Latest news with #E.U
The Hindu
07-07-2025
- Politics
- The Hindu
Macron due in U.K. for state visit as London tries to balance ties with Europe, U.S.
French President Emmanuel Macron and First Lady Brigitte Macron are due to arrive in London on Tuesday (July 8, 2025) for a state visit, hosted by Britain's monarch Charles III and the Queen, Camilla. This is the first European head of state to be hosted by King Charles on a state visit and an indication that the ties between London and Paris, which were under strain due to Britain's departure from the EU, have thawed. The King and Queen were last hosted by the Macrons in Paris in September 2023. While business is transacted during state visits, the ceremonial aspects and state dinner are instruments of the host country's soft power and used to bolster culture ties between the countries. The three-day visit will culminate in a summit level meeting led by Mr. Macron and U.K. Prime Minister Keir Starmer on Thursday (July 10, 2025). The visit comes at a time when the U.K. is trying to balance its ties with the EU and the U.S., as U.S. President Donald Trump has overseen a downgrading of ties between the U.S. and E.U. Also Read | United Kingdom's Starmer convenes 'coalition of the willing' for second meeting to discuss Ukraine Anglo-French security and defence ties, which are governed by the Lancaster House treaties of 2010, will be updated during the summit, as per a statement by French Foreign Minister Jean-Noël Barrot in France's National Assembly. Mr. Barrot cited London and Paris cooperating on Ukraine's defence (by leading a group of mostly European countries called the 'Coalition of the Willing'). He also mentioned the two countries coordinating responses on Iran along with Germany, which, according to him, paved the way for negotiations (i.e., the June 20 negotiations in Geneva). Mr. Barrot also highlighted cooperation on the crisis in Sudan. The visit will also see politically sensitive issues discussed — such as fishing and migration. The U.K. and the EU recently concluded an agreement allowing reciprocal access to fishing waters until 2038. Also Read | European leaders consult Trump, then agree joint response to Russian foot-dragging in truce talks On Tuesday (July 8, 2025), the French first couple will be welcomed on arrival by the Prince William and Catherine Middleton, the Prince and Princess of Wales before being taken to Windsor Castle, just outside London, where they will be hosted by the King and Queen. The visit will include a carriage ride through the town of Windsor and a State dinner. Mr Macron is scheduled to address the U.K. Parliament on Wednesday (July 9, 2025). Mr. Trump, who has expressed a fondness for the British Royal Family, has also been invited to the U.K. on a state visit, his second such visit, since 2019, when he was hosted by Queen Elizabeth. Mr. Trump's second visit is expected in September, though no dates have been announced.
Yahoo
23-05-2025
- Business
- Yahoo
Trump says talks with E.U. are 'going nowhere,' threatens 50% tariff in June
President Donald Trump on Friday threatened imports from the European Union with a sweeping 50% tariff, posting online that trade talks with the bloc are "going nowhere." In a post on his Truth Social platform, Trump wrote that he was "recommending a straight 50% Tariff on the European Union, starting on June 1, 2025." That rate would be higher than the 39% Trump promised to hit the bloc with on April 2's so-called Liberation Day. Just minutes earlier, Trump had also threatened Apple with a 25% tariff if it does not start producing iPhones in the United States — an outcome industry experts broadly see as a nonstarter. "The concept of Apple producing iPhones in the U.S. is a fairy tale," prominent tech analyst Dan Ives said in response to Trump's threat Friday. The early morning posts risked reigniting the trade war Trump started in April that had cooled down in recent weeks. His administration had been speaking positively about ongoing trade talks, even though it has so far secured few concrete economic wins. The president has backed down from some of his most severe tariffs, sparking a comeback for U.S. and global markets. That rebound looked poised to reverse after Trump's posts, with stock indexes in Germany, France and Italy each dropping nearly 3%. The Stoxx 600, which tracks hundreds of stocks across Europe, plunged more than 2%. Shares in the United Kingdom dropped more than 1%, even though it is not a member of the E.U. U.S. stocks opened sharply lower, with the S&P tumbling 1.3%, the Dow falling about 500 points, and the Nasdaq Composite plunging 