Germany's Red Tape Creates a Berlin-Sized Hole in Energy Shift
Located a short drive from the French and Swiss borders, Tübingen is far from any conflict zones, and yet German rules that reserve airspace for military use have meant the city of 90,000 had to cancel construction of three wind turbines. The site was carefully selected on the outskirts, with minimal disruption to nature and had the potential to provide electricity for 10,000 people .
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Netanyahu's ICC lawyer denounces Hezbollah assassination plot against him in France
French authorities opened an investigation following suspicions of a plot to assassinate French lawyer Olivier Pardo, who represents Netanyahu at the ICC. French authorities opened an investigation following suspicions of a plot to assassinate French lawyer Olivier Pardo, who represents Prime Minister Benjamin Netanyahu at the International Criminal Court, Le Parisien reported on Monday. The investigation started after Pardo told the authorities about a meeting he had with 47-year-old Ruddy Terranova, a former convict who had spent 14 years in prison for criminal activities and later adopted radical Islam, who told him about the plot. According to Terranova, Hezbollah operatives approached him while he was in Senegal and asked him to take out Pardo when he turned back to France. He rejected the proposition and arranged the meeting to warn the lawyer about the plot. The report also highlighted that Terranova warned Pardo that the reason behind the Hezbollah assassination plot was the fact that he was representing Netanyahu at the ICC, and that there was a real possibility that someone else would try to assassinate him. After the meeting, which lasted around an hour and a half, Pardo reported the incident to the French Police, who opened an investigation and estimated that the plot was most likely real. Hezbollah plans to assassinate Netanyahu's lawyer The report cites three reasons for the veracity of the plot: Terranova's complex background, the fact that he didn't threaten or demand any compensation for the information, and the similarity it would have with other cases centered around the Lebanese terrorist organization. Terranova was also arrested for questioning, while an official legal investigation was opened under the supervision of an investigating judge and the Anti-Terrorism Unit, with the aim of identifying possible masterminds if they exist. Pardo, who has had high-level clients before, is facing an assassination plot for the first time. 'I understand that it is part of the job,' he told the French paper.
CNN
37 minutes ago
- CNN
Trump's trade war victory is already under siege
The economy was supposed to crumble. The trade war was expected to escalate out of control. Markets were forecast to plunge. None of that happened – at least, not yet. President Donald Trump has pulled off what few outside the White House predicted: A trade war victory of sorts that sets America's taxes on imported goods higher than the infamous Smoot-Hawley era, without any of the damaging fallout so far. Customs revenue has increased sharply while inflation remains reasonably low. And America's trading partners, for the most part, have been willing to accept the higher tariffs without significant retaliation. Multiple framework agreements between the United States and other trading partners have jacked up tariffs on foreign goods imported to America while setting levies on US exports at or near zero. Overseas trading partners have agreed to open previously closed markets to some US goods, pledged increased investments in the United States and dropped some of what the Trump administration has lambasted as non-trade barriers, like taxes on digital services. But Trump's early trade victory may be short-lived. In fact, it is already showing signs that it may not last. The European Union, fresh off its 11th-hour compromise to get a trade agreement done before Trump's self-imposed August 1 deadline, is already in revolt. French Prime Minister François Bayrou called Sunday a 'dark day.' Hungarian Prime Minister and Trump ally Viktor Orban said Trump steamrolled the EU. Belgium's Prime Minister Bart De Wever lambasted the Trump administration's 'delusion of protectionism.' And Bernd Lange, chair of the European Parliament's trade committee, said the deal is 'not satisfactory.' The 27-member bloc has to hammer out key aspects of its framework, and the fragile trade truce between two of the world's largest economies could quickly break apart if sentiment turns against the arrangement. The Trump administration's trade talks with its northern neighbor and one of its largest trading partners have been effectively shut down. Despite Canada relenting on its digital services tax that the president has lambasted, Trump continued to threaten higher tariffs on some Canadian goods, including lumber. Although many goods imported from Canada continue to be tariff-free because of the US-Mexico-Canada free trade agreement, the USMCA only covers just about half of Canadian goods. So higher tariffs on Canada could raise some costs for American consumers down the road. And the fact that America is even embroiled in a trade spat with Canada in the first place is a sign that the recent cooling off in the trade war may not last: Trump negotiated and signed the United States' current trade agreement with Canada during his first term. At any time, even after an agreement is inked, Trump could turn around and decide to raise tariffs again. A third round of talks between China and the United States' trade negotiators is expected to result in a continued pause of their historically high tariffs on one another. But it's unclear what else might come from the discussions, and the Trump administration has grown frustrated by what it has described as China's slow-walking of its previous agreements. Both sides have aimed to reduce more regulatory barriers on shipments of key technologies. China has sought more access to critical semiconductors, and the United States wants the flow of rare earth magnets to increase further. But the Trump administration has tried repeatedly to speed up China's slow progress, claiming the country has failed to live up to its agreement to approve the critical materials for crucial electronics. Trump has also said he wants China to open up its market to more US goods – a desire that Chinese Premier Xi Jinping is unlikely to give in to significantly. Trump's rhetoric against China has cooled in recent months, but the truce appears to be on a knife's edge. A crucial appeals court hearing Thursday could determine whether most of Trump's tariffs are legal at all. For most of his tariffs, Trump has cited powers listed in the International Emergency Economic Powers Act. But a federal court in May ruled that Trump overstepped his authority to levy tariffs on that basis. An appeals court paused that ruling from taking effect and will hear oral arguments Thursday. It's not clear when the court will rule, and the White House would likely appeal to the Supreme Court if it loses. If Trump ultimately loses his ability to levy tariffs using emergency powers, he has plenty of other options – but legal experts have said those alternatives could limit his ability to set tariffs without Congress. For example, Trump may be able to impose some tariffs as high as just 15% but only for 150 days, potentially taking some of the bite out of his tariff regime. Although the US economy remains strong, with rebounding retail sales, a still-robust labor market and rising consumer confidence, there is some evidence that inflation in key areas is starting to creep higher – slowly – because of tariffs. That's a potential warning sign as the tariffs take full effect. The Bureau of Labor Statistics' Consumer Price Index earlier this month showed that some tariff-affected goods have started to gain in price. Clothing, appliances, computers, sporting goods, toys, video equipment, hardware and tools prices have been on the rise. And it's starting to become a trend – in many of those categories, the rise has been happening for a few months. Many major retailers, including Walmart, have said they will raise prices because of tariffs. And GM, Volkswagen and Stellantis all reported tariff charges of $1 billion or more over the past quarter. Economists widely expect inflation to pick up in the late summer and throughout the rest of the year as retailers work through the inventories of goods they had stockpiled before tariffs went into effect. No one expects anything close to the inflation crisis of a few years ago. But with consumers still dealing with price-hike PTSD, that won't be a welcome change from the return to healthy inflation levels over the past year.
