Latest news with #MichalBaranowski
Observer
2 days ago
- Business
- Observer
EU gives final approval to Russian fertiliser tariffs
BRUSSELS: EU countries on Thursday gave final approval to new tariffs on fertiliser imports from Russia, a move aimed at throttling Moscow's war effort in Ukraine that has upset some European farmers. Justice ministers from the bloc's 27 nations signed off on the measure, which also puts a levy on additional farm products, during a meeting in Luxembourg. "These measures increase our economic security by reducing dependencies from Russia," said Michal Baranowski, undersecretary of state for trade for Poland, which holds the EU's rotating presidency. "We are further reducing Russia's export revenues and therefore its ability to finance its brutal war. This is united Europe at its best." The regulation will enter into force next month and also covers Russia's ally Belarus. It targets nitrogen-based fertilisers, as well as all farm goods that had not yet been affected by sweeping tariffs that came into force last year. The levies it imposes will increase gradually up to a point where they would make imports unviable in 2028. European farmer groups had opposed action on fertilisers fearing an increase in prices, with Russia still a major supplier. — AFP
Yahoo
2 days ago
- Business
- Yahoo
EU approves new tariffs on Russian, Belarusian agricultural goods
The Council of the EU on June 12 approved fresh tariffs on fertilizers and remaining agricultural goods from Russia and Belarus, aiming to reduce Russian export revenues. The measures target those goods that have not yet been subject to additional customs duties and will enter into force on July 1. The tariffs on fertilizers will increase gradually over the next three years. The step comes as the EU readies additional sanctions against Russia as it continues to wage its all-out war against Ukraine. "Polish Presidency motto is 'Security, Europe!' and these measures increase our economic security by reducing dependencies from Russia," said Michal Baranowski, the trade undersecretary at the Polish Economy Ministry. "We are further reducing Russia's export revenues and therefore its ability to finance its brutal war. This is united Europe at its best," he said in a statement. The new tariffs will apply to goods that made up around 15% of all agricultural imports from Russia in 2023. Fertilizer tariffs will focus on certain nitrogen-based products, the Council said in a statement. Russian fertilizers accounted for more than a quarter of all of the EU's imports in this sector in 2023, worth almost $1.5 billion. Apart from stifling Russia's trade revenue, the step also aims to reduce the EU's dependence on Russian and Belarusian goods, protect European farmers, and diversify the supply. The EU adopted higher tariffs on cereals, oilseeds, and some other products from Russia and Belarus in May 2024. Earlier this year, the European Commission proposed imposing similar measures on all remaining agricultural products from the two countries. Read also: Putin's suspected daughter found working in anti-war galleries in Paris We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Reuters
23-05-2025
- Business
- Reuters
Polish trade minister plays down 50% U.S. tariff threat, says U.S. EU trade talks ongoing
BRUSSELS, May 23 (Reuters) - Poland's Trade Minister Michal Baranowski played down on Friday the threat of the United States imposing 50% tariffs on European goods from June 1 as part of ongoing negotiations, underlining there was time for EU-U.S. talks until early July. Earlier on Friday, President Donald Trump said he was recommending a straight 50% tariff on goods from the European Union starting on June 1, because trade negotiations with the EU were "going nowhere". "The European Union and the United States are negotiating. Some negotiate behind closer doors, others more in front of cameras," Baranowski, whose country holds the rotating presidency of the 27-nation European Union, told reporters. "The fact that we see some important statements in the public domain does not mean that they will translate into actions of the U.S. administration," he said. "So far we have a clear signal, also at the political level, that the United States and the European Union have decided to hold back with reciprocal tariffs. We have time until early July to conduct negotiations and according to my best knowledge these negotiations are moving forward," Baranowski said. "(EU) Trade Commissioner (Maros) Sefcovic and will see U.S. chief negotiator (Jamieson) Greer at the beginning of June in Paris which will be another opportunity to discussion concrete steps, rather than talk in such generalities," Baranowski said.
Yahoo
15-05-2025
- Business
- Yahoo
EU Readies New Trade Proposal for US as Tariff Talks Move Slowly
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Power-Hungry Data Centers Are Warming Homes in the Nordics Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NYC Commuters Brace for Chaos as NJ Transit Rail Strike Looms The European Union is revising its proposals for a potential trade deal with the US as a first step toward opening serious negotiations, even as the Trump administration continues to provide little clarity and make demands that negotiators see as unrealistic, according to people familiar with the matter. The new EU proposal would provide more details on ways to lower trade and non-tariff barriers, as well as boost European investments within the US and purchases of US goods, including liquefied natural gas and semiconductors for use in artificial intelligence, said the people, who asked for anonymity to discuss sensitive talks. Despite the slow progress in direct US-EU talks, European trade ministers said they see reasons for optimism that the US is open to negotiations after it reached temporary trade truces with the UK and China. 'We are seeing some elements of optimism because we are seeing elements of de-escalation on the American side,' Michal Baranowski, undersecretary of state at the ministry of economic development and technology of Poland, said Thursday ahead of a meeting of trade ministers in Brussels. 'Negotiations with the EU are speeding up.' The US's recent deal with the UK, however, leaves in a place a new baseline tariff of 10% and potentially sectoral duties, which may not be acceptable for many EU nations. The Swedish minister for development cooperation and foreign trade, Benjamin Dousa, said that 'if the UK-US deal is what Europe gets then the US can expect countermeasures from our side,' he said. 'We will not be happy with that kind of deal.' Maros Sefcovic, the EU commissioner for trade and economic security, told reporters he had another call with US Commerce Secretary Howard Lutnick on Wednesday, with further meetings between the two planned. The US has welcomed some of the options proposed by the bloc as part of a potential deal, but EU officials remain unclear about what exactly US President Donald Trump is looking for, according to people familiar with the matter. One potential stumbling block is Trump's charge that the EU's value-added tax is a non-tariff barrier, since EU officials are adamant it isn't and that the bloc's autonomy over tax and regulations isn't negotiable. EU officials are relieved so see signals that Trump may be willing to back away from the punitive tariffs he has threatened to impose on major trading partners if they make concessions to the US. That's easing some of the economic concerns posed by the rapidly evolving US trade policy, fueling a rebound in markets that tumbled last month on mounting fears of a recession. Still, the US has given no indication it's willing to remove a baseline tariff and lift sectoral duties even if negotiations were to succeed. In parallel to negotiations, the EU is moving forward with countermeasures to hit back at Trump's tariffs should talks fail to produce a satisfactory outcome. Trump has continued to maintain a combative stance toward the EU, saying this week that it is 'in many ways nastier than China,' and the trading bloc has been preparing to impose another round of counter-tariffs against the US if talks fail. The US has temporarily delayed some of its levies on the EU to allow for negotiations. 'Trade conflicts are harmful; they slow down the exchange of goods, they slow down economic growth, and in the end there are no winners,' German Economy Minister Katherina Reiche said ahead of the meeting, adding that she hopes a 'reasonable solution' can be found. 'We are negotiating from a position of economic power, which must be used carefully.' The US and China agreed to temporarily lower tariffs on each other's goods after progress in negotiations, significantly ratcheting down the trade tensions between the world's two largest economies. That followed a pact between the US and the UK that Trump said he hoped would be the first of many, though the details of that agreement have yet to be fully worked out and the EU may demand deeper concessions. Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race Why Obesity Drugs Are Getting Cheaper — and Also More Expensive As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Trump Has Already Ruined Christmas ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
