive this growing storm will now hinge on transparency, reform, and cooperation with the very markets that powered its rise. (With inputs from the agencies)

European consumer watchdogs have officially complained to EU authorities about Shein, the Chinese fast-fashion giant, allegedly using unethical design practices to manipulate online shoppers.&nbsp;

Shein under EU fire as consumer watchdog slams ‘dark pattern’ sales tactics

In a move that risks reigniting global trade tensions, Canada is preparing retaliatory measures in response to the United States doubling tariffs on steel and aluminium imports.&nbsp;&nbsp;Meanwhile, the European Union is attempting to make diplomatic headway with Washington, even as European industry reels from the fallout. The developments come as US President Donald Trump’s administration ramps up pressure on trade partners, asking for “best offers” to avoid broader tariff escalations in July.<h2>Canada hits back&nbsp;</h2>Canada, one of the United States’ top trading partners, is facing the brunt of Trump’s tariff hike. According to US Census Bureau data, Canada exports more aluminium to the US than the rest of the top 10 suppliers combined, making it particularly vulnerable to the new levies.&nbsp;The revised tariffs, which came into effect on June 4, raise duties on steel and aluminium imports from 25 per cent to 50 per cent.&nbsp;In a statement cited by Reuters, Canadian Prime Minister Mark Carney’s office said the country was “engaged in intensive and live negotiations to have these and other tariffs removed.” But the government is also preparing reciprocal measures should the talks fail to yield results.&nbsp;The impact of these tariffs is already being felt. Austrian steelmaker Voestalpine warned that the new duties could hit its earnings, while German steel lobby group WSM expressed concern that EU suppliers might be squeezed out of US markets altogether. “Nobody has the margins to absorb these bottomless tariffs,” WSM Managing Director Christian Vietmeyer told Reuters.<h2>EU optimistic but concerned over steel tariffs</h2>Despite rising tensions, the European Union remains cautiously optimistic about trade talks with the US. On Wednesday, EU trade commissioner Maros Sefcovic met with US Trade Representative Jamieson Greer in Paris and reported “concrete progress” in negotiations, as per Reuters.&nbsp;“We both concluded that we are advancing in the right direction, at pace,” Sefcovic told Reuters, adding that high-level talks will follow ongoing technical discussions in Washington. However, he also criticised the tariff hike, saying it does not contribute positively to the dialogue.&nbsp;Sefcovic said the EU and US share a common challenge of steel overcapacity and should be working together rather than implementing unilateral measures. European businesses have echoed this sentiment, calling on the EU to do everything in its power to resolve what they describe as a customs conflict.&nbsp;&nbsp;The EU has not yet received a formal letter from the US requesting specific proposals, unlike other trading partners.<h2>Trump doubles down on metal tariffs&nbsp;</h2>President Trump signed an executive proclamation on Wednesday, doubling existing tariffs on steel and aluminium imports from 25 per cent to 50 per cent. The new rate applies to nearly all trading partners except the United Kingdom, which has reached a preliminary trade deal with Washington during the ongoing 90-day pause on broader Trump tariffs.&nbsp;The White House expects countries to submit their “best offers” across various sectors, including quotas and tariff proposals for US exports, by early July to avoid further retaliatory measures.&nbsp;&nbsp;According to a Reuters report, Washington has promised to respond “within days” with details of possible exemptions or reductions if satisfactory offers are made.&nbsp;British Prime Minister Keir Starmer expressed confidence that tariffs on UK steel would be reduced to zero within a few weeks, suggesting that negotiations between London and Washington are progressing well.<h2>Industry fallout spreads</h2>The tariff shock is already rippling through global supply chains. French spirits group Rémy Cointreau reportedly abandoned its 2030 sales growth targets, citing US tariffs, slower American sales, and overall economic uncertainty as key factors.&nbsp;In the metals sector, aluminium price premiums have surged as markets brace for reduced supply and continued demand. With limited domestic production capacity, the US is likely to maintain current import volumes unless prices spike enough to suppress consumption.Meanwhile, Mexico’s Economy Minister Marcelo Ebrard criticised the new duties, calling them “unsustainable and unfair,” particularly since Mexico imports more steel from the US than it exports there.&nbsp;Beyond metals, trade friction with China is also complicating matters. Auto manufacturers in the US and Europe are facing potential production slowdowns due to China’s export restrictions on rare earth magnets and minerals, which are vital for electric vehicles and other components.&nbsp;As Reuters reported, both German and US firms are warning of supply chain disruptions due to the Chinese curbs, which many see as retaliation for Trump’s tariffs.<h2>What lies ahead</h2>With the July 8 deadline approaching for Trump’s “reciprocal” tariffs to take effect, the global trade landscape remains volatile. Canada’s pushback, EU’s cautious optimism, and industry-wide uncertainty underscore the stakes involved.&nbsp;&nbsp;As negotiations intensify, the world will be watching to see whether diplomacy can prevail or whether another full-scale trade war is on the horizon.&nbsp;

The revised tariffs, which came into effect on June 4, raise duties on steel and aluminium imports from 25% to 50%. 

In a move that risks reigniting global trade tensions, Canada is preparing retaliatory measures in response to the United States doubling tariffs on steel and aluminium imports. Meanwhile, the European Union is attempting to make diplomatic headway with Washington, even as European industry reels from the fallout. The developments come as US President Donald Trump’s administration ramps up pressure on trade partners, asking for “best offers” to avoid broader tariff escalations in July. Canada hits back Canada, one of the United States’ top trading partners, is facing the brunt of Trump’s tariff hike. According to US Census Bureau data, Canada exports more aluminium to the US than the rest of the top 10 suppliers combined, making it particularly vulnerable to the new levies. The revised tariffs, which came into effect on June 4, raise duties on steel and aluminium imports from 25 per cent to 50 per cent. In a statement cited by Reuters, Canadian Prime Minister Mark Carney’s office said the country was “engaged in intensive and live negotiations to have these and other tariffs removed.” But the government is also preparing reciprocal measures should the talks fail to yield results. The impact of these tariffs is already being felt. Austrian steelmaker Voestalpine warned that the new duties could hit its earnings, while German steel lobby group WSM expressed concern that EU suppliers might be squeezed out of US markets altogether. “Nobody has the margins to absorb these bottomless tariffs,” WSM Managing Director Christian Vietmeyer told Reuters. EU optimistic but concerned over steel tariffs Despite rising tensions, the European Union remains cautiously optimistic about trade talks with the US. On Wednesday, EU trade commissioner Maros Sefcovic met with US Trade Representative Jamieson Greer in Paris and reported “concrete progress” in negotiations, as per Reuters. “We both concluded that we are advancing in the right direction, at pace,” Sefcovic told Reuters, adding that high-level talks will follow ongoing technical discussions in Washington. However, he also criticised the tariff hike, saying it does not contribute positively to the dialogue. Sefcovic said the EU and US share a common challenge of steel overcapacity and should be working together rather than implementing unilateral measures. European businesses have echoed this sentiment, calling on the EU to do everything in its power to resolve what they describe as a customs conflict. The EU has not yet received a formal letter from the US requesting specific proposals, unlike other trading partners. Trump doubles down on metal tariffs President Trump signed an executive proclamation on Wednesday, doubling existing tariffs on steel and aluminium imports from 25 per cent to 50 per cent. The new rate applies to nearly all trading partners except the United Kingdom, which has reached a preliminary trade deal with Washington during the ongoing 90-day pause on broader Trump tariffs. The White House expects countries to submit their “best offers” across various sectors, including quotas and tariff proposals for US exports, by early July to avoid further retaliatory measures. According to a Reuters report, Washington has promised to respond “within days” with details of possible exemptions or reductions if satisfactory offers are made. British Prime Minister Keir Starmer expressed confidence that tariffs on UK steel would be reduced to zero within a few weeks, suggesting that negotiations between London and Washington are progressing well. Industry fallout spreads The tariff shock is already rippling through global supply chains. French spirits group Rémy Cointreau reportedly abandoned its 2030 sales growth targets, citing US tariffs, slower American sales, and overall economic uncertainty as key factors. In the metals sector, aluminium price premiums have surged as markets brace for reduced supply and continued demand. With limited domestic production capacity, the US is likely to maintain current import volumes unless prices spike enough to suppress consumption. Meanwhile, Mexico’s Economy Minister Marcelo Ebrard criticised the new duties, calling them “unsustainable and unfair,” particularly since Mexico imports more steel from the US than it exports there. Beyond metals, trade friction with China is also complicating matters. Auto manufacturers in the US and Europe are facing potential production slowdowns due to China’s export restrictions on rare earth magnets and minerals, which are vital for electric vehicles and other components. As Reuters reported, both German and US firms are warning of supply chain disruptions due to the Chinese curbs, which many see as retaliation for Trump’s tariffs. What lies ahead With the July 8 deadline approaching for Trump’s “reciprocal” tariffs to take effect, the global trade landscape remains volatile. Canada’s pushback, EU’s cautious optimism, and industry-wide uncertainty underscore the stakes involved. As negotiations intensify, the world will be watching to see whether diplomacy can prevail or whether another full-scale trade war is on the horizon.

