EU hits Chinese EVs with up to 38% tariffs

The European Commission has announced that it will impose provisional duties on imports of Chinese electric vehicles (EVs), with rates reaching up to 38.1%. This measure is intended to address concerns about unfair competition, as Chinese EV manufacturers are alleged to benefit from significant state subsidies, allowing them to sell vehicles at lower prices in the European market. The provisional duties aim to level the playing field for European automakers and protect the European automotive industry.

The decision is likely to provoke a strong response from China, which may include stern criticism and potential retaliatory measures. China has previously indicated that it views such trade actions as protectionist and detrimental to free trade principles. The imposition of these duties could escalate tensions between the EU and China, potentially leading to a broader trade conflict.

This development is part of the broader context of increasing trade frictions between major global economies, as countries seek to protect their domestic industries while navigating the complex dynamics of international trade and competition.

Marriage scholarship

More families will get the benefit of marriage grant scheme now if the income is up to one lakh Under the marriage grant scheme, till now the income limit is Rs 56460 in cities and Rs 46080 in rural areas. At the same time, the Backward Classes Welfare Minister has ordered strict action against those who are negligent. An important change has been made in the income limit of applicants under the Backward Classes Welfare Marriage Grant Scheme of the Uttar Pradesh government. Now the annual income limit of applicants in both urban and rural areas has been increased to Rs one lakh. Minister of State (Independent Charge) for Backward Classes Welfare and Empowerment of Persons with Disabilities Narendra Kashyap said that with this change, more backward class families will get government assistance for the marriage of their daughters. The average annual income of applicants in urban areas was Rs 56,460, while in rural areas it was Rs 46,080. It has now been increased to Rs one lakh. Instruct...

WhatsApp boss in online spat with Elon Musk

WhatsApp head Will Cathcart responded to Elon Musk's claims that the messaging app exports your user data every night. In his post on platform X, Mr. Cathcart stated that this assertion is incorrect. He emphasized that WhatsApp messages are end-to-end encrypted, meaning the company cannot read them. Yann LeCun, head of AI at WhatsApp's parent company Meta, also shared his thoughts, using more technical language in his post on X, criticizing Mr. Musk's claims. On another platform Meta, Threads, Mr. LeCun continued his criticism, accusing Musk of contradictory and unrealistic statements about artificial intelligence and spreading conspiracy theories on his own social media platform. Mr. Musk has a well-known reputation for frequently getting into online conflicts, from disputes with divers to fired former employees. In this case, Mr. Cathcart is correct in stating that only the sender and receiver of a WhatsApp message can read its contents. The company is so committed to message encrypt...

US inflation cools as interest rate decision looms

Official data showed U.S. consumer price growth eased significantly last month ahead of a crucial meeting at which policymakers will announce their latest interest rate decision. The U.S. Labor Department says prices rose 3.3% year over year through the end of May, while they fell 0.1 percentage point from the previous month. Even as rent continues to strain household budgets, core inflation, which strips out more volatile items such as food and energy prices, has also fallen. The Federal Reserve is not expected to cut interest rates this month, even as borrowing costs hit their highest levels in years. While the inflation rate is still above the U.S. central bank's 2% target, it was lower than some analysts had forecast, indicating they now believe a rate cut this year is more likely. Although food inflation has remained at around 2%, Americans are nonetheless feeling the strain of rising rents and utility costs. Inflation rates for other goods and services in the United States have v...

US inflation cools as interest rate decision looms