Latest news with #Toulouse-based
RTÉ News
26-05-2025
- Automotive
- RTÉ News
What's at stake as Trump's tariffs threaten EU exports
US President Donald Trump has backed away from a threat to impose 50% tariffs imminently on imports from the European Union, giving more time for talks between Washington and the 27-nation bloc to produce a deal. Economically, both sides have much at stake. The US was the trading bloc's biggest export partner in 2024, making up 20.6% of exports, according to Eurostat. Medicinal and pharmaceutical products were the EU's most exported sector to the US in 2024, followed by motor vehicles and aircraft and associated equipment, the data showed. The three largest exporters to the US in the EU were Germany, which exported €161 billion worth of goods, Ireland, at €72 billion and Italy, at €65 billion. Below is an overview of the biggest EU exports to the US by sector: Medication and pharmaceuticals The EU exported pharmaceutical products and medicaments worth around €120 billion to the US in 2024, according to Eurostat data. Although the Trump Administration initially spared pharmaceutical products from the reciprocal tariffs he announced on what he called "Liberation Day", it was not immediately clear if the industry would continue to be shielded. Some of the EU's biggest pharmaceutical companies are Novo Nordisk, Bayer, Roche and Novartis. Automakers EU countries export around 750,000 vehicles a year to the US, according to consulting firm AlixPartners. Worth around €40 billion, this accounts for 14% of the EU auto industry's total output in terms of volume, and 24% in terms of value as most cars exported to the US are premium models. As a result, the US was the second largest market for EU car exports in 2024 in terms of value, data from auto industry group ACEA shows. Mercedes-Benz, Stellantis and Volvo Cars are among automakers who have withdrawn their 2025 financial guidance, citing the uncertainty caused by US trade policy. Germany's Volkswagen Group is highly exposed to the tariffs, as its premium brand Audi does not manufacture in the US, though it has said it plans to announce a location to build some of its best-selling models in the market this year. Aircraft and aircraft equipment Toulouse-based Airbus is France's second-biggest exporter and delivers some 12% of its jets to the United States, some of which are assembled locally, according to Cirium data. Among the biggest suppliers to Airbus and Boeing is CFM International, the world's largest engine maker by volume, co-owned by France's Safran and GE Aerospace. Engines, motors and motor vehicle parts The European Union also delivers car parts and engines into the US. Companies that could be affected by tariffs include MTU Aero Engines, which manufactures military aircraft engines and repairs and maintains commercial engines. European companies manufacturing car parts, including engines and motors included Steyr Motors and MTU Aero Engines. Alcohol Of the alcoholic beverages worth around €9 billion that the EU supplies to the US, European spirits made up €2.9 billion in 2024, according to trade group SpiritsEurope. US spirits companies are also invested in Europe and throughout the sector's supply chain, meaning any tariff damage to them puts jobs at risk beyond the European Union, SpiritsEurope had told Reuters in March. Some of the biggest European alcohol producers include Dutch brewer Heineken, British spirits maker Diageo, which owns Guinness, and beer maker Carlsberg. Cosmetics Exports of perfumes, essential oils, cosmetics, and toiletries to the US were worth $10.47 billion in 2024, according to the United Nations Comtrade database. Of this, French cosmetics exports to the US, from companies such as L'Oreal, reached about €2.5 billion a year. Luxury The sector's largest groups sell roughly a quarter of their products to US consumers, while exposure among smaller brands varies, from 14% at outerwear company Moncler to 46% at sandals-maker Birkenstock. France's luxury industry - the world's largest - employs over 600,000 people, data from the economy ministry shows. Italy, which produces most of the world's high-end leather goods, is also highly exposed to international trade. The two countries are the largest exporters of most luxury products to the US.