Canada, one of the US' top trading partners, exports more aluminum to the US than the rest of the top 10 suppliers combined, making it particularly vulnerable to the new levies.&nbsp;

Canada threatens retaliation as Trump doubles metal tariffs; EU pushes for trade breakthrough

As transatlantic tensions rise, European Union Trade Commissioner Maros Sefcovic has offered a cautiously optimistic signal, saying that negotiations with the United States are “advancing in the right direction at pace.” With just over a month left until the proposed 50 per cent US tariffs on European goods take effect, his remarks have emerged as a rare note of progress in what has otherwise been a volatile phase in EU-US trade ties.Sefcovic met US Trade Representative Jamieson Greer on the margins of the OECD Ministerial Council Meeting in Paris.&nbsp;&nbsp;Taking to social media platform X (formerly Twitter), Sefcovic wrote, “Had a productive and constructive discussion with US Trade Representative Ambassador Greer… We’re advancing in the right direction at pace – and staying in close contact to maintain the momentum.”

<blockquote class="twitter-tweet">Had a productive and constructive discussion with <a href="https://twitter.com/USTradeRep?ref_src=twsrc%5Etfw">@USTradeRep</a> Ambassador Greer on the margins of the <a href="https://twitter.com/OECD?ref_src=twsrc%5Etfw">@OECD</a> Trade Ministerial. We&#39;re advancing in the right direction at pace - and staying in close contact to maintain the momentum. <a href="https://t.co/Epmb7kejFZ">pic.twitter.com/Epmb7kejFZ</a>&mdash; Maroš Šefčovič🇪🇺 (@MarosSefcovic) <a href="https://twitter.com/MarosSefcovic/status/1930191214655012894?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

His comment comes after a week of dramatic turns in US trade policy, marked by President Donald Trump’s renewed threats of higher tariffs and a last-minute decision to delay their implementation.<h2>Trump delays 50 per cent tariffs after von der Leyen call</h2>According to Reuters, the diplomatic tone between Brussels and Washington shifted significantly after a phone call between Trump and European Commission President Ursula von der Leyen on Sunday.&nbsp;Trump, who had earlier declared that the EU was “stalling” and that talks were “going nowhere,” agreed to extend the deadline for the proposed 50 per cent tariffs to 9 July.&nbsp;Announcing the decision on Truth Social, Trump said: “I agreed to the extension — July 9, 2025 — It was my privilege to do so.” He added that the EU had “called to quickly establish meeting dates,” calling it a “positive event.”&nbsp;As quoted by Bloomberg, Trump said he hoped the EU would “open up the European Nations for Trade with the United States of America,” a line echoing his earlier demands to China during separate tariff negotiations.&nbsp;The extension follows the end of a 90-day tariff pause announced in April, during which Trump’s administration had reduced duties on European imports from 20 per cent to 10 per cent.&nbsp;&nbsp;However, frustration over EU regulations and ongoing lawsuits targeting American tech companies led Trump to threaten a sharp escalation to 50 per cent beginning June.<h2>A framework for compromise?</h2>Behind the scenes, both sides are working to prevent a breakdown. As reported by Bloomberg, the European Commission has submitted a new trade framework to the US, focusing on tariff reductions, regulatory cooperation, and strategic sectors such as semiconductors, electric vehicles, civilian aircraft, and pharmaceuticals.&nbsp;According to sources familiar with the discussions, EU trade chief Maros Sefcovic will lead high-level political talks, while technical negotiators work simultaneously on tariff and non-tariff issues. The proposal also outlines joint initiatives to reinforce supply chain security and foster mutual investment.&nbsp;The EU’s offer last week reportedly included tariff rollbacks, simplified customs procedures, and aligned standards in select sectors. However, as noted by Bloomberg, the US rejected the proposal at the time, prompting Trump’s initial threat of a tariff hike. Officials on both sides now suggest that parts of that proposal are being revisited.&nbsp;Despite the progress, sticking points remain. Some EU member states have warned that any US demand undermining the bloc’s regulatory autonomy,&nbsp;particularly in areas like taxation and antitrust,&nbsp;would be a red line.<h2>Economic impact</h2>The urgency of the negotiations is underscored by the potential economic fallout. As per estimates cited by Bloomberg Economics, a 50 per cent tariff could affect approximately $321 billion in annual goods trade, shave 0.6 per cent off US GDP, and push up consumer prices by more than 0.3 per cent.&nbsp;Markets responded swiftly to the temporary easing of tensions. US equity index futures rose in early Asian trading following Trump’s extension announcement, and the US dollar showed signs of recovery after recent volatility.&nbsp;Still, many within the EU remain sceptical. According to Reuters, internal briefings suggest that Brussels is preparing contingency measures, including counter-tariffs on up to €95 billion worth of US products. These would target politically sensitive sectors such as soybeans, poultry, bourbon, and even Boeing aircraft.<h2>A deal – or a deeper divide?</h2>While talks are ongoing, a final agreement remains uncertain. According to EU diplomats quoted by Bloomberg, there’s still a lack of clarity on what Washington wants, and on who, within the Trump administration, is driving the negotiation line.&nbsp;President Trump, meanwhile, has maintained that he reserves the right to “set a deal” if no agreement is reached, a reference to his authority to impose unilateral trade measures under his “America First” doctrine.&nbsp;Whether this extension leads to a breakthrough or simply delays confrontation remains to be seen. But with just over a month left until the July 9 deadline, both Brussels and Washington are under mounting pressure to turn this fragile momentum into a concrete trade pact. &nbsp;

His comment comes after a week of dramatic turns in US trade policy, marked by President Donald Trump’s renewed threats of higher tariffs and a last-minute decision to delay their implementation.

As transatlantic tensions rise, European Union Trade Commissioner Maros Sefcovic has offered a cautiously optimistic signal, saying that negotiations with the United States are “advancing in the right direction at pace.” With just over a month left until the proposed 50 per cent US tariffs on European goods take effect, his remarks have emerged as a rare note of progress in what has otherwise been a volatile phase in EU-US trade ties. Sefcovic met US Trade Representative Jamieson Greer on the margins of the OECD Ministerial Council Meeting in Paris. Taking to social media platform X (formerly Twitter), Sefcovic wrote, “Had a productive and constructive discussion with US Trade Representative Ambassador Greer… We’re advancing in the right direction at pace – and staying in close contact to maintain the momentum.”

EU Trade Commissioner Maros Sefcovic expressed optimism about US negotiations, noting progress amidst rising tensions and impending tariffs, following a productive meeting with Ambassador Greer.

EU trade chief says US talks ‘advancing in the right direction’ amid looming 50% deadline

British and French officials are considering situations where Trump might abandon the role of the mediator in the ongoing Russia-Ukraine conflict. The “Coalition of the Willing” is developing plans to support Ukraine if the scenario arises.&nbsp;“Let’s get real and admit the US will never be on board”, said an unnamed western diplomat. According to the Russian news agency TASS, the European officials are considering deploying a peacekeeping force in Ukraine.&nbsp;The report claims that the mood at the meeting in the Dutch Capital was gloomy.&nbsp;They stressed that they need to put more economic pressure on Russia. “It was mostly about how to sustain the necessary support to Ukraine when we assume that the US would only continue providing some specific assets, such as intelligence", said a European official.&nbsp;The “Coalition of the Willing” is a meeting devised by Keir Starmer and Emmanuel Macron, which is shifting focus to maintaining a ceasefire if that has been pursued by the United States. The Daily Telegraph noted that Washington has repeatedly failed to bring Vladimir Putin to cease hostilities in Ukrainian territories and lashed out at him by calling him “crazy”. Trump had repeatedly praised Putin on several occasions, and the European Union have been critical of Trump's commitment to put Ukraine under any serious pressure.&nbsp;In case of any ceasefire being brokered, the European Union wants to focus on protecting the sovereignty of Ukraine independently of Washington.Britain’s national security adviser, Jonathan Powell, is expected to be present at the latest round of peace talks between Russia and Ukraine on Monday. Along with Keith Kellogg of the United States envoy, in Istanbul.Russia is expected to present the conditions for peace with Ukraine on Monday. Both the European and the US counterparts have ruled out scenarios of Ukraine joining NATO.&nbsp;&nbsp;

With growing concerns around Trump's potential withdrawal from peace efforts, European leaders plan independent support for Ukraine, including a possible peacekeeping force and increased pressure on Russia.

British and French officials are considering situations where Trump might abandon the role of the mediator in the ongoing Russia-Ukraine conflict. The “Coalition of the Willing” is developing plans to support Ukraine if the scenario arises. “Let’s get real and admit the US will never be on board”, said an unnamed western diplomat. According to the Russian news agency TASS, the European officials are considering deploying a peacekeeping force in Ukraine. The report claims that the mood at the meeting in the Dutch Capital was gloomy. They stressed that they need to put more economic pressure on Russia. “It was mostly about how to sustain the necessary support to Ukraine when we assume that the US would only continue providing some specific assets, such as intelligence", said a European official. The “Coalition of the Willing” is a meeting devised by Keir Starmer and Emmanuel Macron, which is shifting focus to maintaining a ceasefire if that has been pursued by the United States. The Daily Telegraph noted that Washington has repeatedly failed to bring Vladimir Putin to cease hostilities in Ukrainian territories and lashed out at him by calling him “crazy”. Trump had repeatedly praised Putin on several occasions, and the European Union have been critical of Trump's commitment to put Ukraine under any serious pressure. In case of any ceasefire being brokered, the European Union wants to focus on protecting the sovereignty of Ukraine independently of Washington. Britain’s national security adviser, Jonathan Powell, is expected to be present at the latest round of peace talks between Russia and Ukraine on Monday. Along with Keith Kellogg of the United States envoy, in Istanbul. Russia is expected to present the conditions for peace with Ukraine on Monday. Both the European and the US counterparts have ruled out scenarios of Ukraine joining NATO.

