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China vows in politburo meeting to support firms, workers affected by U. S. tariffs

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China vows in politburo meeting to support firms, workers affected by U. S. tariffs


China‘s top policymakers pledged to support firms and workers most affected by the impact of triple-digit U.S. tariffs, the ruling Communist Party’s politburo said on Friday (April 25, 2025), according to state media.

The politburo, a top policy decision-making body, reiterated plans to accelerate debt issuance, ease monetary policy and vowed to support employers to safeguard jobs, in an effort to maintain stability at home as China hunkers down for a prolonged trade war with the United States.

“The fundamentals of China’s sustained economic recovery needs to be further consolidated, and the impact of external shocks is rising,” said a state media Xinhua report on the politburo meeting on Friday (April 25, 2025).

“We will strive to stabilise employment, enterprises, markets, and expectations, and respond to the uncertainty of rapid changes in the external environment with the certainty of high-quality development.”

The meeting urged preparing for “worst-case scenarios” with sufficient planning, and taking concrete steps to do a good job in economic work, Xinhua reported.

Specifically, the country will increase the proportion of unemployment insurance funds that can be returned to companies that are greatly affected by tariffs, in a bid to stabilise jobs, according to the readout.

“Multiple measures should be taken to help enterprises in difficulty. [We should] strengthen financing support and accelerate the integration of domestic sales and foreign trade,” Xinhua reported.

The country will also cut interest rates and banks reserve requirement ratio “in a timely manner” and develop consumption in the services sector, according to the readout.

China’s economy grew 5.4% in the first quarter, beating expectations, but markets fear a sharp downturn in the year ahead as U.S. tariffs pose biggest risks to the world’s second-largest economy in decades.

U.S. President Donald Trump and Treasury Secretary Scott Bessent struck a more conciliatory tone this week, saying the tariffs were unsustainable and signaling openness to de-escalating the trade war. But Beijing called on Washington to remove the tariffs to create space for talks.



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Don’t make ‘disappointing’ retreat on climate, COP30 CEO urges EU – The Times of India

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PARIS: Europe is “absolutely vital” to the fight against global warming and its leadership must not waver as climate ambition backslides elsewhere, the CEO of November’s COP30 summit in Brazil told AFP.
In an interview in Paris, Ana Toni urged the European Union to unite around a strong emissions reduction target as the 27-nation bloc squabbles over its level of climate ambition.
The European Commission has proposed cutting emissions by 90 percent by 2040 compared to 1990 levels but some member states argue the figure is too high, delaying its approval.
Brussels is pushing to revamp its economic and defence competitiveness in the aftermath of Donald Trump’s election, and climate advocates fear the EU’s green goals could suffer as priorities are realigned.
The debate is being closely watched as countries finalise their own climate plans, known as nationally determined contributions (NDCs), which are supposed to be submitted to the UN before the COP30 conference in the Amazonian city of Belem.
QUESTION: What do you think about the EU possibly reconsidering its emissions reduction target?
ANSWER:”The EU has been leading the climate debate. It is absolutely vital that the EU continues leading, especially in the geopolitics that we have. It is even more important now than it was before, and it would be extremely disappointing if they weakened that promise of getting both the 90 percent in 2040 — as proposed by the Commission, which we fully support — as well as having a very ambitious NDC for 2035.”
Q: What would happen if Europe’s commitment was reduced?
A: “The EU needs to lead. We really need the EU to lead. If they can’t, we shouldn’t then be disappointed that other developing countries — major countries like India, China — will also be rethinking how ambitious they need to be.”
Q: Europe’s leaders are under political and economic pressure, what do you say to them?
A: “I obviously understand the pressure. We feel the same pressure, the political pressure at home. If you were to ask (Brazilian) President Lula (Luiz Inacio Lula da Silva) when he decided to agree on a NDC that is decarbonising by 67 percent, there’s no lack of pressure also from the different economic sectors that we have in Brazil.”
Q: What if the EU lowered its target for reducing emissions at home, but instead purchased carbon credits generated in other parts of the world to offset the difference?
A: “We would need and hope that Europe, first of all, do its responsibility in terms of the decarbonisation that they need to do. If you think about historical responsibility, that’s how they can do it: is really having very strong targets. Carbon credits outside the region can be a plus, but not something that can take that responsibility away.”
Q:Would Brazil sell carbon credits to Europe?
A: “Yes, Brazil could sell a lot of carbon credits. Brazil is obviously well positioned because of our energy sector, because of reforestation, to sell carbon credit with integrity to any market.”
Q: What do you think has been the impact of the announced US withdrawal from the Paris Agreement?
A: “It’s really sad that the federal government from the US decided to withdraw again… But we should remember that the US is not just the federal government. You have the private sector in the US, you have the national governments. They say that around 60 percent of the laws related to climate is in the hands of state governors, not of the federal government.
“Climate needs stability. You need planning. I think we need to all rethink what we call a country being a risky country, because most of the time everybody thought of the US as a very stable, low risk country. And some countries in the South were (considered) very high risk.”
Q:President Xi Jinping said Wednesday that China will not slow down on climate. Should Beijing fill the void left by Washington?
A: “I don’t think China first wants to take the place because China believes on collective leadership. I think that idea of individual countries’ leadership is something that’s very Western, that everybody’s looking for a saviour, like the leader.
“I don’t think that’s the Chinese culture or Brazilian culture. We like collective leadership. And yes, we can see that the Southern countries are playing a collective leadership role.
“That’s why again, coming back to Europe, it is fundamental that Europe, together with Brazil, China, South Africa, India and other countries can play that collective leadership role.”
Q: How do you assess the effects of the resurgence of protectionism, under Donald Trump, on the climate?
A: “No type of wars is good for climate. They are anti-ecologic, any type of war — be it military wars or trade wars. Trade can play a positive role in the decarbonisation process if we are trading low carbon goods, if we are helping each other to achieve our goals. So that’s a very important message. We need to keep free trade, organise free trade, of low carbon technologies.”





