US rejects EU proposal on zero tariffs for industry. China blocks deliveries of new Boeing aircraft

"The ball is in China's court, they are the ones who have to make a deal with us not the other way around." Donald Trump said this in a note read out by spokeswoman Karoline Leavitt. "There is no difference between China and other countries, only its size," the US president added.

White House spokeswoman Karoline Leavitt confirmed in a press briefing the news anticipated by Donald Trump on Truth that Nvidia has pledged to invest USD 500 billion to build supercomputers for artificial intelligence in the United States alone. "It's the Trump effect," Leavitt commented, emphasising that the "president wants to turn the United States into a manufacturing superpower."

The government summit ahead of Giorgia Meloni's mission to the US, with the issue of duties at the centre, has ended at Palazzo Chigi. The meeting, chaired by the Prime Minister, was attended by Deputy Prime Ministers Matteo Salvini and Antonio Tajani, Defence Minister Guido Crosetto, Pnrr Minister Tommaso Foti and Economy Minister Giancarlo Giorgetti.

'The trip (of Giorgia Meloni to the United States, ed) is certainly not easy and is full of pitfalls. But let us return to what it is: a bilateral meeting between Italy and the US and it is right and proper that this should happen'. This is how the Undersecretary to the Presidency of the Council, Giovanbattista Fazzolari, put it. When pressed on the expression 'full of pitfalls', Fazzolari clarified: 'Yes, full of pitfalls, because the American declarations suggest a desire for a strongly protectionist policy (on the part of the US, ed.), something that would be highly damaging to Italy. I don't know how beneficial it would be for the US, but for Italy and Europe a US protectionist policy could be a great danger'.

Shipments of Apple products from India intensified. In March, Apple's largest suppliers in India, Foxconn and Tata, shipped iPhones worth a combined total of almost $2 billion to the US, a record, with the Cupertino company increasingly committed to differentiating production locations and limiting its dependence on China, in anticipation of the tariffs later imposed by the Trump administration in April. The government imposed 26% tariffs on products from India, while those from China have now reached 145%. Foxconn alone exported 1.31 billion iPhones, a value equal to shipments made in the previous two months, according to customs data. Today, Apple's stock is little moved.

'If duties are imposed on those planes, it is very likely that we will delay their delivery'. This was stated by Ryanair's number one Michael O'Leary to the Financial Times online talking about 25 planes that Ryanair is expected to receive from Boeing starting in August. It will not need them until 'March, April 2026', he explained. 'We could delay them and hope that common sense prevails'. Per Ft "Trump's tariffs are already hitting the aerospace industry, putting billions of dollars of aircraft deliveries at risk and straining supply chains" in an industry largely free of trade barriers since 1979.

On Trump's tariffs 'I hope that, beyond positions and declarations, positive understandings will be reached. As you know, very effective and positive work is being done in these hours. The 90-day suspension of the duties represents, I hope, fertile ground to find useful and possible understandings, which can give real support, which can make people understand the need to create a more accessible system of rules, which can allow Europe to play a leading role in a global context'. So said European Commissioner for Cohesion Raffaele Fitto, in a video link-up with the Confcommercio Forum.

The current relationship between the US and Europe is 'complicated', which is why it is important 'that we Europeans know what we want and what our goals are. That way we will have a good position in the relationship with the Americans'. This was said by EU Commission President Ursula von der Leyen in an interview with the German weekly Die Zeit on tomorrow's newsstands. With regard to American technology companies, von der Leyen appears confident: 'For them, Europe is a very attractive and rich market. It has 450 million people who, compared to the rest of the world, have a high standard of living and leisure time'.

'We will do our best, I am aware of what I represent and I am aware of what I am defending'. Prime Minister Giorgia Meloni said this during her speech at the Leonardo Awards ceremony at Villa Madama, referring to her mission to Washington, where she will meet US President Donald Trump on Thursday.

The EU and the US have made little progress in bridging their differences on trade and US officials have indicated that most of the tariffs on the EU will not be removed immediately. This was reported by Bloomberg news agency, citing sources who said that the US had so far rejected the EU proposal on the removal of all tariffs on industrial goods, including cars. Washington has reportedly suggested that some of the duties could be offset by increased investment and exports.

