Latest news with #MarošŠefčovič
Irish Times
3 days ago
- Business
- Irish Times
EU and US ‘knee deep' in talks to avert trade war, says McGrath
The European Union's chief negotiators and their counterparts in the US are 'knee deep' in talks to avert a trade war , Ireland's EU commissioner Michael McGrath has said. Officials are involved in tense discussions to lay out the bare bones of a deal acceptable to both sides that would head off the crippling 50 per cent tariffs US president Donald Trump has threatened to levy on EU trade after a July 9th deadline . The EU wants tariffs charged on goods sold to the US to be 'zero or as low as possible', Mr McGrath said on Wednesday. 'It won't surprise anyone that negotiations are detailed, protracted and quite challenging.' A blanket 10 per cent levy on imports from the EU has been in place since early April. Mr Trump paused plans for higher tariffs on EU states and other trading partners following a backlash in the financial markets. READ MORE Officials in Brussels have privately begun to accept that a deal that avoids steeper tariff rates is likely to mean accepting 10 per cent import duties. 'We do not believe the tariffs are the solution, so we're not conceding that any particular level of tariff represents a new baseline, it's a negotiation which is ongoing,' Mr McGrath said. The former minister for finance said EU trade commissioner Maroš Šefčovič was 'knee deep' in talks with the Trump administration. A EU-US deal might not be fully worked out before Mr Trump's stated tariff deadline in two weeks' time, he said. 'It may not be possible to have the level of detail that you would normally have in a trade agreement completed by July 9th, but hopefully we can have the outline of an agreement that can provide the stability we need,' Mr McGrath said. The European Commission, the EU's executive arm that sets trade policy, was busy lining up trade deals with other countries, he said. However, those would never be enough to 'replace' the US, given it was Europe's biggest trading partner. [ EU readies retaliatory tariffs to secure better trade deal with Trump Opens in new window ] Separately, what was happening on the ground in Gaza was 'abhorrent and untenable', the EU commissioner for justice said. Thousands of trucks full of food and aid were blocked by Israel at the border, while images continued to emerge of Palestinian civilians who were 'clearly malnourished and emaciated', he said. The role of the commission when it came to foreign policy was often 'misunderstood', Mr McGrath said. The main obstacle to the EU taking firmer action against Israel was a lack of agreement between the EU's 27 national capitals. 'It isn't open to the commission to set a new position in relation to Israel and Gaza,' he said. 'Israel of course has the right to defend itself and has the right to respond to the horrific terrorist attack Hamas perpetrated on October 7th, [2023], but it has to do so in a manner that is consistent with international law,' Mr McGrath said. More than 55,000 Palestinians have been killed during Israel's 20-month invasion of Gaza, which followed attacks by Hamas militants in southern Israel, where about 1,200 people were killed and 250 taken hostage. International aid agencies continue to warn that Israel is blocking enough aid from getting into Gaza. Large numbers of people have been shot by Israeli forces while trying to pick up food and supplies at designated distribution points since Israel took over effective control of aid distribution in recent weeks. 'The international community has to work together to find a solution. We need an urgent ceasefire and we need the trucks that are waiting at the border to be allowed to enter Gaza,' Mr McGrath said.
