Latest news with #free trade


Al Arabiya
13 minutes 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
40 minutes 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
42 minutes 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
42 minutes 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.


National Post
5 days ago
- Business
- National Post
Chris Selley: Canadian protectionism is on the march
It gets harder by the week to distinguish Canada's response to U.S. President Donald Trump's protectionism from … well, protectionism, as opposed to something more sophisticated, calculated or intelligent. I argued recently that there's no good reason for BC Ferries to pay over the odds for new vessels if a Chinese shipyard can build them on time and for the best price — but of course I understand the unique sensitivities around China, just as I do those around the United States. Article content Article content But now consider this headline from hell in the Toronto Star this week: 'Everyone wants the new TTC (Toronto Transit Commission) subway cars to be made in Canada.' Article content Article content 'Everyone' in this case is all three levels of government involved: Toronto city council, led by an NDP mayor; the provincial government, led by a Progressive Conservative premier; and the federal government, led by a Liberal prime minister. So, not literally everyone, though I get the sense we're not far away from the latter, even as we're supposedly trying to project a free-trading image to the world. Right and left are united, at least rhetorically, on the 'buy Canadian' thing. When Rob Ford won the Toronto mayoral election in 2010, bringing brother Doug along with him to city council, one of their major complaints against former mayor David Miller was that under his watch, the city had paid far too much for new subway cars in order to ensure they were built by Bombardier in Thunder Bay, Ont. — which is more than a 15-hour drive from Toronto, and which many Torontonians probably couldn't place on a map. Article content Article content As the 'Canada is not for sale' premier, Doug Ford is now David Miller. 'I am requesting that the City of Toronto recognize this historic opportunity and consider a sole-source procurement with Alstom, which would support Ontario workers in Thunder Bay and across our province,' Ford's provincial Transport Minister Prabmeet Sarkaria wrote recently to the city. (Alstom, a French company, gobbled up Bombardier Transportation in 2021.) Article content 'With the procurement of these subway trains, I am supportive of any action that accomplishes a build Canada option in a manner that is consistent with the city of Toronto's legal obligations,' federal Infrastructure Minister Gregor Robertson wrote to Mayor Olivia Chow this week. Article content Any action? If I'm Alstom right now, I'm seeing nothing but dollar signs. Article content It's one thing to rule out American or Chinese companies. I wouldn't — the best deal is the best deal — but it's at least coherent: China is not a Canadian ally, and Trump is taking dead aim at the Canadian economy. But the past few decades have seen a very welcome move away from protectionism in public-transit procurement.