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Australia’s PM condemns heckling at Anzac Day services | World News – The Times of India

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SYDNEY: Australia‘s prime minister condemned heckling and booing Friday at two solemn Anzac Day commemorations as “low cowardice”, warning that those responsible would “face the full force of the law”.
Anzac Day originally marked the ill-fated World War I landing of Australia and New Zealand Army Corps troops at Gallipoli, in what is now Turkey, in 1915.
Facing dug-in German-backed Ottoman forces, more than 10,000 Australian and New Zealand servicemen were killed in the Allied expedition.This year commemorates the 110th anniversary of the landing.
Anzac Day now also honours Australians and New Zealanders who have served in all wars, conflicts and peacekeeping operations.
Large crowds gathered across cities and towns in both countries just before dawn to pay their respects.
“We, who are gathered here, think of those who went out to the battlefields of all wars but did not return,” said Australian Prime Minister Anthony Albanese, who attended a service in Canberra.
“We feel them still near us in spirit. We wish to be worthy of their great sacrifice.”
But services in Perth and Melbourne were briefly disrupted by booing and heckling during the Welcome to Country ceremony — a traditional blessing from a local Indigenous elder before an event.
‘Completely disrespectful’
Albanese later described the interruptions as “an act of low cowardice on a day where we honour courage and sacrifice”.
“There is no place in Australia for what occurred. The disruption of Anzac Day is beyond contempt, and the people responsible must face the full force of the law,” he told reporters in Canberra.
The Melbourne interruption was “led by someone who is a known neo-Nazi”, veterans’ affairs minister Matt Keogh said.
“Frankly, when we come together to commemorate on Anzac Day, we’re commemorating some of those soldiers who fell in a war that was fought against that sort of hateful ideology,” he told the national broadcaster ABC.
“And so it was completely disrespectful, and is not something that’s welcome at Anzac Day commemorations, ever.”
When pressed how he knew the identity of the person involved, Keogh said he had “seen the public reporting of at least one of the names of one of the people that was involved”.
Police directed one man — who they have not identified — to leave the event, who they also interviewed “for offensive behaviour”, a Victoria Police spokesperson said in a statement.
Meanwhile, New Zealand’s Prime Minister Christopher Luxon was due to attend an Anzac service in Gallipoli.
In a message, King Charles III, the head of state of both Australia and New Zealand, thanked the countries’ World War II veterans for their “selfless service in those most difficult and dangerous times”.
The annual commemoration comes in the run-up to a May 3 election in Australia, where the most pressing issues for both main parties are the cost of living, managing the energy transition and balancing relations with the United States.
The left-leaning government is leading the opposition in opinion polls.





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White House slams EU fines on Apple, Meta as ‘extortion’

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The White House urged an end to “malicious” European regulations targeting US tech giants [File]
| Photo Credit: REUTERS

Large EU fines on Meta and Apple for breaking competition rules amount to “economic extortion,” the White House said, urging an end to “malicious” European regulations targeting US tech giants.

The European Commission on Wednesday fined Apple 500 million euros ($570 million) after concluding the company prevented developers from steering customers outside its App Store to access cheaper deals.

Facebook and Instagram-owner Meta was also fined 200 million euros over its “pay or consent” system after it violated rules on the use of personal data.

The fines are the first under the Digital Markets Act (DMA), which came into effect last year, forcing the world’s biggest tech firms to open up to competition in the EU.

“This novel form of economic extortion will not be tolerated by the United States,” Brian Hughes, spokesman of the White House National Security Council, told AFP in a statement Thursday.

“The EU’s malicious targeting of American companies and consumers must stop,” he said, reiterating the Trump administration’s position that such regulations “enable censorship” and are a “direct threat to free civil society.”

While not outlining any potential US response, Hughes said the regulations “will be recognized as barriers to trade,” suggesting they may be brought up in upcoming EU-US negotiations.

President Donald Trump launched his steep levies on trading partners, including the European Union, citing the removal of “unfair” non-tariff barriers as one of his goals.

“End the EU’s regulatory death spiral!” Hughes said.



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