Yahoo
5 days ago
- Business
- Yahoo
EU limits Chinese companies' access to public medtech contracts
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. The European Commission said late last week it will exclude Chinese suppliers from participating in government purchases of medical devices worth more than 5 million euros ($5.8 million). In addition, no successful bids can have more than 50% of inputs from China. The decision to limit Chinese companies in the European Union's public procurement market is a response to China's longtime exclusion of EU-made medical devices from Chinese government contracts, the commission said. The action, which follows a vote by EU member states to support restrictions, is intended to incentivize China to end discrimination against EU companies, according to a statement. 'Our aim with these measures is to level the playing field for EU businesses,' Maroš Šefčovič, commissioner for trade and economic security, interinstitutional relations and transparency, said in the statement. 'We remain committed to dialogue with China to resolve these issues.' An investigation into China's public procurement practices, launched last year as the first under the EU's three-year-old International Procurement Instrument, concluded in January that China unfairly prevented EU-based medical device suppliers from accessing its market through policies that favored local companies. Chinese exports of medical devices to the EU more than doubled between 2015 and 2023, the investigation found, while China erected barriers to 87% of its public medtech contracts. The concern was raised 'repeatedly' with Chinese authorities without a satisfactory solution, the commission said, adding that it remains committed to talks to address China's discriminatory practices. The EU introduced the IPI in 2022 as a tool to promote access for EU companies in global public procurement markets. Recommended Reading MedTech Europe urges EU to exclude devices, diagnostics from trade war 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
Yahoo
20-06-2025
- Business
- Yahoo
EU imposes medical device procurement restrictions on Chinese firms
The European Commission (EC) will restrict Chinese companies from EU government purchases of medical devices exceeding €5m ($5.7m). The move comes after a report found that 87% of public procurement contracts for medical devices in China were subject to 'exclusionary and discriminatory measures' and practices against EU-made medical devices and EU suppliers. In addition, Chinese entities will now be restricted from around 60% of annual spending within the medical device field, with EU contracting authorities now ordered to ensure that up to 50% of a contract's value is subcontracted to Chinese entities or includes Chinese-origin medical devices. Initiated in April 2024 with the findings published in January 2025, the report guiding the EU's decision marked the first investigation under the EU's International Procurement Instrument (IPI) regulation of 2022, a law created to promote reciprocity in access to international public procurement markets. China is the second-largest medtech market worldwide. The EU's investigation concluded that Chinese policies, including its 'Made in China 2025' economic roadmap, favoured domestic medical devices over imported ones by design. The EC also observed that China's volume-based procurement of medical devices forces bidders to offer the lowest possible price, and that the contracting authorities set a maximum reference price and maximum price margins for bid selection. The commission stated that the European procurement market is still one of the most open in the world, highlighting that Chinese medical device exports to the EU more than doubled between 2015 and 2023. The EC stated that it had made repeated efforts to engage with Chinese authorities regarding the lack of reciprocity and to seek a constructive and fair solution that would enable EU companies to access the Chinese market on terms comparable to those enjoyed by Chinese firms in the EU. However, the EC stated that China had 'so far not offered specific commitments that would address the discriminatory measures and practices identified'. The EC backed the restrictions earlier this month. Writing in state news outlet Xinhua, China's Ministry of Commerce (MoC) opposed the plans, branding the EU's move 'protectionist'. The ministry wrote: 'As responsible major economies, China and the EU should adhere to WTO [World Trade Organization] rules, uphold the principles of fairness, transparency and non-discrimination, address challenges through mutual openness, and resolve differences through cooperative dialogue to jointly safeguard the healthy development of China-EU economic and trade relations.' The EC stated that should China offer 'concrete, verifiable, and satisfactory solutions that effectively address the concerns identified', the IPI framework allows for the suspension or withdrawal of measures. Maroš Šefčovič, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, commented: 'Our aim with these measures is to level the playing field for EU businesses. We remain committed to dialogue with China to resolve these issues.' "EU imposes medical device procurement restrictions on Chinese firms" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
BreakingNews.ie
20-06-2025
- Business
- BreakingNews.ie
Europe's Trade Commissioner has ‘productive engagements' over US deal
