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Trade Tensions Rise as EU Prepares Retaliation Against U.S. Tariff Hike

The European Union has strongly condemned President Donald Trump's decision to double tariffs on imported steel and aluminum, warning of swift countermeasures that could escalate global trade tensions. Announced Friday near Pittsburgh, Trump raised existing steel and aluminum tariffs from 25% to 50%, aiming to protect U.S. industry and bolster a $14.9 billion Nippon Steel–U.S. Steel deal. The European Commission responded sharply, calling the move a threat to transatlantic economic stability and global supply chains. “This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” a spokesperson said. The EU is finalizing consultations on expanded retaliatory tariffs, set to take effect by July 14 unless a negotiated solution is reached. The reaction from global trade partners was swift. Canada’s Chamber of Commerce criticized the tariffs as a threat to North American economic security, while Canada’s Uni...
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Honda and Nissan Announce Merger Talks: Aiming to Become the World's Third-Largest Automaker

 In a historic move, Japanese automakers Honda and Nissan have officially announced merger talks, aiming to create the world's third-largest automaker by sales. The proposed merger, which also includes Nissan's alliance partner Mitsubishi Motors, is set to reshape the global automotive industry.

The announcement comes as both companies face intense competition in the electric vehicle (EV) market from global players like Tesla and China's BYD. Honda's president, Toshihiro Mibe, stated that the merger would allow the companies to unify their operations under a joint holding company, with Honda initially leading the new management.

Analysts believe that the merger could result in a combined entity worth over $50 billion, providing the scale needed to compete with industry giants Toyota and Volkswagen. The companies aim to finalize the merger agreement by June 2025 and complete the deal by August 2026.

This strategic move is seen as a response to the financial challenges both companies have faced in recent years, including Nissan's recent announcement to cut 9,000 jobs and reduce global production capacity by 20%. The merger is expected to strengthen their position in the EV market and enhance their capabilities in autonomous driving technology.

As the industry transitions away from fossil fuels, this merger could be a game-changer, allowing Honda and Nissan to better compete with their rivals and adapt to the rapidly changing automotive landscape.




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