Latest news with #EuropeanFreeTradeAssociation
Yahoo
6 days ago
- Automotive
- Yahoo
Tesla sales plunge in Europe, with no sign of boost from new model
STORY: Tesla's sales in Europe fell 49% in April from a year earlier, even as overall battery-electric sales rose almost 28%. The U.S. EV maker's upgrade of its Model Y is showing little sign of improving the brand's tarnished image in the region. Its sales dropped for a fourth month in a row and its share of the total market nearly halved to 0.7% from 1.3% a year ago. The firm's flagging sales in Europe reflect a shift away from the brand. That's as Chinese competition strengthens and some protest against boss Elon Musk's political views. Total car sales in Europe remained roughly consistent with last year, falling just 0.3%. The strongest sales growth came from electric and plug-in hybrid cars. European carmakers are trying to cut domestic costs and tackle competition amid U.S. tariffs on auto imports and a slowing global economy. Uncertainty also continues to overshadow the industry's outlook despite eased U.S.-China trade tensions. April sales in the EU, Britain and the European Free Trade Association fell to 1.07 million cars, following 2.8% growth a month before. In big movers, registrations at Chinese state-owned automaker SAIC Motor and Mitsubishi grew by over 24% and 22% respectively, while they fell by 24.5% at Mazda.
Indian Express
22-05-2025
- Business
- Indian Express
GTRI's Ajay Srivastava is guest at Explained.Live event today
India could be just weeks away from signing a trade deal with the US — having already concluded talks with the UK and the European Free Trade Association (EFTA), and moving closer to finalising negotiations with the European Union (EU) — as it strengthens its economic integration with services-dominated Western economies. Under US President Donald Trump's tariffs threats, these negotiations have gained momentum five years after India withdrew from talks on the China-led Regional Comprehensive Economic Partnership (RCEP), a trade agreement that has improved manufacturing partnership among ASEAN countries such as Vietnam and Indonesia with China. To make sense of the rapidly changing contours of trade negotiations, former trade negotiator and head of the think tank Global Trade Research Institute (GTRI), Ajay Srivastava, will be the guest for the session at 6 pm. Srivastava has decades of negotiating experience and has handled complex talks with countries ranging from Japan and Australia to the EU, the US, and ASEAN member countries. He will be in conversation with Ravi Dutta Mishra, Principal Correspondent, The Indian Express. India's strategy to integrate more deeply with the developed world is also facing unpredictability. Trump's aggressive trade stance has not only reshaped global trade dynamics but is also influencing India's domestic policy, creating fresh pressure to open traditionally protected sectors and to reform intellectual property laws in favour of American corporations. Simultaneously, tensions are intensifying closer to home. China's growing influence in South Asia — supported by infrastructure investments and trade incentives — adds another layer of complexity. Trade relations with Bangladesh have grown strained in recent months, as Dhaka pivots towards closer economic ties with Beijing. Renewed friction with Pakistan and its use of Chinese jets against India suggests that Islamabad's trade and strategic proximity to China is deepening.
The National
22-05-2025
- Business
- The National
I agree with Tom Hunter that indy Scotland should emulate Singapore
That mega-successful city-state, founded in 1819 by Sir Stamford Raffles, had free trade at its core, at a time when economists like Adam Smith had refuted the mercantilist nonsense of tariffs, and the idea of free trade as our natural right had not been crushed, post-World War One, by the dogma that only the state could grant rights. READ MORE: Everything you need to know about Saturday's far-right counter-protests in Scotland Of the larger pro-indy parties, Alba seems to be on the right track, rejecting the EU's incorrigible protectionism and focusing on the European Free Trade Association. As the Trump tariff fiasco has highlighted, protectionism hurts consumers most. Only exporters benefit from it, with their powerful lobbies constantly urging governments to grant them privileges. The greatest ever send-up of this was Frederic Bastiat's spoof petition by candle-makers to France's Chamber of Deputies, urging them to stymie that intolerable competitor: the sun! George Morton Rosyth
Economic Times
12-05-2025
- Business
- Economic Times
India has not accepted 'data exclusivity' demand by UK to protect generic drug firms
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has not accepted the demand of the UK for inclusion of a 'data exclusivity' provision in the free trade agreement , announced on May 6, in a bid to protect the interests of the domestic generic drugs industry, an official said. During the negotiations, the UK had asked to include this provision in the trade pact."But India has not accepted that. There is no fear for the Indian generic industry from this agreement. In fact, it is our very important objective to see that the generic drug industry flourishes," the official sector plays a key role in India's exports, which are also exclusivity provides protection to the technical data generated by innovator companies to prove the usefulness of their products. In the pharmaceutical sector drug companies generate data through expensive global clinical trials to prove the efficacy and safety of their new gaining exclusive rights over this data, innovator companies can prevent their competitors from obtaining a marketing licence for low-cost versions during the tenure of this India had also rejected a similar demand from the four-nation EFTA bloc in their free trade agreement negotiations. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The pact was signed in March 2023 and will be implemented later this UK ( AstraZeneca and GSK ) and Switzerland ( Novartis and Roche) have some of the major pharma firms of the generic drug industry is estimated at about USD 25 billion, and the country exports 50 per cent of its expert said that data exclusivity is beyond the provisions of the Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement under the WTO (World Trade Organization).India and the UK on May 6 announced the conclusion of the free trade agreement, which will make British Scotch whiskey and cars cheaper in India, while reducing duties on Indian imports such as garments and leather products here.
New Indian Express
12-05-2025
- Business
- New Indian Express
India hasn't accepted UK 'data exclusivity' demand in FTA to protect generic drug firms
CHENNAI: India has declined the United Kingdom's request to include a 'data exclusivity' clause in the Free Trade Agreement (FTA) announced on May 6, in order to protect the interests of its domestic generic drug industry, a Commerce ministry official confirmed. During the FTA negotiations, the UK proposed adding a provision that would grant exclusive rights over clinical trial data to innovator pharmaceutical companies. However, Indian officials did not agree to this request. 'There is no threat to the Indian generic drug industry from this agreement. In fact, ensuring the growth of the generic sector is one of our key priorities,' sources in the Commerce Ministry were quoted as saying by news agencies. India's generic pharmaceutical sector plays a significant role in the country's exports, which continue to grow. The industry is valued at around USD 25 billion, with nearly 50% of its output being exported. What is Data Exclusivity Data exclusivity protects the clinical trial data that innovator companies generate to prove the safety and effectiveness of new drugs. This protection can prevent competitors from using the same data to gain marketing approval for cheaper generic versions during the exclusivity period. By securing exclusive rights to their data, original drug makers can delay the entry of low-cost alternatives into the market. India had earlier rejected a similar demand from the four-member European Free Trade Association (EFTA)—comprising Iceland, Liechtenstein, Norway, and Switzerland—during FTA talks concluded in March 2023. That agreement is expected to come into force later this year. Some of the world's leading pharmaceutical companies, such as AstraZeneca and GSK (UK), and Novartis and Roche (Switzerland), are based in these countries. An expert noted that the concept of data exclusivity goes beyond the scope of the WTO's Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, which India adheres to. The India–UK FTA, announced on May 6, includes mutual benefits: British Scotch whisky and cars will become cheaper in India, while tariffs on Indian exports like garments and leather goods to the UK will be reduced.