With growing concerns around Trump's potential withdrawal from peace efforts, European leaders plan independent support for Ukraine, including a possible peacekeeping force and increased pressure on Russia.

Europe prepares for Ukraine support without US as Trump may abandon mediator role

The European Union has issued a stark warning to Chinese fast-fashion giant Shein, threatening the company with hefty fines for allegedly deceiving consumers and violating EU consumer protection laws.&nbsp;The action follows a sweeping investigation led by the European Commission in coordination with national regulators in Belgium, France, Ireland, and the Netherlands, according to Reuters.&nbsp;Shein, which has become a household name across Europe by selling low-cost fashion online, has been accused of manipulating prices, misleading customers, and failing to meet refund obligations.&nbsp;The company has until 26 June to respond and propose remedies. If it fails to do so, it could face fines based on its annual turnover within EU member states, as per Reuters.<h2> What Shein is accused of doing</h2> The European Commission has accused fast-fashion giant Shein of engaging in a series of deceptive practices that violate EU consumer protection laws.&nbsp;According to Reuters, the Commission, in coordination with consumer rights watchdogs in Belgium, France, Ireland, and the Netherlands, found that Shein had consistently misled its customers through tactics that distort purchasing decisions and compromise transparency.&nbsp;At the core of the allegations is Shein’s pricing strategy. The company is reportedly accused of promoting fake discounts by artificially inflating the original prices of items to exaggerate the size of savings during sales.&nbsp;Additionally, Shein has been reportedly found to manufacture a sense of urgency by deploying misleading countdown timers and limited stock notices, designed to pressure consumers into making hasty purchases.&nbsp;The European Union also raised concerns about deceptive labelling, particularly regarding products marketed as sustainable. According to the investigation, many of these claims lack substantiated environmental standards, misleading customers who may be trying to make eco-conscious choices.&nbsp;Shein has also reportedly come under fire for concealing customer service contact details, effectively making it difficult for consumers to seek redress or file complaints.&nbsp;Equally problematic, the Commission said, is the company’s handling of return and refund policies. It accused Shein of providing incorrect and unclear information about return procedures and of delaying refunds, thereby undermining consumer trust and legal rights. &nbsp;In its official statement, the European Commission noted that these practices breach essential consumer rights related to transparency and fair dealing. “Shein now has one month to reply to the CPC Network’s findings and propose commitments on how they will address the identified consumer law issues,” the Commission said, as quoted by Reuters.&nbsp;It further added that if Shein fails to take meaningful corrective action, national authorities within the EU have the mandate to take enforcement steps, including the imposition of fines. These penalties could be calculated based on Shein’s annual turnover in the relevant EU Member States, according to Reuters. &nbsp;The regulatory pressure is part of a broader push by the EU to hold digital and cross-border platforms accountable for consumer welfare, especially as platforms like Shein continue to dominate the fast fashion market with massive user bases, according to Reuters.<h2>Shein’s dominant EU footprint</h2>Shein’s potential penalties come at a time when its digital footprint in Europe is vast. The company reports that nearly 100 million monthly users engage with its platform in the region, as per data shared on Shein’s official website and cited by Business Insider.&nbsp;This scale makes Shein a priority for EU regulators, who are increasingly scrutinising major online retailers for consumer and product safety compliance.&nbsp;Earlier this year, the European Commission also warned Shein and its rival Temu about the sale of unsafe and potentially dangerous products, according to Reuters.&nbsp;Shein is also in the crosshairs of the Digital Services Act (DSA), which mandates stricter obligations for very large online platforms operating in the EU. Additionally, the European Union has proposed a €2 handling fee per parcel on low-value e-commerce shipments, a policy widely seen as targeting high-volume sellers like Shein, Reuters reported.<h2>Trade troubles and slowing growth</h2>The EU probe comes on the heels of global trade headwinds that are already hurting Shein’s profitability. In April, the company increased product prices, citing “recent changes in global trade rules and tariffs”.&nbsp;As reported by Business Insider, the move followed US President Donald Trump’s closure of the de minimis loophole, which had allowed shipments under $800 to enter the United States duty-free.&nbsp;Shein’s sales growth has since slowed, and analysts say its low-margin, high-volume model is becoming more difficult to sustain amid tariff hikes and regulatory scrutiny from both the US and EU.<h2>What comes next?</h2>With a deadline of June 26 looming, Shein must now respond to the EU’s findings and present a credible plan to fix the problems. If the company’s reply is deemed unsatisfactory, enforcement proceedings will follow — potentially leading to multi-million euro fines depending on the company’s EU revenue.&nbsp;Shein has yet to issue an official statement in response. Its representatives have not responded to requests for comment, according to Reuters.&nbsp;As the EU flexes its regulatory muscle and the US tightens trade loopholes, Shein’s global dominance faces mounting legal and economic pressure. For a company built on speed and scale, the question is whether it can adapt or risk being slowed down by the very markets that fuelled its meteoric rise. &nbsp;

Business & Economy: According to reports, Shein has until 26 June to respond and propose remedies, or face fines based on annual turnover within EU member states.

The European Union has issued a stark warning to Chinese fast-fashion giant Shein, threatening the company with hefty fines for allegedly deceiving consumers and violating EU consumer protection laws. The action follows a sweeping investigation led by the European Commission in coordination with national regulators in Belgium, France, Ireland, and the Netherlands, according to Reuters. Shein, which has become a household name across Europe by selling low-cost fashion online, has been accused of manipulating prices, misleading customers, and failing to meet refund obligations. The company has until 26 June to respond and propose remedies. If it fails to do so, it could face fines based on its annual turnover within EU member states, as per Reuters. What Shein is accused of doing The European Commission has accused fast-fashion giant Shein of engaging in a series of deceptive practices that violate EU consumer protection laws. According to Reuters, the Commission, in coordination with consumer rights watchdogs in Belgium, France, Ireland, and the Netherlands, found that Shein had consistently misled its customers through tactics that distort purchasing decisions and compromise transparency. At the core of the allegations is Shein’s pricing strategy. The company is reportedly accused of promoting fake discounts by artificially inflating the original prices of items to exaggerate the size of savings during sales. Additionally, Shein has been reportedly found to manufacture a sense of urgency by deploying misleading countdown timers and limited stock notices, designed to pressure consumers into making hasty purchases. The European Union also raised concerns about deceptive labelling, particularly regarding products marketed as sustainable. According to the investigation, many of these claims lack substantiated environmental standards, misleading customers who may be trying to make eco-conscious choices. Shein has also reportedly come under fire for concealing customer service contact details, effectively making it difficult for consumers to seek redress or file complaints. Equally problematic, the Commission said, is the company’s handling of return and refund policies. It accused Shein of providing incorrect and unclear information about return procedures and of delaying refunds, thereby undermining consumer trust and legal rights. In its official statement, the European Commission noted that these practices breach essential consumer rights related to transparency and fair dealing. “Shein now has one month to reply to the CPC Network’s findings and propose commitments on how they will address the identified consumer law issues,” the Commission said, as quoted by Reuters. It further added that if Shein fails to take meaningful corrective action, national authorities within the EU have the mandate to take enforcement steps, including the imposition of fines. These penalties could be calculated based on Shein’s annual turnover in the relevant EU Member States, according to Reuters. The regulatory pressure is part of a broader push by the EU to hold digital and cross-border platforms accountable for consumer welfare, especially as platforms like Shein continue to dominate the fast fashion market with massive user bases, according to Reuters. Shein’s dominant EU footprint Shein’s potential penalties come at a time when its digital footprint in Europe is vast. The company reports that nearly 100 million monthly users engage with its platform in the region, as per data shared on Shein’s official website and cited by Business Insider. This scale makes Shein a priority for EU regulators, who are increasingly scrutinising major online retailers for consumer and product safety compliance. Earlier this year, the European Commission also warned Shein and its rival Temu about the sale of unsafe and potentially dangerous products, according to Reuters. Shein is also in the crosshairs of the Digital Services Act (DSA), which mandates stricter obligations for very large online platforms operating in the EU. Additionally, the European Union has proposed a €2 handling fee per parcel on low-value e-commerce shipments, a policy widely seen as targeting high-volume sellers like Shein, Reuters reported. Trade troubles and slowing growth The EU probe comes on the heels of global trade headwinds that are already hurting Shein’s profitability. In April, the company increased product prices, citing “recent changes in global trade rules and tariffs”. As reported by Business Insider, the move followed US President Donald Trump’s closure of the de minimis loophole, which had allowed shipments under $800 to enter the United States duty-free. Shein’s sales growth has since slowed, and analysts say its low-margin, high-volume model is becoming more difficult to sustain amid tariff hikes and regulatory scrutiny from both the US and EU. What comes next? With a deadline of June 26 looming, Shein must now respond to the EU’s findings and present a credible plan to fix the problems. If the company’s reply is deemed unsatisfactory, enforcement proceedings will follow — potentially leading to multi-million euro fines depending on the company’s EU revenue. Shein has yet to issue an official statement in response. Its representatives have not responded to requests for comment, according to Reuters. As the EU flexes its regulatory muscle and the US tightens trade loopholes, Shein’s global dominance faces mounting legal and economic pressure. For a company built on speed and scale, the question is whether it can adapt or risk being slowed down by the very markets that fuelled its meteoric rise.

