International News
EU Targets U.S. Gem and Jewellery Imports in $26 Billion Retaliatory Tariff Response
The European Union has announced a set of retaliatory measures to address the U.S.’s recent imposition of tariffs on European steel and aluminium, which have spurred tensions between the two economic powers. The European Commission revealed that it will implement tariffs targeting U.S. exports worth up to €26 billion, including diamonds, coloured gemstones, and jewellery. The measures, scheduled to take effect on April 1st, come as the EU decries the U.S. tariffs on steel and aluminium, which are valued at over €18 billion.
European Commission President Ursula von der Leyen emphasized that the EU’s countermeasures, which match the scale of U.S. tariffs, are designed to be both firm and proportionate. “As the U.S. is applying tariffs worth $28 billion, we are responding with countermeasures worth €26 billion. This matches the economic scope of the U.S. tariffs,” she stated.
However, the EU remains open to resolving the dispute through negotiations. Von der Leyen entrusted Trade Commissioner Maroš Šefčovič to continue talks with the U.S. in hopes of finding a mutually beneficial solution, stressing that both sides should avoid escalating tensions in a time of global economic uncertainty.
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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International News20 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News14 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
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National News14 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises15 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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