1.7%. A number of companies with major U.S. and E.U. operations also saw their shares fall. Deutsche Bank shares plunged 4%, carmakers BMW and Stellantis, the maker of Jeep trucks, dropped 3.5%, and tech giant SAP fell 2%. Cosmetics firm L'Oreal also dropped more than 2%, and luxury goods conglomerate LVMH dropped 3%. Trump has repeatedly assailed the European Union, calling it 'in many ways, nastier than China." On tariff rates and what the U.S. calls "non-tariff barriers," Trump has said, "They'll come down a lot. You watch." But the bloc has refused to alter its value-added tax, a frequent point of contention for Commerce Secretary Howard Lutnick and other U.S. officials. Speaking on CNBC shortly after Trump's social media posts, Chicago Federal Reserve President Austan Goolsbee noted, "10% was going to be the highest tariff rate that we had on the world in 90 years. To go to 50% is a completely different order of magnitude." Goolsbee added that it would be "really scary for the supply chain" if businesses in his Midwest district, which includes auto hub Detroit, would see tariff rates as high as 50%. The E.U. bloc is America's second-biggest trading partner behind China. The United States exported more than $350 billion of goods to the 27-nation bloc in recent years and imported $550 billion worth of goods. Maros Šefčovič, the European Commission's trade chief, is set to speak by phone with U.S. Trade Representative Jamieson Greer on Friday morning, just hours after Trump's post. The E.U. has been bracing itself for months for the possibility that trade talks with the U.S. would fail. In early May, Šefčovič said the bloc preferred negotiations, "but not at any cost. We therefore continue to prepare for every scenario." The following day, the E.U. announced more than $100 billion worth of possible retaliatory tariffs on U.S. goods. "With the exception of the E.U., most [countries] are negotiating in very good faith," Treasury Secretary Scott Bessent said Friday morning on Fox News. "I would hope that this would light a fire under the E.U." In 2024, pharmaceutical products were the E.U.'s top export to the U.S., with more than $90 billion crossing the Atlantic, followed by more than $45 billion of vehicles and automotive products. The U.S. also imported more than $300 billion of E.U. services. Telecom, information technology and scientific services were the top imports. This article was originally published on
Calgary Herald
01-05-2025
- Politics
- Calgary Herald
Braid: UCP stokes a separatist frenzy with new referendum rules. It's a dangerous game
Article content Premier Danielle Smith has touched off a strange separatism surge with her changes to referendum rules. Article content Article content Separatists demonstrated outside the legislature Thursday, even as Smith defended the changes that make a vote far easier to trigger. Article content Article content Article content 'And making it easier . . .' Article content This almost guarantees a separatism campaign and a province-wide vote. Article content The whole idea sounds unrealistic, loony, just plain impossible. Landlocked Alberta, a country? Article content Go ahead and laugh, a wise colleague says — but be careful. Article content Shocking things happen regularly in this disordered world. A separatist vote in Alberta would register as a minor tremor. Article content Economic experts said Brexit was impossible. They trotted out piles of evidence about ruinous damage if the United Kingdom left the European Union. Article content Article content Article content And yet, it passed on June 23, 2016. Article content The vote wasn't binding but Cameron had vowed to respect the result. On Jan. 21, 2020, the rupture took effect. Article content The economic predictions came true. Today, 60 per cent of Britons would vote to rejoin the E.U. Article content Canadian polls show that up to 30 per cent of Albertans would vote for separation with the Liberals in power again. Article content Common sense says that with a real proposal before them, many of those folks would stick with Canada. Article content But common sense fled England, even dragging along Scotland, which voted heavily against Brexit. Article content
Forbes
19-04-2025
- Business
- Forbes
Russia Business: Fool's Gold
