
US and EU agree on 15% tariffs in new trade deal
Trump, who had earlier threatened to impose 30% tariffs on European products starting August 1, confirmed that the agreement also includes $600 billion in planned EU investments in the United States.
This article is an automatic translation. Click here to read the original article.
© Thomson Reuters 2025 All rights reserved.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fashion Network
an hour ago
- Fashion Network
Italian regulator hits Shein with 1 million euro greenwashing fine
Italy's competition authority (AGCM) imposed a 1 million euro (1.16 million dollar) fine on China-founded fast fashion online retailer Shein on Monday for misleading customers on the environmental impact of its products. This is Shein's second financial sanction by a European competition authority in little more than a month, after France fined the company 40 million euros on July 3 over fake discounts and misleading environmental claims. The Italian fine was imposed on Infinite Styles Services Co. Limited, a Dublin-based company that operates Shein's website in Europe, following a "greenwashing" investigation by AGCM launched last September. Shein did not immediately respond to a request for comment. AGCM said the environmental sustainability and social responsibility messages on Shein's website "were sometimes vague, generic, and/or overly emphatic, and in other cases omitted and misleading." Shein's claims on circular system design and product recyclability "were found to be false or at the very least confusing", and the green credentials of its 'evoluSHEIN by design' collection were overstated, the regulator said. Shein promotes the 'evoluSHEIN by design' collection as clothes made using more sustainable and responsible manufacturing. AGCM said consumers could be misled to think that the collection was made with eco-friendly materials and fully recyclable, "a fact that, considering the fibres used and currently existing recycling systems, is untrue". The authority also took issue with Shein's "vague and generic" commitments to cut greenhouse emissions by 25% by 2030 and to net zero by 2050, noting they contradicted its increase in emissions in 2023 and 2024. The Italian regulator said its overall assessment was influenced by an "increased duty of care" falling on Shein, "because it operates in a highly polluting sector and with highly polluting methods" such as fast and super-fast fashion. AGCM is in charge of consumer protection as well as competition. When AGCM's investigation was launched last year, Shein said it was "ready to cooperate openly with relevant Italian authorities, providing the necessary support and information to address any inquiries". Founded in China, Shein is known for its cheap tops and dresses. Its treatment of workers and environmental record came under increased scrutiny last year after reports that it was planning to list its shares in London.


Euronews
an hour ago
- Euronews
EU diplomats confirm they won't yet sanction Israel on Gaza
EU diplomats on Monday failed to agree once again on a partial suspension of Israel from the Horizon Europe fund in response to the war in Gaza, several diplomats said. Gathered online for their regular Mashreq/Maghreb Working Party and despite mounting pressure on Israel over the hunger crisis in Gaza, the 27 EU diplomats still couldn't reach any qualified majority on a European Commission proposal to cut Israel from partial access to the EU's €95 billion Horizon Europe research fund. 'The situation has not changed,' one EU diplomat said, referring to a formal meeting of EU ambassadors last week which also failed to agree to the Commission's proposal. The diplomat said the issue was now in the hands of the EU's foreign affairs ministers, who will meet informally on 29 August. With Israel facing global criticism over allowing starvation in the besieged strip and talks between Hamas and Israel at an impasse, the proposal itself would be a largely symbolic gesture. Israel would lose access to €200 millions' worth of future grants and investments in Horizon's European Investment Council (EIC) which specialises in so-called disruptive technologies. Commission officials say it would not affect support for fundamental or collaborative research. But even for a minimal sanction, there was no agreement among Europeans on Monday. Some EU countries have preferred to condemn Israel through individual initiatives like France's recognition of Palestine. The diplomat said support from the big countries like Germany or Italy, which is essential for a qualified majority vote to pass, was still lacking on Monday. Germany and Italy are part of those who 'prefer that dialogue with Israel continues', he said, while France, Spain and Ireland support the Commission proposal. Others including Romania and Finland 'are still examining' the text, he said. 'The refusal of certain member states to take even this smallest possible step to pressure Israel, while civilians continue to be killed and starved in Gaza, is absolutely incriminating,' said Martin Konecny, who heads the European Middle East Project in Brussels. Monday's meeting also took place a day after videos showing two Israeli hostages in Gaza appearing emaciated and distressed were released, sparking outrage among western leaders.


Fashion Network
2 hours ago
- Fashion Network
Italian regulator hits Shein with 1 million euro greenwashing fine
Italy's competition authority (AGCM) imposed a 1 million euro (1.16 million dollar) fine on China-founded fast fashion online retailer Shein on Monday for misleading customers on the environmental impact of its products. This is Shein's second financial sanction by a European competition authority in little more than a month, after France fined the company 40 million euros on July 3 over fake discounts and misleading environmental claims. The Italian fine was imposed on Infinite Styles Services Co. Limited, a Dublin-based company that operates Shein's website in Europe, following a "greenwashing" investigation by AGCM launched last September. Shein did not immediately respond to a request for comment. AGCM said the environmental sustainability and social responsibility messages on Shein's website "were sometimes vague, generic, and/or overly emphatic, and in other cases omitted and misleading." Shein's claims on circular system design and product recyclability "were found to be false or at the very least confusing", and the green credentials of its 'evoluSHEIN by design' collection were overstated, the regulator said. Shein promotes the 'evoluSHEIN by design' collection as clothes made using more sustainable and responsible manufacturing. AGCM said consumers could be misled to think that the collection was made with eco-friendly materials and fully recyclable, "a fact that, considering the fibres used and currently existing recycling systems, is untrue". The authority also took issue with Shein's "vague and generic" commitments to cut greenhouse emissions by 25% by 2030 and to net zero by 2050, noting they contradicted its increase in emissions in 2023 and 2024. The Italian regulator said its overall assessment was influenced by an "increased duty of care" falling on Shein, "because it operates in a highly polluting sector and with highly polluting methods" such as fast and super-fast fashion. AGCM is in charge of consumer protection as well as competition. When AGCM's investigation was launched last year, Shein said it was "ready to cooperate openly with relevant Italian authorities, providing the necessary support and information to address any inquiries". Founded in China, Shein is known for its cheap tops and dresses. Its treatment of workers and environmental record came under increased scrutiny last year after reports that it was planning to list its shares in London.