2025-07-26 19:59
Trump sees 50-50 chance for US-EU trade pact EU must "buy down" tariffs for deal, Trump says Potential deal includes 15% tariff on EU goods EU votes for countertariffs on $109 billion of U.S. goods American Chamber warns conflict risks $9.5 trillion in trade BRUSSELS/EDINBURGH, July 26 (Reuters) - European Commission President Ursula von der Leyen headed to Scotland on Saturday ahead of a meeting with U.S. President Donald Trump on Sunday afternoon, Commission spokespeople said, as officials from both sides said they were nearing a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a highly respected leader. Sign up here. He repeated his view that there was a 50-50 chance that the U.S. and the 27-member European Union could reach a framework trade pact, adding that Brussels wanted to "make a deal very badly." If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $550 billion accord reached with Japan earlier this week. U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick also departed Washington for Scotland on Saturday to engage in high-level talks with EU officials before the meeting between Trump and von der Leyen, said an administration source who spoke on condition of anonymity. "We're cautiously optimistic that there will be a deal reached," the source said. "But it's not over till it's over." The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve countertariffs on 93 billion euros ($109 billion) of U.S. goods in case the talks collapse. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15% tariff on EU goods imported into the U.S., mirroring the U.S.-Japan deal, along with a 50% tariff on European steel and aluminum. The broad tariff rate would be half the 30% duties that Trump has threatened to slap on EU goods from August 1. To obtain a deal, Trump said the EU would have to "buy down" that 30% tariff rate, although he gave no specifics. He told reporters there was "not a lot" of wiggle room on the 50% tariffs that the U.S. is imposing on steel and aluminum imports, adding, "because if I do it for one, I have to do it for all." It remains unclear if Washington would exempt EU imports from other sectoral tariffs on automobiles, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict jeopardized $9.5 trillion of business in the world's most important commercial relationship. https://www.reuters.com/markets/commodities/eu-chief-von-der-leyen-heads-scotland-trade-talks-with-trump-2025-07-26/
2025-07-26 19:34
In Greece, 5 taken to hospitals with burns, smoke inhalation Greek fire brigade says 52 fires broke out in 24 hours Hundreds of people evacuated throughout Greece DROSOPIGI, Greece July 26 (Reuters) - Firefighters were battling wildfires across Greece and the Western Balkans on Saturday as the south of Europe sweltered under the third heatwave of the summer, with some villages and settlements being evacuated in Greece and Albania. Explosions could be heard as huge clouds of smoke covered Drosopigi village 25 km north of Athens, where factories with flammable material are located. Helicopters dropped water and 145 firefighters battled the flames, assisted by 44 vehicles, seven helicopters and 10 aircraft. Sign up here. Two houses caught fire while residents of the nearby village Krioneri were instructed by authorities to leave towards Athens. Five people were taken to hospitals over burns and smoke inhalation. Temperatures in Greece were forecast to reach up to 44 degrees Celsius on Saturday, the Greek weather service said. "In the last 24 hours alone, 52 agroforestry fires broke out, 44 of which were dealt with immediately, in their initial stage," said Vassilios Vathrakogiannis, a spokesperson for the Fire Brigade. In neighbouring Albania, 26 fires broke out throughout the country on Saturday, following a large fire near the southern Albanian town of Delvina on Friday which injured three people and forced the evacuation of about 2,000 residents. PEOPLE RESCUED FROM BEACHES On the Greek island of Evia, 128 firefighters and 29 vehicles were deployed to put out fires, assisted by six aircraft and seven helicopters, but strong winds were hampering their efforts. Residents of the island's Triada area were evacuated while two fire trucks were damaged and five firefighters injured during the operation. The fire on Evia is the latest in a series of bushfires stoked by strong winds and dry conditions this month. On the island of Kythera, residents from several settlements were evacuated to safe areas and Coast