A return to normal with Russia, if it is even possible, will not provide the economic opportunity to ... More the United States to make it worthwhile. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) President Donald J. Trump's efforts to attain peace between Russia and Ukraine have already prompted questions about the future of Russian energy exports, the country's main cash cow, and whether the door will open to joint projects between Russia and the E.U or the U.S. Whatever progress is made in any negotiations, will be difficult if not impossible to go back to pre-2022 arrangements. Doing so isn't necessarily in the E.U.'s or America's strategic or economic interests. As the Russian war against Ukraine grinds on, much to the frustration of President Trump, a quick look down the road at the prospects for the Russian economy indicates potential trouble ahead. Earlier this month, Senators Lindsay Graham (R-South Carolina) and Richard Blumenthal (D-Connecticut) led a bipartisan group of 50 U.S. senators in introducing a bill that may help increase the pressure on Russian President Vladimir Putin to focus on getting the war over with. The bill would impose stiff primary and secondary sanctions on the sale of Russian oil and energy products if a ceasefire agreement is not reached, or if Russia breaches an agreed-upon deal. Next, oil prices dived in the wake of President Trump's 'Liberation Day' tariff announcements as the markets prepare for a recession. Though they are recovering now that Washington has opened a window for negotiations with everyone except China, oil producers—including Russia—are still nervous about the long-term prospects. These days, a combined threat that tariffs and a potential recession can lower per-barrel prices long-term causes resistance by U.S.-based firms to calls from Washington for 'drill, baby drill'. This gives Russia's economy hope, albeit rather faint hope. On the other hand, the fact that Moscow pivoted heavily to trading with Asia to keep the Russian economy afloat as Western sanctions began to bite also means that there is particular vulnerability to moves on the part of the U.S. that negatively affect China. While Trump wants to improve relations with Putin, many in Washington are skeptical about it. Just recently, a difference of opinions and outlooks among senior advisors in the Trump Administration has gone very public. At issue is how Washington should handle Moscow in the interests of attaining peace, or at least a durable ceasefire, to end the war in Ukraine. The story was first broken by the Wall Street Journal, and then quickly picked up by a variety of news outlets. One outcome appears to be that the Europeans and the U.S. are now talking together about what Secretary of State Marco Rubio and others term a 'secure real, practical solutions to end the Russia-Ukraine war' when initially it appeared that trying to end the ongoing conflict could drive a wedge between the U.S. and its historic allies. Meanwhile, the Russian economy is and has been on a war footing. The war is driving a shortage in available workers, concentrating growth (and subsidies) in the military industrial sectors, and contributing to inflation. While the future is uncertain, economics alone will clearly not force Putin's hand into signing for peace, at least not yet. However, it does seem that allowing things to drag on too long may result in a deterioration of his country's position. Likely, this is why recent reports indicate that a spring offensive by Moscow is underway – Putin's strategy may be to get whatever he can quickly, and then go for a peace deal with enough territorial gains to call it a victory. Russian state hydrocarbon giant Gazprom's $11-billion Nord Stream 2 pipeline project to transit the Baltic Sea refuses to die. It has been a magnet for controversy, but the anticipation of peace in Ukraine has sparked discussions regarding a restart of its gas flow. Early in March, reports emerged that Moscow had enlisted Vladimir Putin's longtime ally Matthias Warnig, Vice-chairman of the Board of Rosneft, to lobby the Trump team to revive the pipeline in the event of a post-sanctions deal through which the United States would regulate the tap. But Europe doesn't want a resumption, and the U.S. shouldn't either. Europe is wary of sleepwalking back into the trap of reliance on Russian energy resources that caused an energy crisis at the outset of the 2022 invasion and mounting speculation that Europe might reopen its taps has sparked pushback from key European voices. Europe's standoff with Russia created a massive opportunity for the U.S., facilitating a surge in American LNG exports to Europe and elevating the geopolitical utility of American energy. Reintroducing Russian gas to Europe will only come at the expense of the U.S.'s European market share –and this at a time when President Trump has just told Brussels that the price of a mutual zero tariff policy will be that the E.U. buys $350-billion worth of energy 'Made in the U.S.A.' American oilfield services company Oliver Hughes said that it would 'evaluate the commercial environment for a return' when sanctions are lifted, but the lowest hanging fruit in Nord Stream 2 hurts American interests, and much of Europe is actively seeking to reduce reliance on Russian gas. Though American leadership may seek a first-mover advantage in Russia's energy industry following a potential peace deal in Ukraine, it is worth considering how much of a benefit it can truly grant. Between eating into America's growing market share in Europe, boosting Russia's economic position, rushing to remove sanctions and cooperate with Russia could work to the detriment of the United States. Historically, Arctic energy projects have posed significant economic and logistical challenges due to the region's harsh geographical conditions. While receding ice levels have alleviated some of these difficulties, Russia's Arctic operations have a new thorn in their side: sanctions. Russia's arctic exploitation efforts have been impeded by European sanctions, as they have impacted ... More the costs to upkeep necessary equipment like icebreaker ships. (Photo by OLGA MALTSEVA / AFP) (Photo by OLGA MALTSEVA/AFP via Getty Images) Sanctions packages have had major implications for many of Gazprom's long-term offshore exploration projects and two of Russia's flagship projects in the region: Rosneft's Vostok Oil, which had its commissioning delayed until 2026 due to a sanctions-induced shortage of ice-capable tankers and Novatek's Arctic LNG 2, which was put on hold from 2026 until 2028 after losing access to vital equipment. February discussions between Russia and the U.S. in Riyadh hinted at potential cooperation between the two in the Arctic, but offshore exploration in the region is still prohibitively expensive, technologically challenging, and long-term, according to global energy research firm Wood Mackenzie. Kiril Dmitriev, General Director of Russia's Sovereign Wealth Fund, views the Arctic as a core piece of potential rapprochement between the United States and Russia, arguing that the increasingly important geopolitical region is 'too important for Cold War-style politics.' But American investors must consider whether the Kremlin is only dangling these projects as an incentive to get the U.S. to release the sanctions which are impeding Russia's ambitions. The potential revival of business ties between the U.S. and Russia has also been extended into the nuclear sphere, with Dmitriev directly addressing Elon Musk, a key figure in the second Trump Administration, floating the idea of a small-sized nuclear power plant for Mars exploration. Nuclear energy has emerged as a priority under the Trump administration, and this recent development, along with Trump's interest in Ukraine's Zaporizhzhia Nuclear Power Plant, has expanded energy cooperation speculations. Russia is one of world's most advanced producers of nuclear technology and energy, and is taking advantage of this core competence to expand its own nuclear power stations export capacity. Russian state-owned Rosatom is under contract to build 40 international installations, in addition to its ongoing domestic Kursk II, Leningrad II, and Brest-OD-300 nuclear fuel facility projects. The U.S. is eager to unleash its own nuclear energy capabilities, and currently imports nearly all the enriched uranium it uses and work is underway to build out domestic manufacturing capabilities. Although imports of Russian uranium products were specifically banned in August 2024, companies can apply for waivers through January 2028. In this field, cooperation offers more mutual benefits than some of the other potential hydrocarbon energy projects. Regardless of the political advantages of rapprochement, it remains uncertain whether Western businesses will be eager to flock back to Russia, as companies weigh the new risks of operating in a much-changed business environment of the late Putin's authoritarian system. Much like the difficulties accompanying strategic mineral development in Russia, joint energy cooperation between the U.S. and Russia requires high up-front costs with long-dated production, exacerbated by the risks of asset seizures and corruption. Today, any compliance-conscious corporate board would nix a high-CAPEX Russia project. Some may dream of US-Russian rapprochement turning them into the next Armand Hammer, the legendary CEO of Occidental Petroleum who did business in the USSR from Lenin to Brezhnev, but most business leaders correctly view Russia's business prospects as fool's gold.
