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LeMonde
40 minutes ago
- LeMonde
Treasury chief returns to US as China trade talks ongoing
US Treasury Secretary Scott Bessent on Tuesday, June 10, described closely watched trade talks with Chinese officials as productive, as scheduling conflicts prompted his departure from London with negotiations ongoing. Top officials from the world's two biggest economies held a second day of trade talks Tuesday at the UK's historic Lancaster House, with meetings stretching into the night. All eyes are on the outcomes as both sides try to overcome an impasse over export restrictions, with US officials earlier accusing Beijing of slow-walking approvals for shipments of rare earths. Bessent left the meetings early to return to Washington for testimony before Congress, a US official told AFP. But US Commerce Secretary Howard Lutnick and trade envoy Jamieson Greer, who were also part of the delegation, would further talks as needed with Chinese counterparts, the offical said. Earlier Tuesday, Lutnick told Bloomberg Television that the negotiations were "going well." Global stock markets were on edge, although Wall Street's major indexes climbed on hopes for progress. With meetings dragging on, "the lack of positive headlines weighed on stocks," said Kathleen Brooks, research director at XTB trading platform. US President Donald Trump told reporters Monday: "We are doing well with China. China's not easy." The London negotiations follow talks in Geneva last month, which saw a temporary agreement to lower tariffs. This time, China's exports of rare earth minerals – used in a range of things including smartphones, electric vehicle batteries and green technology – are expected to dominate the agenda. "In Geneva, we had agreed to lower tariffs on them, and they had agreed to release the magnets and rare earths that we need throughout the economy," Trump's top economic adviser, Kevin Hassett, told CNBC on Monday. Even though Beijing was releasing some supplies, "it was going a lot slower than some companies believed was optimal," he added. "Our expectation is that after the handshake, any export controls from the US will be eased, and the rare earths will be released in volume." 'Mirror arsenal' Both countries "have developed almost a mirror arsenal of trade and investment weapons that they can aim at each other," said Emily Benson, head of strategy at Minerva Technology Futures. As they tap economic tools to try and shift global power structures, she told AFP, it may not be reasonable to expect a typical trade and investment deal from talks. Partner service Learn French with Gymglish Thanks to a daily lesson, an original story and a personalized correction, in 15 minutes per day. But both sides could find ways to level off a downward spiral. Tensions between Washington and Beijing have heightened since Trump took office in January, with the countries engaging in a tariffs war. The Geneva pact temporarily brought new US tariffs on Chinese goods down from 145 percent to 30 % and Chinese countermeasures from 125% to 10%. But Trump later said China had "totally violated" the deal. A dialing down of temperatures could involve Chinese efforts to shore up some export control licenses caught in their system, Benson said. She noted Beijing appeared understaffed given the volume of requests. On the US side, this could look like a relaxation of certain export curbs in the high-tech domain, she added. But observers remain cautious. Since returning to office, Trump has slapped a 10% levy on friends and foes, threatening steeper rates on dozens of economies. His tariffs have dented trade, with Beijing data showing Chinese exports to the United States plunged in May. The World Bank on Tuesday joined other international organizations to slash its 2025 global growth forecast amid trade uncertainty. Meanwhile, China is in talks with partners including Japan and South Korea to try to build a united front countering Trump's tariffs. Chinese Vice Premier He Lifeng is heading the team in London, which includes Commerce Minister Wang Wentao and China International Trade Representative Li Chenggang. Bessent, Lutnick and Greer are leading the American delegation.
