logo
Exclusive-Apple set to stave off daily fines, EU to accept App Store changes, sources say

Exclusive-Apple set to stave off daily fines, EU to accept App Store changes, sources say

CNA5 days ago
BRUSSELS :Apple's changes to its App Store rules and fees will likely secure the green light from EU antitrust regulators, people with direct knowledge of the matter said, a move that would stave off potentially hefty daily fines for the iPhone maker.
The company last month said developers will pay a 20 per cent processing fee for purchases made via the App Store, though the fees could go as low as 13 per cent for Apple's small-business program.
Developers who send customers outside the App Store for payment will pay a fee between 5 per cent and 15 per cent. They will also be able to use as many links as they wish to send users to outside forms of payment.
Apple made the changes after the EU antitrust enforcer handed it a 500 million euro ($586.7 million) fine in April and gave it 60 days to comply with the Digital Markets Act aimed at reining in Big Tech and giving rivals more room to compete.
The European Commission is expected to approve the changes in the coming weeks, although the timing could still change, the people said.
"All options remain on the table. We are still assessing Apple's proposed changes," the EU watchdog said.
Apple did not immediately respond to a request for comment. The company earlier this month said it had implemented the changes to avoid punitive daily fines, while criticising the Commission for mandating how it runs its store.
The company could have been hit with daily fines of 5 per cent of its average daily worldwide revenue, or about 50 million euros per day.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump Reveals Striking 'Very Powerful Deal' With EU, With Europeans Agreeing to Buy $750 Billion Worth of US Energy and Pay 15% Tariffs
Trump Reveals Striking 'Very Powerful Deal' With EU, With Europeans Agreeing to Buy $750 Billion Worth of US Energy and Pay 15% Tariffs

International Business Times

timean hour ago

  • International Business Times

Trump Reveals Striking 'Very Powerful Deal' With EU, With Europeans Agreeing to Buy $750 Billion Worth of US Energy and Pay 15% Tariffs

President Trump announced a sweeping new preliminary trade deal with the European Union, under which the 27-nation bloc has committed to buying $750 billion worth of American energy and boosting its investment in the U.S. by an additional $600 billion beyond existing levels. The United States will implement a 15% tariff on the majority of goods imported from the European Union. Trump announced the agreement shortly after holding talks with European Commission President Ursula von der Leyen at his Turnberry resort. "I think it's the biggest deal ever made," Trump said. The deal will bring much relief to investors who had been reeling under fears of a global trade war. Trump Does It Gain Trump and EC president Ursula von der Leyen X "I think we both wanted to make a deal," the president added. "It's going to bring us closer together. I think this deal will bring us very close together." As part of the deal, Europe also agreed to "purchase a vast amount of military equipment" from the US, though Trump noted, "We don't know what that number is" yet. Trump and von der Leyen shook hands and praised one another for reaching the deal, but remained vague about what the U.S. had given up in return. "The starting point was an imbalance — a surplus on our side and a deficit on the US side," the EU boss said when asked about the concessions Trump made. "And we wanted to rebalance the trade relation, and we wanted to do it in a way that trade goes on between the two of us across the Atlantic." Trump had warned that he would impose a 30 percent tariff on EU nations if the influential trading bloc didn't come to an agreement with the United States. Von der Leyen flew to Scotland to meet with Trump at his resort in an effort to finalize the deal. Just an hour before the announcement, both leaders estimated there was only a 50 percent chance of striking an agreement. Trump's Planned Move Trump and EC President Ursula von der Leyen X Prior to unveiling the deal, Trump indicated that "pharmaceuticals won't be part" in the deal, explaining that his administration intends to take a more aggressive approach to bring drug manufacturing back to the U.S. Von der Leyen praised Trump, calling him a strong negotiator and skilled dealmaker. "And fair," Trump interjected. Trump, during his informal talk with reporters on Sunday, made it clear that he has no plans to postpone the August 1 deadline for his specially designed "Liberation Day" tariffs to begin—despite having pushed it back twice before, To date, Trump has secured initial tariff agreements with the UK, Vietnam, Japan, Indonesia, and the Philippines. He also hinted that his team had recently finalized another deal but did not reveal which nation was involved. Trump currently has a variety of tariffs in place now, including a 25 percent duty on automobiles, aluminum, and steel, as well as a 25 percent tariff on imports from Canada and Mexico that don't meet the requirements of the United States-Mexico-Canada Agreement. He has also recently suggested the possibility of increasing those tariffs on both neighboring countries. In addition, Trump has agreed to a temporary tariff pause with China and has given Beijing until August 12 to finalize a broader trade agreement. Earlier this month, he issued an ultimatum to Moscow, demanding that Russia reach a peace agreement with Ukraine within 50 days or face 100% secondary tariffs on its energy exports—penalties that would apply to countries purchasing energy from Russia.