The European Union has warned Chinese fast-fashion company Shein of potential fines for allegedly deceiving consumers and violating EU consumer protection laws.&nbsp;

Shein’s European empire at risk as Brussels issues stir warning over fake discounts and false claims

Shortly after calling for a 50 per cent tariff on the European Union, which will start from June 1, President Trump said there is no tariff.&nbsp;During an executive order signing, a Fox News reporter asked, “Mr President, you are a deal maker, deal breaker, what are you trying to achieve with a 50 per cent tariff on the EU?"President Trump replied, “Well, I think there is no tariff, what they will do, they will send their companies into the US and build their plants…if they built their plant here, then they have no tariff at all."When the reporter again asked if he is looking for a deal in nine days, Trump replied, “I am not looking for a deal, we have set the deal at 50 per cent."“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump wrote on Truth Social.&nbsp;Trump is not actually trying to make a deal. He is just threatening a massive tariff and hoping Europe caves so their companies come crawling to the US.&nbsp;The EU “has been very difficult to deal with,” Trump wrote of the 27-nation bloc. “Our discussions with them are going nowhere!”“It's time we play the game the way I know how to play the game,” said Trump.“EU-US trade is unmatched &amp; must be guided by mutual respect, not threats. We stand ready to defend our interests,” said the EU Trade Commissioner Maros Sefcovic.&nbsp;It will take numerous years for companies to move their facilities to the US and the cost will be massive. Corporations will just pass the cost on to the consumer. Critics argue that this economic intimidation and the sentiment that companies will cave under US pressure is just wishful thinking.&nbsp;

After announcing a 50% tariff on the EU starting June 1, Donald Trump claimed there is “no tariff” if companies relocate to the US. Critics call it economic intimidation, while the EU vows to defend its interests.

Shortly after calling for a 50 per cent tariff on the European Union, which will start from June 1, President Trump said there is no tariff. During an executive order signing, a Fox News reporter asked, “Mr President, you are a deal maker, deal breaker, what are you trying to achieve with a 50 per cent tariff on the EU?" President Trump replied, “Well, I think there is no tariff, what they will do, they will send their companies into the US and build their plants…if they built their plant here, then they have no tariff at all." When the reporter again asked if he is looking for a deal in nine days, Trump replied, “I am not looking for a deal, we have set the deal at 50 per cent." “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump wrote on Truth Social. Trump is not actually trying to make a deal. He is just threatening a massive tariff and hoping Europe caves so their companies come crawling to the US. The EU “has been very difficult to deal with,” Trump wrote of the 27-nation bloc. “Our discussions with them are going nowhere!” “It's time we play the game the way I know how to play the game,” said Trump. “EU-US trade is unmatched & must be guided by mutual respect, not threats. We stand ready to defend our interests,” said the EU Trade Commissioner Maros Sefcovic. It will take numerous years for companies to move their facilities to the US and the cost will be massive. Corporations will just pass the cost on to the consumer. Critics argue that this economic intimidation and the sentiment that companies will cave under US pressure is just wishful thinking.

After announcing a 50% tariff on the EU starting June 1, Donald Trump claimed there is “no tariff” if companies relocate to the US. Critics call it economic intimidation, while the EU vows to defend its interests.

There is no tariff- Except the 50% one that’s totally non-negotiable: Trump on EU tariff

US President Donald Trump on Friday (May 23) claimed that the European Union has been ‘very difficult’ to deal with in the trade talks and that the current US trade in goods deficit is “totally unacceptable” and announced 50 per cent tariffs on EU from June 1, 2025. Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with."Also read: <a href="https://www.wionews.com/world/trump-s-big-warning-to-apple-make-iphones-in-us-not-in-india-or-face-25-tariffs-1748001761590">Trump's BIG warning to Apple: Make iPhones in US, not in India or face 25% tariffs</a> Taking aim at the so-called 'Trade Barriers' put up by the European Union, he wrote, “Their powerful Trade Barriers, VAT taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!”&nbsp;

"Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States," Trump added.The EU Commission declined to comment on US President Donald Trump’s comments. The Commission said it would wait for a phone call between EU trade chief Maros Sefcovic and his US counterpart Jamieson Greer to take place at 15:00 GMT.Also read: <a href="https://www.wionews.com/world/russia-ukraine-war-prisoner-swap-news-today-donald-trump-ceasefire-truth-social-1747998350644">Trump hints at 'something big' between Russia and Ukraine, hails major prisoner swap - Does this mean ceasefire is close?</a><h2>European markets fall</h2>Minutes after the US president's announcement European stock markets slid down. Germany’s DAX fell by 1.9%, while Italy’s FTSE MIB has lost 2%.The Stoxx 600 Banks Index, which tracks bank shares in Europe, went down by 1.7%.In London, the FTSE 100 index of blue-chip shares dropped 1.1%, as the trade war rose again.

Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with."

US President Donald Trump on Friday (May 23) claimed that the European Union has been ‘very difficult’ to deal with in the trade talks and that the current US trade in goods deficit is “totally unacceptable” and announced 50 per cent tariffs on EU from June 1, 2025. Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with." Also read: Trump's BIG warning to Apple: Make iPhones in US, not in India or face 25% tariffs Taking aim at the so-called 'Trade Barriers' put up by the European Union, he wrote, “Their powerful Trade Barriers, VAT taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!”

Trump took to Truth Social and wrote, “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with.”

US–EU trade war? Trump slaps 50% tariffs on European Union, calls it ‘very difficult to deal with’

The European Union's special space envoy Marjolijn Van Deelen has lauded India's rise as a 'Space Power', pointing to the strides country has taken, including the landing on the south pole of the moon under Chandrayaan-3 mission. Speaking to WION's Sidhant Sibal, Envoy Marjolijn said, 'India has seen fantastic growth. Space launch capacity is significant ..provides basis for cooperation. Landing on moon was fabulous'.

She hoped for cooperating with India in keeping space demilitarized. She highlighted,'we are worried about space militarisation. Number of actors developing aggressive technology, being opaque technology...Good to be aware of threat perception'.

EU is working with UN for a framework on the issue. India emphasizes that outer space should be used for peaceful purposes, in line with the 1967 Outer Space Treaty (OST), to which it is a party.

EU's Space Envoy Deelen says India a space power, hopes for demilitarization cooperation

EU foreign ministers are meeting in Luxembourg on Monday (April 14), with Ukraine topping the agenda, following a deadly Russian strike on the city of Sumy that left at least 34 people dead and more than 100 injured.
The attack, which took place on Palm Sunday, has drawn strong condemnation from European leaders, many of whom see it as a direct response to recent peace efforts. Russia has so far dismissed the proposed ceasefire, and EU leaders say this only proves why Ukraine must be fully supported.
&ldquo;It reminds us why we must keep maximum pressure on Russia,&rdquo; said EU foreign affairs chief Kaja Kallas, warning against letting up as President Vladimir Putin continues to reject diplomatic overtures.
Also read: <a href="https://www.wionews.com/world/trump-says-russian-strike-on-ukrainian-city-of-sumy-that-killed-at-least-34-a-horrible-thing-8959164" rel="dofollow noopener" target="_blank">Trump says Russian strike on Ukrainian city of Sumy, that killed at least 34, 'a horrible thing'</a>
Poland&rsquo;s foreign minister Radosław Sikorski called the strike a &ldquo;heinous&rdquo; act, describing it as &ldquo;Russia&rsquo;s mocking answer&rdquo; to President Trump&rsquo;s attempts at brokering peace. &ldquo;I hope the US administration realises that the leader of Russia is mocking their goodwill,&rdquo; Sikorski added.
<h2>'The Russian version of a ceasefire'</h2>
The airstrike on Sumy has rattled Europe, coming at a time when talks of peace are still on the table. German Chancellor-in-waiting Friedrich Merz accused Moscow of &ldquo;serious war crimes&rdquo; and &ldquo;perfidy&rdquo; in how the attack was carried out.
Also read: <a href="https://www.wionews.com/world/china-demands-us-completely-cancel-trumps-reciprocal-tariffs-after-electronics-exemption-8957954" rel="dofollow noopener" target="_blank">'Correct your mistakes': China demands US &lsquo;completely cancel&rsquo; Trump&rsquo;s reciprocal tariffs after electronics exemption</a>
French President Emmanuel Macron said Russia&rsquo;s actions show a &ldquo;blatant disregard for human lives, international law, and the diplomatic efforts of President Trump.&rdquo; Polish Prime Minister Donald Tusk was even more scathing, saying the bombing was &ldquo;the Russian version of a ceasefire.&rdquo;
Despite widespread outrage in Europe, US President Donald Trump offered a much more subdued response.
Also read: <a href="https://www.wionews.com/world/us-teen-kills-parents-to-fund-trump-assassination-plot-and-bring-in-some-chaos-8957670" rel="dofollow noopener" target="_blank">'Getting rid of the president': US teen kills parents to fund Trump assassination plot and &lsquo;bring in some chaos&rsquo;</a>
<h2>Trump: 'This is not my war'</h2>
Speaking to reporters aboard Air Force One, Trump described the Sumy attack as &ldquo;terrible,&rdquo; but suggested it may have been unintentional. &ldquo;I was told they made a mistake,&rdquo; he said. &ldquo;But I think it&rsquo;s a horrible thing. I think the whole war&rsquo;s a horrible thing,&rdquo; he added.
Pressed to clarify if he believed the bombing was accidental, Trump said, &ldquo;They made a mistake, I believe it was, look, you gotta ask them.&rdquo; He then shifted blame, insisting, &ldquo;This is Biden&rsquo;s war. This is not my war.&rdquo;
Trump repeated his longstanding claim that the war would not have happened under his presidency. &ldquo;That war would have never taken place. But remember this: This is Biden&rsquo;s war,&rdquo; he said during a brief outburst that notably avoided mentioning either Putin or Russia by name.
<h2>Zelensky urges Trump to see the devastation</h2>
Ukrainian President Volodymyr Zelensky, in an interview with CBS, warned that &ldquo;Russian narratives are prevailing in the US,&rdquo; and appeared to criticise US Vice President JD Vance for seemingly defending Moscow during a recent clash in the Oval Office.
Zelensky also made a direct appeal to Trump, asking him to witness the destruction before making any further decisions on peace talks. &ldquo;Before any kind of decisions, any kind of forms of negotiations, come to see people, civilians, warriors, hospitals, churches, children destroyed or dead,&rdquo; he pleaded.
Watch: <a href="https://www.wionews.com/videos/zelensky-wants-trump-to-visit-ukraine-8959192">Zelensky wants Trump to visit Ukraine</a>
(With inputs from agencies)

