GPS News  
TRADE WARS
EU eyes trade with 'reliable' partners after war shock
by AFP Staff Writers
Washington (AFP) Oct 13, 2022

The European Union is looking for trade pacts with "reliable partners" to combat supply shocks, said the bloc's trade commissioner on Thursday, pointing to its energy problems after Russia's invasion of Ukraine.

Europe is facing an energy crunch, with the price of electricity generation skyrocketing on a surge in gas prices after Moscow's invasion.

"Russia is using its energy supplies as a weapon of blackmail and manipulation," EU trade commissioner Valdis Dombrovskis told reporters in Washington after meeting US Trade Representative Katherine Tai.

Russia has cut gas supplies to Europe in suspected retaliation against Western sanctions over the war in Ukraine, and Europe's hunt for gas has grown in urgency as winter approaches.

Countries like Germany have been hit especially hard, with a large portion of gas supplies coming from Moscow prior to the Ukraine conflict.

Dombrovskis stressed the EU's need to diversify away from Russian supplies, adding that the United States has "significantly" stepped up its supply.

Norway has also become Europe's main gas supplier as Russian deliveries have fallen.

The EU needs to take similar steps of diversification with regards to raw materials and "critical minerals," Dombrovskis said.

He added that the bloc is looking into cooperating with the United States "on security of supply of raw materials (and) minerals".

Current pressures are reinvigorating the bloc's trade agenda "to work more on free trade agreements with reliable partners around the world... to better absorb these kind of supply shocks," he said.

Tai said Thursday that the pair had a "productive and positive meeting".

Asked about US moves to give American motorists a tax credit for electric vehicles -- which the EU expressed deep concern over -- Tai said she had "confidence" both sides would be able to resolve the issue but gave no details.

The European Commission previously called the tax credit "discriminatory" against foreign producers and "incompatible" with the World Trade Organization.

US officials earlier approved a clean energy and climate bill including a $7,500 tax credit for every American who buys an electric vehicle from a North American factory that installs US-made electric batteries.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Asian markets drop as traders brace for key US inflation data
Hong Kong (AFP) Oct 13, 2022
Equities fell in Asia and the dollar maintained its strength Thursday ahead of the release of crucial US inflation data that could determine the pace of Federal Reserve interest rate hikes. The release of the September report comes a day after minutes from the central bank's latest policy meeting showed officials determined to win their battle against runaway prices by ramping up borrowing costs, though they did note the risk to the economy that posed. Investors are growing increasingly worried ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
New Zealand outlines plans to tax livestock burps, farts

'Exceptional' year for Champagne despite record heat: producers

Kenya lobby groups protest lifting of ban on GM crops

Trimble's new agriculture displays provide next-generation performance and connectivity for in-field operations

TRADE WARS
Asian chipmakers plunge after US unveils China export controls

Disposable electronics on a simple sheet of paper

Asian chipmakers plunge after US unveils China export controls

US tightens chip export controls to China

TRADE WARS
NASA Poised to Break Sound Barrier in New Way

USAF Mobility Flex Procurement To release EVTOL Request For Information

Deal reached for civil aviation to try for net-zero emissions by 2050

Hazy timeframe for reaching electric plane era

TRADE WARS
Stellantis CEO says group may end China production

Chinese EV maker Nio takes on German auto titans

ZEDU-1 - The world's most environment friendly vehicle in operation

After California, New York moves to ban new gas vehicles by 2035

TRADE WARS
China delays release of economic data during key political meeting

Markets surge after sharp Wall St swing, pound holds gains

Biden to prioritize China competition amid 'dangerous' Russia

US ready to work with Xi but sees more 'aggressive' China

TRADE WARS
Amazon deforestation breaks Sept record; Scientists reach tallest tree found in Amazon

Egypt replants mangrove 'treasure' to fight climate change impacts

Romania cracks down on illegal logging

Mexican mangroves have been capturing carbon for 5,000 years

TRADE WARS
NASA extends contract with Planet Labs granting access to EO data to 300,000 scientists

Viewing Earth from space at night: tracking our changing black marble

International collaboration uses auroras to reveal a new factor that damages the ozone layer

Opening the eye of the storm

TRADE WARS
New system designs nanomaterials that conduct heat in specific ways

Physicists generate new nanoscale spin waves

'Naturally insulating' material emits pulses of superfluorescent light at room temperature

Making nanodiamonds out of bottle plastic









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.