Guard forces said they rescued 138 people, including an infant, from the beach of Limnionas near the area of the fire. In the area of Messinia, south of Athens, residents of the Kryoneri and Sellas villages were also told to leave. These sites were on a list of Greek regions on high alert for wildfires due to record-breaking temperatures and strong winds due on Saturday. In Kosovo, authorities managed to extinguish 17 blazes fueled by strong winds while 12 others remained active, officials said. In the southern town of Prizren, a fire engulfed a farm, killing eight cows, according to local emergency services. Local media reported that a separate fire in eastern Kosovo killed around 40 sheep. Greece and other Mediterranean countries are in an area dubbed "a wildfire hotspot" by scientists, with blazes common during hot and dry summers. These have become more destructive in recent years due to a fast-changing climate, prompting calls for a new approach. https://www.reuters.com/business/environment/greece-battles-wildfires-across-country-evacuates-villages-2025-07-26/
2025-07-26 15:56
July 26 (Reuters) - Chinese autonomous driving technology company WeRide (WRD.O) , opens new tab said on Saturday it has been granted a permit from the Shanghai municipal government to operate autonomous robotaxi ride-hailing services. WeRide, in partnership with Chery Group and Jinjiang Taxi, will deploy fully driverless ride-hailing robotaxis on public roads in the Pudong New Area, the company said in a statement. Sign up here. https://www.reuters.com/technology/weride-receives-permit-robotaxis-shanghai-2025-07-26/
2025-07-26 10:34
BEIJING, July 26 (Reuters) - Beijing issued on Saturday a warning for geological disasters including landslides and mudslides after intense rainfall the day before, with storms circulating China's north unleashing for a second time a year's rain on nearby Baoding. The Beijing meteorological agency's alert for 10 of the city's 16 districts came as local authorities also warned of flash floods in mountainous areas. Sign up here. In neighbouring Hebei, extreme overnight rains in Fuping, a part of the industrial city of Baoding, saw records broken at a local weather station with 145 mm (5.7 inches) per hour of precipitation, state broadcaster CCTV said. The Xizhuang station recorded a maximum rainfall of 540 mm over an eight-hour period, superseding Baoding's average annual rainfall of about 500 mm. Just a day ago, storms dumped similar amounts of precipitation on Yi, another part of Baoding. The rain held destructive power, CCTV said, affecting more than 46,000 people and forcing 4,655 of them to evacuate. Northern China has witnessed record-breaking precipitation in recent years, exposing densely populated cities including Beijing to flood risks. Some scientists link the higher rainfall in China's usually arid north to global warming. China's Water Resources Ministry has issued targeted warnings to 11 provinces and regions, including Beijing and Hebei, for floods arising from small and medium-sized rivers and gushing torrents from mountains. The alert also sought to ensure that reservoirs and silt dams are safe during floods. Across the country, heavy rainfall has caused 13 rivers scattered through seven provinces to swell past their flood warning levels by as much as 1.4 m (4.6 feet), CCTV reported, citing the ministry's findings on Saturday morning. Among them, one tributary of Inner Mongolia's Dahei River and another of Shaanxi's Yanhe River recorded their biggest floods since records began. The storms are part of the broader pattern of extreme weather across China due to the East Asian monsoon, which has caused disruptions in the world's second-largest economy. In a separate bulletin, CCTV also said two small reservoirs in northeastern Jilin province were operating above the flood limit, as rivers continue to swell. Local authorities have begun activating five large reservoirs to help with flood water discharge. Extreme rainfall and severe flooding are highly monitored by Chinese authorities as they challenge the country's ageing flood defences, threaten to displace millions, and wreak havoc on a $2.8 trillion agricultural sector. https://www.reuters.com/business/environment/beijing-warns-geological-disasters-storms-lash-baoding-again-2025-07-26/
2025-07-26 05:38