EU's von der Leyen: 15% the 'best we could get'
EU's von der Leyen: 15% the 'best we could get'

Straits Times

timean hour ago

  • Straits Times

EU's von der Leyen: 15% the 'best we could get'

Find out what's new on ST website and app. European Commission President Ursula von der Leyen sits with U.S. President Donald Trump, after the announcement of a trade deal between the U.S. and EU, in Turnberry, Scotland, Britain, July 27, 2025. REUTERS/Evelyn Hockstein PRESTWICK, Scotland - European Commission President Ursula von der Leyen defended the trade deal clinched with United States on Sunday as "the best we could get" and not to be underestimated given the looming threat of 30% tariffs that had been hanging over the EU. A baseline tariff rate of 15% on EU goods imported into the United States would apply to most goods including cars, semiconductors and pharmaceutical goods, von der Leyen said. Meanwhile, a zero-for-zero tariff rate had been agreed for certain strategic products, including aircraft and aircraft parts, certain chemicals, and certain generic drugs. No decision had been taken on a rate for wine and spirits, she added. Asked if she considered 15% a good deal for European carmakers, von der Leyen told reporters: "15% is not to be underestimated, but it is the best we could get." The European Union committed to purchasing $750 billion worth U.S. LNG and nuclear fuel over three years. "We still have too much Russian LNG that is coming through the back door," she said. The European Commission has proposed phasing out all Russian gas imports by Jan 1, 2028. "Today's deal creates certainty in uncertain times, delivers stability and predictability," von der Leyen told reporters before leaving Scotland. REUTERS Top stories Swipe. Select. Stay informed. Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Asia Singapore-only car washes will get business licences revoked, says Johor govt World Food airdropped into Gaza as Israel opens aid routes Sport Arsenal beat Newcastle in five-goal thriller to bring Singapore Festival of Football to a close Singapore Benchmark barrier: Six of her homeschooled kids had to retake the PSLE Asia S'porean trainee doctor in Melbourne arrested for allegedly filming colleagues in toilets since 2021

US, China to resume tariff talks in effort to extend truce
US, China to resume tariff talks in effort to extend truce

CNA

timean hour ago

  • CNA

US, China to resume tariff talks in effort to extend truce

STOCKHOLM: Senior US and Chinese negotiators meet in Stockholm on Monday (Jul 28) to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce keeping sharply higher tariffs at bay. China is facing an Aug 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached a preliminary deal in June to end weeks of escalating tit-for-tat tariffs. Without an agreement, global supply chains could face renewed turmoil from duties exceeding 100 percent. The Stockholm talks, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, come right on the heels of Trump's biggest trade deal yet, with the European Union accepting a 15 percent tariff on its goods exports to the US and agreeing to make significant EU purchases of US energy and military equipment. That deal struck with European Commission President Ursula von der Leyen on Sunday in Scotland also calls for US$600 billion in investments in the US by the EU, Trump told reporters. No similar breakthrough is expected in the US-China talks, but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and help create conditions for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. Spokespersons for the White House and US Trade Representative's office did not immediately respond to requests for comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or take other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before his meeting with von der Leyen, providing no further details. DEEPER ISSUES Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Stockholm will be the first meaningful round of US-China trade talks," said Bo Zhengyuan, Shanghai-based partner at China consultancy firm Plenum. Trump has been successful in pressuring some other trading partners, including Japan, Vietnam and the Philippines, into deals accepting higher US tariffs of 15 percent to 20 percent. Analysts say the US-China negotiations are far more complex and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on US industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon whether to visit China in a landmark trip to address trade and security tensions. A new flare-up of tariffs and export controls would likely derail any plans for a meeting with Xi. "The Stockholm meeting is an opportunity to start laying the groundwork for a Trump visit to China," said Wendy Cutler, vice president at the Asia Society Policy Institute. Bessent has already said he wants to work out an extension of the Aug 12 deadline to prevent tariffs snapping back to 145 percent on the US side and 125 percent on the Chinese side. Still, China will likely request a reduction of multi-layered US tariffs totaling 55 percent on most goods and further easing of US high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the US trade deficit with China, which reached US$295.5 billion in 2024. China is currently facing a 20 percent tariff related to the US fentanyl crisis, a 10 percent reciprocal tariff, and 25 percent duties on most industrial goods imposed during Trump's first term. Bessent has also said he would discuss with He the need for China to rebalance its economy away from exports toward domestic consumer demand. The shift would require China to put an end to a protracted property crisis and boost social safety nets to encourage household spending.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store