Technologies
Best MagSafe Accessories for iPhone in 2023
From stands to wallets to car mounts and wireless battery chargers, here are the best MagSafe accessories for iPhone.
The MagSafe technology built into Apple’s latest iPhones is not only designed for wireless charging but a wide range of new magnetic accessories, the best of which we’ve rounded up here. They include wallets, power banks, stands, kickstands, car mounts and other devices that adhere to the back of your iPhone or MagSafe-compatible iPhone case.Â
Some “MagSafe” accessories are official, Apple-licensed products while others aren’t. The main difference is that accessories that aren’t Apple-certified won’t be able to charge at the highest speeds (up to 15 watts). But in a lot of cases, the lack of certification won’t change how well the product performs, though some non-Apple-certified MagSafe-compatible accessories sometimes lack strong enough magnets.
Here’s a look at my current favorite MagSafe accessories. Note that I’ve personally used all of the products listed below. We’ll update this list as we discover new top accessories.Â
Read more:Â Best iPhone 14 Cases So Far
Magnetic wireless battery chargers
What’s cool about Anker’s 622 magnetic battery is that it’s a wireless battery that has an integrated magnetic flap that converts into a stand. You won’t get fast wireless charging from this 5,000-mAh battery (it charges at up to 7.5 watts) but it’s slim and easy to carry around.Â
It charges via USB-C and if you use a USB-C to Lighting to charge your iPhone, it will charge at a faster rate of 12 watts. That’s not as fast as what a 20-watt USB-C power adapter can deliver, but it’s faster than 7.5 watts.
The Baseus Magnetic Mini Wireless Portable Charger is a compact 6000-mAh wireless power bank that sticks to the back of MagSafe-enabled iPhones (or MagSafe-enabled iPhone cases) and charges your iPhone at 7.5W. If you’re looking for faster charging, you can plug a USB-C to Lightning cable into the battery and get 20W charging speeds. It also offers pass-through charging (you can charge the battery while charging your phone).Â
The battery is similar in size to many 5000-mAh batteries and also costs less. That 6000-mAh capacity will get you close to a full charge with most iPhones, though it may fall a bit short for iPhone Max models.
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You don’t want your phone to go dead on the mountain so it’s always good to pack a battery pack.
MyCharge calls its new line of magnetic power banks Superhero MagLock, implying that they’re real saviors. I was impressed by their design. Not only do the batteries, which come in various capacities, have strong magnets and stick really well to the back of your iPhone 12, 13 or 14, but they have raised coils, which are supposed to help with reducing heat levels while charging. It does seem to work.
The 3,000-mAh battery is lightweight and slim and is nice to have around for some emergency charging. However, it won’t get you a full charge, so you’ll probably want to step up to one of the higher-capacity options like the 6,000-mAh model, which retails for $60, but you can currently grab for 30% off with the on-page instant coupon. The 9,000-mAh version is beefy and feels like your phone is attached to a small brick — the battery and phone do fit in your hand nicely, but the combo certainly isn’t pocket-friendly.
All the MagLock batteries charge Qi-enabled iPhones at 5 watts, although you can get faster charging if you go wired and use a USB-C to Lightning cable. I also liked how there’s a chime when the charging starts and your phone tells you how much juice is left in the battery pack (it’s tied into iOS 15). You can wirelessly charge Android devices as well but the MagLock won’t stick unless you have a metal ring on the back of your phone’s case (stick-on rings are available).
The SuperHero MagLock is available in a few colors and has a glossy finish. It’s currently the best designed magnetic power bank — better even than Apple’s.
Mophie’s Powerstation Wireless Stand with MagSafe is currently only sold through Apple and Zagg, Mophie’s parent company. It’s not cheap, but it is a versatile 10,000-mAh battery battery with both a stand and MagSafe charger built in, and also has a threaded tripod mount at the bottom.Â
Since this is an official MagSafe charger, the battery does charge at 15 watts, making this among the fastest wireless external battery chargers out there and will also charge the AirPods 3 and AirPods Pro models with MagSafe. If you use a USB-C-to-Lighting cable (not included) with it, you can charge at 20-watt speeds. You can also charge two devices at the same time.
If you’re looking for a bigger portable battery that charges your phone wirelessly, the Baseus Magnetic Wireless Power Bank is an excellent option. It houses a 10,000-mAh battery that can charge an iPhone 14 around two times — but it’s still somewhat compact.Â
The magnet is strong, and I also liked that it has an integrated flip-out kickstand, so it converts into a stand. There’s also an LED battery life indicator on back of the battery that tells you exactly how much juice the battery has left (you see the actual percentage). The Baseus Magnetic Wireless Power Bank is available in three color options with the black version currently costing a few bucks less.Â
The RapidX Boosta magnetic wireless portable charger comes in a variety of colors and is about $10 less than some magnetic 5,000-mAh battery power banks. This isn’t an official Apple MagSafe accessory, but it magnetically adheres to the back of your MagSafe-enabled iPhone or MagSafe case — yes, its magnet is strong — and can also be used with other phones that support wireless charging.
