Quote of the day
Talking European tariffs (or not)
Always the diplomat, Germany’s economics minister wants to keep options open for responding to potential US levies on European steel imports, which could come into force as soon as Tuesday. It's up to the EU, rather than individual member countries, to decide on countermeasures because trade is a supranational policy area. EU tariffs on US products could hit imports of motorcycles, whiskey, and oranges.
Picture of the day
This could be Berlin on May 1, the national Labor Day holiday. Traditional protests have often turned violent in the bustling neighborhood of Kreuzberg, although most participants remain peaceful while demonstrating for higher pay and lower rents. Preparations in Berlin and other German cities are in full swing for the best and worst-case scenarios. Source:
Graphic of the day
Trying to chip in
For years, Europe has lagged the US and Asia when it comes to producing semiconductors, the brains of your cell phone and credit cards. To defend its role in the industry, Europe may boost its subsidy program ECSEL to nurture local chip businesses, Handelsblatt has learned. This could benefit Bosch and Infineon in Germany and NXP in the Netherlands, for instance. Details could emerge on Wednesday when the European Commission presents a new budget.
Public secret of the day
Dissolving the diesel debate
Early plans to ban diesel cars from urban areas have created a lot of work for leading German carmakers and politicians in recent months. But the number of German cities with diesel-polluted air has already dropped from almost 90 to 66, and city bans are not as easy to introduce as once thought. As a result, there will be no permanent funding to reduce air pollution, but only a one-time €1 billion payment, Handelsblatt has learned. Source: