Trump administration sues California over egg regulations, costs
Since the federal law's enactment, California has passed several laws to regulate eggs and chicken farms, including voter initiatives passed in 2008 and 2018 that prevent farmers from packing chickens together so tightly that a hen is unable to "lie down, stand up, fully extend its limbs, and turn around freely."Those state laws aimed to reduce both animal cruelty and the risk of foodborne illness, but the US government said in its lawsuit that only the federal government can regulate egg safety.California can regulate chicken farms within the state, but it cannot impose additional requirements on eggs from other states that are sold within California, according to the lawsuit.The California voter initiatives have survived previous challenges from farmers and other states.Six states – Missouri, Nebraska, Oklahoma, Alabama, Kentucky and Iowa – sued California over its egg regulations in 2014. The states who sued also argued that the federal law preempted California's laws, and they lost in both a federal district court and the 9th U.S. Circuit Court of Appeals.The US Supreme Court in 2023 preserved one of the California voter initiatives, which was challenged in a lawsuit by pig farmers. The pig farmers had argued that California's 2018 ballot measure, which creates minimum space requirements for pigs and cows as well as chickens, impermissibly regulated out-of-state farmers.- EndsTune InTrending Reel
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Mint
14 minutes ago
- Mint
India-US trade deal: What's holding back the agreement and risks of further delays? Explained
India-US trade deal: The Indian stock market is navigating rough terrain, in contrast to Western markets, particularly the US, which is hitting record highs as progress on trade deals with major partners has eased earlier investor concerns about rising inflation and its potential spillover effects on the world's largest economy. As the US signed trade deals with major economies, with the latest being Japan and the Philippines after inking deals with Indonesia and Vietnam, which are key economies in the Asia region, the discussion with India is still ongoing. Despite multiple rounds of negotiations, an official announcement continues to be delayed. Earlier, the potential deal was expected to be announced before July 09, after the White House and Trump himself stated that an agreement with India would be finalized. However, the White House is reportedly demanding greater access for agriculture, dairy, and genetically modified (GM) products, which is delaying the signing of the deal, a demand New Delhi is reportedly denying in order to protect farmers. In addition, India is seeking tariff rates lower than those granted to other Asian nations that have already signed deals with the US, in a bid to gain a competitive edge. Meanwhile, the delay in concluding the deal is also dampening sentiment in the Indian stock market, with investors awaiting full clarity before the next leg of the rally, resulting in frontline indices trading in a tight range for most of July. According to Harshal Dasani, Business Head at INVasset, markets are currently grappling with three simultaneous overhangs—uncertain US trade policy, relentless FII selling, and uninspiring Q1 earnings. While the US recently signed a trade deal with the Philippines, talks with India remain stuck. Dasani highlights Washington's dual stance: on one hand, it's pursuing selective trade alignments; on the other, it's threatening up to 500% tariffs on countries trading with Russia. This, he explains, puts India in a complex position, facing scrutiny for importing discounted Russian oil while still being courted for strategic cooperation. "But Washington cannot afford to alienate both India and China. The longer it delays a decisive stance, the closer India, China, and Russia move, which could be a geopolitical nightmare for the US. Meanwhile, markets dislike ambiguity. Investors are pricing in volatility not because of bad news, but due to the absence of clear direction," said Dasani. Dasani further adds that a tariff hike below 20% on Indian goods might even be digested positively by the markets, while anything higher could trigger a knee-jerk reaction. The Street is well aware the US cannot sustain such elevated tariffs without inviting domestic backlash or triggering inflationary pressure. He also points out that FIIs have already pulled out over ₹ 22,185 crore in July alone, a move driven largely by a strengthening dollar and elevated US bond yields, adding to the pressure on Indian equities. Q1 earnings, he says, have been mixed, with autos and banks under pressure while healthcare and capital goods have shown resilience. In this environment, positioning in domestic, policy-linked themes like defense, railways, and power, along with selective accumulation in small caps, remains the best course. Clarity—not comfort—will drive the next leg, he stated. Sankhanath Bandyopadhyay, Economist at Infomerics Valuation and Ratings, said, "The delay in finalising a US-India trade deal underscores the complexity of balancing economic pragmatism with domestic sensitivities. For India, agriculture and dairy aren't just trade sectors; they are the backbone of rural livelihoods, impacting over 700 million people." Meanwhile, the US is pushing hard for access to India's high-tariff markets, especially in the agri- and digital sectors, while raising tariffs on Indian steel, aluminum, and auto exports. Unlike recent US trade partners like the UK or Vietnam, Sankhanath pointed out that India is not willing to concede on politically critical sectors and is instead negotiating from a position of strategic autonomy. However, he cautioned that prolonged delays in concluding the deal could carry risks, which include lost export competitiveness, retaliatory tariffs, and a dent in the broader U.S.