Europe's Trade Commissioner says he has had a series of productive engagements throughout the week with his US counterpart. On social media, Maroš Šefčovič says no time or effort spared - their focus is on securing a forward looking deal. Advertisement Both sides are under pressure to reach a deal before July 9th, when a series of reciprocal tariffs are due to come into force. A series of productive engagements throughout this week with @USTradeRep Ambassador @jamiesongreer and Secretary @howardlutnick . No time or effort spared - our focus and priority remain clear: securing a forward-looking deal. — Maroš Šefčovič🇪🇺 (@MarosSefcovic) June 20, 2025 It comes as European shares rose on Friday after declining for three straight sessions, as a stall in the United States' involvement in the Middle East conflict helped soothe investor concerns. The pan-European STOXX 600 was up 0.6 per cent at 538.85 points. The benchmark is set to log a second consecutive weekly fall. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table. Advertisement The White House said President Donald Trump will decide within the next two weeks about whether to join Israel in the war. That helped improve market sentiment, spurring some interest in risk assets that were sold off earlier in the week on uncertainty around how long the conflict would go on. "The investors are taking a little bit more risk on their shoulders... it is perhaps because the U.S. is now giving itself two weeks and maybe some diplomatic opening window there to resolve the situation in Iran," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Banks rose 1.3 per cent, leading broader gains. Travel and leisure stocks SXTP were also up 1.3 per cent, led by a 4.8 per cent gain in Europe's largest travel operator TUI after Barclays upgraded the stock to "overweight" from "underweight". Advertisement Conversely, energy shares SXEP were at the bottom of the index with a 0.3 per cent decline but were headed for a weekly gain. Ireland Tariffs and gender-based violence on agenda for No... Read More Investors also remain wary of the approaching July 8th tariff-pause deadline, with little progress on trade deals with Washington. European Commission President Ursula von der Leyen is still aiming to reach a deal by July 9th. "Geopolitical tensions are kind of hiding the other worries in the market, which are trade negotiations being delayed with the U.S. occupied with what to do with the Middle East," said Ozkardeskaya. Trump's tariffs have been a source of turmoil and volatility in the last few months, and have already begun to upend global supply chains and threatened economic growth. Additional reporting Reuters
Euronews
20-06-2025
- Business
- Euronews
EU shuts out Chinese medical suppliers from European market
The European Commission has formally introduced restrictions previously reported by Euronews in response to what it describes as discriminatory barriers imposed by China against European medical device manufacturers. Following a detailed investigation, the Commission found "clear evidence" that China had been unfairly blocking EU-made medical devices from its public procurement market. This marks the first countermeasure taken under the International Procurement Instrument (IPI), which came into force in August 2022 to promote fair access for EU firms to procurement opportunities outside the bloc. 'Our aim with these measures is to level the playing field for EU businesses. We remain committed to dialogue with China to resolve these issues,' said Trade Commissioner Maroš Šefčovič. Under the new rules, Chinese companies are barred from bidding on public contracts for medical devices in the EU single market that exceed €5 million. Additionally, successful bids must contain no more than 50% of inputs originating from China. According to the Commission, the measures are proportionate to China's own restrictions and are designed to ensure the continued availability of critical medical equipment for EU healthcare systems. Exceptions will apply in cases where no viable alternative suppliers are available. The Commission pointed out that the decision aligns with international trade obligations, including those under the World Trade Organization (WTO), noting that the EU has no binding procurement commitments with China. EU-based medical device companies have long struggled to access China's procurement market, despite China being one of the bloc's largest export destinations for such products, accounting for 11% of exports in 2022. The Commission's investigation focused on China's government procurement law, which enforces a "Buy China" policy, requiring public institutions to prioritise domestic products and services. The probe identified several barriers faced by EU firms, including opaque approval processes, discriminatory certification practices, ambiguous national interest clauses used to exclude foreign suppliers, and unsustainable pricing requirements. According to a 2025 Commission report, 87% of public procurement contracts for medical devices in China were subject to exclusionary and discriminatory practices against EU suppliers. The new EU measures come at a delicate moment in EU-China relations, which are undergoing a cautious diplomatic reset. Both sides have intensified efforts to manage longstanding disputes amid shifting global dynamics, including the aftermath of the Trump-era trade wars and ongoing US-China tensions. A key milestone in this renewed dialogue is the upcoming EU-China Summit, now scheduled to take place in Beijing in the second half of July 2025. Meanwhile, reciprocal actions continue to define the trade relationship. China has extended its anti-dumping investigation into EU pork imports by six months, while the EU recently imposed tariffs of up to 45% on Chinese electric vehicles (EVs), reflecting a strategic pattern of targeting politically sensitive industries ahead of high-level negotiations.
