China calls on WTO for greater oversight on unilateral tariffs
BEIJING (Reuters) -China's commerce minister has called on the World Trade Organisation to strengthen supervision over unilateral tariffs, and put forward objective and neutral policy proposals, the ministry said on Wednesday.
At a WTO ministerial meeting in France, Commerce Minister Wang Wentao reiterated China's stance on upholding a multilateral trading system and said WTO has the country's backing for a more important role in global economic governance.
Wang also met with European Trade Commissioner Maros Sefcovic and had a "pragmatic and frank" discussion with his Canadian counterpart.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Trump suggests terminating Musk's US government contracts, subsidies
WASHINGTON (Reuters) -U.S. President Donald Trump suggested on Thursday that he may terminate U.S. government contracts and subsidies given to Elon Musk's companies, as the public feud between the two men escalates over a tax and spending bill. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump said in a Truth Social post. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 minutes ago
- Yahoo
Trump budget bill would kill subsidies that made home solar mainstream
By Nichola Groom (Reuters) -A last-minute tweak to the Republican budget bill passed by Congress last month would immediately end subsidies for solar leasing companies that help make rooftop systems affordable to homeowners, likely leading to a massive drop in the pace of installations, according to industry representatives. President Donald Trump's "big, beautiful bill," now being taken up by the Republican-controlled Senate, would eliminate a 30% tax credit for solar leasing companies that charge homeowners a monthly fee for panels - one of numerous cuts directed at clean energy subsidies passed by former President Joe Biden. That provision, inserted shortly before the bill passed the House of Representatives on May 22, risks stifling a sector that buys American-made equipment, employs thousands of people and relieves strain on the grid, according to industry backers. "That's one of the harsher components of the one big, beautiful bill currently," said Gabe Rubio, a principal in the business incentives and tax credits practice at professional services firm BDO. Tax credits for homeowners who own their own rooftop systems would also be eliminated. The changes could result in as much as 40% less residential solar capacity being installed over the next five years, according to energy research firm Wood Mackenzie. Solar companies are lobbying the Senate to make changes to the bill before it becomes law. "America's home solar and storage industry is a powerful economic growth engine," Sunrun CEO Mary Powell said in a statement. "Senate Republicans now have an opportunity to advance the administration's energy independence agenda by amending this bill to keep American energy prices low and create well-paying U.S. manufacturing jobs." Trump campaigned on a promise to repeal the clean energy tax credits in Biden's 2022 Inflation Reduction Act, arguing they are expensive, unnecessary and harmful to business. Republican backers of the bill say the subsidy cuts would free up billions of dollars for other priorities. More than 5 million U.S. homes have solar panels, according to the Solar Energy Industries Association. LAST MINUTE CHANGE An earlier version of the bill had protected the credit for leased solar systems, but fiscal hawks including Representative Chip Roy of Texas have said publicly that they pressed for deeper cuts to clean energy credits at the eleventh hour. Roy's office did not respond to a request for comment. Solar leasing was pioneered two decades ago by companies including Sunrun and SolarCity, which is now owned by Elon Musk's company Tesla, and quickly became the primary way home solar panels were financed. Under the model, solar installers partner with financiers that own the rooftop panels and offset their federal tax bills by claiming the credit. Homeowners either pay a monthly fixed fee to lease the equipment or pay for the electricity the system generates under a power purchase agreement (PPA). In what some analysts have said could be a loophole, the House bill directly references leased systems but does not mention PPAs. About 44% of residential systems sold today are under such arrangements, according to EnergySage, an online solar marketplace. Solar installers say undermining the subsidies could have a ripple effect on U.S. manufacturers that supply them. Freedom Forever, a top privately-held installer based in Temecula, California, said in two years it has gone from using no U.S.-made equipment to now sourcing 85% of it from American facilities. That is thanks to another IRA subsidy that provides bonus 10% tax credits for using American-made equipment. "The administration wants to bring manufacturing back to the United States, and that's what our industry has been doing for the last two to three years," Freedom Forever CEO Brett Bouchy said.
Yahoo
16 minutes ago
- Yahoo
Witkoff urges Hamas to accept ceasefire proposal
Earlier on Thursday, the bodies of Judith Weinstein Haggai and her husband, Gadi Haggai, were recovered by the military. They held Canadian and American citizenships. US Envoy Steve Witkoff on Thursday said that Hamas must accept the current ceasefire proposal to ensure the remaining hostages are returned. "Although those who were murdered can never be replaced, this closure is absolutely critical and a minimum of human dignity." The bodies of hostages Judith Weinstein Haggai and her husband, Gadi Haggai, were retrieved by the IDF in the early hours of Thursday morning in a special forces operation performed in collaboration with intelligence from the Shin Bet and the IDF, the military announced. They held American and Canadian citizenships. The Mujahideen Brigades kidnapped and held the bodies of the two in Gaza after they were murdered on October 7 in Kibbutz Nir Oz. Their deaths were determined in December 2023. IDF forces carried out the rescue operation under the Southern Command. The information that allowed their retrieval into Israeli territory was learned during an interrogation of a captured terrorist. Negotiations between Israel and Hamas, mediated by Egypt, Qatar, and the US, are ongoing despite significant gaps, a source familiar with the matter told The Jerusalem Post. Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, met with senior Hamas officials based in Doha. These officials emphasized that Hamas demands US guarantees that negotiations for a deal, including a ceasefire, will continue after the initial 60-day period, the source told the Post. Efforts are being made to reach new understandings with Hamas before Eid al-Adha, which begins on Friday. In Doha, Bishara Bahbah, an envoy of Steve Witkoff, continued to engage with senior Hamas officials. The mediators, Egypt, Qatar, and the US administration, are working to advance a deal or at least secure agreements between the parties despite the challenges. Jerusalem Post Staff and Yonah Jeremy Bob contributed to this report.