Yahoo
an hour ago
- Yahoo
Trump's trade deal with the EU: What it means for your wallet
Imported cars, pharmaceuticals, apparel and more could grow more expensive in the months to come as the United States imposes a 15% tariff on most imports from the European Union. Analysts have labeled the agreement, announced July 27, as a win for President Donald Trump, whose administration had been working to complete deals by a self-imposed Aug. 1 deadline. U.S. stocks opened mostly higher on July 28, with the S&P 500 and Nasdaq reaching record highs after Trump announced a tariff far below the 30% rate threatened earlier in the month. But for U.S. consumers, even the reduced tariff is expected to spur higher prices. The Yale Budget Lab estimates that Trump's tariffs, including the new rate for EU imports, would raise prices by 1.8% in the short run, the equivalent of an average household income loss of roughly $2,400. While the increase may sound insignificant, 'the Federal Reserve's inflation target is 2%. So we're talking about almost a year's worth of inflation above and beyond the inflation that we would've gotten anyways,' said Ernie Tedeschi, director of economics at the Yale Budget Lab. 'So that's meaningful.' Here are some of the sectors that could see higher prices in the months to come. European cars Automobiles, one of the EU's largest export sectors, will likely see some of the most noticeable price hikes, according to Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics. While the 15% tariff is a relief from the current 27.5% rate, Hufbauer said the auto industry's margins are thin enough that EU companies won't want to absorb the higher cost. 'I suspect European auto prices sold in the U.S. will go up probably at least 10%,' he told USA TODAY. German Association of the Automotive Industry President Hildegard Müller warned the 15% tariff could cost the German automotive industry 'billions annually.' Already, Volkswagen has trimmed its full-year sales forecast after reporting a $1.5 billion hit from tariffs over the first half of the year. Automobile price hikes will likely vary across European makes and models, according to Tedeschi, since many already operate factories in North America. That means trade deals with Canada and Mexico could also influence pricing. 'Consumers should keep an eye out for rising prices for European car imports, but they should not assume that all European brands are going to go up in price because of how complicated the supply chain is,' he said, adding that he expects to see price increases tied to the new EU tariffs play out this summer and fall. What were the EU tariffs before? What to know after trade deal Furniture Furniture is another sector that could get hit by tariffs, according to Stephen Brown, Capital Economics' deputy chief North America economist. The Swedish company IKEA, for instance, relies on China, Poland, Italy, Germany and Sweden to supply 'the majority' of products, according to its website. The company did not immediately respond to a request for comment, but Inter IKEA ‒ which produces IKEA furniture ‒ told Reuters in November that just 10% of the products it sells in the U.S. are made in the region. 'Unless they find somewhere else to import from or move around their supply chain, furniture prices ... could see some effects,' Brown said. Pharmaceuticals While certain sectors like wine and spirits appear to still be under negotiation, EU Commission President Ursula von der Leyen said pharmaceuticals will be covered by the 15% tariff, with certain generic drugs not subject to tariffs. The EU is behind about 60% of pharmaceutical imports to the U.S., according to Reuters, making them the largest European export to the U.S. by value. But Brown noted that pharmaceutical companies may be able to more easily shift production to the U.S. compared to other industries. For instance, the Danish manufacturer behind the GLP-1s Wegovy and Ozempic, Novo Nordisk, already has a presence in North Carolina and has plans to expand. 'Although there could be some short-term price increases, those might not be as durable as they are for other products,' Brown said. Additionally, consumers may not pick up on the industry's price hikes if their insurance covers the imported drug. Luxury items Luxury items like imported designer handbags and apparel could also see higher prices, as well as imported food. 'The difference between China and Europe, in terms of tariffs, is that the tariffs on China increase what people buy in Walmart and Target. The tariffs on European imports will mainly hit what people buy at Whole Foods and high-end retail stores,' said Hufbauer of the Peterson Institute for International Economics. He noted that the companies behind luxury goods tend to have higher margins, though, and may be more willing to absorb some of the higher costs tied to tariffs. Machinery Machinery and appliances are also major exports from the EU, accounting for roughly 20% of U.S. imports from the EU in 2021, according to the Commerce Department. While consumers won't buy machinery directly, experts warn the higher prices could eventually trickle down as manufacturers adjust to higher costs. 'These are not necessarily products that immediately or directly impact the consumers, but they can indirectly affect consumers, especially after many years,' Tedeschi said. This article originally appeared on USA TODAY: What Trump's EU trade deal means for your wallet