Euronews
4 hours ago
- Euronews
Macron says France will ban social media for under-15s if EU does not
President Emmanuel Macron said on Tuesday that France will ban access to social media for children under the age of 15 within "a few months" if this is not done at a European level. "We must ban social media for those under 15," Macron told the public television channel France 2 after a school staff member was stabbed by a 14-year-old student at the entrance to a secondary school in Nogent. "I'm giving us a few months to get the European mobilisation going. start doing it in France. We can't wait," he said. A pupil fatally stabbed a school staff member during a routine bag check at the middle school in eastern France, officials said. The teenager was arrested at the scene. A police officer assisting with the bag checks sustained minor injuries while apprehending the suspect, who used the same knife in both attacks, according to the National Gendarmerie. It's not immediately clear whether the attack was linked to anything the student had seen on social media, or why local media had made the link. This is a developing story and our journalists are working on further updates. The EU is planning to borrow €150 billion on the financial markets for its new lending instrument Security Action for Europe (SAFE). It is one of the pillars of the Readiness 2030 plan, which aims to mobilise €800 billion for defence investment by the end of the decade. "Russia's war in Ukraine and the EU's attempt to support Kyiv really highlighted the dependencies and shortcomings of the EU's defence industrial base and how ill-prepared we were in the event of being forced into a conventional war," said Alice Tidey, a Euronews reporter who covered the announcement. "SAFE is about firing up European weapons manufacturing lines by getting member states to buy strategically and together so that the industry becomes less fragmented and quicker to produce, and our armies, more crucially, become more interoperable. And of course, also, it's about putting prices down," she added. The investments should boost production and procurement of air and missile defence, artillery systems, missiles and ammunition, as well as other crucial military equipment to deal with security threats, including critical infrastructure protection and cyber, artificial intelligence and electronic warfare. "It gives countries the possibility to find money to buy military equipment. It's a beginning and I think it's very good sign," said German MEP Marie-Agnes Strack-Zimmermann from the Renew group. The parliamentarian who chairs the European Parliament's Security and Defense Committee also highlighted that some of the technology could have dual use and be useful for civilian purposes. Euronews spoke to residents in Rome and opinions were divided. 'We need to defend ourselves and the threat is at our doorstep,' said one . 'They shouldn't increase spending for a war that won't happen. This is not our war,' said another resident in the Italian capital, referring to Russia's invasion of Ukraine. In Berlin, the same divisions were evident: 'If the aim is to start another arms race, then I'm not in favour,' said one resident of the German city. 'I'm all for a joint European defence effort, but without going into debt,' said another. Governments will have to repay over 45 years and they can also activate the Stability and Growth Pact's National Escape Clause, which stipulates that budget deficits cannot exceed 3% of GDP. Under SAFE, governments can exceed this figure by 1.5% per year, provided that the amount is spent solely on defence. More than half of member states have requested activation from the European Commission. To receive loans, governments must meet certain conditions: 65% of the value of each piece of military equipment must be produced in one of the 27 EU member states, Ukraine and the European Free Trade Association (EFTA) members Iceland, Liechtenstein and Norway. The remaining 35% can also come from any third country in the world. The common procurement can include EU candidate countries, such as the Western Balkans, and third countries with bilateral security and defence partnerships, such as Japan, South Korea and the United Kingdom. However, the EU remains highly dependent on weapons purchased from the US and the increased investment could be a clear indication of the bloc's commitment to becoming more autonomous, something that President Donald Trump has demanded in the framework of NATO. "I'm optimistic that the President of the US will realise what we are now starting to do," said Strack-Zimmermann. The EU is planning to raise more funds, with the European Commission proposing to use part of the Cohesion Funds, which are intended for regional development. The European Investment Bank will also try to mobilise private funds for this area for the first time. Watch the video here! Journalist: Isabel Marques da Silva Content production: Pilar Montero López Video production: Zacharia Vigneron Graphism: Loredana Dumitru Editorial coordination: Ana Lázaro Bosch and Jeremy Fleming-Jones
Euronews
4 hours ago
- Euronews
Is debt justified to increase defence investments?