-India strategic alignment, including tech and defense cooperation. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Hindustan Times
16 minutes ago
- Hindustan Times
Beijing's Trade Tactics, Ukraine Stance Cast Pall Over Europe-China Ties
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Chinese and European leaders must 'make the right strategic choices' amid a fast-changing and tumultuous global environment, Chinese leader Xi Jinping told visiting EU leaders in Beijing on Thursday, according to Chinese state media. 'The more severe and complex the international situation is, the more China and the EU should strengthen communication, enhance mutual trust and deepen cooperation.' The EU has toughened its stance toward Beijing in recent years. The European Commission, the bloc's executive body, refers to China as a rival, and its president, Ursula von der Leyen, says she wants to curb Europe's reliance on China for vital materials. Some European governments have been skeptical of her approach. But China's rationing of Western access to critical raw materials jolted many of them, providing a rare moment of unity in the bloc about what they see as Beijing's hardball tactics. Germany, a central player in European foreign policy, pledged earlier this year to reduce risks in its economic relationship with China. At a meeting of the Group of Seven industrialized economies last month, von der Leyen went further, accusing China of creating a pattern of 'dominance, dependency and blackmail' and calling for a united response. China said the comments were 'riddled with bias and double standards.' Von der Leyen is attending the summit along with European Council President António Costa, who represents the bloc's 27 member states. The two leaders met Xi on Thursday and are due to meet with Chinese Premier Li Qiang later in the day. China has sought to position itself as a force for stability and an antidote to Trump's trade measures, offering olive branches that have included lifting sanctions against European lawmakers and easing visa requirements. Chinese Foreign Minister Wang Yi recently dismissed concerns that China's export controls on rare earth elements are fueling discord with Europe, saying that as long as Chinese regulations are adhered to, 'the normal demands of European companies will be guaranteed.' European officials remain unconvinced, and question whether Beijing will address their basic economic concerns. Some think China could expand activities that would hurt European companies. 'The China-EU relationship does face some challenges,' Chinese Foreign Ministry spokesman Guo Jiakun said at a briefing on Monday. 'Some in the EU,' he said, have 'exaggerated specific economic and trade issues and groundlessly accused China on the Ukraine issue,' referring to accusations that China supports Russia in the war. The summit comes on the heels of a World Trade Organization arbitration ruling on Monday that gave the EU a partial win in an intellectual-property dispute with China centered on mobile technology. A European Parliament delegation visited Taipei this week, meeting Taiwan President Lai Ching-te and other officials—a form of engagement that China has long denounced as a challenge to its sovereignty claims over the self-governed island. And the EU has launched several investigations into Chinese subsidies. Last month, it announced plans to exclude Chinese companies from bidding on public procurement above 5 million euros, equivalent to about $5.9 million, for medical devices after an EU probe found that China's policies were keeping European companies out of China's medical-devices procurement market. The bloc also blacklisted half a dozen Chinese firms in its latest sanctions package targeting Russia, including for the first time two regional Chinese banks—a move that Beijing criticized as harmful to economic ties. Even so, Beijing played down tensions with the EU ahead of the summit and urged the bloc to seek common ground with China. During a visit earlier this month to Brussels, Berlin and Paris, Wang, the Chinese foreign minister, urged European leaders to take a positive and pragmatic approach toward China, according to readouts from China's Foreign Ministry. Other officials, including Beijing's envoy to the EU, made similar appeals in recent days. But in Brussels, Wang also told EU foreign-policy chief Kaja Kallas what European officials have long suspected, according to two people at the meeting—that Beijing didn't want to see Russia lose the war because it would mean the U.S. turning its attention fully toward China. 