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BRUSSELS: The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the U.S. imposition of tariffs on incoming steel and aluminium, the EU's official journal said.The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products The measures are the third part of the EU's response to U.S. tariffs. It has also imposed tariffs on 2.8 billion euros ($3.3 billion) of U.S. imports, including bourbon and motor bikes, and has launched a legal challenge at the World Trade OrganizationThe quotas for 23 steel product categories have been set at the average of imports over the past three years, with a 25 percent tariff set for volumes exceeding those amounts. These quotas are allocated on a first come first serve basis.The main exporters of steel to the EU are China, India, Russia, South Korea, Turkey and Ukraine.The Commission said that the EU steel industry was "in a fragile … [Read more...] about EU to curb steel imports after Trump tariffs

Recent reports have indicated that the prospect of the United Kingdom and the European Union reaching a deal before the end of the transition period is increasingly unlikely, meaning that the British could leave at the end of the year and begin trading with the bloc on World Trade Organization (WTO) terms. … [Read more...] about Boris’s EU Withdrawal Agreement May Include £160 Billion In EU Loan Bills

Alphabet unit Google's bid to take on Apple and Samsung in the wearable technology market by buying Fitbit hit a hurdle as EU antitrust regulators launched an investigation into the $2.1 billion deal. The move by the European Commission came despite Google's pledge last month not to use the fitness tracker's data for advertising purposes in a bid to address competition concerns. The EU antitrust enforcer said the data pledge was insufficient to allay its worries. "The proposed transaction would further entrench Google's market position in the online advertising markets by increasing the already vast amount of data that Google could use for personalisation of the ads it serves and displays," the Commission said. It singled out online search and display advertising services and ad tech services, where analytics and digital tools are used in digital advertising, as two areas that would be affected by the deal. It said data collected via wrist-worn wearable devices appeared to be … [Read more...] about Google’s $2.1 billion Fitbit deal hits roadblock as EU opens probe

France's President, Emmanuel Macron, issued tweets in French and then in Arabic. "I express my brotherly solidarity with the Lebanese people after the explosion," Macron said, adding that French aid and resources had already been dispatched towards Beirut. … [Read more...] about Condolences pour in for Lebanon after Beirut blast

Also according to the World Bank’s report, although the Vietnamese economy suffered from COVID-19 in the first half of 2020, prospects remain positive for both the short and medium term. If the world situation gradually improves, economic activity should rebound in the second semester of 2020 such that the economy will grow by around 2.8 percent for the entire year, and by 6.8 percent in 2021. With less favourable external conditions, the economy will expand by only 1.5% in 2020 and 4.5% in 2021. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 4