New York Times
17-04-2025
- Business
- New York Times
A Judge Ruled That Google Acted Illegally to Dominate Ad Tech
Google could be forced to significantly restructure its operations after a federal judge in Virginia ruled today that the company had illegally maintained a monopoly over lucrative technology that delivers online ads. The Justice Department and several states had sued Google, arguing that the search giant had used its size and influence to lock out competitors and charge higher prices. Today, the judge sided with the government on two of its three accusations against Google, ruling that it held a monopoly on tools used by publishers to host ad space and on the software used to facilitate online-ad transactions. Next, the Trump administration will assess the ruling to determine whether to push Google, a $1.88 trillion company, to break apart its ad tech business. The tech giant has currently an 87 percent market share in ad-selling technology, according to the government. It is the second time in a year that a U.S. court has found Google to have illegally maintained a monopoly. A judge in Washington, D.C., is now considering a request by the Justice Department to break the company up because of its dominance in online search. For more: The cases against Google are part of a growing push by regulators to rein in the power of the biggest tech companies. Trump promised to make a tariff deal with the E.U. During a White House meeting today with Italy's prime minister, Giorgia Meloni, President Trump said he was '100 percent' confident that the U.S. would strike a trade deal with the E.U. before the end of his 90-day pause on some tariffs. Trump also said today that he expected to make a trade deal with China, though it was not clear that any progress had been made. Just yesterday, Japan's delegation left the White House without a deal. During the meeting with Meloni, the president also doubled down on his criticism of the Fed chair, Jerome Powell. Trump accused Powell of 'playing politics' and chastised him for not lowering interest rates. 'Powell's termination cannot come fast enough,' Trump said this morning — though legal experts suggested he probably did not have the authority to fire him. In other politics news: At least two people were killed in a shooting at Florida State A 20-year-old student opened fire today on Florida State University's campus, killing two people and injuring at least six others, the authorities said. Officials identified the attacker as the son of a local sheriff's deputy. Police said they shot the gunman after he failed to obey officers' commands. He was later taken into custody. Here's the latest. A handgun that was used in the shooting was the former service weapon of the gunman's mother, who was allowed to keep it for personal use, the authorities said. A daily pill may work as well as Ozempic The drugmaker Eli Lilly announced today that it had developed a daily pill that in clinical trials appeared to be as effective in aiding weight loss as blockbuster injectable drugs like Ozempic. If the pill and others like it prove to be reliable, they have the potential to become far more widely used than the injectables. Eli Lilly said it would seek approval from the F.D.A. to market the pill as a treatment for obesity later this year and for diabetes early in 2026. More top news What's old is new at Bridal Fashion Week Wedding dress designers have long turned to old trends for inspiration. That was certainly the case this month at New York Bridal Fashion Week. Heirloom-like dresses with raw edges, pin tucks and puff sleeves were in the spotlight, along with '80s-style bubble hemlines and 18th-century-inspired voluminous gowns. Check out the dresses. For more: Rihanna announced a new bridal collection from her lingerie company, causing fans to speculate about her engagement status. A wealthy town's capybara problem In the posh suburbs of Buenos Aires, hundreds of capybaras walk around like they own the place. They cross the roads, lay down near the tennis courts and munch on the manicured lawns. Without any predators, their population is quickly rising. In order to preserve the neighborhoods, the local government decided to sterilize the capybaras with drug-laced blow darts. Not everyone is happy. 'I believe their adorableness is a strategy of the species itself to survive,' said one resident. 'Their lovability has conquered us, and we're fighting for them.' Dinner table topics Cook: This Princess Cake makes for a spectacular Easter centerpiece. Watch: 'Sinners' is a genre-defying, mind-bending fantasia, our reviewer writes. Read: 'Midnight in Soap Lake' is one of the best new murder mysteries worth checking out. Plan: Our Frugal Travel columnist has advice for visiting London without breaking the bank. Style: Puddle pants are everywhere. Here's how to wear them without getting dirty. Try: Magnolias are in bloom. It's time to eat them. Hunt: Which Hudson Valley home would you buy with a $600,000 budget? Play: Here are today's Spelling Bee, Wordle and Mini Crossword. Find all of our games here. Embrace little luxuries When life is stressful, tiny morsels of joy can make a big difference. Perhaps the novelist Iris Murdoch said it best: 'One of the secrets of a happy life is continuous small treats, and if some of these can be inexpensive and quickly procured so much the better.' For some inspiration, we asked 21 prominent people in high-pressure arts jobs to share their version of a small treat. One 'Saturday Night Live' writer turns to online chess. A ballet dancer goes to the Russian baths. And Sophie Buddle, a stand-up comedian, turns off her alarm: 'Letting myself sleep is my biggest luxury,' she said. Have a comforting evening. Thanks for reading. I'll be back tomorrow. — Matthew Sean Kawasaki-Culligan was our photo editor. We welcome your feedback. Write to us at evening@
