Latest news with #EUAsiaRelations
Bloomberg
4 days ago
- Business
- Bloomberg
Europe's Top Envoy Pitches for Deeper Philippine Defense Ties
Europe and the Philippines will set up a new 'security and defense dialogue,' officials said, in a move that comes as the European Union strengthens ties with Asian nations amid threats from China and Russia. 'This will be a dedicated platform through which we can deepen our cooperation, exchange expertise on security and defense and explore joint initiatives that contribute to the regional as well as global security,' Europe's top diplomat Kaja Kallas said Monday during a briefing with Foreign Affairs Secretary Enrique Manalo in Manila.
Free Malaysia Today
08-05-2025
- Business
- Free Malaysia Today
EU trade chief says accelerating free trade talks with Asia
EU trade commissioner Maros Sefcovic said that the EU is steering clear of relying on a single approach amid today's geopolitical shifts. (EPA Images pic) SINGAPORE : The EU is accelerating free trade talks with Asia following hefty tariffs by US President Donald Trump, the bloc's trade chief said Wednesday. Trump has slapped a series of higher tariffs on Europe since March and in his biggest move, he imposed a 20% tariff on a majority of EU goods last month – before announcing a 90-day pause that is due to expire in July. Negotiations with Washington are a priority but such talks will not come 'at any cost', EU trade commissioner Maros Sefcovic told reporters in Singapore. 'I would like to underscore that in today's geopolitical context, we are making sure that the EU is not putting all its eggs in one basket,' he said. 'Bilaterally, we are accelerating the negotiations with Indonesia, the Philippines, Thailand and Malaysia,' he said. All four countries are key members of the 10-member Association of Southeast Asian Nations (Asean), a region of more than 650 million people. 'And we are also stepping up engagement with India. We just had another round of negotiations just last week,' said Sefcovic. He was speaking in Singapore after signing a digital trade agreement between the EU and the city-state on Wednesday. 'Our goal here is also very clear: to keep signing agreements and remain a reliable, trusted and predictable partner in a rapidly shifting global landscape,' he said. The commissioner said the EU is also looking at 'potential enhanced cooperation' with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The EU has a surplus of €154 billion against the US in goods trade, but is in deficit for €104 billion in services, Sefcovic said, citing data from the European Statistics Office. This leaves the EU with a surplus of €50 billion, which can be rebalanced by buying more liquefied natural gas, soya beans and high-end computer chips from the US, Sefcovic said. Trump has said the deficit is several hundred billion dollars a year. There is currently a 'baseline' levy of 10% on goods from the 27-country EU and other nations around the world. Negotiators are now seeking to avoid a full trade war if the higher tariffs come into force in July. The EU will also be looking for signs of 'de-escalation' when US and Chinese officials meet in Switzerland for tariff talks this weekend, the commissioner said. Trump has imposed tariffs totalling 145% on goods from China. Beijing has retaliated with 125% levies on imports from the US.
