EUROPEAN UNION
Europe wakes up to critical medicine dependency on China, looks for ways to prevent possible crisis scenarios
A coalition of health ministers in the EU is pushing for reduced dependency on Asia, primarily China, for essential medicines. They urge the European Commission to incorporate the Critical Medicine Act into a broader security strategy, increasing domestic manufacturing and centralizing stockpiles to mitigate risks.
India’s EU trade deal faces a costly hurdle due to strict laws
The European Union's stringent environmental regulations pose significant challenges in the ongoing free trade agreement negotiations with India. Issues such as the Carbon Border Adjustment Mechanism and privacy data protection laws could impose additional costs on Indian exports, despite efforts for exemptions or compensatory measures.
India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
India and the European Union will commence their tenth round of negotiations for a proposed free trade agreement in Brussels. Key issues such as agricultural tariffs, auto import duties, and regulatory barriers will be the focus, with hopes to finalize the deal by the end of the year.
China announces retaliatory tariffs on some Canada farm, food products
China retaliates against Canada's tariffs on Chinese electric vehicles, steel, and aluminium by imposing duties on Canadian agricultural products. Starting March 20, China will implement a 100% tariff on rapeseed oil, oil cakes, and pea imports, and a 25% duty on aquatic products and pork. This move adds another dimension to the ongoing trade war influenced by global tariff disputes.
EU denies picking on US tech giants, says US also tackling monopolisation
The EU reassured US lawmakers that the Digital Markets Act (DMA) isn’t targeting American tech giants but aims to ensure fair competition. EU officials highlighted similar US antitrust actions and dismissed concerns about innovation and fines.
Europe scrambles for a Trump-era defence strategy as Ukraine faces uncertainty
European leaders are set to gather in Brussels to address the escalating tension with Russia and the uncertain situation in Ukraine. They aim to bolster their defences and plan military spending without straining ties with the US. The meeting will also touch on a potential peace plan for Ukraine and cooperation among European countries.
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As Donald Trump suspended aid to Ukraine, this satellite company that competes with Elon Musk's Starlink saw its shares triple in value; here's the reason
Eutelsat's shares surged after concerns arose over Ukraine's access to Starlink's internet service due to the US cutting aid. Eutelsat, which merged with OneWeb, is negotiating with EU officials to provide satellite services to Ukraine. The future of Starlink in Ukraine remains uncertain. The EU plans to grant Ukraine access to the GovSatCom satellite network.
EU sticks to 2035 zero-emissions target for new cars
The European Commission reaffirms its goal for all new cars and vans sold in the EU to have zero CO2 emissions by 2035, while maintaining intermediate targets for 2025 and 2030. The European car industry will be granted three years to meet the 2025 emission requirements.
Germany set for massive rearmament as divide with US widens
Germany plans to significantly increase defence spending with 100 billion euros annually, indicating its readiness to strengthen military capabilities and address EU security concerns. The move, led by likely next chancellor Friedrich Merz, marks a significant shift in Germany's fiscal policy and its role in European defence.
Russia 'completed' issuing passports to locals in occupied Ukraine: Putin
Russia has completed the issuance of passports to Ukrainians in seized territories, a move Kyiv deems illegal. More than 3.5 million passports were distributed in regions annexed by Russia, limiting access to services for those refusing. Western governments and rights groups have condemned this action.
Europe to protect auto sector from 'mortal danger': EU industry chief
The EU is spearheading a major initiative to save its auto industry amid factory closures and trade threats. The plan includes boosting electric vehicle demand and increasing European production. Measures include tax incentives, mandatory company vehicle quotas, and significant investment in charging infrastructure.
EU asked to say how much funding given to Elon Musk's firms
German Green EU lawmaker Daniel Freund sent a letter to the European Commission on Tuesday, requesting "a detailed list of EU funding allocated to companies owned or controlled by Elon Musk" over the past five years. The companies mentioned included SpaceX, Tesla, X, Neuralink, The Boring Company, xAI, and "any other relevant entities linked" to Musk.
A 'superstitious' Trump didn't want you to think he was joking about tariffs on US allies, including India
President Trump will implement reciprocal tariffs on April 2 against Canada, Mexico, China, the EU, and India, targeting unfair trade practices. This move aims to equalize the tariffs on American goods while addressing non-monetary barriers. While Trump assures minimal disruption, there is potential for retaliatory actions from these countries.
EU emissions reprieve for carmakers may slow EV shift
The European Commission proposes to ease emission targets for automakers, granting them three years to meet the 2025 CO2 reduction goal. This move aims to safeguard profit margins and avoid fines amid struggling EV sales and Chinese competition, but may hinder Europe's climate progress and EV adoption.
