Question

Choose two random topics from Bloomberg business website and summarize each topic in two paragraphs.

Answer 1

Topic: The US decides to extend Steel tariffs relief to EU and other Allies

President Donald Trump has decided that he would delay imposing the tariff on aluminum and steel on the European Union, Mexico, and Canada till the 1st of June and would wait on finalizing a deal with them. It has also reached an in-principle agreement with Argentia, Brazil, and Australia to waive off the tariffs. The negotiations mostly involve deciding the quotas for each country that would reduce the imports, prevent transshipment through the united states and therefore protect the national security of the US. However, the EU which is the largest trading bloc in the world is still disgruntled and has said that such steps by the US of imposing quotas is against international trading rules and it would, therefore, retaliate against the US by imposing levies on American brands like Kentucky Bourbon and Harley Davidson motorcycles.

Topic: China gives Tesla a pitch

China has given Tesla permission to set up its production plants in China which is a great move considering the fact that other passenger car manufacturers would have to wait until 2022.However, talks with Chinese officials have not been helpful for Tesla as it wants full ownership whereas the Chinese have proposed a joint-venture structure.However, this might prove detrimental to both Tesla and China because China is already wreathing with the problem of pollution and needs safer and cleaner ways to operate automobiles, Tesla, on the other hand, is losing out on the opportunity to capitalize and have a grip on the largest and world's fastest growing electric automobile industry.However, Teals is grappling with issues of its own like the frequent shut down of the Model 3 plant, preventing it from meeting the demand and the lack of cash make it difficult for Tesla to set up a new plant in China unless and until it is able to find new ways to raise capital.But the plan of setting up of a new factory in China could help it to muster support and raise new equity capital later in the year.

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