BRUSSELS: Brussels has the tools to hit back at the United States for its latest round of tariffs, France’s trade minister Nicolas Forissier told the Financial Times on Saturday.
Paris was in talks with EU counterparts and the European Commission over US President Donald Trump’s decision to impose a flat global tariff of 10 percent after the US Supreme Court ruled that many of the existing tariffs he had levied on trading partners were illegal, Forissier said.
“Should it become necessary, the EU has the appropriate instruments at its disposal,” Forissier told the FT.
The EU response could include options such as the “trade bazooka,” an anti-coercion instrument (ACI) that could affect US technology companies, the newspaper said, citing French officials.
The ACI has a broad range of powers from export controls to tariffs on services, as well as excluding US companies from EU procurement contracts, it said.
There is also a suspended package of retaliatory tariffs on more than 90 billion euros ($106 billion) of US goods that could be deployed, the report added.
France says EU has the tools to hit back at Trump over tariffs, FT reports
https://arab.news/9v95b
France says EU has the tools to hit back at Trump over tariffs, FT reports
- The EU response could include options such as the “trade bazooka“
- The ACI has a broad range of powers from export controls to tariffs on services
Saudi ambassador becomes first foreign envoy to meet Bangladesh’s new PM
- Tarique Rahman took oath as PM last week after landslide election win
- Ambassador Abdullah bin Abiyah also meets Bangladesh’s new FM
Dhaka: Saudi Arabia’s ambassador to Dhaka became on Sunday the first foreign envoy to meet Bangladesh’s new Prime Minister Tarique Rahman since he assumed the country’s top office.
Rahman’s Bangladesh Nationalist Party made a landslide win in the Feb. 12 election, securing an absolute majority with 209 seats in the 300-seat parliament.
The son of former Prime Minister Khaleda Zia and former President and BNP founder Ziaur Rahman, he was sworn in as the prime minister last week.
The Saudi government congratulated Rahman on the day he took the oath of office, and the Kingdom’s Ambassador Abdullah bin Abiyah was received by the premier in the Bangladesh Secretariat, where he also met Bangladesh’s new foreign minister.
“Among the ambassadors stationed in Dhaka, this is the first ambassadorial visit with Prime Minister Tarique Rahman since he assumed office,” Saleh Shibli, the prime minister’s press secretary, told Arab News.
“The ambassador conveyed greetings and best wishes to Bangladesh’s prime minister from the king and crown prince of Saudi Arabia … They discussed bilateral matters and ways to strengthen the ties among Muslim countries.”
Rahman’s administration succeeded an interim government that oversaw preparations for the next election following the 2024 student-led uprising, which toppled former leader Sheikh Hasina and ended her Awami League party’s 15-year rule.
New Cabinet members were sworn in during the same ceremony as the prime minister last week.
Foreign Minister Khalilur Rahman is a former UN official who served as Bangladesh’s national security adviser during the interim government’s term.
He received Saudi Arabia’s ambassador after the envoy’s meeting with the prime minister.
“The foreign minister expressed appreciation for the Saudi leadership’s role in promoting peace and stability in the Middle East and across the Muslim Ummah. He also conveyed gratitude for hosting a large number of Bangladeshi workers in the Kingdom and underscored the significant potential for expanding cooperation across trade, investment, energy, and other priority sectors, leveraging the geostrategic positions of both countries,” the ministry said in a statement.
“The Saudi ambassador expressed his support to the present government and his intention to work with the government to enhance the current bilateral relationship to a comprehensive relationship.”
Around 3.5 million Bangladeshis live and work in Saudi Arabia. They have been joining the Saudi labor market since 1976, when work migration to the Kingdom was established during the rule of the new prime minister’s father.
Bangladeshis are the largest expat group in the Kingdom and the largest Bangladeshi community outside Bangladesh and send home more than $5 billion in remittances every year.