SINGAPORE, July 26 (Reuters) - Thai oil and gas giant PTT Exploration and Production (PTTEP) (PTTEP.BK) , opens new tab has acquired full ownership of Block A-18 in the Malaysia–Thailand Joint Development Area (MTJDA) in a $450 million transaction with Chevron (CVX.N) , opens new tab units. PTTEP said in a statement late on Friday it signed the deal with Hess (Bahamas) and Hess Asia Holdings, both now owned by Chevron following a recent merger with Hess Corp (HES.MX) , opens new tab. Sign up here. The acquisition gives PTTEP 100% of the outstanding shares in Hess International Oil Corp, which holds a 50% participating interest in Block A-18, PTTEP said. The deal comes as Chevron restructures globally to streamline operations and reduce costs, a process that could see it lay off up to 20% of its workforce by the end of next year. Chevron is also seeking buyers for its 50% stake in its Singapore refinery, Reuters reported in June. PTTEP said natural gas from Block A-18 is fundamental to power generation for southern Thailand. The block produces about 600 million standard cubic feet of gas per day, which is equally distributed to Thailand and Malaysia. "PTTEP is pleased to further expand our operations in the MTJDA, which is recognized for its petroleum potential and strategic significance to Thailand's energy security," Chief Executive Officer Montri Rawanchaikul said in the statement. The MTJDA covers 7,250 sq km (2,800 sq miles) in the southern part of the Gulf of Thailand and is a key source of natural gas and condensate for Thailand and Malaysia, according to the statement. https://www.reuters.com/business/energy/thailands-pttep-buys-full-control-offshore-gas-block-chevron-450-million-2025-07-26/
2025-07-26 05:34
BRUSSELS, July 26 (Reuters) - Qatar has threatened to cut gas supplies to the European Union in response to the bloc's due diligence law on forced labour and environmental damage, a letter from Qatar to the Belgian government, seen by Reuters, showed. Qatar is the world's third-largest exporter of liquefied natural gas (LNG), after the United States and Australia. It has provided between 12% and 14% of Europe's LNG since Russia's 2022 invasion of Ukraine. Sign up here. In a letter to the Belgian government dated May 21, Qatari Energy Minister Saad al-Kaabi said the country was reacting to the EU's corporate sustainability due diligence directive (CSDDD), which requires larger companies operating in the EU to find and fix human rights and environmental issues in their supply chains. "Put simply, if further changes are not made to CSDDD, the State of Qatar and QatarEnergy will have no choice but to seriously consider alternative markets outside of the EU for our LNG and other products, which offer a more stable and welcoming business environment," said the letter. A spokesperson for Belgium's representation to the EU declined to comment on the letter, which was first reported by German newspaper Welt am Sonntag. The European Commission also received a letter from Qatar, dated May 13, a Commission spokesperson told Reuters, noting that EU lawmakers and countries are currently negotiating changes to the CSDDDD. "It is now for them to negotiate and adopt the substantive simplification changes proposed by the Commission," the spokesperson said. Brussels proposed changes to the CSDDD earlier this year to reduce its requirements - including by delaying its launch by a year, to mid-2028, and limiting the checks companies will have to make down their supply chains. Companies that fail to comply could face fines of up to 5% of global turnover. Qatar said the EU's changes had not gone far enough. In the letter, Kaabi said Qatar was particularly concerned about the CSDDD's requirement for companies have a climate change transition plan aligned with preventing global warming exceeding 1.5 celsius - the goal of the Paris Agreement. "Neither the State of Qatar nor QatarEnergy have any plans to achieve net zero in the near future," said the letter, which said the CSDDD undermined countries' right to set their own national contributions towards the Paris Agreement goals. In an annex to the letter, also seen by Reuters, Qatar proposed removing the section of CSDDD which includes the requirement for climate transition plans. Kaabi is also chief executive of QatarEnergy (QATPE.UL). Qatar Energy gas has long-term supply contracts with major European companies, including Shell (SHEL.L) , opens new tab, TotalEnergies (TTEF.PA) , opens new tab and ENI (ENI.MI) , opens new tab. https://www.reuters.com/sustainability/climate-energy/qatar-threatened-cut-eu-lng-supplies-over-sustainability-law-letter-shows-2025-07-26/