Yahoo
23-05-2025
- Automotive
- Yahoo
Factbox-The EU's top exports, most vulnerable to Trump's new tariffs
(Reuters) -U.S. President Donald Trump on Friday once again threatened to ramp up his trade war, recommending a 50% tariff on European Union goods starting June 1, sending European stocks tumbling. The United States was the trading bloc's biggest export partner in 2024, making up 20.6% of exports, according to Eurostat. Medicinal and pharmaceutical products were the EU's most exported group to the U.S in 2024, followed by motor vehicles and aircrafts and associated equipment, according to the data. The three largest exporters to the United States in the EU were Germany, which exported 161 billion euros ($182.62 billion) worth of goods, Ireland, at 72 billion euros, and Italy, at 65 billion euros. Below is an overview of the biggest EU exports to the U.S. by sector: MEDICATION AND PHARMACEUTICALS The EU exported around 120 billion euros worth of pharmaceutical products and medicaments to the U.S in 2024, according to Eurostat data. Although the Trump Administration initially spared pharmaceutical products from reciprocal tariffs on "Liberation Day", it was not immediately clear if the industry would continue to be shielded from them after Trump's statement on Friday. Some of the EU's top pharmaceutical companies are - Novo Nordisk - Bayer - Roche - Novartis AUTOMAKERS The U.S. was the second largest market for EU car exports accounting for 22% of EU vehicle exports in 2024 in terms of value, according to figures from auto industry group ACEA. Automakers including Mercedes-Benz, Stellantis and Volvo Cars have pulled their 2025 financial guidance, citing the uncertainty caused by U.S. trade policy. German Volkswagen Group is highly exposed to the tariffs, as its premium brand Audi does not manufacture in the U.S., though it has said it plans to announce a location to build some of its top-selling models in the market this year. AIRCRAFT AND AIRCRAFT EQUIPMENT Toulouse-based Airbus is France's second-biggest exporter and delivers some 12% of its jets to the United States, some of which are assembled locally, according to Cirium data. Among the biggest supplier to Airbus and Boeing is CFM International, the world's largest engine maker by volume, co-owned by France's Safran, and GE Aerospace. ENGINES, MOTORS AND MOTOR VEHICLE PARTS Alongside cars and planes, the European Union also delivers a lot of car parts and engines into the U.S. Companies potentially affected by tariffs could include MTU Aero Engines, which besides manufacturing military aircraft engines also repairs and maintains commercial engines. Some European companies manufacturing car parts including engines and motors: - Steyr Motors - MTU Aero Engines - DEUTZ ALCOHOL Of the around 9 billion euros worth of alcoholic beverages that the EU supplies to the U.S., European spirits made up 2.9 billion euros in 2024, according to trade group spiritsEurope. U.S. spirits companies are also invested in Europe and throughout the sector's supply chain, so hurting them puts jobs at risk, SpiritsEurope had told Reuters in March. Some of the biggest European alcohol producers include: - Dutch brewer Heineken - British spirits maker Diageo, owner of many European brands - Beer maker Carlsberg COSMETICS Exports of perfumes, essential oils, cosmetics, and toiletries to the United States was made up of $10.47 billion in 2024, according to the United Nations Comtrade database. Of this, French cosmetics exports to the U.S., from the likes of L'Oreal, make up about 2.5 billion euros per year. LUXURY The sector's largest groups sell roughly a quarter of their products to U.S. consumers, while exposure among smaller brands varies, from 14% at outerwear company Moncler to 46% at sandals-maker Birkenstock. France's luxury industry - the world's largest - employs over 600,000 people, data from the economy ministry shows. The two countries are the largest exporters of most luxury products to the United States. S&P analysts cited the luxury sector in a recent note as one of those most exposed to U.S. tariffs, as companies have only limited ability to move production to the United States. ($1 = 0.8816 euros) (Compiled by Javi West Larrañaga and Marleen Kaesebier in Gdansk; additional reporting by Simon Ferdinand Eibach; Editing by Nick Zieminski) 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
Yahoo
23-05-2025
- Automotive
- Yahoo
Factbox-The EU's top exports, most vulnerable to Trump's new tariffs
