The EU is seeking to diversify its partnerships in the face of possible tariffs from Washington. Talks on a free trade agreement with New Delhi are scheduled for March.

In effect, the changes will mean that carmakers can miss the target this year as long as they outperform in the next two.

EU chief Ursula von der Leyen offered Monday to give struggling European carmakers "breathing space" by allowing them extra time to meet 2025 emission reduction targets without facing fines. Von der Leyen added companies would still have to "fulfil" the same targets.

During her visit to India, European Commission President Ursula von der Leyen will try to prevent the flow of banned technologies to Russia, reports Bloomberg. India is the second largest supplier of dual-use goods after China.

Von der Leyen said during a New Delhi visit that the bloc was considering a defense and security partnership with India. The EU is aiming to achieve a free trade agreement with New Delhi ahead of possible US tariffs.

European Commission President Ursula von der Leyen met Indian Prime Minister Narendra Modi on Friday in an attempt to revive and expand economic ties. The return of Donald Trump to the White House, tensions with China and economic sanctions on Russia have prompted Brussels to push for deeper trading ties with other economies.

President von der Leyen will travel to Kyiv on Monday with the College to reaffirm Europe's unwavering support for Ukraine's fight for independence and freedom after three years of full-scale war with Russia.

EU chief Ursula von der Leyen offered Monday to give struggling European carmakers "breathing space" by allowing them extra time to meet 2025 emission reduction targets without facing fines. Von der Leyen added companies would still have to "fulfil" the same targets.

EU steel demand is likely to have fallen in 2024 for a second consecutive year. The bloc's iron and steel imports totalled 39.5 billion euros ($41.5 billion) last year, while its exports of iron and steel to the U.S. were worth 5.4 billion euros, according to EU statistics office Eurostat.