World: Poland’s foreign minister Radosław Sikorski called the strike a “heinous” act, describing it as “Russia’s mocking answer” to President Trump’s attempts at brokering peace.

EU foreign ministers are meeting in Luxembourg on Monday (April 14), with Ukraine topping the agenda, following a deadly Russian strike on the city of Sumy that left at least 34 people dead and more than 100 injured. The attack, which took place on Palm Sunday, has drawn strong condemnation from European leaders, many of whom see it as a direct response to recent peace efforts. Russia has so far dismissed the proposed ceasefire, and EU leaders say this only proves why Ukraine must be fully supported. “It reminds us why we must keep maximum pressure on Russia,” said EU foreign affairs chief Kaja Kallas, warning against letting up as President Vladimir Putin continues to reject diplomatic overtures. Also read: Trump says Russian strike on Ukrainian city of Sumy, that killed at least 34, 'a horrible thing' Poland’s foreign minister Radosław Sikorski called the strike a “heinous” act, describing it as “Russia’s mocking answer” to President Trump’s attempts at brokering peace. “I hope the US administration realises that the leader of Russia is mocking their goodwill,” Sikorski added. 'The Russian version of a ceasefire' The airstrike on Sumy has rattled Europe, coming at a time when talks of peace are still on the table. German Chancellor-in-waiting Friedrich Merz accused Moscow of “serious war crimes” and “perfidy” in how the attack was carried out. Also read: 'Correct your mistakes': China demands US ‘completely cancel’ Trump’s reciprocal tariffs after electronics exemption French President Emmanuel Macron said Russia’s actions show a “blatant disregard for human lives, international law, and the diplomatic efforts of President Trump.” Polish Prime Minister Donald Tusk was even more scathing, saying the bombing was “the Russian version of a ceasefire.” Despite widespread outrage in Europe, US President Donald Trump offered a much more subdued response. Also read: 'Getting rid of the president': US teen kills parents to fund Trump assassination plot and ‘bring in some chaos’ Trump: 'This is not my war' Speaking to reporters aboard Air Force One, Trump described the Sumy attack as “terrible,” but suggested it may have been unintentional. “I was told they made a mistake,” he said. “But I think it’s a horrible thing. I think the whole war’s a horrible thing,” he added. Pressed to clarify if he believed the bombing was accidental, Trump said, “They made a mistake, I believe it was, look, you gotta ask them.” He then shifted blame, insisting, “This is Biden’s war. This is not my war.” Trump repeated his longstanding claim that the war would not have happened under his presidency. “That war would have never taken place. But remember this: This is Biden’s war,” he said during a brief outburst that notably avoided mentioning either Putin or Russia by name. Zelensky urges Trump to see the devastation Ukrainian President Volodymyr Zelensky, in an interview with CBS, warned that “Russian narratives are prevailing in the US,” and appeared to criticise US Vice President JD Vance for seemingly defending Moscow during a recent clash in the Oval Office. Zelensky also made a direct appeal to Trump, asking him to witness the destruction before making any further decisions on peace talks. “Before any kind of decisions, any kind of forms of negotiations, come to see people, civilians, warriors, hospitals, churches, children destroyed or dead,” he pleaded. Watch: Zelensky wants Trump to visit Ukraine (With inputs from agencies)

‘This is Biden’s war’: EU convenes emergency talks after Trump calls Russian strike on Ukraine a ‘mistake’

European Union authorities together with Chinese representatives agreed to study the implementation of minimum prices for electric vehicle imports from China as a new strategy to replace previous EU tariffs from the previous year. A European Commission spokesperson validated the approval on Thursday just as media reports emerged about starting talks.
Maros Sefcovic together with Wang Wentao as the Chinese Commerce Minister led a meeting on investigating possible minimum price requirements for EV imports from China within the previous day. According to the Chinese Commerce Ministry there would start immediate negotiations following their announcement.
Commissioner Sefcovic maintains that agreed minimum prices must be capable of enforcing tariffs as they exist in the current EU system. The EU implemented minimum price agreements for homogenous commodities in previous instances but automobile complexity makes these measures inapplicable. The Commission has indicated doubts about the effectiveness of using one minimum price to overcome injurious effects from subsidies.
Also Read | <a href="https://www.wionews.com/autonews/vw-quarterly-profits-plummet-on-us-tariffs-eu-carbon-rules-and-restructuring-costs-8947889">VW quarterly profits plummet on US tariffs, EU carbon rules, and restructuring costs</a>
During October 2021 the European Union raised its tariff levels for Chinese EV imports up to 45.3% with existing general car import tariffs set at 10%. Brussels and Beijing have started to explore lifting the existing tariffs by presenting minimum price guarantees for imported vehicles which are called price undertakings for imported cars. EU tariffs against Chinese auto manufacturers amounted to 17.0% of BYD products and 18.8% of Geely products together with 35.3 percent of SAIC products.
The discussions seek a solution for the enduring trade conflict that affects French cognac exporters alongside other French companies because of Chinese trade restrictions within the broader scope of escalating tensions between President Donald Trump and key European Union and Chinese markets.
The German auto industry association VDA has welcomed the talks between the EU and China, labeling the existing duties a "mistake" and advocating for a negotiated resolution. The VDA emphasized the need to reduce obstacles and distortions in international trade. German carmakers, who generated a significant portion of their sales in China last year, had opposed the tariffs due to concerns about a potential trade conflict with their second-most important trading partner after the U.S.

Autonews | The German auto industry association VDA has welcomed the talks between the EU and China, labeling the existing duties a "mistake".

European Union authorities together with Chinese representatives agreed to study the implementation of minimum prices for electric vehicle imports from China as a new strategy to replace previous EU tariffs from the previous year. A European Commission spokesperson validated the approval on Thursday just as media reports emerged about starting talks. Maros Sefcovic together with Wang Wentao as the Chinese Commerce Minister led a meeting on investigating possible minimum price requirements for EV imports from China within the previous day. According to the Chinese Commerce Ministry there would start immediate negotiations following their announcement. Commissioner Sefcovic maintains that agreed minimum prices must be capable of enforcing tariffs as they exist in the current EU system. The EU implemented minimum price agreements for homogenous commodities in previous instances but automobile complexity makes these measures inapplicable. The Commission has indicated doubts about the effectiveness of using one minimum price to overcome injurious effects from subsidies. Also Read | VW quarterly profits plummet on US tariffs, EU carbon rules, and restructuring costs During October 2021 the European Union raised its tariff levels for Chinese EV imports up to 45.3% with existing general car import tariffs set at 10%. Brussels and Beijing have started to explore lifting the existing tariffs by presenting minimum price guarantees for imported vehicles which are called price undertakings for imported cars. EU tariffs against Chinese auto manufacturers amounted to 17.0% of BYD products and 18.8% of Geely products together with 35.3 percent of SAIC products. The discussions seek a solution for the enduring trade conflict that affects French cognac exporters alongside other French companies because of Chinese trade restrictions within the broader scope of escalating tensions between President Donald Trump and key European Union and Chinese markets. The German auto industry association VDA has welcomed the talks between the EU and China, labeling the existing duties a "mistake" and advocating for a negotiated resolution. The VDA emphasized the need to reduce obstacles and distortions in international trade. German carmakers, who generated a significant portion of their sales in China last year, had opposed the tariffs due to concerns about a potential trade conflict with their second-most important trading partner after the U.S.

