One year after the Turnberry trade deal, EU-US trade increased despite tariffs. The EU is meeting investment pledges, while both sides negotiate exemptions. The US is preparing new tariffs on forced labor and overcapacity, potentially continuing trade tensions.
Several EU member states, including Greece, Germany, and Portugal, are demanding exemptions or blocking measures in the bloc's proposed 21st Russia sanctions package. Citing economic damage to national interests, these countries are resisting unanimous backing for new restrictions on energy, finance, and trade.
China's Ministry of Finance announced a new consumption tax on lithium-ion batteries and solar cells, effective September 1 and April 1 respectively, starting at 2% and rising to 4% a year later, impacting manufacturers and the electric vehicle sector.
The European Commission has provided the US with a list of hundreds of EU products, including cheese, wine, and medical devices, totaling €150 billion in exports, for exemption from 15% US tariffs agreed upon in a 2025 trade deal. This follows the EU's removal of its own tariffs on US industrial goods.
Kazakhstan's President Kassym-Jomart Tokayev signed a decree to regulate the digital asset market, introducing rules for stablecoin payments in cross-border trade, tax incentives for regulated crypto activity, and new energy options for digital mining, aiming to establish the country as a global crypto hub.
The European Automobile Manufacturers Association (Acea) has called for the UK, Turkey, and Morocco to be included in new EU "made in Europe" rules. These rules, designed to protect the EU from Chinese subsidies, could exclude British manufacturers from their largest export market. Acea argues for exemptions, citing the integrated value chain between the EU and the UK post-Brexit.
Delhi's new EV Policy offers subsidies within 60 days for electric vehicle buyers, including two-wheelers up to Rs 2.25 lakh. Incentives for electric two, three, and four-wheeled goods vehicles will be directly transferred. Electric cars get road tax and registration fee exemptions until March 2030.
Delhi government has officially notified the Delhi Electric Vehicles Policy 2026, effective July 1, 2026, until March 31, 2030. The policy aims to boost EV adoption with tax exemptions, subsidies for two and three-wheelers, and a Rs 15,000 crore investment for charging infrastructure.
Australian creatives are seeking assurances that the government will not weaken copyright laws in exchange for significant AI data centre investment. A proposal reportedly includes AI companies mining creative content for training models, with a fund for artists as compensation. Critics call it a 'dirty deal'.
Le Mexique, pays très inégalitaire, voit sa société civile demander une réforme fiscale à la nouvelle présidente Claudia Sheinbaum, face à la richesse croissante des ultra-riches et aux exemptions fiscales bénéficiant aux plus aisés.
India and the UK will implement their Comprehensive Economic and Trade Agreement (CETA) from July 15, aiming to expand market access, reduce tariffs, and deepen cooperation. The pact is expected to open a market worth over $500 billion for Indian exporters and includes provisions for the automotive and spirits sectors.
Australia's Prime Minister Anthony Albanese has announced expanded capital gains tax (CGT) exemptions for small businesses, including startups and testamentary trusts. The government increased the turnover threshold to $10 million, making the exemption "substantially broader and significantly more generous" in response to industry criticism.
Australia will provide "generous" capital gains tax exemptions for nearly all small businesses, with exemptions for startups and testamentary trusts. The annual turnover threshold for concessions will rise to $10m, benefiting 98% of businesses.
UK Labour figures Andy Burnham and Wes Streeting are considering a wealth tax on the super-rich, inspired by economist Gabriel Zucman's proposals. The tax aims to address growing inequality, with Zucman advocating a 2% levy on assets over $100 million, even for those who leave the country.
UK ministers are considering dropping some planned steel tariffs after manufacturers warned of significantly increased costs. The government aims to balance protecting domestic producers with ensuring secure supply, while also addressing similar EU measures.
A House hearing on six GOP crypto tax bills exposed a lack of bipartisan consensus, with Democrats questioning exemptions for staking and mining rewards and industry leaders pushing for broader tax relief on everyday crypto payments.
India's government and RBI introduced measures to attract foreign portfolio investors and non-resident funds into government bonds and bank deposits, including tax exemptions and risk mitigation strategies, leading to a significant rupee gain.
The Italian Constitutional Court's ruling allows IMU tax benefits for both homes of a married couple. Effective use, not just registration, is key. Reductions also apply to properties loaned to close family, historic buildings, and unusable properties.
Taiwan's AI-powered traffic enforcement system is under review after drivers were ticketed for yielding to ambulances. The Ministry of Transportation stated that human review excludes over 23,000 such cases annually, and AI is being enhanced to improve accuracy and reduce erroneous fines.
US official Rubio stated that the Treasury Department decides on ending sanctions exemptions for Russian oil, depending on circumstances. This comes amid pressure from senators to halt sales and tighten economic bans on Russia.
A UK police commissioner is demanding a review of religious exemptions for carrying knives after an 18-year-old student was murdered by a man carrying a "Sikh dagger". The victim's family and Sikh community leaders also condemned the act, urging against community division.
Police commissioner Donna Jones is leading calls for a review of religious exemptions for carrying knives after Henry Nowak, 18, was murdered by Vickrum Digwa in Southampton. Digwa, who falsely accused Nowak of racism, carried a "Sikh dagger".
India's central government is reviewing toll exemption rules for national highways, potentially ending fee-free crossings for senior government officials. A committee recommended changes, promoting FASTag Annual Passes as an alternative.
India's Union Budget 2024 introduced new capital gains tax rules for property sales, effective July 23, 2024. Long-term gains now face a 12.5% tax without indexation, though residents and HUFs can opt for the old 20% with indexation if beneficial. Short-term gains remain unchanged.
