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The Hindu
29 minutes ago
- The Hindu
'Alliance govt. has cheated people on VSP,' alleges YSRCP leader
YSRCP district president K.K. Raju has alleged that the TDP-JSP-BJP alliance government in the State has cheated the people by promising to fight against privatisation of the Visakhapatnam Steel Plant (VSP) before the elections but is going back on it now. Addressing the media on Thursday evening, Mr. Raju recalled that the previous YSRCP government had passed a resolution in the Assembly against the privatisation of VSP and formally communicated the same to Prime Minister Narendra Modi. He demanded that the TDP and JSP MPs should withdraw their support to the Centre to pressure the Modi-led government to revoke its decision on the strategic sale of VSP. He urged the coalition government to demand allocation of captive mines to VSP for long-term viability. He also called upon the TDP and JSP leaders to join the agitation against the privatisation of VSP and show their commitment to the people of the State and North Andhra.
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Business Standard
29 minutes ago
- Business Standard
EU, US set new steps to cut tariffs and boost transatlantic trade
The US and European Union took the next steps to formalize their trade pact, detailing plans that could reduce tariffs on European automobiles within weeks while opening the door to new potential discounts for steel and aluminum. The joint statement issued Thursday advances the preliminary deal announced a month ago, by including specific benchmarks for the EU to secure its promised sectoral tariff discounts on cars, pharmaceuticals and semiconductors, as well as new commitments to cooperate on economic security matters, food standards and digital trade. President Donald Trump has repeatedly praised the sweeping US-EU trade framework, extolling it as 'a big deal' in a Monday White House meeting with foreign leaders including European Commission President Ursula von der Leyen. The deal provides predictability and 'delivers for our citizens & companies, and strengthens transatlantic relations,' von der Leyen said in a post on the social-media platform X. The development underscores the nature of trade talks under Trump, with some initial, broad pronouncements of deals giving way to weeks or more of work to hammer out detailed agreements. Many of them are also tied to sweeping policy changes that could take time to materialize. For example, Trump already imposed a flat 15 per cent rate on most European goods — half the 30 per cent he'd previously threatened. But the US promise to extend that lower levy to autos and auto parts now hinges on the EU formally introducing a legislative proposal to eliminate a host of its own tariffs on US industrial goods and provide 'preferential market access' for some US seafood and agricultural products. Car Relief The statement outlines choreographed action on both sides of the Atlantic, with the US codifying reduced auto tariffs once the EU 'formally introduces the necessary legislative proposal to enact' its own promised tariff reductions. The discounted 15 per cent tariffs on European auto imports — down from the current 27.5 per cent — would be effective from the start of the same month that legislation is advanced. They could be in place within weeks, said a senior Trump administration official who briefed reporters on the initiative. The shift has been anxiously anticipated by some EU member states, particularly Germany, which exported $34.9 billion of new cars and auto parts to the US in 2024. The legislative trigger is designed to help ensure the EU delivers on its promised tariff reductions — and ensure the 27-nation bloc has sufficient pressure to obtain the political mandate needed to make the changes, the administration official said. The US is committing to apply lower most-favored-nation, or MFN, tariffs to a slew of other European products — including aircraft and aircraft parts, generic pharmaceuticals and their ingredients and some natural resources such as cork. More carve-outs could be added in future, the statement says, but for now the EU has not succeeded in receiving the same treatment for wines, spirits and medical devices. The US is also renewing its commitment to cap future sectoral tariffs on European pharmaceutical products, semiconductors and lumber at 15 per cent. Metals Quotas It's also opening the prospect for discounted rates on some steel, aluminum and derivative products under a quota system. That's a shift from the White House's stated plans in July, when the Trump administration insisted those metal tariffs would remain at 50 per cent, helping to lower trade deficits with the EU and bring revenue to US coffers. On steel and aluminum, the EU and US now assert they 'intend to consider the possibility to cooperate on ring-fencing their respective domestic markets from overcapacity, while ensuring secure supply chains