Business

As European leaders attend an EU-China summit in Beijing, the issue of tariffs on Chinese electric vehicles entering the single market is one of the items on the agenda. Brussels has imposed tariffs on Chinese manufacturers such as Zeekr because of what it considers to be unfair trade practices. In this edition, we talk to Lothar Schupet, acting CEO of Zeekr Europe, about the effect of these trade restrictions on its business.

After months of negotiations, the US has reached a trade deal with Japan. US President Donald Trump celebrated the agreement on tariffs in a social media post, while Japan's Prime Minister Shigeru Ishiba hailed the deal, which sets duties on Japanese exports to the US at a rate of 15 percent. In this edition, we look at what exactly has been announced by both sides and what it means for Japan's auto sector, which is responsible for a quarter of all exports to the US.

Trade negotiations between Washington and Brussels are continuing ahead of an August 1 deadline, when US President Donald Trump has vowed to impose 30 percent tariffs on nearly all goods imported from the European Union. Both sides are looking to carve out exemptions for key sectors, such as aviation or pharmaceuticals. Also in this edition: German car sector companies are looking to benefit from the country's sudden increase in defence spending.

Chinese Premier Li Qiang attended a ceremony on Saturday marking the start of construction for a new $167 billion mega dam project in Tibet. The project aims to boost the national economy as well as increase the country's capacity to produce clean energy, but it raises risks to biodiversity and to relations with India. Also in this edition, we look at the success of Barcelona's tourist tax scheme.

US Senate Republicans have voted to cut $9 billion from public broadcasting and foreign aid – a victory for US President Donald Trump, who has repeatedly criticised PBS and NPR. Meanwhile, Trump is scaling up his pressure campaign against Fed Chair Jerome Powell and taking credit for an ingredient swap at Coca-Cola. 

Donald Trump told reporters on Wednesday that it was "unlikely" he would fire the chairman of the US Federal Reserve, after reportedly floating the idea to Republican lawmakers. The US president has repeatedly criticised Jerome Powell for not lowering interest rates fast enough, but is constrained in his ability to dismiss him. Also in this edition, Brazil calls for "urgent talks" with Washington over looming 50 percent tariffs that are set to take effect on August 1.

The US Bureau of Labor of Statistics will be releasing its June inflation data this Tuesday, with economists forecasting a slight uptick in consumer prices because of the impact of tariffs. FRANCE 24 spoke to Nela Richardson, Chief Economist at ADP, about the impact of import duties on US inflation. Also in this edition: the French government considers a spending freeze in a bid to find €40 billion in savings and cut the deficit.

US President Donald Trump has unveiled a sweeping new round of tariffs targeting eight countries, with Brazil hit the hardest. The move, which comes despite a US trade surplus with the South American giant, raises economic and political tensions as the August 1 implementation date looms. Meanwhile in corporate news, Nvidia has become the first publicly traded company to surpass a $4 trillion valuation, overtaking the size of France's entire GDP.

US e-commerce giant Amazon has expanded its "Prime Day" promotional event this year to four days, in a bid to give shoppers "more time to shop and save". US President Donald Trump's global trade war has increased the threat of higher prices for US shoppers. While forecasts show another record year for sales, other indicators are highlighting cautious consumer sentiment. Also in this edition: Trump's 50 percent tariff threat on all copper imports could hurt global producers like Zambia.

US President Donald Trump announces a 50% tariff on copper after sending tariff letters to 14 different trading partners. Also, Bulgaria is set to adopt the euro on January 1, 2026. Plus, France's parliament approves a controversial bill on agriculture which brings back a pesticide that was banned in 2020.