EU and China to explore minimum EV prices as tariff alternative

China and the European Union conducted discussions to strengthen their economic and trade collaboration because of recent American punitive trade measures according to a Thursday Chinese Commerce Ministry statement.
Tuesday saw Commerce Minister Wang Wentao from China join forces with Maros Sefcovic from the EU trade and economic security commission to substantiate bilateral cooperation approaches via video communication. The main priority addressed within this meeting included both the restart of negotiations for trade relief actions along with immediate talks about electric vehicle (EV) pricing commitments.
A dialogue occurred between the representatives just as U.S. President Donald Trump initiated his additional trade measures against Chinese exports. Donald Trump announced temporary tariff reductions worldwide yet upped the pressure on China through his threat to raise the tariffs on their economy up to 125%.
Also Read | <a href="https://www.wionews.com/world/china-shares-old-video-of-mao-zedong-amid-tariff-war-with-us-says-chinese-not-afraid-of-provocations-8947020">China shares old video of Mao Zedong amid tariff war with US, says "Chinese not afraid of provocations"</a>
During their meeting Commissioner Sefcovic received a message from China's Minister of Commerce Wang about their commitment to deepen trade and investment as well as industrial partnership with the EU. The official demanded both trading blocs to maintain the rules-based approach to international trading while embracing trade liberalization and facilitation standards since this approach would bring stability to the global economy and worldwide commerce.
The discussion between China and the EU covered enterprise-friendly market conditions while resolving transfer problems in trade operations. The participating parties maintained their commitment to maintain communication through the World Trade Organization while pushing for required reforms to the organization.
Before these changes the EU implemented extra import tariffs reaching up to 35.3% on Chinese electric vehicle imports when conducting an anti-subsidy review on top of their usual 10% car import levies. Last week, the Chinese commerce ministry indicated that both sides had agreed to restart negotiations on minimum price commitments for Chinese EVs, although a specific timeline for the resumption of these talks was not provided.

Autonews | A dialogue occurred between the representatives just as U.S. President Donald Trump initiated his additional trade measures against Chinese exports.

China and the European Union conducted discussions to strengthen their economic and trade collaboration because of recent American punitive trade measures according to a Thursday Chinese Commerce Ministry statement. Tuesday saw Commerce Minister Wang Wentao from China join forces with Maros Sefcovic from the EU trade and economic security commission to substantiate bilateral cooperation approaches via video communication. The main priority addressed within this meeting included both the restart of negotiations for trade relief actions along with immediate talks about electric vehicle (EV) pricing commitments. A dialogue occurred between the representatives just as U.S. President Donald Trump initiated his additional trade measures against Chinese exports. Donald Trump announced temporary tariff reductions worldwide yet upped the pressure on China through his threat to raise the tariffs on their economy up to 125%. Also Read | China shares old video of Mao Zedong amid tariff war with US, says "Chinese not afraid of provocations" During their meeting Commissioner Sefcovic received a message from China's Minister of Commerce Wang about their commitment to deepen trade and investment as well as industrial partnership with the EU. The official demanded both trading blocs to maintain the rules-based approach to international trading while embracing trade liberalization and facilitation standards since this approach would bring stability to the global economy and worldwide commerce. The discussion between China and the EU covered enterprise-friendly market conditions while resolving transfer problems in trade operations. The participating parties maintained their commitment to maintain communication through the World Trade Organization while pushing for required reforms to the organization. Before these changes the EU implemented extra import tariffs reaching up to 35.3% on Chinese electric vehicle imports when conducting an anti-subsidy review on top of their usual 10% car import levies. Last week, the Chinese commerce ministry indicated that both sides had agreed to restart negotiations on minimum price commitments for Chinese EVs, although a specific timeline for the resumption of these talks was not provided.

China and EU explore closer trade ties amid US tariff pressure

The European Union stands ready to form a collective stance against the U.S. tariffs implemented by President Donald Trump by approving retaliatory trade measures estimated to affect up to USD 28 billion in U.S. imports. The decision represents an important heightening of worldwide trade dispute situations which could result in increased consumer spending and economic downturn.
The EU must contend with 25% steel and aluminum import duties and anticipates that upcoming 20% tariffs will impose restrictions on many types of goods. Most of the EU's exports worth USD 585 billion to the U.S. market remain vulnerable to impending duties that additionally cover copper and pharmaceuticals and semiconductors and timber.
The European Commission has planned to develop a list which will contain products from the United States that should be subject to retaliatory tariffs although it will mainly target items hit by Trump's steel and aluminum duties. European Commission will target U.S. products with exclusive duties that include meat together with cereals and wine in addition to wood and clothing and chewing gum and dental floss and vacuum cleaners and toilet paper.
Also Read | <a href="https://www.wionews.com/autonews/teslas-european-sales-plunge-amidst-anti-musk-sentiment-and-chinese-competition-8917329">Tesla's European sales plunge amidst anti-Musk sentiment and Chinese competition</a>
EU officials face a difficult choice regarding a plan to impose a 50% tariff on American bourbon which has prompted Trump to threaten a nine-fifth percentage retaliation against European alcohol imports. The wine-exporting nations France together with Italy both express their concerns about this particular restriction.
EU diplomats want to demonstrate solidarity by agreeing to talk with Washington while developing emergency responses in case negotiations fail. The first political meeting about EU trade aimed at discussing Trump's tariff announcement takes place in Luxembourg as ministers debate actions and effects of the measures.
France supports a multi-faceted response against tariffs yet Ireland defends a methodical response. Italy has challenged the idea of taking any retaliatory measures.
EU trade chief Maros Sefcovic recently described his discussions with U.S. counterparts as "frank," emphasizing the damaging and unjustified nature of the U.S. tariffs.
The initial EU counter-tariffs are scheduled for a vote on Wednesday and are expected to pass, barring an unlikely qualified majority against them. The measures would be implemented in two stages, with a portion taking effect on April 15 and the remainder a month later.
Commission President Ursula von der Leyen will also engage in discussions with industry leaders from the steel, automotive, and pharmaceutical sectors to assess the tariff impact and formulate further responses.

Autonews | The European Commission has planned to develop a list which will contain products from the US that should be subject to retaliatory tariffs.

The European Union stands ready to form a collective stance against the U.S. tariffs implemented by President Donald Trump by approving retaliatory trade measures estimated to affect up to USD 28 billion in U.S. imports. The decision represents an important heightening of worldwide trade dispute situations which could result in increased consumer spending and economic downturn. The EU must contend with 25% steel and aluminum import duties and anticipates that upcoming 20% tariffs will impose restrictions on many types of goods. Most of the EU's exports worth USD 585 billion to the U.S. market remain vulnerable to impending duties that additionally cover copper and pharmaceuticals and semiconductors and timber. The European Commission has planned to develop a list which will contain products from the United States that should be subject to retaliatory tariffs although it will mainly target items hit by Trump's steel and aluminum duties. European Commission will target U.S. products with exclusive duties that include meat together with cereals and wine in addition to wood and clothing and chewing gum and dental floss and vacuum cleaners and toilet paper. Also Read | Tesla's European sales plunge amidst anti-Musk sentiment and Chinese competition EU officials face a difficult choice regarding a plan to impose a 50% tariff on American bourbon which has prompted Trump to threaten a nine-fifth percentage retaliation against European alcohol imports. The wine-exporting nations France together with Italy both express their concerns about this particular restriction. EU diplomats want to demonstrate solidarity by agreeing to talk with Washington while developing emergency responses in case negotiations fail. The first political meeting about EU trade aimed at discussing Trump's tariff announcement takes place in Luxembourg as ministers debate actions and effects of the measures. France supports a multi-faceted response against tariffs yet Ireland defends a methodical response. Italy has challenged the idea of taking any retaliatory measures. EU trade chief Maros Sefcovic recently described his discussions with U.S. counterparts as "frank," emphasizing the damaging and unjustified nature of the U.S. tariffs. The initial EU counter-tariffs are scheduled for a vote on Wednesday and are expected to pass, barring an unlikely qualified majority against them. The measures would be implemented in two stages, with a portion taking effect on April 15 and the remainder a month later. Commission President Ursula von der Leyen will also engage in discussions with industry leaders from the steel, automotive, and pharmaceutical sectors to assess the tariff impact and formulate further responses.