between each other,' according to the joint statement. Under the terms agreed by the two sides, the EU faces a 15 per cent tariff on most of its exports. The US clarified in an executive order last month that the EU's rate would function as a ceiling, while other exporters' universal duty is currently in addition to existing MFN duties. Goods covered by the order that faced MFN levies above 15 per cent will continue to do so, but separate sectoral tariffs do not stack on top of each other or on top of the universal rates, said some of the people. QuickTake: EU-US Trade Deal - What Has and Hasn't Been Agreed? The document leaves unanswered major questions about how the EU might fulfill its promise to invest $600 billion in the US or purchase some $750 billion in US energy resources — including liquefied natural gas, oil and nuclear power products — through 2028. Private sector investments by European companies would be expected across strategic sectors in the US, including pharmaceuticals, semiconductors and advanced manufacturing, the senior administration official said. Meanwhile, the EU plans to substantially increase procurement of military and defense equipment from the US, according to the statement, and intends to buy at least $40 billion worth of US artificial intelligence chips. According to the joint statement, the EU intends to provide preferential market access for a range of seafood and non-sensitive agricultural goods imported from the US, including tree nuts, certain dairy products, fresh and processed fruits and vegetables, processed foods, planting seeds, soybean oil, pork and bison meat. Digital Trade In recent weeks, deliberations over the EU's digital services regulations and potential relief for some goods — including wine and spirits - were seen prolonging talks. The EU didn't secure lower rates for alcohol in the joint statement. The US and EU are pledging to address some of what the joint statement calls 'unjustified digital trade barriers,' with the bloc confirming that it will 'not adopt or maintain network usage fees.' A question-and-answer paper released Thursday by Brussels said it made no commitment on digital services regulation. 'The Joint Statement does not include any commitment on EU digital regulations,' it said. The EU has committed to work toward providing more 'flexibilities' in its levy on carbon-intensive imports set to kick in next year, the statement said, and it will seek to ensure its corporate sustainability due diligence and reporting requirements don't pose 'undue restrictions on transatlantic trade.' Potential changes could include eased compliance requirements for small- and medium-sized businesses, according to the statement.
NDTV
an hour ago
- NDTV
Putin Demands Donbas Surrender, No NATO, No Western Troops In Ukraine: Report
Moscow: Russian President Vladimir Putin is demanding that Ukraine give up all of the eastern Donbas region, renounce ambitions to join NATO, remain neutral and keep Western troops out of the country, three sources familiar with top-level Kremlin thinking told Reuters. The Russian president met Donald Trump in Alaska on Friday for the first Russia-U.S. summit in more than four years and spent almost all of their three-hour closed meeting discussing what a compromise on Ukraine might look like, according to the sources who requested anonymity to discuss sensitive matters. Speaking afterwards beside Trump, Putin said the meeting would hopefully open up the road to peace in Ukraine - but neither leader gave specifics about what they discussed. In the most detailed Russian-based reporting to date on Putin's offer at the summit, Reuters was able to outline the contours of what the Kremlin would like to see in a possible peace deal to end a war that has killed and injured hundreds of thousands of people. In essence, the Russian sources said, Putin has compromised on territorial demands he laid out in June 2024, which required Kyiv to cede the entirety of the four provinces Moscow claims as part of Russia: Dontesk and Luhansk in eastern Ukraine - which make up the Donbas - plus Kherson and Zaporizhzhia in the south. Kyiv rejected those terms as tantamount to surrender. In his new proposal, the Russian president has stuck to his demand that Ukraine completely withdraw from the parts of the Donbas it still controls, according to the three sources. In return, though, Moscow would halt the current front lines in Zaporizhzhia and Kherson, they added. Russia controls about 88% of the Donbas and 73% of Zaporizhzhia and Kherson, according to U.S. estimates and open-source data. Moscow is also willing to hand over the small parts of the Kharkiv, Sumy, and Dnipropetrovsk regions of Ukraine it controls as part of a possible deal, the sources said. Putin is sticking, too, to his previous demands that Ukraine give up its NATO ambitions and for a legally binding pledge from the U.S.