'I think we should expect a very difficult moment and not a dealmaking moment,' said Abigael Vasselier, head of China's foreign-relations program at the Mercator Institute for China Studies, a European think tank on China. Wang's meeting in Brussels, she said, 'has put back the question of China's support for Russia in the center of the discussion.' EU leaders traveled to China after a summit in Japan on Wednesday. The bloc is looking to deepen ties with Tokyo on defense, trade and economic security and believes the two sides share similar concerns over China's economic policies and its support for Russia. Following Trump's election in November, Beijing and Brussels briefly softened their mutual criticism. Some Europeans discussed pursuing deeper ties with China to hedge against a more volatile Washington. Chinese state media have suggested that the EU's pivot toward a more confrontational approach toward Beijing is aimed at currying favor with the Trump administration as it negotiates a trade deal. Washington and Brussels appear to be nearing a deal that would set tariffs on European exports to the U.S. at 15%. Still, there are some issues the two sides could cooperate on. EU and Chinese officials are in talks about a possible price agreement on electric vehicles that could replace the bloc's tariffs, which were imposed last year after a lengthy investigation concluded that Chinese subsidies are unfairly disrupting the European EV market. China struck a similar price deal with some of France's biggest brandy sellers after an antidumping investigation into European brandy. EU officials viewed Beijing's brandy investigation, as well as two ongoing probes into European dairy and pork, as retaliation for the bloc's decision to open its EV investigation and impose tariffs. The European and Chinese leaders will also discuss climate issues, although any statement is unlikely to break new ground on controlling carbon emissions, Vasselier said. The EU is going to the summit with the expectation 'that the Chinese will first understand our concerns, and second take concrete actions as soon as possible,' a senior EU official said last week. 'Otherwise, we will have to defend our own interests,' the official added. Write to Kim Mackrael at Laurence Norman at and Chun Han Wong at
Indian Express
16 minutes ago
- Indian Express
India's average tariff on British products will drop from 15% to 3%, says UK govt
Ahead of the India-UK trade deal signing ceremony on Thursday, the UK government said India's average tariff on British products will drop from 15 per cent to 3 per cent. This is expected to result in a nearly 60 per cent increase in UK exports to India in the long run, amounting to an additional $20 billion in exports. New Delhi, often criticised for being a high-tariff country — especially by US President Donald Trump — has started reducing tariffs for Western trading partners to improve economic integration and boost exports, particularly in labour-intensive sectors such as textiles and leather goods. 'A reduction in tariffs, combined with a reduction in regulatory barriers to trade between the UK and India, is estimated to increase UK exports to India by nearly 60 per cent in the long run — this is equivalent to an additional £15.7 billion of UK exports to India when applied to projections of future trade in 2040. It will also increase bilateral trade by nearly 39 per cent in the long run, equivalent to £25.5 billion a year, when compared to 2040 projected levels of trade in the absence of an agreement,' the UK government said in a statement. As many as 26 British companies have secured new business in India, the statement added. 'Airbus and Rolls-Royce will soon begin delivering Airbus aircraft — with over half powered by Rolls-Royce engines — to major Indian airlines as part of around £5 billion worth of contracts recently agreed,' it said. The UK already imports £11 billion worth of goods from India, but liberalised tariffs on Indian goods will make it easier and cheaper to buy Indian products. For businesses, this could mean potential savings when importing components and materials used in sectors such as advanced manufacturing or luxury and consumer goods. Meanwhile, India will benefit from tariff elimination on approximately 99 per cent of tariff lines, covering nearly 100 per cent of trade value — offering opportunities to boost bilateral trade between India and the UK, according to the Commerce and Industry Ministry. The pact includes chapters on goods, services, innovation, government procurement, and intellectual property rights. The two countries have also concluded negotiations on the Double Contribution Convention Agreement, or social security pact, which would help avoid double contributions to social security funds by Indian professionals working for a limited period in Britain. However, talks on the Bilateral Investment Treaty (BIT) are still ongoing. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