EU seeks unified response to Trump tariffs, targeting USD 28 billion in US imports

Elon Musk, the tech mogul and current US government official running <a href="https://www.wionews.com/world/shame-on-you-trump-americans-gather-for-hands-off-protest-against-us-president-musk-say-dont-be-doge-bag-8930270" rel="dofollow noopener" target="_blank">DOGE</a> (Department of Government Efficiency), has voiced his aspiration for a tariff-free trade zone between the United States and Europe.&nbsp;
Speaking via video link at a congress organised by Italy's right-wing League Party, Musk said he hoped that both regions would "move ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America."
<h2>Diverging from Trump's protectionist policies</h2>
Musk's comments come on the heels of President Donald Trump's announcement of a 20 per cent tariff on all imports from the European Union and a 10 per cent standard tariff on almost all other countries, a move that has caused economic disruptions globally.
Also read: <a href="https://www.wionews.com/world/vietnam-first-to-fall-in-face-off-trump-tariffs-will-other-countries-follow-8926949" rel="dofollow noopener" target="_blank">Vietnam first to fall in face of Trump tariffs. Will other countries follow?</a>
Despite his role as head of the Department of Government Efficiency (DOGE) and his close advisory relationship with Trump, Musk's call for eliminating tariffs marks a notable deviation from the administration's current protectionist stance.
<h2>Tesla's challenges</h2>
Tesla has had a rough start to the year. The company recently reported a sharp drop in vehicle deliveries for the first quarter, with sales falling significantly in multiple European markets. The company&rsquo;s share price has nearly halved since December.
Musk himself has taken a major financial hit, losing billions following Trump&rsquo;s tariff decisions. The latest trade policies could worsen Tesla's already strained supply chain and further affect its global performance.
Also read: <a href="https://www.wionews.com/world/china-ai-donald-trump-us-treasury-secretary-scott-bessent-deepseek-us-stock-market-reciprocal-tariffs-8930105" rel="dofollow noopener" target="_blank">&lsquo;Blame China&rsquo;s AI, not Trump&rsquo;: US Treasury Secretary claims DeepSeek responsible for tanking stock market,&nbsp;not&nbsp;tariffs</a>
<h2>Musk wants freer movement and fewer rules</h2>
During the interview, Musk also called for greater freedom of movement between Europe and North America and criticised the level of regulation in Europe.
&ldquo;There are too many rules and regulations that make it very difficult to create a company and do too much to protect large companies at the expense of small to medium-sized companies,&rdquo; Musk said. He added that Brussels is &ldquo;amplifying&rdquo; the issue, arguing that &ldquo;radical deregulation is necessary.&rdquo;
Also read: <a href="https://www.wionews.com/world/cant-stomach-trumps-absurd-tariff-math-trumps-treasury-secy-looking-for-exit-door-after-tariffs-ruin-his-credibility-8930074" rel="dofollow noopener" target="_blank">'Can&rsquo;t stomach Trump&rsquo;s absurd tariff math': US treasury secretary 'looking for exit door' after tariffs ruin his credibility</a>
(With inputs from agencies)

World: Musk's comments come on the heels of President Donald Trump's announcement of a 20 per cent tariff on all imports from the European Union and a 10 per cent standard tariff on almost all other countries.

Elon Musk, the tech mogul and current US government official running DOGE (Department of Government Efficiency), has voiced his aspiration for a tariff-free trade zone between the United States and Europe. Speaking via video link at a congress organised by Italy's right-wing League Party, Musk said he hoped that both regions would "move ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America." Diverging from Trump's protectionist policies Musk's comments come on the heels of President Donald Trump's announcement of a 20 per cent tariff on all imports from the European Union and a 10 per cent standard tariff on almost all other countries, a move that has caused economic disruptions globally. Also read: Vietnam first to fall in face of Trump tariffs. Will other countries follow? Despite his role as head of the Department of Government Efficiency (DOGE) and his close advisory relationship with Trump, Musk's call for eliminating tariffs marks a notable deviation from the administration's current protectionist stance. Tesla's challenges Tesla has had a rough start to the year. The company recently reported a sharp drop in vehicle deliveries for the first quarter, with sales falling significantly in multiple European markets. The company’s share price has nearly halved since December. Musk himself has taken a major financial hit, losing billions following Trump’s tariff decisions. The latest trade policies could worsen Tesla's already strained supply chain and further affect its global performance. Also read: ‘Blame China’s AI, not Trump’: US Treasury Secretary claims DeepSeek responsible for tanking stock market, not tariffs Musk wants freer movement and fewer rules During the interview, Musk also called for greater freedom of movement between Europe and North America and criticised the level of regulation in Europe. “There are too many rules and regulations that make it very difficult to create a company and do too much to protect large companies at the expense of small to medium-sized companies,” Musk said. He added that Brussels is “amplifying” the issue, arguing that “radical deregulation is necessary.” Also read: 'Can’t stomach Trump’s absurd tariff math': US treasury secretary 'looking for exit door' after tariffs ruin his credibility (With inputs from agencies)

'Free trade zone': Elon Musk wants 'zero tariff situation' between US, EU after Tesla loses BILLIONS amid Trump's tariff war

The first orbital rocket launched from continental Europe crashed seconds after blast-off Sunday. Watch in the visuals!

European orbital rocket crashes after launch

EU Trade Commissioner Maros Sefcovic took part in serious talks with senior Trump administration trade officials on Tuesday to stop U.S. planned imposing high tariffs on EU exports that were scheduled for next week. These negotiating attempts cannot predict whether negotiations will succeed.
During his meeting with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer and White House economic advisor Kevin Hassett Sefcovic conducted important negotiations. President Trump maintained his planned reciprocal tariff implementation after the two failed trade talks when he faced European Commission Vice President Maros Sefcovic again together with other U.S. officials.
"The hard work goes on. Sefcovic underlined on X that the EU seeks appropriate reciprocal trade terms rather than unreasonable trade barriers as its main objective. The spokesperson for USTR refused to comment on the current discussions.
Also Read | <a href="https://www.wionews.com/autonews/teslas-european-market-share-declines-despite-growing-ev-adoption-8887959">Tesla's European market share declines despite growing EV adoption</a>
The negotiations take place while different nations hurry to offer tariff deals ahead of Trump's "Liberation Day" announcement day on April 2nd for economic rejuvenation in the U.S. The press agency Reuters states that India will lower import tariffs against U.S. goods worth USD 23 billion in the initial trade phase.
Trump indicated he would provide tariff exceptions to many foreign countries although he did not elaborate on which nations these would include. Separate import duties on autos and pharmaceuticals as well as aluminum will be implemented according to the president.
EU government leaders continue to attempt without success to prevent President Trump from starting a trade conflict that would lead to major expected trade counterattacks. The European official Sefcovic observed minimal advancement during meetings after the American government applied its tariff on steel and aluminum.
"They will discuss much of the same issues they've been discussing for the past few weeks, which is EU-U.S. trade relations, and from our perspective, why we should be making every effort on both sides to avoid harmful tariffs and build rather than tear down the EU-U.S. trade and economic relationship, which is the strongest in the world," said European Commission spokesman Olof Gill.
Sefcovic has expressed the EU's willingness to discuss reducing automotive tariffs on both sides of the Atlantic, including the EU's 10% car tariff and the U.S. 25% truck tariff.
Meanwhile, Canadian Prime Minister Mark Carney indicated Canada is prepared to retaliate against U.S. trade actions, but is not rushing to the negotiating table. He emphasized the need for "substantive discussions" between sovereign nations.

Autonews | Donald Trump indicated he would provide tariff exceptions to many foreign countries although he did not elaborate on which nations these would include.

EU Trade Commissioner Maros Sefcovic took part in serious talks with senior Trump administration trade officials on Tuesday to stop U.S. planned imposing high tariffs on EU exports that were scheduled for next week. These negotiating attempts cannot predict whether negotiations will succeed. During his meeting with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer and White House economic advisor Kevin Hassett Sefcovic conducted important negotiations. President Trump maintained his planned reciprocal tariff implementation after the two failed trade talks when he faced European Commission Vice President Maros Sefcovic again together with other U.S. officials. "The hard work goes on. Sefcovic underlined on X that the EU seeks appropriate reciprocal trade terms rather than unreasonable trade barriers as its main objective. The spokesperson for USTR refused to comment on the current discussions. Also Read | Tesla's European market share declines despite growing EV adoption The negotiations take place while different nations hurry to offer tariff deals ahead of Trump's "Liberation Day" announcement day on April 2nd for economic rejuvenation in the U.S. The press agency Reuters states that India will lower import tariffs against U.S. goods worth USD 23 billion in the initial trade phase. Trump indicated he would provide tariff exceptions to many foreign countries although he did not elaborate on which nations these would include. Separate import duties on autos and pharmaceuticals as well as aluminum will be implemented according to the president. EU government leaders continue to attempt without success to prevent President Trump from starting a trade conflict that would lead to major expected trade counterattacks. The European official Sefcovic observed minimal advancement during meetings after the American government applied its tariff on steel and aluminum. "They will discuss much of the same issues they've been discussing for the past few weeks, which is EU-U.S. trade relations, and from our perspective, why we should be making every effort on both sides to avoid harmful tariffs and build rather than tear down the EU-U.S. trade and economic relationship, which is the strongest in the world," said European Commission spokesman Olof Gill. Sefcovic has expressed the EU's willingness to discuss reducing automotive tariffs on both sides of the Atlantic, including the EU's 10% car tariff and the U.S. 25% truck tariff. Meanwhile, Canadian Prime Minister Mark Carney indicated Canada is prepared to retaliate against U.S. trade actions, but is not rushing to the negotiating table. He emphasized the need for "substantive discussions" between sovereign nations.

EU Trade Chief seeks to avert US tariffs in talks with Trump officials

The European Union excludes the United States, the United Kingdom, and Turkiye from the rearmament fund, imposing specific conditions for future participation in the initiative.