-led military alliance that it will not expand further eastwards, as well as for limits on the Ukrainian army and an agreement that no Western troops will be deployed on the ground in Ukraine as part of a peacekeeping force, the sources said. Yet the two sides remain far apart, more than three years after Putin ordered thousands of Russian troops into Ukraine in a full-scale invasion that followed the annexation of the Crimean peninsula in 2014 and prolonged fighting in the country's east between Russian-backed separatists and Ukrainian troops. Ukraine's foreign ministry had no immediate comment on the proposals. President Volodymyr Zelenskiy has repeatedly dismissed the idea of withdrawing from internationally recognised Ukrainian land as part of a deal, and has said the industrial Donbas region serves as a fortress holding back Russian advances deeper into Ukraine. "If we're talking about simply withdrawing from the east, we cannot do that," he told reporters in comments released by Kyiv on Thursday. "It is a matter of our country's survival, involving the strongest defensive lines." Joining NATO, meanwhile, is a strategic objective enshrined in the country's constitution and one which Kyiv sees as its most reliable security guarantee. Zelenskiy said it was not up to Russia to decide on the alliance's membership. The White House and NATO didn't immediately respond to requests for comment on the Russian proposals. Political scientist Samuel Charap, chair in Russia and Eurasia Policy at RAND, a U.S.-based global policy think-tank, said any requirement for Ukraine to withdraw from the Donbas remained a non-starter for Kyiv, both politically and strategically. "Openness to 'peace' on terms categorically unacceptable to the other side could be more of a performance for Trump than a sign of a true willingness to compromise," he added. "The only way to test that proposition is to begin a serious process at the working level to hash out those details." Trump: Putin Wants To See It Ended Russian forces currently control a fifth of Ukraine, an area about the size of the American state of Ohio, according to U.S. estimates and open-source maps. The three sources close to the Kremlin said the summit in the Alaskan city of Anchorage had ushered in the best chance for peace since the war began because there had been specific discussions about Russia's terms and Putin had shown a willingness to give ground. "Putin is ready for peace - for compromise. That is the message that was conveyed to Trump," one of the people said. The sources cautioned that it was unclear to Moscow whether Ukraine would be prepared to cede the remains of the Donbas, and that if it did not then the war would continue. Also unclear was whether or not the United States would give any recognition to Russian-held Ukrainian territory, they added. A fourth source said that though economic issues were secondary for Putin, he understood the economic vulnerability of Russia and the scale of the effort needed to go far further into Ukraine. Trump has said he wants to end the "bloodbath" of the war and be remembered as a "peacemaker president". He said on Monday he had begun arranging a meeting between the Russian and Ukrainian leaders, to be followed by a trilateral summit with the U.S. president. "I believe Vladimir Putin wants to see it ended," Trump said beside Zelenskiy in the Oval office. "I feel confident we are going to get it solved." Russian Foreign Minister Sergei Lavrov said on Thursday that Putin was prepared to meet Zelenskiy but that all issues had to be worked through first and there was a question about Zelenskiy's authority to sign a peace deal. Putin has repeatedly raised doubts about Zelenskiy's legitimacy as his term in office was due to expire in May 2024 but the war means no new presidential election has yet been held. Kyiv says Zelenskiy remains the legitimate president. The leaders of Britain, France and Germany have said they are sceptical that Putin wants to end the war. Security Guarantees For Ukraine Trump's special envoy Steve Witkoff was instrumental in paving the way for the summit, and the latest drive for peace, according to two of the Russian sources. Witkoff met Putin in the Kremlin on August 6 with Kremlin aide Yuri Ushakov. At the meeting, Putin conveyed clearly to Witkoff that he was ready to compromise and set out the contours of what he could accept for peace, according to two Russian sources. If Russia and Ukraine could reach an agreement, then there are various options for a formal deal - including a possible three-way Russia-Ukraine-U.S. deal that is recognised by the U.N. Security Council, one of the sources said. Another option is to go back to the failed 2022 Istanbul agreements, where Russia and Ukraine discussed Ukraine's permanent neutrality in return for security guarantees from the five permanent members of the U.N. Security Council: Britain, China, France, Russia and the United States, the sources added. "There are two choices: war or peace, and if there is no peace, then there is more war," one of the people said.
