Trump faces backlash from European leaders over fresh tariffs; Meloni, Macron condemn tariff threats
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Time of India
42 minutes ago
- Time of India
US allies want to redraw trade map, sans US
Trucks crossing into the US via a border bridge in Ciudad Juarez, Mexico (Picture credit: NYT) Trade chaos is forcing America's allies closer together, and further from the US. And as that happens, the European Union is trying to position itself at the centre of a new global trade map. The bloc learned this weekend that Washington would subject it to 30% tariffs starting Aug 1. Ursula von der Leyen, the president of the EU executive branch, responded with a pledge to keep negotiating. She also made it clear that, while the EU would delay any retaliation until early Aug, it would continue to draw up plans to hit back with force. But that was not the entire strategy. Europe, like many of the US' trading partners, is also looking for more reliable friends. "We're living in turbulent times, and when economic uncertainty meets geopolitical volatility, partners like us must come closer together," von der Leyen said on Sunday in Brussels at a news conference alongside the Indonesian president, Prabowo Subianto. Just as President Trump threatens to put hefty tariffs on many countries, including Indonesia, the EU is working to relax trade barriers and deepen economic relations. "In hard times, some turn inward, toward isolation and fragmentation," von der Leyen said. Then, in a message implicitly extended to world leaders who have been jolted by Trump's tariffs, she added, "You are always welcome here, and you can count on Europe." It is a split screen that is becoming typical. On one side, the US sows uncertainty as it blows up weeks of painstaking negotiations and escalates tariff threats. On the other, the 27-nation EU and other American trading partners are forging closer ties, laying the groundwork for a global trading system that revolves less and less around an increasingly fickle US. It will be hard to move away from the US, and Prabowo predicted that America would always be a world leader. But many American trading partners now feel that they are left with little choice but to diversify. Trump has announced 30% tariffs on EU and Mexico. Canada's rate is 35%. The likes of Thailand (35%), Bangladesh (35%) and Brazil (50%), along with dozens of other US trading partners, appear to be headed for a similar fate. Trump has backed down from threatened tariffs before, and he has indicated a willingness to negotiate these tariffs down before their Aug 1 effective date - and the EU and other economies are poised to continue with negotiations. But the atmosphere is increasingly hostile. Hitting back would be just a first step; drawing closer to outside allies may prove even more meaningful in the long run. Since Trump's push to reorder the trading system kicked off in Feb, the EU has been hustling to strike new trade agreements and deepen existing ones. Canada and the EU have pulled together. Britain and the EU have had a rapprochement, five years after Britain officially exited the union. The bloc is working toward closer trading relationships with India and South Africa, and with countries across South America and Asia. Nor is the EU the only global power adopting such a strategy. Canada is also drawing closer to Southeast Asia, while Brazil and Mexico are working to deepen their ties. Officials have even floated the idea of building trading structures that exclude the US and China, which is widely blamed for supporting its factories to the point that they overproduce and flood global markets with cheap goods. Von der Leyen recently suggested that Europe could pursue a new collaboration between the bloc and a trading group of 11 countries that includes Japan, Vietnam and Australia, but that notably did not include the US or China. One key question, analysts said, is whether America's allies will go a step further. Instead of simply collaborating more with one another and leaving the US out, could they actually gang up to counter the US? Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
42 minutes ago
- Time of India
France announces agreement to give New Caledonia more autonomy
'A bet on Trust': France annexed New Caledonia, a collection of Pacific islands with a population of about 270,000, in 1853 and populated it with white settlers. Indigenous Kanaks now make up about 40% of the population, while Europeans account for a quarter (NYT) France and New Caledonia announced an agreement Saturday that would give the semiautonomous Pacific territory more freedoms but stops short of granting it independence, more than a year after violent and deadly protests there against French rule. The agreement would create the "State of New Caledonia" within the French Republic, according to the 13-page document. The state would be enshrined in France's Constitution, and other nations would be allowed to recognize it. "A State of New Caledonia within the Republic: It's a bet on trust," President Emmanuel Macron of France said on social media. The agreement must be approved by both the French parliament and the people of New Caledonia, a collection of Pacific islands with a population of about 270,000. It concludes a tense negotiation involving the French government and the territory's pro- and anti-independence groups. Last year, there were protests and riots in New Caledonia over a proposed amendment to the French Constitution that some Indigenous Kanak people feared would dilute their voting