Europe: EC proposes drastic cut in steel imports, doubles tariffs
The European Commission has proposed halving the volume of steel imports entering the EU duty-free - from 30.5 million to 18.3 million tonnes annually - and doubling tariffs on imports exceeding that quota to 50%. The move, announced by EC president Ursula van den Leyen, aims to protect the struggling European steel industry, which operates at just 67 percent capacity and faces heavy competition from cheap, subsidised steel, especially from China. Global steel overcapacity, now at 600 million tonnes, is projected to exceed 720 million next year, pressurising European producers and leading to the loss of 18,000 jobs across the bloc. The new measures, including a ‘melt and pour’ rule to trace steel origins, are designed to curb tariff circumvention and lift EU production to 80% capacity use. While the plan also affects US imports, Brussels hopes for cooperation with Washington to address global surpluses. The proposal now awaits approval from EU member states and the European Parliament.
Gaza: what we know so far about ceasefire agreement
After three days of indirect talks in Egypt, Donald Trump announced that Israel and Hamas have ‘signed off’ on the first phase of his twenty-point peace plan to end the Gaza war. The agreement, expected to be approved by Israel’s cabinet, includes an immediate ceasefire and the release of all remaining living hostages - around 20 people - within 72 hours. Israel will begin withdrawing troops to a line controlling roughly 53% of Gaza, while Hamas will return the bodies of 28 dead hostages. In exchange, Israel will release about 250 Palestinian prisoners serving life sentences and 1,700 Gaza detainees, but not including key figures like Marwan Barghouti. Hundreds of aid trucks will begin entering Gaza daily to address famine conditions. Later phases of the plan envision Gaza’s demilitarisation, temporary rule by Palestinian technocrats under an international ‘Board of Peace’ chaired by Trump, and eventual transfer to a reformed Palestinian Authority - points that remain deeply contentious between Israel and Hamas. Earlier in the week, on 7 October, 30,000 gathered in Tel Aviv in an emotional event marking the second anniversary of Hamas’s attacks: see
ASEAN: China’s shift towards green technology may inspire others
The strengthened commitment by China to cutting emissions and expanding renewable energy production may well accelerate Southeast Asia’s transition to a low-carbon economy. Analysts note that, as one of ASEAN’s key investors and trading partners in clean technology, China’s policies could encourage member states to attract more green investment while pursuing economic growth. Xi Jinping’s new climate targets include reducing greenhouse gas emissions by up to 10 percent from peak levels by 2035, expanding wind and solar capacity to 3,600 gigawatts, and increasing nonfossil fuels to over 30 percent of total energy use. Experts say these goals will boost affordable renewable technologies (eg solar panels, wind turbines, and batteries) across ASEAN, fostering energy security and resilience. China’s $2.7 billion clean-energy investment and $4.3 billion trade with ASEAN could inspire other members to align with the global shift toward sustainable development and climate responsibility.
USA: government shutdown now in its second week
The US government shutdown has entered its second week as the Senate again failed to pass competing bills to restore funding, deepening the political stalemate. Democrats and Republicans remain divided over whether to pair any funding bill with healthcare measures, particularly an extension of Affordable Care Act premium tax credits set to expire at the end of the year. The lapse in funding has forced federal offices, national parks, and agencies to close, with mounting pressure from unpaid workers and disruptions at airports and air traffic control centres (see) House speaker Mike Johnson insists the GOP’s short-term funding bill is sufficient, while a top Democrat has accused Republicans of refusing to negotiate. Donald Trump continues to urge Democrats to accept the Republican plan, though some within the GOP have hinted at compromise. Without agreement, hundreds of thousands of military and civilian personnel will soon miss paychecks, further straining families and testing public patience with political gridlock.
