India, U.S. mini trade deal unlikely before Aug 1, CNBC-TV18 reports
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
6 minutes ago
- Reuters
Heineken cheers EU-US trade deal as tariff problems hit shares
LONDON, July 28 (Reuters) - Dutch brewer Heineken ( opens new tab welcomed a trade deal between the European Union and the United States and said on Monday that it was weighing all options to deal with growing tariff challenges in the long term, including shifting manufacturing. The world's No.2 brewer exports beer, especially its namesake lager, to the U.S. from Europe and Mexico, and has also suffered from the indirect impact on consumer confidence in key markets like Brazil. Nevertheless, it reported a 7.4% increase in organic operating profit in the first half of the year, versus analyst expectations of 7%, crediting growth in once-difficult regions like Africa and Asia as well as cost savings. Heineken's shares fell 4.3% as the brewer cautioned on softer volumes for the remainder of the year as U.S. policies, especially on trade, disrupt markets in the Americas. CEO Dolf van den Brink welcomed the certainty brought by the trade deal clinched on Sunday, which reduced a threatened 30% U.S. tariff on EU goods to 15% - a rate that would still hit Heineken's U.S. profits. All options are being considered to mitigate tariffs long-term, including shifting manufacturing, he said, but added that such moves were capital intensive and would first need more consistency in policy. "We look at all options from ... continuing with our current setup, a more hybrid version, or otherwise," he told journalists on a call. "If and when we deem them financially to be more attractive in the mid- to long-term, we would for sure explore them." Heineken still faces U.S. tariffs of up to 30% on products it produces in Mexico unless the Mexican government can reach an agreement with Washington ahead of an August 1 deadline. Executives told journalists that since the first quarter, Heineken has also seen economic uncertainty hit spending and confidence in the U.S., Brazil and Mexico. In Mexico, remittances from the U.S. have fallen significantly, impacting beer industry sales. And U.S. Hispanic consumers were also spending less, van den Brink said. Heineken continues to expect annual profit growth of between 4% and 8%. The company also beat forecasts for second quarter revenue and volume, with growth in markets like Vietnam and India, and increased an annual cost-saving goal by a quarter to 500 million euros ($586 million). "They have slightly downgraded their volume everything going on in the to me doesn't feel like a terrible outcome," said Ryann Dean, global analyst at Heineken investor Aylett Fund Managers. Heineken's strong growth in markets like India and China, and consistent profitability, more than offset this, he continued, adding that emerging markets would drive Heineken's long-term volume growth. ($1 = 0.8535 euros)
Scotsman
8 minutes ago
- Scotsman
Sunday's News in Pictures: Donald Trump announces US-EU trade deal at Turnberry after day of golf
It was a busy day at Turnberry in South Ayrshire yesterday, with US President Donald Trump enjoying a day of golf before announcing a trade deal with the EU. Ahead of sitting down for a discussion with European Commission president Ursula von der Leyen, Mr Trump played a few rounds of golf with his family, where he was seen blowing kisses to supporters. It was later that day that he spoke with Ms von der Leyen to announce a trade deal between the EU and the US. Today, Mr Trump is set to meet one-on-one with UK Prime Minister Sir Keir Starmer at Turnberry, before they are expected to travel to a private engagement at Trump International in Menie. Here are some pictures from the historic day at Turnberry. 1 . US President Donald Trump shakes hands with European Commission President Ursula von der Leyen US President Donald Trump with European Commission President Ursula von der Leyen after agreeing on a trade deal between the two economies following their meeting at Turnberry | AFP via Getty Images Photo Sales 2 . US President Donald Trump shakes hands with European Commission President Ursula von der Leyen after agreeing on a trade deal between the two economies AFP via Getty Images Photo Sales 3 . US President Donald Trump (R) and European Commission President Ursula von der Leyen at Turnberry Trump told reporters after: "We have reached a deal. It's a good deal for everybody." The EU chief also hailed it as a "good deal". | AFP via Getty Images Photo Sales 4 . Staff and family, Bettina Anderson, Donald Trump Jr. and Eric Trump U.S. look on as President Donald Trump and President of the European Commission Ursula von der Leyen announce a US-EU trade deal The US-EU trade deal was announced after a meeting at Trump Turnberry golf club on July 27, 2025 in Turnberry, Scotland. | Getty Images Photo Sales
Reuters
9 minutes ago
- Reuters
European leaders react to US-EU trade deal
July 28 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods and averting a bigger trade war between the two allies that account for almost a third of global trade. Following are reactions from European leaders to the deal. "It is a sombre day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission." "This is not an agreement ... Donald Trump ate von der Leyen for breakfast, this is what happened and we suspected this would happen as the U.S. president is a heavyweight when it comes to negotiations while Madame President is featherweight." "This agreement has succeeded in averting a trade conflict that would have hit the export-orientated German economy hard. This applies in particular to the automotive industry, where the current tariffs of 27.5% will be almost halved to 15%." "I consider it positive that there is an agreement, but if I don't see the details I am not able to judge it in the best way." "The agreement brings much-needed predictability to the global economy and Finnish companies. Work must continue to dismantle trade barriers. Only free transatlantic trade benefits both sides the most." "This agreement does not make anyone richer, but it may be the least bad alternative. What appears to be positive for Sweden, based on an initial assessment, is that the agreement creates some predictability." "A deal provides a measure of much needed certainty for Irish, European and American businesses who together represent the most integrated trading relationship in the world. While Ireland regrets that the baseline tariff of 15% is included in the agreement, it is important that we now have more certainty on the foundations for the EU-US trade relationship, which is essential for jobs, growth and investment."
