Sunday, October 5, 2025

Polaris of Enlightenment

EU and US reach agreement on tariffs and energy cooperation

Published 28 July 2025
– By Editorial Staff
Ursula von der Leyen and Donald Trump in connection with yesterday's press conference.
3 minute read

The EU and US have reached agreement on a comprehensive trade deal that involves 15 percent American import tariffs on the majority of EU goods. The agreement marks an important step toward stability and predictability in transatlantic trade.

After months of tense negotiations, a new trade agreement between the EU and US was announced yesterday.

The agreement means that the US will impose a general tariff rate of 15 percent on the majority of EU exports to the US, including products from the automotive industry. Exceptions are made for steel and aluminum, which continue to be regulated under separate quota systems.

European Commission President Ursula von der Leyen and US President Donald Trump presented the agreement after meetings in Scotland, where they described it as “all inclusive” and a breakthrough that creates stability in an uncertain global economic situation.

I think this is the biggest deal ever made, Trump said during a press conference celebrating the agreement.

The agreement also includes significant energy cooperation where the EU commits to investing in and purchasing American energy worth $750 billion.

European Commission President Ursula von der Leyen commented on the agreement in positive terms: – We have a trade deal between the two largest economies in the world, and it’s a big deal. It’s a huge deal. It will bring stability. It will bring predictability.

Agreement faces criticism: “Unbalanced”

Additionally, the EU plans to make investments of $600 billion in the US over a longer period. This includes liquefied natural gas (LNG), oil and nuclear fuel, which is seen as part of the EU’s ambition to reduce dependence on Russian energy.

The trade agreement further includes tariff-free trade on selected strategic products such as aircraft, aircraft parts, semiconductors and certain chemicals, which is expected to benefit both parties’ industrial sectors. However, some uncertainty remains regarding tariff rates on certain agricultural products and beverages.

The agreement averts a looming tariff conflict where the US had previously threatened up to 50 percent import tariffs on European goods, a level that was later reduced to 30 percent before the final agreement was reached.

Many in Europe still consider the baseline level of 15 percent too high, particularly in light of original hopes for a zero-to-zero agreement.

Criticism also comes against what many consider a worse deal for EU member states compared to the agreement concluded between the US and the UK – a UK that moreover stands outside the EU.

Bernd Lange, a German Social Democrat and chair of the European Parliament’s trade committee, sees the tariffs as “unbalanced”. He warns that the extensive EU investments now directed toward the US will likely come at the expense of the EU itself.

European companies largely welcome the agreement, which is expected to contribute to increased trade and investment across the Atlantic, while the agreement signals new opportunities for cooperation in energy and technology.

Fact box: WTO, tariffs and trade conflicts

  • WTO's role: The World Trade Organization (WTO) regulates international trade and aims to minimize tariffs and other trade barriers between member countries.
  • Tariffs: Taxes on imported goods that affect prices and competitiveness. High tariffs can reduce trade and lead to negative economic effects globally.
  • Trade wars: Escalated tariff increases between countries, which the US and EU came close to initiating, can damage exports and imports, worsen relations and create market uncertainty.
  • Economic effects: Stability and low tariffs promote investment and growth. The agreement between the EU and US is expected to reduce the risk of trade tensions and enable long-term planning for companies on both sides.
  • Energy and geopolitics: The energy component of the agreement is linked to Europe's energy transition and its ambition to reduce dependence on Russian gas and oil through American energy sources.

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Bitcoin reaches new record – surpasses $125,000 in value

Alternative economic systems

Published today 13:21
– By Editorial Staff
1 minute read

The world’s leading cryptocurrency continues its rise and hit a new all-time high on Sunday, driven by dollar weakness and strong inflows to bitcoin ETFs.

Bitcoin rose to $125,689 on Sunday, once again reaching new record levels. The previous record was set in mid-August when the cryptocurrency reached $124,480.

The rise comes after eight straight days of gains, supported by positive developments in US stock markets and increasing investments in bitcoin ETFs – exchange-traded funds that allow investors to gain exposure to bitcoin without having to buy and store the cryptocurrency themselves. Meanwhile, the US dollar has weakened against most major currencies, partly due to uncertainty surrounding a possible US government shutdown.

Joshua Lim, analyst at crypto broker Falcon X, sees a clear connection:

With many assets at record levels, it’s not surprising that bitcoin is benefiting from dollar weakness.

Since the beginning of the year, bitcoin has risen over 30 percent, benefiting from more crypto-friendly policies under President Donald Trump’s administration and increased institutional interest in digital assets.