power and hamper their aspiration for independence. Seven people died in the riots, many more were injured, and businesses suffered hundreds of millions of dollars in losses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Đây có thể là thời điểm tốt nhất để giao dịch vàng trong 5 năm qua IC Markets Tìm hiểu thêm Undo France declared a state of emergency for the territory, which has large reserves of nickel and is a crucial foothold for France in a region where China is asserting its influence. Hundreds of armed French police officers were mobilized. Macron denounced the protests at the time as an "insurrection movement" and called on pro- and anti-independence groups to negotiate an agreement that would be submitted for approval by a popular referendum in New Caledonia. The agreement announced Saturday would create a New Caledonian nationality and allow for residents to hold dual French and New Caledonian nationality. French citizens who have lived in New Caledonia for 10 years would "acquire" New Caledonian nationality. That provision appears to be addressing the discontent that led to the 2024 riots: the French government's backing of a constitutional amendment that would give voting rights to some people who had moved to the territory after 1998. Voting had been put off for more than two decades after the French government agreed in the 1980s to hold an independence referendum, following armed conflict that claimed dozens of lives. Authorities also agreed to freeze the rolls so that new arrivals, who were thought to be more likely to support French rule, would not sway the vote. Tensions have simmered for decades in the territory over long-standing social inequality and the prospect of independence. France annexed New Caledonia in 1853 and populated it with white settlers. Indigenous Kanaks now make up about 40% of the population, while Europeans make up about a quarter. The territory held three independence referendums from 2018 to 2021; all were voted down. Discontent bubbled in 2021 when Macron insisted on holding the third referendum despite pleas from Kanak leaders to delay it because of the coronavirus pandemic. Many Kanak leaders called for a boycott of the vote and have since refused to accept the results, in which 97% of voters wanted the territory to stay in France but just 44% of the population voted. Previous referendums passed with higher voter turnout but smaller margins.
Indian Express
an hour ago
- Indian Express
Trump to make unprecedented second state visit to UK in September
US President Donald Trump will make an unprecedented second state visit to the UK between Sept. 17 and 19 when he will be hosted by King Charles II and Queen Camilla at Windsor Castle, Buckingham Palace said Monday. Trump, who is a big supporter of the royal family, particularly of the monarch, will be accompanied by his wife, Melania Trump during the three-day visit, the palace confirmed. No US president has been invited for a second state visit. Trump previously enjoyed the pomp and pageantry of the state visit in 2019 during his first term when he was hosted by Charles' late mother, Queen Elizabeth II. The invitation for the second state visit from the king was hand-delivered by British Prime Minister Keir Starmer in February during a meeting at the White House. After reading it, Trump said it was a 'great, great honor' and appeared particularly pleased by the fact he will be staying at Windsor Castle, to the west of the capital. 'That's really something,' he said. Precedent for second-term U.S. presidents who have already made a state visit is usually tea or lunch with the monarch at Windsor Castle, as was the case for George W. Bush and Barack Obama. State visits are ceremonial meetings between heads of state that are used to honor friendly nations and sometimes smooth relations between rivals. While the king formally issues the invitation for a state visit, he does so on the advice of the elected government. The visit is seen as part of Starmer's effort to keep Trump close and lessen the impact of some of his polices on the U.K. The relationship between the two appears amicable, and has helped the U.K. from facing the sort of hefty U.S. tariffs that other nations are seeing. But like Trump's previous visit, it's unlikely he will be welcomed by all. Last time, a day of protests saw the flying of a giant blimp depicting Trump as an angry orange baby from outside Parliament. Lawmakers from Starmer's Labour Party have also questioned whether the honor should be extended to Trump at a time that he is supporting Israel's war in Gaza and threatening the sovereignty of allies such as Canada and Greenland. Charles could also face some challenges during the visit because he is head of state of both the United Kingdom and Canada, which Trump has suggested should become the 51st U.S. state. During a speech to the Canadian parliament in May the king highlighted Canada's 'unique identity' and 'sovereignty,' while echoing the words of the country's national anthem when he said 'The True North is indeed strong and free.' State visits to Britain are particularly prized by heads of state because they come with a full complement of royal pomp and circumstance, including military reviews, carriage rides and a glittering state banquet hosted by the monarch. The events normally take place in and around Buckingham Palace in central London. But like last week's state visit from French President Emmanual Macron and his wife Brigitte, the Trumps will stay at Windsor Castle. Buckingham Palace is undergoing extensive remodeling.
