Influential ex-Thai PM Thaksin to receive verdict on royal insult case in late August
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The Star
22 minutes ago
- The Star
German minister: EU must become stronger in Trump tariff talks
Containers are stacked, after U.S. President Donald Trump threatened on Saturday to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, in the harbour of Duisburg, Germany, July 14, 2025. REUTERS/Thilo Schmuelgen WASHINGTON (Reuters) -German Finance Minister Lars Klingbeil said the European Union had been too weak during trade negotiations with the United States and it should become stronger, as much still needed to be clarified on the deal the two sides struck last month. "Overall, as Europeans, we must become stronger," Klingbeil said in Washington ahead of a meeting with U.S. Treasury Secretary Scott Bessent. "Then we can also stand up to the U.S. with more self-confidence. Not against the U.S., but in dialogue with the U.S." Klingbeil said there needed to be a quick solution to the trade conflict with the U.S. as companies needed planning certainty. "Even though I am not the one negotiating today — that is the task of the European Commission — a close line of communication between me and Scott Bessent can help clarify things," he said, emphasizing the importance of the Transatlantic relationship. Apart from tariffs, Klingbeil and Bessent will discuss how to deal with cheap Chinese goods that are flooding the markets in both the U.S. and Europe, as well as the G20 presidency that the U.S. will take at the end of the year. "I believe it is important that we, from the German side, keep sending a clear signal: We want to work closely with the American government, we seek dialogue, we do not shy away from difficult topics and are looking at how we can solve problems together," Klingbeil said. The EU's trade deal with Trump in July was greeted with a mix of relief and anger, with tariffs set at 15% for most products but negotiations continuing for certain sectors, including steel and aluminium, which carry tariffs of 50%. Klingbeil would advocate for a quota system on steel exports to be included in the trade deal, he told reporters. (Reporting by Maria Martinez; Writing by Matthias Williams; Editing by Alex Richardson)
The Star
an hour ago
- The Star
Trump says he will 'substantially' raise tariffs on India over Russian oil purchases
FILE PHOTO: U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands, at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque/File Photo WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday he willsubstantially raise tariffs on India over its purchases of Russian oil. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Trump last week said he would impose a 25% tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite U.S. Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter. (Reporting by Doina Chiacu; Writing by Caitlin Webber; Editing by Doina Chiacu and Franklin Paul)
The Star
an hour ago
- The Star
EU to suspend US tariff countermeasures for 6 months
FILE PHOTO: Containers are loaded on a container ship at a terminal at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File photo BRUSSELS (Reuters) -The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald Trump, a Commission spokesperson said on Monday. The EU-U.S. agreement leaves many questions open, including tariff rates on spirits, and Trump's executive order last week setting tariffs on most EU goods at 15% did not include carve-outs such as for cars and car parts. EU officials have said they expect more executive orders to follow soon. "The EU continues to work with the U.S. to finalise a Joint Statement, as agreed on 27 July," the spokesperson said in a statement. "With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU's countermeasures against the US, which were due to enter into force on 7 August." The retaliatory tariffs are in two parts: one in response to U.S. steel and aluminium duties, and the other to Trump's baseline and car tariffs. (Reporting by Julia Payne; Editing by Toby Chopra)
