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US-India trade pact cuts luxury car tariffs to 30% while excluding electric vehicles
On February 6, 2026, the United States and India concluded a trade agreement that will gradually cut Indian tariffs on large gasoline-powered American luxury cars from 110% to 30% and remove all import duties on Harley-Davidson motorcycles. In return for lower US tariffs, India pledged to buy $500 billion in American goods, but foreign electric vehicles such as Tesla models remain excluded from the tariff relief unless manufacturers commit to local production. The deal underscores India's preference for supporting domestic EV manufacturing while giving traditional high-end combustion vehicles greater access to its market.
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European DAC8 law compels crypto exchanges to report user transactions to tax authorities
Under the updated European DAC8 directive (Law Decree 194/2025), cryptocurrency exchanges operating in Italy must report all user transaction movements to the Agenzia delle Entrate, while users are required to declare their holdings and capital gains. From 2026 exchanges will collect data, in 2027 they will transmit it to national tax authorities, and in the following year the first automatic data exchange between countries is scheduled to begin, applying banking-style transparency to crypto accounts.
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