Latest news with #Brussels
Free Malaysia Today
2 hours ago
- Politics
- Free Malaysia Today
European FMs aim to meet Iran for nuclear talks Friday in Geneva
EU foreign policy chief Kaja Kallas insists diplomacy is the best way to prevent Iran from developing a nuclear weapon. (AFP pic) BRUSSELS : Foreign ministers from key European powers France, Germany and Britain and the EU's top diplomat are aiming to meet their Iranian counterpart for nuclear talks in Geneva on Friday, European diplomats said. The meeting being planned comes as European countries call for de-escalation in the face of Israel's bombing campaign against Iran's nuclear programme. US President Donald Trump has warned he is weighing military action against Iran's nuclear facilities as Israel pummels the country and Tehran responds with missile fire. Israel says its air campaign is aimed at preventing Iran from acquiring nuclear weapons. Iran had been enriching uranium to 60% – far above the 3.67% limit set by a 2015 deal with international powers, but still short of the 90% threshold needed for a nuclear warhead. France, Germany, Britain and the European Union were all signatories of the 2015 agreement, which was sunk by Trump during his first term in office. The EU's foreign policy chief Kaja Kallas has insisted that diplomacy remains the best path towards ensuring that Iran does not develop a nuclear bomb.
Reuters
2 hours ago
- Automotive
- Reuters
Breakingviews - China may win more than EU from auto tariff truce
LONDON/HONG KONG, June 19 (Reuters Breakingviews) - A détente in the electric vehicle tariff war may suit China more than Europe. Brussels and Beijing are haggling over a way for Chinese manufacturers to sell battery rides tariff-free, but at a minimum price. Embracing such a system would be a risky move. Europe's electric-vehicle tariffs are barely a year old. Brussels added extra levies of up to 35% to offset the competitive advantages that made-in-China vehicles get from government subsidies or cheap labour. Now, the People's Republic is pushing an alternative: rather than duties levied on imports, carmakers would commit to not sell below a certain price, a model used before with solar panels. Such a system could have benefits. Chinese manufacturers would not have to absorb the burden of levies through discounted prices. Europe, meanwhile, would be able to mollify Beijing and so avoid tit-for-tat tariffs on cognac and other exports, but still stop it dumping cars on the cheap. The latter is a potential mortal threat to Renault ( opens new tab or Volkswagen ( opens new tab. Last year, the Middle Kingdom exported, opens new tab some 1.25 million electric vehicles, more than half of the total production in Europe, as per International Energy Agency data. Look beneath the hood, however, and there are issues. Europe would probably want to find a level that reflects the extent of subsidies enjoyed by each carmaker, as it did with tariffs. A single tariff, likely China's preferred option, would be less precise. Either way, establishing a minimum floor for a complex vehicle with many moving parts would be challenging. It could also quickly become obsolete. Renault and Volkswagen are launching cheaper EV models to compete with China, and changes in battery technology will lower costs. A floor could reduce the incentive to innovate. Enforcement looks a bigger headache. Tariffs have the virtue of simplicity. Yet car prices are fluid: dealers offer discounts, and incentives such as cheap loans. And China's carmakers are already masters at bundling products to make their wares more attractive at home. BYD ( opens new tab, ( opens new tab includes its 'God's Eye' assisted driving software for all vehicles priced above 100,000 yuan (less than $10,000). Carmakers at April's Shanghai auto show touted perks such as multiple screens and built-in kitchenettes. Nio ( opens new tab owners have access to the brand's clubhouses. As such, European carmakers may still be undercut by Chinese rivals, incentivising production in China. True, Europe could impose minimum import quotas, as it did with Japan in the 1980s. Or it could set the price floor high but still impose tariffs below that level. But overall, minimum pricing may be the cost Europe must bear to maintain relations with Beijing and secure access to rare earths – meaning China would most likely be the winner. Follow @Unmack1, opens new tab on X and Katrina Hamlin on Bluesky, opens new tab and Linkedin, opens new tab
Arab News
4 hours ago
- Politics
- Arab News
European, Iranian FMs to hold nuclear talks on Friday in Geneva
BRUSSELS, Belgium: Foreign ministers from Britain, France and Germany together with the EU's top diplomat will hold nuclear talks with their Iranian counterpart in Geneva on Friday, officials and diplomats said. The meeting comes as European countries call for de-escalation in the face of Israel's bombing campaign against Iran's nuclear program — and as US President Donald Trump weighs up whether or not to join the strikes against Tehran. 'We will meet with the European delegation in Geneva on Friday,' Iran's Foreign Minister Abbas Araghchi said in a statement carried by state news agency IRNA. European diplomats separately confirmed the planned talks, set to involve French Foreign Minister Jean-Noel Barrot, British Foreign Secretary David Lammy and German Foreign Minister Johann Wadephul, as well as EU foreign policy chief Kaja Kallas. Lammy was in Washington on Thursday, where he was due to meet US Secretary of State Marco Rubio for talks focused on Iran, the State Department said. Trump has said he is weighing up military action against Iran's nuclear facilities as Israel pummels the country and Tehran responds with missile fire. Israel has killed several top Iranian officials in its strikes and Araghchi's adviser said that the minister was unfazed by fears he may be targeted next. 'Since it was announced that the Foreign Minister was heading to Geneva for negotiations with the European troika, I've received numerous messages expressing concern that the Zionist regime might target him,' Mohammad Hossein Ranjbaran said on X. But he insisted that Araghchi 'seeks martyrdom' and that 'a major Israeli plot against him' had already been foiled 'in Tehran just a few days ago.' France, Germany, Britain and the European Union were all signatories of the 2015 nuclear agreement with Iran which Trump sunk during his first term in office. The EU's Kallas, in coordination with European countries, has insisted that diplomacy remains the best path toward ensuring that Iran does not develop a nuclear bomb. On Wednesday, French President Emmanuel Macron said that European nations were planning to suggest a negotiated solution to end the Iran-Israel conflict. He has asked his foreign minister to draw up an initiative with 'close partners' to that end. Barrot has been in regular touch with his German and British counterparts since Israel launched massive air strikes against Iran on Friday. Speaking in Paris after talks on the crisis on Thursday, Barrot said that the three nations 'stand ready to bring our competence and experience on this matter.' 'We are ready to take part in negotiations aimed at obtaining from Iran a lasting rollback of its nuclear and ballistic missile programs,' he added. The French top diplomat also underlined Iran's 'willingness to resume talks,' including with the United States 'on condition there is a ceasefire.' Israel says its air campaign is aimed at preventing Iran from acquiring nuclear weapons. Iran had been enriching uranium to 60 percent — far above the 3.67-percent limit set by a 2015 deal with international powers, but still short of the 90-percent threshold needed for a nuclear warhead. Iran denies it is building nuclear weapons.
