Latest news with #BGA
Local Germany
2 days ago
- Automotive
- Local Germany
German Chancellor Merz welcomes EU trade deal with US
"We have thus managed to preserve our fundamental interests, even if I would have wished for more relief in transatlantic trade," he said in a statement released soon after the deal was announced. The agreement sets 15-percent tariffs on most exports from the European bloc. The United States is Germany's main trading partner. Advertisement Merz said he was particularly relieved for the car industry, which before Sunday's accord was facing tariffs of 27.5 percent. In addition to cars, Germany's chemical and machinery industries are particularly dependent on exports to the United States. And Germany's powerful BDI federation of industrial groups said the accord would have "considerable negative repercussions" and sent "a fatal signal to the closely interdependent economy on both sides of the Atlantic". Germany's chemical trade association VCI said the accord left rates "too high". "When one expects a hurricane, you rejoice at a simple storm," it said in a statement. "An escalation was avoided, but the cost is high for both sides." The country's BGA exporters association called it a "painful compromise" that creates an "existential threat" for many companies. Clemens Faust, head of the prestigious IFO economic institute, said the agreement represented a "humiliation for the EU that reflects the imbalance in power". There are still many details in the accord that need to be ironed out, and the Chancellor expressed his "full support" for the European Commission "for the negotiations that will now begin". German Finance Minister Lars Klingbeil said the agreement was "a good thing as a first step. "We will now assess the outcome of the negotiations and its impact on the economy and employment in Germany," he added. READ ALSO: Impact of US tariffs varies across European Union
Cision Canada
5 days ago
- Business
- Cision Canada
Bybit's $1M EthicHub Investment shifts 100 tons of LATAM coffee to higher-value markets
DUBAI, UAE, July 25, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is reporting significant progress in its strategic partnership with EthicHub, a project supported by Blockchain for Good Alliance (BGA), focused on improving financial inclusion and market access for small holder coffee farmers. During ETHCC week in Paris, Ben Zhou, Co-founder and CEO of Bybit met with EthicHub co-founders Jori Armbruster and Gabriela Chang Valdovinos to review the impact of Bybit's $1 million liquidity investment, announced earlier this year. The collaboration aims to empower rural communities through decentralized finance and sustainable trade opportunities. Driving Growth Through Blockchain Solutions Bybit's $1 million liquidity investment is already fueling measurable results. To date, EthicHub has facilitated more than $5 million in loans across its network, maintaining a default rate below 3 percent, fully covered to protect lenders. The platform has also enabled the sale of over 300 tons of coffee, generating more than $2 million in revenue, and directly supporting more than 10.000 coffee farmers in LATAM. So far, 40 percent of Bybit's investment has been deployed in two high-impact projects: Cosechando Riqueza (Chiapas, Mexico): supported 25 families cultivating 70 hectares of high-quality coffee, promoting agroforestry in regions historically affected by violence. Costal Campesino (Cauca and Nariño, Colombia): helped 22 families producing "Café de Paz," or Peace Coffee — a sustainable alternative for former guerrilla fighters transitioning from coca cultivation to coffee farming. Coffees from these projects are expected to reach European markets starting in August, with a projected increase in sales beginning in September. Shipments of these coffees to Europe are scheduled to begin in August, with sales projected to reach approximately $1.3 million in the months ahead. "EthicHub's model is a powerful example of how blockchain technology can create real economic opportunities and resilience for farming communities that have long been underserved," said Freya Chen, Executive Director at the Blockchain for Good Alliance (BGA)."The results we're seeing — millions in loans, strong repayment rates, and growing coffee sales — prove that decentralized finance can deliver measurable benefits on the ground." #Bybit / #TheCryptoArk / #BGA About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at About EthicHub EthicHub is a decentralized crowdfunding platform designed to connect smallholder farmers in emerging economies with ethical lenders and conscious roasters worldwide. Using blockchain technology, EthicHub offers fair credit and market opportunities to communities underserved by traditional financial systems.
Reuters
10-07-2025
- Business
- Reuters
German exporters don't want US trade deal 'at any price', says trade group
BERLIN, July 10 (Reuters) - German exporters do not want a deal at any price in the trade conflict with the United States, said Dirk Jandura, head of the BGA trade lobby. "Our interests must be reflected in an agreement with the U.S.," Jandura said on Thursday in Berlin. "We need a fair deal for the whole of Europe. It must not be concluded at any price." The European Commission aims to reach a trade agreement outline with the U.S. in the coming days, ahead of the August 1 deadline set by President Donald Trump for broad tariff increases. Jandura, President of the Federation of German Wholesale, Foreign Trade and Services (BGA), called for a stronger European single market to improve the EU's negotiating position and to cushion the economic impact of tariffs, alongside new trade agreements or the revision of existing ones. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros ($296.77 billion). Exports to the United States dropped 7.7% in May month on month, following a 10.5% decline in April, data showed on Tuesday. "The situation in foreign trade is dramatic and threatens to get worse," said Jandura. "The consequences of Trump's tariff policy are thus becoming ever clearer." ($1 = 0.8525 euros)
Yahoo
10-07-2025
- Business
- Yahoo
German exporters don't want US trade deal 'at any price', says trade group
By Rene Wagner and Maria Martinez BERLIN (Reuters) -German exporters do not want a deal at any price in the trade conflict with the United States, said Dirk Jandura, head of the BGA trade lobby. "Our interests must be reflected in an agreement with the U.S.," Jandura said on Thursday in Berlin. "We need a fair deal for the whole of Europe. It must not be concluded at any price." The European Commission aims to reach a trade agreement outline with the U.S. in the coming days, ahead of the August 1 deadline set by President Donald Trump for broad tariff increases. Jandura, President of the Federation of German Wholesale, Foreign Trade and Services (BGA), called for a stronger European single market to improve the EU's negotiating position and to cushion the economic impact of tariffs, alongside new trade agreements or the revision of existing ones. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros ($296.77 billion). Exports to the United States dropped 7.7% in May month on month, following a 10.5% decline in April, data showed on Tuesday. "The situation in foreign trade is dramatic and threatens to get worse," said Jandura. "The consequences of Trump's tariff policy are thus becoming ever clearer." ($1 = 0.8525 euros) Sign in to access your portfolio
Yahoo
10-07-2025
- Business
- Yahoo
German exporters don't want US trade deal 'at any price', says trade group
By Rene Wagner and Maria Martinez BERLIN (Reuters) -German exporters do not want a deal at any price in the trade conflict with the United States, said Dirk Jandura, head of the BGA trade lobby. "Our interests must be reflected in an agreement with the U.S.," Jandura said on Thursday in Berlin. "We need a fair deal for the whole of Europe. It must not be concluded at any price." The European Commission aims to reach a trade agreement outline with the U.S. in the coming days, ahead of the August 1 deadline set by President Donald Trump for broad tariff increases. Jandura, President of the Federation of German Wholesale, Foreign Trade and Services (BGA), called for a stronger European single market to improve the EU's negotiating position and to cushion the economic impact of tariffs, alongside new trade agreements or the revision of existing ones. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros ($296.77 billion). Exports to the United States dropped 7.7% in May month on month, following a 10.5% decline in April, data showed on Tuesday. "The situation in foreign trade is dramatic and threatens to get worse," said Jandura. "The consequences of Trump's tariff policy are thus becoming ever clearer." ($1 = 0.8525 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