"At a time of uncertainty like this we need concrete answers to have a vision of the future, so we hope and expect that the President of the United States, in the meeting with Prime Minister Meloni, will be able to find a positive synthesis for Europe". Thus the president of Confindustria, Emanuele Orsini, on the sidelines of the Leonardo Awards ceremony, speaking of the premier's mission to Washington on Thursday. 'The positive thing is that the Prime Minister is going on behalf of the whole of Europe. Today,' Orsini added, 'we are celebrating the day of Made in Italy; therefore, the concreteness of Italian know-how, quality: our companies are interconnected with the world, 626 billion in exports, therefore with a 100 billion surplus.

The ambition,' the industrialists' president reiterated, 'is to reach 700 billion, but it is obvious that we need countries to be able to export their goods in a balanced way. We do not need states that close or countries that close but interconnections,' he concluded. And about the goal of creating a US-EU free trade area, which Foreign Minister Antonio Tajani also spoke about, he said: 'Anything that makes it possible to interchange products for us is positive' but 'it is important that the whole of Europe is there because 52% of Italian products are sold in Europe. So it is not that if Italy works and the other European countries do not work for us it is an advantage; on the contrary we need all European countries to work: at a time like this, after 24 months of no productivity, being able to send products abroad is important and significant for us'.

The poorest and most vulnerable economies must be exempt from the tariffs announced by the United States. This is the view of the United Nations Trade and Development Agency (UNCTAD), which expresses concern about the tariff increases announced by the United States and China in a report just published. The agency calls for the poorest and most vulnerable economies to be exempt from the tariffs that the US administration intends to adopt against 57 countries, aimed at correcting the US trade deficit with its international partners, which, according to UNCTAD, increasingly resembles a trade war.

The report notes that in many cases the imposition of tariffs, which the US administration calls 'reciprocal', risks devastating the poorest and most vulnerable economies without significantly reducing the US trade deficit or increasing the country's tax revenues.

US Vice President JD Vance has opened up to the possibility of reaching a 'very good' bilateral trade agreement with Great Britain that would absorb all the tariffs imposed by Washington. He said this during an interview with the British podcast UnHerd, pointing out that the two countries are working "intensively" on the agreement and that there is a "good chance" that it can be realised. Vance addressed very friendly words to Labour Prime Minister Keir Starmer and about the 'privileged' relationship between Washington and London. A relationship that is also 'deep', stemming from the 'cultural affinity' between the two countries 'in that fundamentally America is Anglo-Saxon'. The vice president then made references to Trump's Anglophilia, who 'loves the United Kingdom', as well as expressing the US president's great affection for the late Queen Elizabeth first and for King Charles now: 'He loved the Queen. Admires and loves the king'.

JD Vance e Donald Trump REUTERS/Evelyn Hockstein

"Our continent must be protected from unfair competition and a possible abnormal invasion, this is the technical term used, which could occur as a consequence of American tariff measures against other Asian players, whose overproduction, no longer able to enter the American market, would spill over in a massive, indeed abnormal, measure into the European market, wiping out European industry".

This was said by the Minister for Enterprise and Made in Italy, Adolfo Urso, on the sidelines of a series of events in Naples on the occasion of National Made in Italy Day. "For this reason, we have already urged the European Commission to activate possible measures to safeguard the internal market and therefore European production in the face of this possible anomalous invasion that would be directed towards our continent as it would no longer be able to penetrate the American market," Urso added.

Donald Trump assures 'fast-track permits' for companies that want to move to the US and 'be part of the Golden Age'. The president on his social Truth says: 'Nvidia has committed to investing $500 billion to build supercomputers for artificial intelligence in the United States alone. This is great news. All necessary permits will be issued quickly to Nvidia and all other companies that commit to being part of the Golden Age.

At yesterday's meetings with EU Trade Commissioner Maros Sefcovic, on the table were 'our offer to work towards reciprocal zero-for-zero tariffs on all industrial goods, including cars, the issue of global overcapacity in the steel and aluminium sectors, the resilience of our supply chains in semiconductors and pharmaceuticals'. This was announced by an EU Commission spokesperson, emphasising that Brussels 'will continue to approach these talks in a constructive manner. It is clear that considerable joint efforts will be needed' for an understanding.

- Yesterday's meeting between EU Trade Commissioner Maros Sefcovic and US counterparts in Washington on tariffs "was not a dialogue of the deaf", but a "very focused and productive" meeting. So says Commission spokesman Olof Gill, during the press briefing in Brussels. However, he admits, "an additional level of engagement from the US is needed to allow the ball to keep rolling",

Chinese President Xi Jinping has arrived in Malaysia for a three-day visit. This is the second leg of his trip to Southeast Asia, which started in Vietnam and will end in Cambodia. In Malaysia, Xi is expected to discuss a free trade agreement between China and the 10-nation Association of Southeast Asian Nations (Asean), of which Malaysia is this year's president. Xi will meet King Sultan Ibrahim in the local morning on Wednesday and Prime Minister Anwar Ibrahim later in the day. Although Xi's trip was probably already planned, it has become significant because of the tariff war between China and the US, the world's two largest economies.