EU dumps US, UK & Turkiye from rearmament fund, sets conditions on joining plan

Europe is rearming, faced with an unrelenting U.S. position on NATO under the Trump Administration. The European Union is preparing a collective plan to ramp up defense expenditure. The EU is spending $875 billion in a collective effort to boost NATO's military capacity. In addition, Brussels plans to provide a $160 billion loan for each member state to strengthen its military. Watch in for more details!

European Union to scale up defence spending

Hungary and Slovakia are resisting the European Union's proposed sanctions against Russia. Hungary has demanded that several powerful businessmen be removed from the EU blacklist, even as Brussels is racing to find a compromise in the face of a deadline that ends on Saturday. Over the last 3 years, the EU has imposed sanctions on over 2,400 individuals and companies linked to Moscow's war effort. They include Vladimir Putin, Sergei Lavrov, and key oligarchs, and the list is renewed every 6 months. But Hungary, now joined by Slovakia, has been trying to weaken the measure. Watch in for more details!

Sanctions at risk as Hungary and Slovakia hold up agreement

Germany's Merz expressed interest in holding talks with France and the UK about the possibility of sharing nuclear capabilities. The proposal aims to strengthen European security and cooperation on defense matters.

EU nations seek to boost nuclear deterrence

European Commission President Ursula von der Leyen has announced a €4.7 billion investment package for South Africa, on her visit to the country for the EU-South Africa summit.

8th South Africa-European Union Summit: EU announces 4.7 bn Euro investment package

Authorities in Belgium and Portugal have launched a corruption and money laundering probe targeting the EU Parliament. Raids across 21 locations have led to multiple arrests, with a suspected link to Huawei under investigation. As top leadership refuses to comment, how deep does this scandal go?

EU parliament corruption probe: Raids, arrests, and Huawei link under scanner

The European Union on Wednesday announced retaliatory tariffs on imports from the US after Donald Trump’s proposed 25% tariffs on all steel and aluminum imports went into effect.

EU announces retaliatory tariffs on US as Trump's metal duties goes into effect

The US has imposed a 25% tariff on steel and aluminum imports, triggering global backlash. The EU has announced retaliatory tariffs on US steel products starting April 1, while Canada has rolled back a power surcharge after Trump’s warning. Markets remain volatile as the global trade war intensifies.

European Union slaps retaliatory tariffs on US steel products from April 1

In a retaliatory action, the European Union has announced new tariffs on $28.3 billion worth of US products in response to America&rsquo;s latest metal tariffs.
The decision was made on Wednesday, just hours after the US imposed a 25% tax on steel and aluminum imports, increasing tensions between the two sides. The EU will now consult its member countries, with the new tariffs expected to take effect by mid-April.
Also read: <a href="https://www.wionews.com/world/not-helping-us-slams-india-for-150-tariff-on-american-alcohol-says-trump-believes-in-reciprocity-8846649">'Not helping': US slams India for 150% tariff on American alcohol, says 'Trump believes in reciprocity'</a>
<h2>EU condemns tariffs as 'harmful to businesses and consumers'</h2>
European Commission President Ursula von der Leyen criticised the US decision, warning of its economic impact. &ldquo;We firmly believe that in a world fraught with geo-economic and political uncertainties, it is not in our common interest to burden our economies with such tariffs,&rdquo; she told reporters.
She further emphasised the negative consequences, saying, &ldquo;Tariffs are taxes. They are bad for business, and even worse for consumers&hellip; Jobs are at stake. Prices will go up. In Europe and in the United States&hellip; The countermeasures we take today are strong but proportionate.&rdquo;
Also read: <a href="https://www.wionews.com/world/canada-pm-elect-mark-carney-vows-maximum-impact-us-tariffs-response-8844505">'Until Americans show us respect': Canada PM-elect Carney vows 'maximum impact' response to US tariffs</a>
<h2>What the EU&rsquo;s tariffs will target</h2>
The EU&rsquo;s response will be much stronger than its last trade fight with Trump in 2018 when the US imposed tariffs on about $7 billion of European metals.
This time, the EU will target US steel, aluminum, textiles, farm products, and household appliances. It will also bring back tariffs on products previously hit during past trade disputes, such as bourbon, boats, and motorbikes.
Meanwhile, Trump has announced new US tariffs, set to start in early April. These will focus on European goods, especially cars, as part of a response to EU trade policies, including its value-added tax.
Also read: <a href="https://www.wionews.com/world/trump-to-double-canada-steel-aluminum-tariff-rate-to-50-says-will-shortly-declare-national-emergency-on-electricity-8843915">Trump to double tariff on Canada steel, aluminum to 50%, to declare 'National Emergency on Electricity'</a>
<h2>Failed negotiations and history of trade disputes</h2>
EU trade chief Maros Sefcovic recently visited Washington to negotiate with senior US officials, including Commerce Secretary Howard Lutnick. He offered to lower tariffs on industrial goods, particularly cars, one of Trump&rsquo;s key demands, and increase Europe&rsquo;s imports of US liquefied natural gas and defence equipment.
However, after talks failed, Sefcovic voiced disappointment, saying, &ldquo;The disruption caused by tariffs is avoidable if the US administration accepts our extended hand and works with us to strike a deal. We are ready to negotiate.&rdquo;
The conflict between the US and EU over metal tariffs began in 2018 when Trump first imposed taxes on European steel and aluminum, claiming national security concerns. The EU rejected this argument and responded with tariffs on politically important American goods, such as Harley-Davidson motorcycles and Levi&rsquo;s jeans.
Also read: <a href="https://www.wionews.com/world/how-donald-trumps-tremendous-resentment-for-japan-fueled-his-tariff-obsession-8703283">How Donald Trump's 'tremendous resentment for Japan' fueled his tariff obsession</a>
In 2021, both sides agreed to a temporary truce. The US eased some tariffs, replacing them with limits on metal imports, while the EU suspended its countermeasures.
Now, all those suspended tariffs, covering about $8 billion worth of US goods will return at the end of March. Some new tariffs that were never used before will also be introduced.
(With inputs from agencies)
&nbsp;

World: This time, the EU will target US steel, aluminum, textiles, farm products, and household appliances. It will also bring back tariffs on products previously hit during past trade disputes.

In a retaliatory action, the European Union has announced new tariffs on $28.3 billion worth of US products in response to America’s latest metal tariffs. The decision was made on Wednesday, just hours after the US imposed a 25% tax on steel and aluminum imports, increasing tensions between the two sides. The EU will now consult its member countries, with the new tariffs expected to take effect by mid-April. Also read: 'Not helping': US slams India for 150% tariff on American alcohol, says 'Trump believes in reciprocity' EU condemns tariffs as 'harmful to businesses and consumers' European Commission President Ursula von der Leyen criticised the US decision, warning of its economic impact. “We firmly believe that in a world fraught with geo-economic and political uncertainties, it is not in our common interest to burden our economies with such tariffs,” she told reporters. She further emphasised the negative consequences, saying, “Tariffs are taxes. They are bad for business, and even worse for consumers… Jobs are at stake. Prices will go up. In Europe and in the United States… The countermeasures we take today are strong but proportionate.” Also read: 'Until Americans show us respect': Canada PM-elect Carney vows 'maximum impact' response to US tariffs What the EU’s tariffs will target The EU’s response will be much stronger than its last trade fight with Trump in 2018 when the US imposed tariffs on about $7 billion of European metals. This time, the EU will target US steel, aluminum, textiles, farm products, and household appliances. It will also bring back tariffs on products previously hit during past trade disputes, such as bourbon, boats, and motorbikes. Meanwhile, Trump has announced new US tariffs, set to start in early April. These will focus on European goods, especially cars, as part of a response to EU trade policies, including its value-added tax. Also read: Trump to double tariff on Canada steel, aluminum to 50%, to declare 'National Emergency on Electricity' Failed negotiations and history of trade disputes EU trade chief Maros Sefcovic recently visited Washington to negotiate with senior US officials, including Commerce Secretary Howard Lutnick. He offered to lower tariffs on industrial goods, particularly cars, one of Trump’s key demands, and increase Europe’s imports of US liquefied natural gas and defence equipment. However, after talks failed, Sefcovic voiced disappointment, saying, “The disruption caused by tariffs is avoidable if the US administration accepts our extended hand and works with us to strike a deal. We are ready to negotiate.” The conflict between the US and EU over metal tariffs began in 2018 when Trump first imposed taxes on European steel and aluminum, claiming national security concerns. The EU rejected this argument and responded with tariffs on politically important American goods, such as Harley-Davidson motorcycles and Levi’s jeans. Also read: How Donald Trump's 'tremendous resentment for Japan' fueled his tariff obsession In 2021, both sides agreed to a temporary truce. The US eased some tariffs, replacing them with limits on metal imports, while the EU suspended its countermeasures. Now, all those suspended tariffs, covering about $8 billion worth of US goods will return at the end of March. Some new tariffs that were never used before will also be introduced. (With inputs from agencies)

‘Bad for business, worse for consumers’: EU slaps tariffs on $28.3bn US goods after Trump’s metal duties

European leaders are grappling with a strategy to safeguard Ukraine against a Russian assault in a bold move that could redefine the battlefield dynamics. There is a proposal for a European-Ukraine air protection plan that could halt Russian missile attacks. Take a look at this support. Watch in for more details!

European sky shield, Europe mulls deploying 120 fighter jets to safeguard Ukraine

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