Latest news with #free trade
South China Morning Post
17 hours ago
- Business
- South China Morning Post
European firms call for return to free and fair trade at China-EU summit
European companies called for a return to the spirit of free and fair trade at Thursday's highly anticipated China-European Union summit in Beijing , urging leaders to settle their policy differences and promote a level playing field for businesses in both markets. They expected the European side to press China on issues including reducing the bilateral trade imbalance, lowering market access and regulatory barriers, and ensuring equal treatment for foreign companies operating in the country. 'I think that one of the main expectations shared by many industries would be to preserve free trade … anything that becomes an obstacle to this free trade is, in our view, a problem,' an EU industry source told the Post on Wednesday. 'The core of today's debate between the European Union and China is how to maintain this idea of free trade, while recognising that certain sectors may be more competitive on one side than the other. The goal is to ensure that, when free trade happens, it takes place on fair and equitable terms,' the source said. The European Union Chamber of Commerce in China (EUCCC) said it expected both sides to identify areas where 'cooperation is still possible and necessary', highlighting in particular the need to step up cooperation on the green transition and climate change, in a statement published on Tuesday. Environmental regulations – specifically the gap between European and Chinese environmental laws – are one of the two main concerns for the EU industry source, the other being the subsidies enjoyed by China's state-owned enterprises. The key question is how Europe can keep pushing ahead as a global leader in building cleaner, more sustainable industries without undermining its own competitiveness, the source said.
Al Arabiya
a day ago
- Business
- Al Arabiya
EU and Japan agree to work together to promote free trade and economic security
Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade, and countering unfair trade practices as the two sides face growing challenges from the US and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President Antonio Costa, and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15 percent tariffs on Japanese cars and other goods imported into the US, down from an initial 25 percent. The leaders agreed to launch a competitiveness alliance aimed at stepping up trade, economic security, and cooperation in innovation, energy, and other areas, according to a joint statement released by the EU. The leaders also supported a stable and predictable, rules-based, free, and fair economic order and reaffirmed the importance of Japan-EU cooperation to uphold a multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East, and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and the Indo-Pacific are inseparable.
Yahoo
a day ago
- Business
- Yahoo
EU and Japan agree to work together to promote free trade and economic security
TOKYO (AP) — Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President António Costa and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15% tariffs on Japanese cars and other goods imported into the U.S., down from an initial 25%. The leaders agreed to launch 'competitiveness alliance" aimed at stepping up trade, economic security and cooperation in innovation, energy and other areas, according to a joint statement released by the EU. The leaders also supported 'a stable and predictable rules-based free and fair economic order,' and reaffirmed the importance of Japan-EU cooperation to uphold multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and Indo-Pacific are inseparable. Mari Yamaguchi, The Associated Press 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
The Independent
a day ago
- Business
- The Independent
EU and Japan agree to work together to promote free trade and economic security
Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President António Costa and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15% tariffs on Japanese cars and other goods imported into the U.S., down from an initial 25%. The leaders agreed to launch 'competitiveness alliance" aimed at stepping up trade, economic security and cooperation in innovation, energy and other areas, according to a joint statement released by the EU. The leaders also supported 'a stable and predictable rules-based free and fair economic order,' and reaffirmed the importance of Japan-EU cooperation to uphold multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and Indo-Pacific are inseparable.
Associated Press
a day ago
- Business
- Associated Press
EU and Japan agree to work together to promote free trade and economic security
TOKYO (AP) — Leaders of the European Union and Japan launched an alliance Wednesday aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China. The agreement followed a meeting among European Commission President Ursula von der Leyen, European Council President António Costa and Japanese Prime Minister Shigeru Ishiba. It comes just as Tokyo and Washington reached a new trade deal, which places 15% tariffs on Japanese cars and other goods imported into the U.S., down from an initial 25%. The leaders agreed to launch 'competitiveness alliance' aimed at stepping up trade, economic security and cooperation in innovation, energy and other areas, according to a joint statement released by the EU. The leaders also supported 'a stable and predictable rules-based free and fair economic order,' and reaffirmed the importance of Japan-EU cooperation to uphold multilateral trading system with the World Trade Organization at its core, as well as with other multilateral cooperation efforts. The EU and Japan also agreed to strengthen defense industry cooperation and to start talks on an information security agreement. Japan and the EU have been stepping up their security and defense cooperation amid growing global tensions and conflicts, including Russia's war on Ukraine, conflicts in the Middle East and increasingly assertive China's military activity in Asia, recognizing that challenges in Europe and Indo-Pacific are inseparable.
