NewsBytes

Vietnam abolished its long-standing two-child limit to try and reverse declining birth rates and ease the pressures of an aging population. The National Assembly passed amendments scrapping rules that limit families to having one or two children, state media Vietnam News Agency reported.  The rules were usually stricter for Communist Party members, who could miss out on promotions or bonuses if they had a third child. Vietnamese families are having fewer children than ever before. The birth rate in 2021 was 2.11 children per woman, just over the replacement rate required for a population to avoid shrinking over the long term. Since then, the birth rate has steadily declined: to 2.01 in 2022, 1.96 in 2023 and 1.91 in 2024. Vietnam isn't the only Asian country with low fertility. But, unlike Japan, South Korea or Singapore, it is still a developing economy.

Europe and the United States are meeting in Paris to negotiate a settlement of a tense tariff spat with global economic ramifications between two global economic powerhouses. The European Union's top trade negotiator, Maros Sefcovic, met Wednesday with his American counterpart, US Trade Representative Jamieson Greer, on the sidelines of a meeting of the Organisation for Economic Cooperation and Development.  “We're advancing in the right direction at pace — and staying in close contact to maintain the momentum,” Sefcovic posted on social media platform X alongside a photo of him shaking hands with Greer. Brussels and Washington are unlikely to reach a substantive trade agreement in Paris. The issues dividing them are too difficult to resolve quickly. President Donald Trump regularly fumes about America's persistent trade deficit with the European Union, which was a record $161 billion last year, according to the US Commerce Department.

Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal held bilateral meetings to explore possibilities of cooperation between India and Norway in multiple areas to further deepen the maritime relationship between the two countries. The minister held meetings with Norway's Transport Minister Jon-Ivar Nygard as well as with Minister of Fisheries and Ocean Policy, Marianne Sivertsen on the sidelines of the Nor-Shipping event in Oslo on Wednesday, according to the Ministry of Ports, Shipping and Waterways. In an attempt to enhance application of 'Green Maritime Technologies,' Sonowal held a meeting with Transport Minister Jon-Ivar Nygard.  Highlighting India's renewed push to modernise its maritime sector with a green and sustainable focus, the Union Minister underscored the country's initiatives in green shipping and digital transformation.   Both parties also agreed to deepen cooperation and exchange experiences on ferry system electrification, drawing inspiration from Norway's successful implementation of the initiative.

Some European auto parts plants have suspended output and Mercedes-Benz is considering ways to protect against shortages of rare earths, as concerns about the damage from China's restrictions on critical mineral exports deepen. China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The move underscores China's dominance of the critical mineral industry, key to the green energy transition, and is seen as leverage by China in its trade war with US President Donald Trump. China produces around 90% of the world's rare earths. EU trade commissioner Maros Sefcovic said on Wednesday that he and his Chinese counterpart had agreed to clarify the rare earth situation as quickly as possible.