Donald Trump’s 1 August tariffs deadline did what it was always intended to do. It kept the markets and the nations guessing amid last-minute uncertainty. It attempted to reassert the global heft of the United States economy to take on and master all comers. And it placed President Trump at the centre of the media story, where he always insists on being. In the event, there were some last-minute agreements struck this week, few of them fair or rational in trade terms, most of them motivated by the desire to…
Tag: European Union
As Trump’s tariff regime becomes clear, Americans may start to foot the bill
Burying the hatchet with Brussels, Donald Trump – flanked by the leader of the European Commission – hailed a bold new era of transatlantic relations, an ambitious economic pact, and declared: “This was a very big day for free and fair trade.” That was seven years ago. And then on Sunday, the US president – flanked by a different leader of the European Commission – hailed another new era of transatlantic relations, another economic pact and declared: “I think it’s the biggest deal ever made.” Trumpian hyperbole can typically be…
EU commissioner shocked by dangers of some goods sold by Shein and Temu
The EU justice commissioner has expressed shock at the toxicity and dangers of some goods being sold by Shein and Temu, amid a crackdown on the popular Chinese retail platforms. With 12m low-value parcels each day coming into the EU from online retailers outside the bloc, Michael McGrath has vowed to crack down on the sale of goods that blatantly break the law. He is waiting for the imminent results of an EU-wide secret shopper operation to further test evidence already gathered that Chinese retailers are bypassing EU laws. Among…
Five key takeaways from Macron’s speech to UK parliament
Emmanuel Macron, making the state visit by a European head of state to the UK since Brexit, has addressed MPs and peers in the Royal Gallery in parliament. Here are five standout moments from his speech 1. A mild dig at Brexit Nine years on from the referendum, and coded laments about Brexit are more palatable. The French president said that while the UK was no longer in the EU, it “cannot stay on the sidelines because defence and security, competitiveness, democracy – the very core of our identity –…
EU’s proposed 2040 emissions target signals its retreat as leader on climate action
For most of the past 30 years, the EU has led the world on climate action. The bloc had the deepest reductions in greenhouse gas emissions under the Kyoto protocol; the first climate laws came from EU member states; the first emissions trading scheme, in 2005; and the Paris agreement in 2015. At times when other major countries – the US, Japan, Canada, China and India at various points – have stepped back, the EU has often stepped forward. There would be no Paris accord had the bloc not won…
EU may as well be ‘province of China’ due to reliance on imports, says industrialist
The EU may as well “apply to be a province of China” such is its inability to wean itself off that country’s supply of critical raw materials used in everything from electric vehicles to smartphones and wind turbines, a leading German industrialist has said. As chief executive of AMG Lithium, the EU’s first factory to make the lithium hydroxide used in many car batteries, Stefan Scherer sits at the centre of what has been dubbed a new gold rush. But the chemist said China will continue to dominate battery technology…
Trump accuses EU of dragging its heels on a tariff deal with the US
Donald Trump said the EU had been dragging its heels “to put it mildly” on sealing a tariff deal with the US, repeating his assessment that his threat of a 50% tariff on imports from the bloc was an “extremely” satisfactory move. He commended the EU for calling to “quickly establish meeting dates” but reignited fears of a trade war with the region by adding criticism of the EU to his statement on his Truth Social platform on Tuesday. “I was extremely satisfied with the 50% tariff allotment on the…
TikTok breached EU advertising transparency laws, commission says
The European Commission has said TikTok is in breach of EU digital laws that require transparency over who pays for advertising. The commission reached a preliminary verdict on the Chinese-owned short video platform’s advertising policy, having launched an investigation in February 2024. The company could face a fine of 6% of global annual turnover, if the commission upholds this view. The commission said a separate EU inquiry into TikTok’s suspected failure to guarantee election integrity in Romania, which was launched last December, was ongoing and was a priority. The commission’s…
TikTok fined €530m by Irish regulator for failing to guarantee China would not access user data
TikTok has been fined €530m (£452m) by an Irish watchdog over a failure to guarantee that European user data sent to China would not be accessed by the Chinese government. Ireland’s Data Protection Commission (DPC) regulates TikTok across the European Economic Area (EEA), which includes all 27 EU member states plus Iceland, Liechtenstein and Norway. It found the Chinese-owned video-sharing app breached general data protection regulation (GDPR) by not addressing whether EEA user data sent to China would be shielded from that country’s authorities. The DPC said: “TikTok did not…
Starmer and Reeves try to ride three horses with US, EU and China trade ties
Riding two horses is hard enough, but diplomats are joking in private that Keir Starmer and Rachel Reeves are trying to ride three. At the International Monetary Fund summit in Washington this week, Reeves sought to position the UK as a beacon of free trade that is open to business with the EU, US and China. Riding those three horses is central to the government’s strategy for boosting growth and navigating the international stage at a time when old alliances are being upended and the post-cold war order redrawn. What…