AFP
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How tariffs in the EU work
Customs duties, or tariffs, have become a political punching ball as the European Union prepares to respond to US President Donald Trump's recent offensive. Typically, very low customs duties are applied to oil or liquefied gas "because consumers and companies need them, and the European Union does not necessarily produce them," said Guimbard.
'Catastrophe': Volkswagen town rattled by Trump trade war
The dour mood at Germany's crisis-hit auto giant Volkswagen has given way to angst and fury as US President Donald Trump has escalated a trade war against friends and foes alike. Veteran auto workers who spent decades at the plants of Germany's storied industrial titan fear for the worst since Trump has ramped up a range of import tariffs, sparking global market turmoil.
Greek general strike hits transport and commerce
More than 15,000 people took to the streets in Greece on Wednesday in the second 24-hour general strike this year, calling for higher wages to match the rising cost of living. Although Greece saw high economic growth of 2.2 percent last year, salaries remain low despite rising taxes and inflation that hit 3.5 percent in the middle of last year.
How the EU is responding to Trump's trade assault
Hit by three waves of painful US tariffs since President Donald Trump returned to office, the European Union's response has been a high-wire act, balancing calibrated retaliation with a push for negotiations to avert an all-out trade war. He added European tech rules were "separate" from the tariff discussions.
China seeks to 'tariff-proof' economy as trade war with US deepens
China is trying to tariff-proof its economy by boosting consumption and investing in key industries, but analysts say it remains critically vulnerable to the economic storm triggered by Donald Trump's 104 percent levies on its goods.
Some US consumers in 'survival mode' as Trump tariffs arrive
American consumers braced for pain even ahead of President Donald Trump's hefty tariffs on imported products, which came into effect overnight Tuesday into Wednesday. "I am a libertarian on tariffs, always have been," he said Tuesday, adding he plans to pick up a new Apple iPhone on Wednesday in case prices rise.
Japan to sell more rice reserves as prices soar
Japan will sell more rice from its emergency stockpile through July in an attempt to stabilise soaring prices, the agricultural minister said Wednesday. "In order to stabilise rice prices that have soared, the government will sell off its reserve rice every month until this summer" when newly harvested rice enters the market, agricultural minister Taku Eto said.
Vietnam, Spain pledge to upgrade ties after tariff shock
The leaders of Spain and Vietnam pledged on Wednesday to upgrade ties to the highest level, as the two countries attempt to manage the fallout from enormous tariffs imposed by Washington.
India central bank cuts interest rates as Trump tariffs kick in
India's central bank cut interest rates in the world's fifth-largest economy on Wednesday as US President Donald Trump's tariffs kicked in and policymakers warned of "challenging global economic conditions".
AFP
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