Category Archives: International trade

EU to tighten checks on goods sold by sites such as Shein and Temu

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European Commission also urges EU lawmakers to phase out exemption on customs duties for parcels under €150

Parcels sent from China by online retailers such as Shein and Temu will face strict new customs controls as part of a crackdown by the European Commission on “dangerous products” flooding the EU market.

Brussels officials also urged EU lawmakers to phase out the exemption on customs duties that is allowed for parcels under €150 (£125), which enables foreign suppliers to sell cheap goods in the bloc without paying the tax.

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China has reacted in kind to Trump’s tariffs, but a deal may still emerge

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Beijing will defend its core interests, but its initial response is more cautious than when Trump imposed levies in 2018

Moments after Donald Trump introduced tariffs of 10% on Chinese goods, Beijing retaliated with countermeasures.

China’s finance ministry put tariffs of 10-15% on imports of a range of US goods and its anti-trust regulator announced an investigation into Google. Several US companies were also added to China’s “unreliable entity” list, potentially restricting their ability to conduct business in the country.

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EU will stand up for itself in face of Trump tariffs threat, Macron says

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French president and other leaders call for cooperation with Washington but vow a robust response if needed

The EU will stand up for itself if its interests are targeted, Emmanuel Macron has said, as the bloc’s leaders urged talks – but a firm response if needed – in response to Donald Trump’s weekend threat to impose punishing tariffs.

“If our commercial interests are attacked, Europe, as a true power, will have to make itself respected and therefore react,” the French president said as he arrived for an informal defence meeting with other leaders in Brussels on Monday.

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Canada will bring ‘forceful but reasonable’ retaliation to Trump tariffs, Trudeau says

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White House has claimed goods shipped from Canada and Mexico to the US would face a 25% levy starting Saturday

Justin Trudeau says Canada will bring a “forceful but reasonable” retaliation to any tariffs imposed by the US as his country braces for the economic fallout of a trade war.

“I won’t sugarcoat it – our nation could be facing difficult times in the coming days and weeks,” Trudeau said on Friday while speaking to an advisory council on Canada-US relations. “I know Canadians might be anxious and worried, but I want them to know the federal government – and indeed, all orders of government – have their backs.”

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Trump will not be ‘meteor’ blow to Irish economy, says employers’ group

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Businesses should avoid panic amid fears US will attempt to repatriate jobs and taxes, says Danny McCoy

Donald Trump will not be a knockout “meteor” to Ireland’s economy despite its heavy reliance on US multinationals, the head of the country’s business trade organisation has said.

While the US president told world leaders gathered at Davos last week that “Europe treats us very, very unfairly” there is a heightened sense of nervousness in Ireland that this could translate to an attempt to repatriate jobs and taxes from the 950 US companies there.

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Tesla takes EU to court over tariffs on EVs made in China

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Elon Musk’s company still imports large number of cars into Europe from its Shanghai factory

Tesla has filed a complaint against the European Commission after the imposition of tariffs by the bloc on its Chinese-made electric vehicles.

The EU announced its decision to impose tariffs on all imports of Chinese electric cars in June, alleging that the Chinese government had provided unfair state subsidies to manufacturers in order to win a dominant position in the emerging industry. EU leaders approved the tariffs in October.

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Trump threatens 10% tariff on China and considers EU levy

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Yuan and Chinese stocks fall despite suggestion of lower tariff than president mentioned during campaign

Donald Trump has threatened to impose a 10% tariff on Chinese-made goods arriving in the US from as early as 1 February, adding that he was also considering levies on imports from the EU.

Ordering an investigation into US-China trade on his second day in office, Trump said any penalties on Chinese goods would be “based on the fact that they’re sending fentanyl to Mexico and Canada”.

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Halt illegal imports of conflict minerals from DRC, campaigners urge EU

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Law to stop armed groups profiting from trade in gold, tin, tungsten and tantalum is being breached, rights groups say

The European Union has been urged to clamp down on illegal imports of conflict minerals from the Democratic Republic of the Congo (DRC) after evidence was found that current regulations had been breached.

The advocacy group Global Witness (GW) said there remained a “high risk” of the EU’s mineral imports being used to fund militias and state repression in several countries.

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Canada’s provincial leaders in disarray over response to Trump tariff threats

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Responses range from conciliation to retaliation, including cutting off electricity and halting the purchase of US liquor

Canada’s provincial premiers are sharply divided on how to prepare for US trade tariffs, less than a week before Donald Trump takes office with a threat to dramatically reshape the relationship between the two countries.

Canadian officials have sought to defuse the crisis with personal appeals to the president-elect, multimillion-dollar advertising sprees and targeted threats, but the country remains gripped by uncertainty over how Trump’s tariffs might take effect. On Monday, Bloomberg reported that the incoming US administration is weighing hiking tariffs by 2%-5% a month to avoid spiking inflation.

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UK bans German meat and dairy products after foot-and-mouth case

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Import of pork, lamb and beef as well as live cattle, sheep and pigs suspended amid outbreak near Berlin

Britain has banned imports of German pork, lamb, beef and dairy products to prevent foot-and-mouth disease spreading to the UK after a case of the disease was confirmed last Friday on the outskirts of Berlin.