(Reuters) -U.S. President Donald Trump on Friday once again threatened to ramp up his trade war, recommending a 50% tariff on European Union goods starting June 1, sending European stocks tumbling. The United States was the trading bloc's biggest export partner in 2024, making up 20.6% of exports, according to Eurostat. Medicinal and pharmaceutical products were the EU's most exported group to the U.S in 2024, followed by motor vehicles and aircrafts and associated equipment, according to the data. The three largest exporters to the United States in the EU were Germany, which exported 161 billion euros ($182.62 billion) worth of goods, Ireland, at 72 billion euros, and Italy, at 65 billion euros. Below is an overview of the biggest EU exports to the U.S. by sector: MEDICATION AND PHARMACEUTICALS The EU exported around 120 billion euros worth of pharmaceutical products and medicaments to the U.S in 2024, according to Eurostat data. Although the Trump Administration initially spared pharmaceutical products from reciprocal tariffs on "Liberation Day", it was not immediately clear if the industry would continue to be shielded from them after Trump's statement on Friday. Some of the EU's top pharmaceutical companies are - Novo Nordisk - Bayer - Roche - Novartis AUTOMAKERS The U.S. was the second largest market for EU car exports accounting for 22% of EU vehicle exports in 2024 in terms of value, according to figures from auto industry group ACEA. Automakers including Mercedes-Benz, Stellantis and Volvo Cars have pulled their 2025 financial guidance, citing the uncertainty caused by U.S. trade policy. German Volkswagen Group is highly exposed to the tariffs, as its premium brand Audi does not manufacture in the U.S., though it has said it plans to announce a location to build some of its top-selling models in the market this year. AIRCRAFT AND AIRCRAFT EQUIPMENT Toulouse-based Airbus is France's second-biggest exporter and delivers some 12% of its jets to the United States, some of which are assembled locally, according to Cirium data. Among the biggest supplier to Airbus and Boeing is CFM International, the world's largest engine maker by volume, co-owned by France's Safran, and GE Aerospace. ENGINES, MOTORS AND MOTOR VEHICLE PARTS Alongside cars and planes, the European Union also delivers a lot of car parts and engines into the U.S. Companies potentially affected by tariffs could include MTU Aero Engines, which besides manufacturing military aircraft engines also repairs and maintains commercial engines. Some European companies manufacturing car parts including engines and motors: - Steyr Motors - MTU Aero Engines - DEUTZ ALCOHOL Of the around 9 billion euros worth of alcoholic beverages that the EU supplies to the U.S., European spirits made up 2.9 billion euros in 2024, according to trade group spiritsEurope. U.S. spirits companies are also invested in Europe and throughout the sector's supply chain, so hurting them puts jobs at risk, SpiritsEurope had told Reuters in March. Some of the biggest European alcohol producers include: - Dutch brewer Heineken - British spirits maker Diageo, owner of many European brands - Beer maker Carlsberg COSMETICS Exports of perfumes, essential oils, cosmetics, and toiletries to the United States was made up of $10.47 billion in 2024, according to the United Nations Comtrade database. Of this, French cosmetics exports to the U.S., from the likes of L'Oreal, make up about 2.5 billion euros per year. LUXURY The sector's largest groups sell roughly a quarter of their products to U.S. consumers, while exposure among smaller brands varies, from 14% at outerwear company Moncler to 46% at sandals-maker Birkenstock. France's luxury industry - the world's largest - employs over 600,000 people, data from the economy ministry shows. The two countries are the largest exporters of most luxury products to the United States. S&P analysts cited the luxury sector in a recent note as one of those most exposed to U.S. tariffs, as companies have only limited ability to move production to the United States. ($1 = 0.8816 euros) (Compiled by Javi West Larrañaga and Marleen Kaesebier in Gdansk; additional reporting by Simon Ferdinand Eibach; Editing by Nick Zieminski) 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
Straits Times
08-05-2025
- Sport
- Straits Times
England flanker Pollock named in British and Irish Lions squad
Rugby Union - British & Irish Lions Squad Announcement - O2 Arena, London, Britain - May 8, 2025 British & Irish Lions head coach, Andy Farrell announces his squad for the tour of Australia Action Images via Reuters/Matthew Childs REUTERS Rugby Union - British & Irish Lions Squad Announcement - O2 Arena, London, Britain - May 8, 2025 The big screen displays the name of Henry Pollock as British & Irish Lions chairman Ieuan Evans announces the squad with head coach Andy Farrell and Maro Itoje Action Images via Reuters/Matthew Childs REUTERS LONDON - England rookie Henry Pollock's selection was the highlight of the British & Irish Lions squad announcement on Thursday as the 20-year-old flanker, with just 32 minutes of international rugby under his belt, earned a slot in Andy Farrell's squad. Pollock, who was playing for England under-20s earlier this year, has made an irresistible case since then, capping it off with a superb display for Northampton against Leinster in the Champions Cup in front of Farrell last week and will now be on the plane as part of the 38-man squad