Gold prices at record levels

Published 29 September 2025
– By Editorial Staff
Experts worry about the soaring price of gold.
1 minute read

During the summer and fall of this year, gold prices have risen by over 40 percent, leading to trading near $3,800 per ounce. The sharp increase has raised concerns among economists and investors.

One of the primary factors behind the price increase is US President Donald Trump’s policy, which aims to reduce America’s national debt. As part of this strategy, Trump hopes to weaken the dollar, making gold more attractive as a safe haven asset.

A weaker dollar makes gold cheaper for investors in other currencies, further driving up demand. Currently, one US dollar costs approximately €0.85, which represents a notable depreciation in just a few months.

Several major banks have raised their forecasts for gold prices. Goldman Sachs predicts that prices could rise to over $4,000 per ounce within a year, provided that central banks continue buying gold and investors increase their gold positions.

Despite the positive development, there are also warnings. Experts point out that gold prices can become volatile and that a sudden interest rate hike or improved global economic stability could lead to a rapid price decline.

Investors are therefore advised to be cautious and not put all their assets in gold.

The rapid price increase in gold reflects a world in economic uncertainty, where pressure on US finances and its currency policy could have far-reaching consequences worldwide.

China plans fully AI-controlled economy by 2035

The modern China

Published 26 September 2025
– By Editorial Staff
By 2035, AI is planned to have "completely reworked Chinese society" and implemented a new phase of economic and social production.
2 minute read

The Chinese government has presented an ambitious ten-year plan where artificial intelligence will permeate all sectors of society by 2035 and become the “main engine for economic growth”.

China’s State Council has published a comprehensive plan aimed at making the country the world’s first fully AI-driven economy within eleven years. According to the government document presented at the end of August, artificial intelligence will have transformed Chinese society by 2035 and become the foundation for what is described as “a new phase of development in intelligent economy and intelligent society”.

The plan, which spans ten years, encompasses six central societal sectors that will be permeated by AI technology by 2027. These include science and technology, citizen welfare, industrial development, consumer goods, governance, and international relations.

The goal: 90 percent usage by 2030

According to the timeline, AI technology should reach a 90 percent usage rate by 2030 and practically become a new type of infrastructure. At this point, the technology is expected to have developed into a “significant growth engine for China’s economy”.

The strategy resembles the country’s previous “internet plus” initiative, which successfully integrated the internet as a central component in the Chinese economy.

By 2035, AI should according to the plan have “completely reworked Chinese society” and implemented a new phase of economic and social production. This is an ambitious goal with significant consequences, not only for the People’s Republic but for the entire world.

International cooperation in focus

The State Council emphasizes that AI should be treated as an “international public good that benefits humanity”. The plan highlights the importance of developing open source AI, supporting developing countries in building their own technology sectors, and the UN’s role as a leader in AI regulation.

Although China’s AI industry is growing rapidly, as exemplified by the open AI platform DeepSeek’s successes earlier this year, Chinese models still lag several months behind their American counterparts in terms of average performance. This is largely due to restrictions and barriers that Western countries have imposed.

However, the gap is steadily narrowing. At the end of 2023, American AI models performed better than Chinese ones in 13 percent of general reasoning tests. By the same time in 2024, this figure had dropped to 8.1 percent. In certain AI applications, China is already a world leader and has invested heavily in offering its services at low prices and in many cases completely free as open source.

The State Council’s ten-year plan aims to further reduce the lead by strengthening key areas such as fundamental model performance, security measures, data access, and energy management.

Whether Beijing can deliver on its massive goals with the help of sometimes unreliable technology remains to be seen. However, if other nationally coordinated plans are any indication, the country may face a comprehensive transformation.

Chinese EVs outsell Tesla

Published 26 September 2025
– By Editorial Staff
From unchallenged market leader to pressured giant – Tesla faces intensifying competition from China.
1 minute read

Chinese electric vehicle company BYD has increased its sales in Europe by over 200 percent. Meanwhile, Tesla’s electric vehicle sales in Europe decreased compared to last year.

For the eighth consecutive month, sales are declining for Elon Musk’s electric vehicle company Tesla in Europe, according to industry organization ACEA. In July, Tesla sold a total of 8,220 electric vehicles, which is 36 percent less than the same month last year.

Meanwhile, Chinese electric vehicle manufacturer BYD, which stands for Build Your Dreams, sold 9,130 electric vehicles in July, representing an increase of 201 percent compared to July last year.

Looking at this year’s figures, Tesla has lost 43 percent in the European market, while BYD has increased by 244 percent.

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