As well as prohibiting imports of ham, bacon, salami and cheese, the measure bans the import of live cattle, sheep and pigs, along with other animals which are susceptible to foot-and-mouth. No health certificates will be issued by Britain for fresh meat from Germany.

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Rachel Reeves heads to China to build bridges, but a new golden era of relations is impossible

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Seeking business partners post-Brexit is sound policy, but even in these darker geopolitical times the UK will ultimately side with the US

Rachel Reeves will fly with a delegation of City grandees to China this week as Labour seeks closer economic links with Beijing as part of its quest for growth.

With the outlook increasingly rocky at home after a run of soft economic data, the chancellor is sorely in need of a positive story to tell.

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Trump versus trade: the global economic outlook for 2025 in five charts

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Unpredictable change will sweep through America, while old problems, from war to inflation, are likely to afflict other countries

The global economy is entering the new year with rising geopolitical tensions looming over its prospects, as the world’s leading central banks attempt to cut interest rates after the worst inflation shock in decades.

Donald Trump’s second term in the White House is expected to dominate the economic agenda. Global trade tensions are on the horizon as the president-elect threatens to impose sweeping tariffs on US imports.

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China’s share of global electric car market rises to 76%

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Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs

China’s share of the global electric vehicle market reached 76% in October, the country’s automotive trade body said, reflecting strong demand for EVs in the country even as western tariffs risk hobbling exports.

Between January and October, sales of EVs reached 14.1m units, according to the China Passenger Car Association, with 69% of those sales in China. In October, China’s share surpassed three-quarters.

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Ireland prices corporation tax loss from Trump policies at €10bn

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Figure costed for three multinationals repatriating to US after nomination for commerce secretary hits out at Ireland’s tax regime

Ireland’s prime minister has said the country could lose €10bn (£8.35bn) in corporate tax if just three US multinationals were repatriated to America under a hostile Donald Trump administration.

His remarks come just days after Trump nominated the Wall Street investor Howard Lutnick to lead the Department of Commerce with direct responsibility for trade.

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Starmer aims to build ‘pragmatic and serious relationship’ in meeting with Xi

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Prime minister wants bilateral at G20 to lead to closer ties with China, which he sees as key to faster growth

Keir Starmer will become the first UK prime minister in six years to meet the Chinese president, Xi Jinping, promising to turn the page on UK-China relations by building “a pragmatic and serious relationship”.

Starmer and the chancellor, Rachel Reeves, have been pursuing a thawing of relations with the world’s second-largest economy on pragmatic grounds, suggesting that the UK cannot achieve its growth ambitions without better terms with China.

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EU leaders vow to make bloc more competitive in face of Trump threat

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Budapest meeting finds consensus on need to raise growth and productivity as ‘America first’ protectionism looms

EU leaders meeting in Budapest have signed a declaration aimed at boosting the bloc’s ailing competitiveness – a task given added urgency by the threat of “America first” protectionist trade policies promised by the US president-elect, Donald Trump.

The bloc has too many barriers to innovation and must drastically reduce red tape, especially for startups; ramp up investment; make access to capital easier; and raise productivity, the European Commission president, Ursula von der Leyen, said on Friday.

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Post-Brexit border scheme to simplify trade put on pause again

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Single Trade Window designed to reduce friction on imports and exports will be halted until at least 2026 amid cost fears

A key part of the UK’s post-Brexit border strategy has been put on pause for more than a year amid government concerns over the cost of implementing the scheme.

The introduction of the Single Trade Window (STW), which is designed to reduce friction for traders moving goods in and out of Britain, had already been delayed from late October to January next year, but will now be halted until at least 2026.

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Trump tariffs would halve UK growth and push up prices, says thinktank

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NIESR warns British economy would be one of the worst affected by protectionist policies

UK growth is likely to be halved by Donald Trump’s victory in the US presidential race if goes on to impose the swingeing new tariffs he has threatened, a leading thinktank has warned.

The National Institute of Economic and Social Research (NIESR) said the protectionist measures planned by the Republican challenger for the White House would result in weaker activity, rising inflation and higher interest rates from the Bank of England.

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Inflation pain helped secure Trump win but his policies mean higher prices

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Markets expect his policy package to harm trade and growth but reduce business taxes

Higher share prices. A stronger dollar. A less rapid pace of interest rate cuts. The financial market reaction to Donald Trump’s return to the White House was swift and predictable.

The man who will become his country’s 47th president has made no secret of what he plans to do: cut taxes, impose heavy tariffs on imported goods, place curbs on migration, and slash red tape.

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Imported Christmas trees cost more thanks to post-Brexit checks

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Nearly all are deemed ‘high-risk’ and so will need customs declarations and phytosanitary certificates

Every year, hundreds of thousands of Christmas trees make the journey into the UK to take pride of place in living rooms across the country.

But the the cross-border operation faces a new hurdle this year. Plants coming from the EU will be subject to post-Brexit border checks that importers are warning will increase costs for sellers, and probably push up prices for consumers.

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