US President Donald Trump was expected to formally announce a deal to open up the EU to more beef exports after the bloc carved out quotas from other nations earlier this year, people familiar with the plans said.
US Trade Representative Robert Lighthizer and the European ambassador to the US were yesterday to sign an agreement to increase the amount of US beef that could be sold in the EU market, the people said, speaking on condition of anonymity ahead of the announcement.
Trump’s daily itinerary for yesterday included “an announcement on EU Trade,” although the White House did not specify what the event was about.
A White House spokesman and the Office of the US Trade Representative did not immediately respond to requests for comment late on Thursday.
US farmers would be entitled to almost 80 percent — or 35,000 tonnes — of the annual EU quota on hormone-free beef over seven years, with an initial allocation of about 40 percent, European officials told reporters in June.
The Trump administration in June secured more access to the EU’s beef market after the bloc persuaded Australia, Argentina and Uruguay to cede chunks of the import quota.
Lighthizer called for the formal signing ceremony in an attempt to show progress on the bilateral trade agenda, people familiar with the announcement said.
The quota was set a decade ago to settle a transatlantic dispute over an EU ban on meat from cattle that were given growth hormones.
WTO rules required the volumes be made available to other nations that export beef, and Australia, Argentina and Uruguay gradually replaced the US as the largest suppliers.
The announcement comes as Trump feuds with Europe over some trade issues, particularly with France.
Trump has threatened to tariff French wine after that country imposed a tax on tech companies that particularly affects US firms.
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
RSS