heading to Australia. After confirming the widely-expected appointment of Maro Itoje as captain, the rest of the tourists were revealed in alphabetical order as forwards, then backs. Pollock's name got the loudest cheer from the near-2,000 fans who paid 65 pounds ($86.68) to watch the event at London's O2 Arena. There was no place for head coach Andy Farrell's son Owen or Ireland's Sam Prendergast as the three flyhalf berths went to Marcus Smith, Fin Smith and Finn Russell. The last name to be read out was Tomos Williams, who joins flanker Jac Morgan as the only Welshmen in the squad. Williams will battle with England's Alex Mitchell and Ireland's Jamison Gibson-Park - one of an incredible 12 Leinster players in the squad - for the number nine jersey. It must have been hard listening for Ben Curry, who missed out as his brother Tom made the list in the hyper-competitive back row area. Scotland centre Sione Tuipulotu was also in, despite missing the Six Nations with a chest injury. Fellow Scots Duhan Van der Merwe and Blair Kinghorn, also currently injured, made the cut. Toulouse-based Kinghorn is likely to miss up to the first three games of the tour as his team compete in the French Top-14. "First and foremost can I just say congratulations to everyone who has been selected, it's a special day. It's something they'll remember forever," Farrell said. "Commiserations to those who thought they would be selected today. But things happen on tour or before you get on the plane as well. So everyone who has ambition, keep fighting, stay fit and we will be watching." The Lions kick off with a game against Argentina in Dublin on June 20. They will have five tour games before the first test in Brisbane on July 19. The second and third tests are on July 26 and August 2. Lions squad to tour Australia Forwards: Tadhg Beirne (Munster Rugby/Ireland) #838 Ollie Chessum (Leicester Tigers/England) Jack Conan (Leinster Rugby/Ireland) #839 Luke Cowan-Dickie (Sale Sharks/England) #851 Scott Cummings (Glasgow Warriors/ Scotland) Tom Curry (Sale Sharks/England) #853 Ben Earl (Saracens/England) Zander Fagerson (Glasgow Warriors/Scotland) #848 Tadhg Furlong (Leinster Rugby/Ireland) #818 Ellis Genge (Bristol Bears/England) Maro Itoje (Saracens/England) #825 (C) Ronan Kelleher (Leinster Rugby/Ireland) Joe McCarthy (Leinster Rugby/Ireland) Jac Morgan (Ospreys/Wales) Henry Pollock (Northampton Saints/England) Andrew Porter (Leinster Rugby/Ireland) James Ryan (Leinster Rugby/Ireland) Pierre Schoeman (Edinburgh Rugby/Scotland) Dan Sheehan (Leinster Rugby/Ireland) Will Stuart (Bath Rugby/England) Josh van der Flier (Leinster Rugby/Ireland) Backs: Bundee Aki (Connacht Rugby/Ireland) #837 Elliot Daly (Saracens/England) #822 Tommy Freeman (Northampton Saints/England) Jamison Gibson-Park (Leinster Rugby/Ireland) Mack Hansen (Connacht Rugby/Ireland) Huw Jones (Glasgow Warriors/Scotland) Hugo Keenan (Leinster Rugby/Ireland) Blair Kinghorn (Toulouse/Scotland) James Lowe (Leinster Rugby/Ireland) Alex Mitchell (Northampton Saints/England) Garry Ringrose (Leinster Rugby/Ireland) Finn Russell (Bath Rugby/Scotland) #835 Fin Smith (Northampton Saints/England) Marcus Smith (Harlequins/ England) #855 Sione Tuipulotu (Glasgow Warriors/Scotland) Duhan van der Merwe (Edinburgh Rugby/Scotland) #841 Tomos Williams (Gloucester Rugby/Wales) REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Local France
23-04-2025
- Local France
SNCF unveils 'bistro dining' on French train services
Rail travellers in France have to wait until 2026 for the new-look TGV-M trains to hit the tracks, with their two-storey 'cathedral-style' buffet car. But, while the 28-seat dining area in the shiny new high-speed trains isn't on the cards this year, SNCF has this spring relaunched its on-board menu with more of a focus on French 'bistro' classic dishes. Menus change seasonally, though the famous croque monsieur will be a common staple, as will the French classic Quiche Lorraine. The Spring 2025 menu card features Toulouse sausages and pomme purée (mashed potato), Crozets reblochon AOP and jambon d'Auch (baked reblochon cheese with ham); pasta with sun-ripened vegetables and risotto with asparagus and peas. Advertisement Desserts include chocolate fondant, fruit purée, cake or yoghurt. At €15.90 for a main course, dessert and a drink combination, it's not cheap – let's be honest, train food generally isn't – but it is intended to be a step up from more common sandwiches and cans of fizzy beverages. Soft drinks are included in the menu price, while beer or wine costs extra. Burgers, sandwiches and other snacks and drinks are also available in the buffet cars, which are available only on the high-speed TGV services on the InOui trains. They are not available on the budget OuiGo routes, or on local TER trains. SNCF proudly points out that the regional food served on its trains – supplied by Toulouse-based catering giant Newrest – is made with ingredients from 'local, sustainable supply chains'.