Belgium looking to step up defence cooperation with India: Maxime Prevot
Belgium's foreign minister Maxime Prevot emphasized the need for Europe to develop its own strategic autonomy, particularly in the defense sector. Highlighting a prospective defense pact between India and Belgium, he asserted that PM Narendra Modi understands Europe's concerns. A high-level Belgian delegation, led by Princess Astrid, met with PM Modi to discuss these matters.
UK to speed up military purchases amid Ukraine fallout
The UK government commits to cutting red tape to expedite military purchases amid rising defence spending due to the Ukraine crisis. Finance Minister Rachel Reeves emphasized securing both the UK and Europe, while also fostering better supply chain access for small and medium-sized enterprises in the defence sector.
India's exports face pressure from US, EU trade policies, govt official says
Indian exports are under pressure due to aggressive trade policies from the US and EU. Factors such as high import tariffs and technological disadvantages are challenging India's export growth, which needs a 14.4% annual increase to meet targets. The trade deficit persists despite rising exports.
Amid Trump tariffs turmoil, India is an island of calm. For how long?
US President Donald Trump's tariffs on Canadian, Mexican, and Chinese imports have sparked fears of a global trade war. India's officials are negotiating to lower tariffs on various products to mitigate the impact, as potential US reciprocal tariffs could significantly affect its export sectors.
Nato: What if the world's top military alliance falls apart?
NATO faces uncertainty as US questions its commitment to European security. US President Trump’s ties with Russia and recent criticisms at the Munich Security Forum have led Europe to consider an autonomous defense capability, potentially marking the end of NATO’s current structure and the emergence of a European Treaty Organisation.
How India can make billions out of Trump-Nato rift
Amid growing tension between Trump and Nato over defence funding, European nations are increasing their military budgets. This situation opens up significant opportunities for India's defense industry, which is expanding its exports and seeking greater integration into global supply chains.
Asylum cases in Europe fell 11% last year: Here's look at the numbers
The European Union's asylum agency reported over 1 million asylum applications in 2024, with Syrians, Afghans, and Venezuelans being the top nationalities. Germany received the highest number of requests, while the EU's temporary protection program hosted 4.4 million Ukrainians. Recognition rates varied widely among nationalities.
India's defence industry can bolster EU's supply chain: Commissioner
India's robust defence industry could become an integral part of the European Union's defence supply chains as Europe seeks to modernize its defence sector. Discussions between India and the EU on enhancing defence and security cooperation, focusing on joint exercises, maritime security, cybersecurity, and industrial partnerships, hold significant promise.
India, European Union discuss efforts to accelerate FTA talks
India and the EU are accelerating efforts to finalize a free trade agreement by the end of the year. Key areas include duty cuts on specific goods and data security for India's IT sector. The agreement aims to enhance bilateral trade and investment, amidst concerns over potential US tariffs.
India, EU announce "blueprint for collaboration"; trade deal likely this year
India and the EU aim to forge a free trade agreement by the end of the year following Prime Minister Narendra Modi's meeting with European Commission president Ursula von der Leyen. The discussions covered collaboration on trade, technology, green growth, and security. Both sides emphasised enhancing market access, removing barriers, and increasing cooperation on various global challenges.
OpenAI’s video-generation model Sora launches in EU, UK
On Friday, the company announced on X that ChatGPT Plus and Pro subscribers in European Union, the UK. Switzerland, Norway, Liechtenstein, and Iceland can now create videos using the model.
How Donald Trump’s 25 per cent tariffs on the EU could affect Americans
Donald Trump announced that the United States will impose 25 per cent tariffs on goods imported from the European Union, escalating trade tensions between the two economic giants. In response, the EU said it would take swift countermeasures against what it considers an unjustified move. Last year, the US imported $605.8 billion worth of goods from the 27-nation bloc.
EU will 'do the same' if US maintains tariff hikes: French finance minister
French Finance Minister Eric Lombard stated that the European Union is prepared to impose the same 25 percent tariffs in response to US President Donald Trump's tariff announcements. Lombard highlighted the need to protect EU interests, even though trade wars are detrimental. Negotiations with the US are scheduled to begin on April 2.
Indifference or hostility? Trump's view of European allies raises alarm
President Trump's labeling of the European Union as a foe and his potential imposition of 25% tariffs on European goods highlight his administration's adversarial stance towards traditional allies. European leaders express concern over the reliability of the U.S., fearing strategic and ideological shifts undermining long-established relations.
US abstains from WTO condemnation of Russia's aggression in Ukraine: Sources
The United States chose not to co-sponsor a WTO statement condemning Russia's aggression in Ukraine for the first time since the invasion began in 2022. Over 40 WTO members, including the European Union, the United Kingdom, Canada, and Australia, backed the statement. The U.S. mission in Geneva did not provide a comment on its decision.
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