Latest news with #TradeTensions
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Not the time to mess with EU-US trade, says EU's Costa
European Commission President Ursula von der Leyen and EU President António Costa took part in a press conference during the G7 Leaders' Summit in Alberta. (EPA Images pic) KANANASKIS : Europe and the US should focus on how the bloc takes more responsibility for its defence rather than creating economic uncertainty through trade tensions, EU President Antonio Costa said yesterday. Speaking to reporters with European Commission President Ursula von der Leyen ahead of a gathering of G7 leaders in the Canadian Rockies, Costa said the two days of meetings provide an opportunity to talk about 'some problems' between the allies and friends. 'The main issue between Europe and the US is precisely about European defence, and we should focus on (this),' Costa said, referring to Washington's rebalancing of foreign policy towards countering China. 'Because this is the main issue, we should avoid introducing other issues that undermine our economic capacity to assume greater responsibility on our own defence,' he said. US President Donald Trump backed away from his threat to impose 50% tariffs on imports from the EU next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Trump's haphazard imposition of tariffs across the world has created uncertainty among key US allies, and raised pressure on the global economy. Speaking alongside Costa, von der Leyen said the trade talks with Washington were now focusing on the details, but there was no guarantee of a deal. 'That's why this is not the right moment to create uncertainty on economics. 'It is not the right moment to create problems on trade, because we need to strengthen our economic basis,' Costa said. 'We are talking about the most relevant trade relations in the world, then we need to protect this and focus on what is the most important which is to have a good agreement between the EU and the US about the burden sharing on defence,' he said. Underscoring Costa's comments, von der Leyen said the G7 had to avoid protectionism. 'This is an important message. A message that the G7 can send to the markets and to the world,' she said.
Yahoo
5 days ago
- Business
- Yahoo
Not the time to mess with EU-US trade, EU's Costa says
By John Irish KANANASKIS, Alberta, Reuters) -Europe and the United States should focus on how the bloc takes more responsibility for its defence rather than creating economic uncertainty through trade tensions, European Union President Antonio Costa said on Sunday. Speaking to reporters with European Commission President Ursula von der Leyen ahead of a gathering of G7 leaders in the Canadian Rockies, Costa said the two days of meetings provide an opportunity to talk about "some problems" between the allies and friends. "The main issue between Europe and the United States is precisely about European defence, and we should focus on (this)," Costa said, referring to Washington's rebalancing of foreign policy towards countering China. "Because this is the main issue we should avoid introducing other issues that undermine our economic capacity to assume greater responsibility on our own defence." U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Trump's haphazard imposition of tariffs across the world has created uncertainty among key U.S. allies, and raised pressure on the global economy. Speaking alongside Costa, von der Leyen said the trade talks with Washington were now focussing on the details, but there was no guarantee of a deal. "That's why this is not the right moment to create uncertainty on economics. It is not the right moment to create problems on trade, because we need to strengthen our economic basis," Costa said. "We are talking about the most relevant trade relations in the world, then we need to protect this and focus on what is the most important which is to have a good agreement between the EU and the United States about the burden sharing on defence." Underscoring Costa's comments, von der Leyen said the G7 had to avoid protectionism. "This is an important message. A message that the G7 can send to the markets and to the world," she said. 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
Reuters
5 days ago
- Business
- Reuters
Not the time to mess with EU-US trade, EU's Costa says
KANANASKIS, Alberta, June 15, Reuters) - Europe and the United States should focus on how the bloc takes more responsibility for its defence rather than creating economic uncertainty through trade tensions, European Union President Antonio Costa said on Sunday. Speaking to reporters with European Commission President Ursula von der Leyen ahead of a gathering of G7 leaders in the Canadian Rockies, Costa said the two days of meetings provide an opportunity to talk about "some problems" between the allies and friends. "The main issue between Europe and the United States is precisely about European defence, and we should focus on (this)," Costa said, referring to Washington's rebalancing of foreign policy towards countering China. "Because this is the main issue we should avoid introducing other issues that undermine our economic capacity to assume greater responsibility on our own defence." U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Trump's haphazard imposition of tariffs across the world has created uncertainty among key U.S. allies, and raised pressure on the global economy. Speaking alongside Costa, von der Leyen said the trade talks with Washington were now focussing on the details, but there was no guarantee of a deal. "That's why this is not the right moment to create uncertainty on economics. It is not the right moment to create problems on trade, because we need to strengthen our economic basis," Costa said. "We are talking about the most relevant trade relations in the world, then we need to protect this and focus on what is the most important which is to have a good agreement between the EU and the United States about the burden sharing on defence." Underscoring Costa's comments, von der Leyen said the G7 had to avoid protectionism. "This is an important message. A message that the G7 can send to the markets and to the world," she said.
Yahoo
5 days ago
- Business
- Yahoo
Not the time to mess with EU-US trade, EU's Costa says
By John Irish KANANASKIS, Alberta, Reuters) -Europe and the United States should focus on how the bloc takes more responsibility for its defence rather than creating economic uncertainty through trade tensions, European Union President Antonio Costa said on Sunday. Speaking to reporters with European Commission President Ursula von der Leyen ahead of a gathering of G7 leaders in the Canadian Rockies, Costa said the two days of meetings provide an opportunity to talk about "some problems" between the allies and friends. "The main issue between Europe and the United States is precisely about European defence, and we should focus on (this)," Costa said, referring to Washington's rebalancing of foreign policy towards countering China. "Because this is the main issue we should avoid introducing other issues that undermine our economic capacity to assume greater responsibility on our own defence." U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Trump's haphazard imposition of tariffs across the world has created uncertainty among key U.S. allies, and raised pressure on the global economy. Speaking alongside Costa, von der Leyen said the trade talks with Washington were now focussing on the details, but there was no guarantee of a deal. "That's why this is not the right moment to create uncertainty on economics. It is not the right moment to create problems on trade, because we need to strengthen our economic basis," Costa said. "We are talking about the most relevant trade relations in the world, then we need to protect this and focus on what is the most important which is to have a good agreement between the EU and the United States about the burden sharing on defence." Underscoring Costa's comments, von der Leyen said the G7 had to avoid protectionism. "This is an important message. A message that the G7 can send to the markets and to the world," she said. 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 National
12-06-2025
- Business
- The National
Israel cancels Palestinian bank waiver and Syria announces swimwear directives
Israeli and Palestinian banks are no longer able to work together. A new Syrian dress code is drawing mixed reactions in the country. The US and China say they have agreed to a plan for de-escalating trade tensions. On today's episode of Trending Middle East: Bezalel Smotrich blocks Israeli and Palestinian banks from working together Syria tells women to dress modestly on public beaches A fragile truce reached during US-China trade talks This episode features Mina Aldroubi, Senior Foreign Reporter, and Manus Cranny, Geo-Economics Editor. Editor's Note: We want to hear from you! Help us improve our podcasts by taking our two-minute listener survey. Click here.
