Trade is booming within the European Union. The exchange of goods among the member states is flourishing on the EU's internal market. But there are worries about trade relations outside the EU. US President Donald Trump is putting the EU under pressure with punitive duties. Also, Europe likewise faces major challenges in structuring its trade relations with Britain after the British withdrawal from the EU.
Trade
Internal market flourishes, but protectionism looms
EU curbs on Cambodian trade privileges come into effect
The European Union has decided to partially suspend Cambodia from its trade privileges due to human rights violations. This will in turn affect the country's economy in a negative way.
German carmakers warn of ‘unprecedented collapse’ in sales
Some 35% fewer new cars were registered on German roads in the first half of 2020 compared with last year, industry data showed, as the coronavirus pandemic plunges manufacturers into crisis
European banks team up to offer alternative to Visa, Mastercard
European banks have teamed up to deliver by 2022 a new unified payment system that will offer consumers cards and digital wallets that could offer a serious alternative to Visa and Mastercard
EU, Britain intensify talks on post-Brexit future
The EU and Britain have launched an intense five weeks of negotiations on a deal to define their post-Brexit relations, with London keen to wrap things up quickly
Aviation, automobiles and other virus victims
The COVID-19 pandemic has devastated several industries, from aviation and automobiles to retail and energy. Who are the major casualties, amid all the layoffs, bankruptcies and rescue plans?
Britain’s Johnson, EU chiefs seek Brexit talks relaunch
British Prime Minister Boris Johnson and EU chiefs have tried to breathe new life into stalled post-Brexit trade talks, with both sides entrenched in long-held positions