Donald Trump’s new national security strategy offers a misguided assessment of Europe, long regarded as the US’s most reliable ally. Unrestrained immigration and other policies derided by administration officials as “woke”, it warns, could lead to “civilisational erasure” within a few decades. That argument rests on a fundamental misreading of Europe’s current predicament. While the EU does face an existential threat, it has little to do with immigration or cultural politics. In fact, the share of foreign-born residents in the US is slightly higher than in Europe. The real threat…
Tag: Business
Australian beef industry ‘extremely disappointed’ after China hits imports with 55% tariff
Australian beef producers said they were “extremely disappointed” after China announced a 55% tariff on imports that exceed quota levels in a move to protect a domestic cattle industry slowly emerging from oversupply. China’s commerce ministry said on Wednesday the total import quota for 2026 for Australia and other countries such as Brazil and the US covered under its new “safeguard measures” is 2.7m metric tons, roughly in line with the record 2.87m tons it imported overall in 2024. The new annual quota levels are set below import levels for…
China forecast to have sold one in every 10 new cars in UK in 2025
Chinese brands are on course to account for one in every 10 new cars sold in Britain during 2025, a marked increase on last year as sales increase across Europe. Manufacturers led by MG, BYD, and Chery are on track to break the 200,000 mark in UK new car sales in 2025, meaning they are very likely to account for 10% of the market, according to Matthias Schmidt, an analyst tracking electric cars across Europe. Spain and Norway also get a tenth of their new cars from Chinese brands, with…
Copper price on track for biggest rise in 15 years amid global shortage fears
Copper, the metal that underpins the fast-growing renewable energy industry, is on course for its biggest annual price rise in more than 15 years as traders react to fears of global shortages. As one of the main beneficiaries of the “electrification of everything”, copper has soared by more than 35% in value this year, spurred by US tariff uncertainty and concerns about mining disasters that could restrict supply. Analysts said copper had also joined silver and gold as a safe haven asset for investors wanting to hedge against the falling…
Influx of cheap Chinese imports could drive down UK inflation, economists say
As Trump’s tariffs take effect, Britain is likely alternative destination for cars, telecoms and sound equipment Business live – latest updates The UK is poised for an influx of cheap Chinese imports that could bring down inflation amid the fallout from Donald Trump’s global trade war, leading economists have said. After figures showed China’s trade surplus surpassed $1tn (£750bn) despite Washington’s tariff policies hitting exports to the US, the Bank of England said the UK was among the nations emerging as alternative destinations for the goods. Continue reading… The Guardian
China imposes sanctions on US defence firms over Taiwan arms deal
China’s foreign ministry has hit US defence companies including Boeing with sanctions after Donald Trump approved a large package of arms sales to Taiwan. The ministry said on Friday that the measures – against 10 individuals and 20 US firms including Boeing’s production hub at St Louis in Missouri – would freeze any assets the companies and individuals hold in China and bar domestic organisations and individuals from doing business with them. It comes after the Trump administration last week announced a package of arms sales to Taiwan valued at…
The second China shock is coming – and the UK’s response is too timid | George Magnus
Emmanuel Macron came back from China in early December empty-handed. The French president’s appeal to his Chinese counterpart, Xi Jinping, to help stop the war in Ukraine was never going to gain traction given Beijing’s unqualified support for Russia. Urging Xi to address China’s surging trade surplus, the result of the country’s economic and industrial policies, predictably also fell on closed ears. In any event, Xi’s main concerns were the imminent final politburo meeting of the year and the annual Central Economic Work Conference (CEWC) that followed. Centre stage was…
China hits EU dairy industry with tariffs of up to 42.7%
China will impose provisional duties of up to 42.7% on certain dairy products imported from the EU from Tuesday after concluding the first phase of an anti-subsidy investigation widely seen as retaliation for the bloc’s electric vehicle tariffs. The tariffs will range from 21.9% to 42.7% – although most companies will pay about 30% – and target products such as milk and cheese, including protected origin brands such as French roquefort and Italian gorgonzola. The European Commission attacked the decision as “unjustified and unwarranted” and said it was examining it…
Chinese robotaxis due in London next year as Lyft and Uber reveal tie-ups
Chinese robotaxis are due to be on the streets of London next year after the US ride-hailing companies Lyft and Uber announced tie-ups with Beijing-based Baidu to deploy its self-driving technology. Lyft is the third firm to announce plans to introduce self-driving taxis to the UK capital next year, after Uber and Waymo, the main operator of robotaxis in the US. Its ride-hailing services are the major rival to Uber’s in the US and Canada, and this year Lyft expanded into Europe after acquiring the Freenow app in the summer.…
EU watchdogs raid Temu’s Dublin HQ in foreign subsidy investigation
Temu’s European headquarters in Dublin have been raided by EU regulators investigating a potential breach of foreign subsidy regulations. The Chinese online retailer, which is already in the European Commission’s spotlight over alleged failures to prevent illegal content being sold on its app and website, was raided last week without warning or any subsequent publicity. “We can confirm that the commission has carried out an unannounced inspection at the premises of a company active in the e-commerce sector in the EU, under the foreign subsidies regulation,” a commission spokesperson said…