AFP
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The risks of Trump tariffs encapsulated in a car key
They unlock vehicles with just the touch of a button, but the manufacturing of electronic car keys is anything but simple, illustrating the potential complexities and costs of US President Donald Trump's threatened tariffs. Trump's promised tariffs threaten to erode these benefits, particularly if a levy is charged multiple times.
Trump tariffs pose challenge for Europe's carmakers
US tariffs on imported cars will create a major headache for European manufacturers such as Volvo, Volkswagen and Mercedes. Half of the vehicles sold by European manufacturers in the United States are imported, according to Moody's, amounting to 785,000 cars worth $44 billion dollars in 2024.
Trump says China to face added 10% tariff starting in March
US President Donald Trump said Thursday that he would impose an added 10 percent tariff on Chinese imports while moving ahead with levies on Canada and Mexico next week, citing "unacceptable" fentanyl smuggling. Earlier this month, Trump already imposed a sweeping 10 percent tariff hike on imports from China, prompting Beijing to retaliate.
Former African leaders launch debt relief drive for poor nations
The high debt saddling the world's poorest countries needs an urgent reset to avoid multiple crises, African leaders said Thursday as they launched an initiative for debt relief and fairer borrowing terms.
EU will 'do the same' if US imposes tariffs hikes: French finance minister to AFP
French Finance Minister Eric Lombard told AFP on Thursday that the European Union would "do the same" if the United States follows through with 25 percent tariffs announced by President Donald Trump. Trump threatened Wednesday to impose 25 percent tariffs on goods imported from the European Union.
For Tour de France foreign starts are a money-spinner
As the Tour de France this week unveiled its fourth foreign start in five years in Barcelona, organisers could point to the financial logic while fending off political criticism from those who believe the world's greatest cycling race should exclusively showcase its home country. For Amaury Sport Organisation (ASO), the company that owns the Tour, the financial logic is clear.
'No need to overthink': China Tesla fans unfazed by Musk politics
Tesla founder Elon Musk's role in the Trump administration has risked isolating the firm's traditionally liberal customers in its home market but consumers in US trade rival China seemed largely indifferent on Thursday. Despite intense competition from domestic brands, chief among them BYD, Tesla remains one of the best-selling EV brands in the world's largest auto market.
Audi Brussels shuts down as Europe's auto woes deepen
An Audi factory in Brussels billed as the "cradle" of the German carmaker's electric drive is shutting down production for good on Friday, the latest sign of the woes afflicting Europe's auto industry. Audi, a subsidiary of German auto giant Volkswagen, gave several factors for closing the Brussels plant, the largest private employer in the Belgian capital.
EU's top team in India to bolster relations
The EU's top team arrived in India on an "unprecedented" visit Thursday, aiming to broaden commercial and diplomatic ties and hedge against souring relations with the United States. The visit "will send the message that Europe is shoring up other partners, including India, as much as they focus on the task of resetting EU-India ties", The Hindu newspaper reported.
AFP
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