South China Morning Post
5 hours ago
- Business
- South China Morning Post
Overcapacity: the economic buzzword fuelling Europe's clash with China
In a soulless conference room in Brussels in November, officials and experts from around Europe and the United States were locked in a technical debate over a cryptic bit of economic jargon: global non-market overcapacity. Advertisement Beneath the geography-free legalese so common in Brussels, China was undoubtedly the subject. The conference, organised by the European Commission, was designed to thrash out solutions to the problem of overcapacity in China's economy and the second-order effects Europe fears. Decades of overinvestment and state subsidies in China, weak domestic consumption, an addiction to manufacturing, crashing corporate profits, zombie companies that the state does not let die and a superpower trade war have, the EU believes, created a perfect storm. 18:59 Why the EU, US are concerned about China's overcapacity Why the EU, US are concerned about China's overcapacity China's industrial overflows must go somewhere, Brussels thinks, probably at a discount, and the only logical destination is Europe. Governments fear companies that make everything from industrial machinery and chemicals to hydrogen electrolysers and wind turbines will be eaten alive, industries decimated and jobs lost forever. They worry about a wave that could sweep populist parties to power in Europe's hollowed-out manufacturing heartlands. They insist that Beijing should worry too, or face a European anti-China backlash similar to the one that has coursed through the United States over the last decade. Advertisement 'We are seeing a new 'China shock' – as China's economy slows down, Beijing floods global markets with subsidised overcapacity that its own market cannot absorb,' European Commission President Ursula von der Leyen said at the G7 meeting in Canada this week. Back at the Brussels forum on global non-market overcapacity last year, the discussion was becoming bogged down in terminology – 'decreasing profit margins', 'returns on capital', 'underutilised assets' – when an arm shot up in the middle of the room.
Arab News
6 hours ago
- Business
- Arab News
EU countries seek ban on trade with illegal zones of Israel
BRUSSELS: Nine European Union countries have called on the European Commission to come up with proposals on how to discontinue EU trade with Israeli settlements in the occupied Palestinian territories, according to a letter seen by Reuters on Thursday. The letter, addressed to EU foreign policy chief Kaja Kallas, was signed by foreign ministers from Belgium, Finland, Ireland, Luxembourg, Poland, Portugal, Slovenia, Spain and Sweden. The EU is Israel's biggest trading partner, accounting about a third of its total goods trade. Two-way goods trade between the bloc and Israel stood at 42.6 billion euros ($48.91 billion) last year, though it was unclear how much of that trade involved settlements. The ministers pointed to a July 2024 advisory opinion from the International Court of Justice, which said Israel's occupation of Palestinian territories and settlements there are illegal. It said states should take steps to prevent trade or investment relations that help maintain the situation. 'We have not seen a proposal to initiate discussions on how to effectively discontinue trade of goods and services with the illegal settlements,' the ministers wrote. 'We need the European Commission to develop proposals for concrete measures to ensure compliance by the Union with the obligations identified by the Court,' they added. Israel's diplomatic mission to the EU did not immediately respond to a request for comment. Belgian Foreign Minister Maxime Prevot said Europe must ensure trade policy is in line with international law. 'Trade cannot be disconnected from our legal and moral responsibilities,' the minister said in a statement to Reuters. 'This is about ensuring that EU policies do not contribute, directly or indirectly, to the perpetuation of an illegal situation,' he said. The ministers' letter comes ahead of a meeting in Brussels on June 23 where EU foreign ministers are set to discuss the bloc's relationship with Israel. Ministers are expected to receive an assessment on whether Israel is complying with a human rights clause in a pact governing its political and economic ties with Europe, after the bloc decided to review Israel's adherence to the agreement due to the situation in Gaza.
