The European Commission has proposed expanding the Carbon Border Adjustment Mechanism to cover approximately 180 additional products, targeting steel- and aluminium-intensive downstream goods. The extension is designed to close a structural loophole: without downstream coverage, emissions can shift along the value chain rather than being genuinely reduced, undermining CBAM's core decarbonisation logic. By pricing embodied carbon at the border for fabricated products, not just raw materials, the mechanism aims to prevent producers from circumventing the levy by processing steel or aluminium outside the EU before re-importing finished goods. The practical consequence is a broader compliance perimeter for non-EU exporters and EU importers alike. Companies trading in downstream metal-intensive goods, machinery components, fasteners, structural parts, will need to track and report embedded emissions that were previously outside scope. Businesses with cross-border steel and aluminium supply chains should begin mapping exposure now, as the proposal advances through the EU legislative process.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