President Emmanuel Macron said on Tuesday that France will ban access to social media for children under the age of 15 within "a few months" if this is not done at a European level. "We must ban social media for those under 15," Macron told the public television channel France 2 after a school staff member was stabbed by a 14-year-old student at the entrance to a secondary school in Nogent. "I'm giving us a few months to get the European mobilisation going. start doing it in France. We can't wait," he said. A pupil fatally stabbed a school staff member during a routine bag check at the middle school in eastern France, officials said. The teenager was arrested at the scene. A police officer assisting with the bag checks sustained minor injuries while apprehending the suspect, who used the same knife in both attacks, according to the National Gendarmerie. It's not immediately clear whether the attack was linked to anything the student had seen on social media, or why local media had made the link. This is a developing story and our journalists are working on further updates. The EU is planning to borrow €150 billion on the financial markets for its new lending instrument Security Action for Europe (SAFE). It is one of the pillars of the Readiness 2030 plan, which aims to mobilise €800 billion for defence investment by the end of the decade. "Russia's war in Ukraine and the EU's attempt to support Kyiv really highlighted the dependencies and shortcomings of the EU's defence industrial base and how ill-prepared we were in the event of being forced into a conventional war," said Alice Tidey, a Euronews reporter who covered the announcement. "SAFE is about firing up European weapons manufacturing lines by getting member states to buy strategically and together so that the industry becomes less fragmented and quicker to produce, and our armies, more crucially, become more interoperable. And of course, also, it's about putting prices down," she added. The investments should boost production and procurement of air and missile defence, artillery systems, missiles and ammunition, as well as other crucial military equipment to deal with security threats, including critical infrastructure protection and cyber, artificial intelligence and electronic warfare. "It gives countries the possibility to find money to buy military equipment. It's a beginning and I think it's very good sign," said German MEP Marie-Agnes Strack-Zimmermann from the Renew group. The parliamentarian who chairs the European Parliament's Security and Defense Committee also highlighted that some of the technology could have dual use and be useful for civilian purposes. Euronews spoke to residents in Rome and opinions were divided. 'We need to defend ourselves and the threat is at our doorstep,' said one . 'They shouldn't increase spending for a war that won't happen. This is not our war,' said another resident in the Italian capital, referring to Russia's invasion of Ukraine. In Berlin, the same divisions were evident: 'If the aim is to start another arms race, then I'm not in favour,' said one resident of the German city. 'I'm all for a joint European defence effort, but without going into debt,' said another. Governments will have to repay over 45 years and they can also activate the Stability and Growth Pact's National Escape Clause, which stipulates that budget deficits cannot exceed 3% of GDP. Under SAFE, governments can exceed this figure by 1.5% per year, provided that the amount is spent solely on defence. More than half of member states have requested activation from the European Commission. To receive loans, governments must meet certain conditions: 65% of the value of each piece of military equipment must be produced in one of the 27 EU member states, Ukraine and the European Free Trade Association (EFTA) members Iceland, Liechtenstein and Norway. The remaining 35% can also come from any third country in the world. The common procurement can include EU candidate countries, such as the Western Balkans, and third countries with bilateral security and defence partnerships, such as Japan, South Korea and the United Kingdom. However, the EU remains highly dependent on weapons purchased from the US and the increased investment could be a clear indication of the bloc's commitment to becoming more autonomous, something that President Donald Trump has demanded in the framework of NATO. "I'm optimistic that the President of the US will realise what we are now starting to do," said Strack-Zimmermann. The EU is planning to raise more funds, with the European Commission proposing to use part of the Cohesion Funds, which are intended for regional development. The European Investment Bank will also try to mobilise private funds for this area for the first time. Watch the video here! Journalist: Isabel Marques da Silva Content production: Pilar Montero López Video production: Zacharia Vigneron Graphism: Loredana Dumitru Editorial coordination: Ana Lázaro Bosch and Jeremy Fleming-Jones A second group of Ukrainian and Russian prisoners of war were returned home on Tuesday as part of a deal made during direct talks in Istanbul on 2 June. The exchange began on Monday for soldiers aged between 18-25, focusing on seriously wounded and sick Ukrainian service personnel, President Volodymyr Zelenskyy said on Telegram, without specifying the exact number. Among them were soldiers captured over three years ago in the battle for Mariupol, the Coordination Headquarters for the Treatment of Prisoners of War said on Telegram. All of those freed had severe injuries and illnesses, including amputated limbs and vision problems, it said. Amina Ivanchenko was reunited Monday with her husband, a POW for 18 months, in the initial release. She said was grateful to Ukrainian officials for supporting her. "My struggle was much easier thanks to them. Our country will definitely return everyone. Glory to Ukraine! Thank you!" Anastasia Nahorna waited in the Chernyhiv region to see if her husband, who has been missing for eight months, was among those being released in the latest swap. "This pain is more unbearable every day," she said. "I really want to hear some news, because since the moment of his disappearance, unfortunately, there has been no information. Is he alive? or maybe in captivity? Has someone seen him?" Russia's Defence Ministry said it had also received a second group of released soldiers as part of the deal. The Russian servicemen arrived on the territory of Belarus, where they are receiving psychological and medical assistance, the ministry said in a statement, without specifying the number of exchanged soldiers. All servicemen will be transported to Russia for further treatment and rehabilitation, the statement added. A similar exchange was announced for the bodies of fallen soldiers held by both sides, although no schedule has been released. Two recent rounds of direct peace talks between Russian and Ukrainian delegations in Istanbul have yielded no significant breakthroughs beyond pledges to swap prisoners as well as thousands of their dead and seriously wounded troops.