Asean Secretary General Kao Kim Hourn told Chinese state media that the free trade agreement will eliminate many tariffs between China and the bloc's members. "We will lower many tariffs to zero and then extend them to all sectors," he said in an interview with Cgtn, the state-run English-language broadcaster. Malaysia hosts several projects of the Belt and Road Initiative, the so-called New Silk Road, including an $11.2 billion Chinese railway project. China is also its largest trading partner and a major source of foreign direct investment.

"Yesterday's meeting covered many topics, from tariffs to non-tariff barriers. It explored the possibility of a fair and mutually beneficial agreement. Commissioner Maros Sefcovic reiterated that the EU and the US share many challenges and could address them jointly to the benefit of both sides". This was reported by European Commission spokesman Olof Gill, speaking about Sefcovic's meeting with his US counterparts, Secretary Howard Lutnick and US Trade Representative Jamieson Greer, in Washington DC. "In particular, the focus was on: our offer to work towards zero-for-zero reciprocal tariffs on all industrial goods, including automobiles; global overcapacity in the steel and aluminium sectors; and the resilience of our supply chains in semiconductors and pharmaceuticals," the spokesperson points out. "As argued from day one, we prefer negotiations to tariffs, which are harmful to our respective economies, traders and consumers. The uncertainty that the US has introduced into the global economy also needs to be addressed," he adds.

"The EU will continue to approach these talks" with the US "in a constructive manner in order to identify areas of common interest. It is clear that significant joint efforts will be needed to achieve a positive outcome within the 90-day window". This was reported by European Commission Trade Spokesman Olof Gill after the visit of EU Trade Commissioner Maros Sefcovic to the US. "The EU," he emphasises, "is doing its part. Now it is necessary for the US to define its position. As in any negotiation, this has to be a two-way street - a two-way engagement, with both sides bringing something to the table'.

Xi Jinping's mission to Vietnam is aimed at figuring out how to 'screw' the United States. This is how Donald Trump explains it, who has launched a tough tariff policy against China in particular and all those countries, including Europe, that are allegedly taking advantage of the Americans. Speaking in the Oval Office, the president said: 'I don't blame China, I don't blame Vietnam. It was a wonderful meeting (that between the Chinese president and Vietnamese leader To Lam, ed.), a meeting to try to figure out 'how do we screw the United States of America?'"

For US Treasury Secretary Scott Bessent, 'there is a big deal to be done' with China 'at some point'. This was reported on the website of the French daily Le Figaro, citing excerpts from an interview conducted by Bloomberg TV.

Asked about the risk of a decoupling between the two economies, Bessent replied that 'there is no reason for it, but it could happen', in any case potentially there is 'a lot to be done' between the two economies.

- The EU 'remains constructive' towards the US and 'ready for a fair deal, including reciprocity through our offer of zero tariffs on industrial goods and work on non-tariff barriers. Achieving this will require a significant joint effort on both sides'. European Trade Commissioner Maros Sefcovic, on a mission to Washington, where he met with Commerce Secretary Howard Lutnick and Trade Representative Ambassador Jamieson Greer to negotiate, 'seizing the 90-day window for a reciprocal solution to unjustified tariffs', said this via social media overnight.

China has suspended exports of heavy rare earths and magnets, crucial components for strategic industries such as automotive, aerospace, semiconductor, and defence. Shipments are halted at several Chinese ports pending a new export licensing system that could permanently exclude some customers, including US military companies. The New York Times reports.

The clampdown is a direct response to President Donald Trump's tariff increase, which took effect on 2 April. Two days later, Beijing ordered restrictions on exports of six heavy rare metals and the magnets containing them, 90% of which are produced in China. The new rules require special licences, but the mechanism is not yet operational and international industries fear an imminent shortage of key materials.

China has ordered its airlines not to accept further deliveries of Boeing jets as part of the 'eye-for-an-eye' trade war that has seen US President Donald Trump impose tariffs of up to 145% on all imports of goods made in China. Bloomberg reports this, citing sources close to the dossier. Beijing has also asked Mandarin airlines 'to suspend all purchases of aircraft equipment and components from US companies'. Beijing has already announced retaliatory tariffs of 125% on US-made products in addition to other measures