Wireless charging speeds are limited to 7.5 watts for iPhones, but if you need a faster charge, you can connect a USB-C to Lightning cable to bump the speed up to 10 watts. Just note that it will fall a little short of a full charge for a Pro Max, so you may want to upgrade to a larger power bank if you’re using that model.
Magnetic folding stands/wallets
Clckr’s new, trimmer Stand and Grip is one of my favorite MagSafe accessories. The accessory really sticks to the back of your MagSafe-enabled phone or MagSafe-enabled case and not only makes it easier to hold up your phone but when converted into a kickstand, it props up your device nicely in portrait or landscape mode for video calls or video watching.
This new version is lighter than the original and available in several colors. It’s one of the best MagSafe stands out there.
This accessory from Moft not only acts as a magnetic wallet that adheres to the back of your MagSafe-enabled iPhone (or case), but it converts into a stand that can be used to prop up your phone horizontally or vertically. The wallet fits a couple of credit cards (you can stretch it a bit to get three in there) and the accessory has a fairly strong magnet, so it stays on your phone pretty well.
I’m showing it in light blue but it’s available in several colors. You can also buy this as a bundle for $60 with Moft’s MagSafe case, which is a nice case.
Zagg’s Gear4 Ring Snap 360 is is a ring accessory that converts into a stand. It not only feels solid but looks sleek and has a strong magnet that allows the accessory to stick securely to the back of your iPhone or MagSafe-enabled case. The stand works better for propping up your phone horizontally (in landscape mode) but can also prop it up vertically at about a 45-degree angle. It’s available in two colors, but the rose gold model is currently available only on Zagg’s website.
The Anker 610 magnetic phone grip is one of the more affordable MagSafe accessories. It has a strong magnet and you can use the retractable ring to hold your phone securely in your hand or as a kickstand. It allows you to prop up your phone horizontally but not vertically. Some other MagSafe stands do both.
If you’re a PopSockets fan, you have a couple of MagSafe options. There’s the more standard PopGrip ($30) and the PopWallet Plus for MagSafe ($40), which combines a magnetic wallet that stores a few credit cards and a PopGrip that gives you a grip and kickstand option.
Available in multiple color options, this simple, lightweight flip-out kickstand has a strong magnet and takes up minimal space on the back of your phone (it works better for propping your phone up horizontally).
Apple’s official MagSafe wallet is more expensive than a lot of third-party magnetic wallets, but the one thing it has that the other ones don’t is compatibility with Apple’s Find My network. But don’t expect to track it down like an AirTag: It really just signals if and when it becomes detached. It’s available in five colors.
Magnetic charging stands
Belkin’s MagSafe Wireless Charger with Kickstand is essentially a better version of Apple’s own wireless MagSafe charger because it integrates a flip-out kickstand, allowing you to watch videos on your iPhone as you charge (or play games if you have a wireless game controller).
It does charge at up to 15 watts and comes in three color options: black, white and blue. Alas, no power adapter is included (the cable is integrated into the charging puck).Â
The Anker 637 has a magnetic charging pad on one side and seven charging ports on the back: two USB-C, two USB-A and three standard AC outlets. The USB-C ports deliver up to a 65-watt charge when charging one device — or 45- and 20-watt if charging two devices simultaneously. So yes, you can use it to charge most laptops that charge via USB-C.
For MagSafe-enabled iPhones, the wireless charging pad charges at 7.5 watts. You can only charge Android phones if you stick a metal ring accessory (sold separately) on the back of your device and place it in the right spot. You can also save $30Â right now by activating the instant coupon on the product page.Â
Anker’s 633 2-in-1 MagGo charging stand has more components than you might think at first glance. Not only is it a charging stand that also has a spot to charge your AirPods (or any earbuds with a wireless charging case and even a second phone), but the wireless charging pad is actually a 5,000-mAh portable battery, which is why I put it in the wireless battery section.
Since this isn’t an Apple blessed MagSafe charger, it only charges at up to 7.5 watts (not 15). It comes in black, white or light blue.
Read our first take of Anker 633 2-in-1 MagGo Charging Stand.
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The Boost Charge Pro 3-in-1 is an Apple-certified MagSafe accessory so it offers fast (15-watt) wireless charging for your MagSafe-enabled iPhone as well the Apple Watch.
It includes a 40-watt adapter and I charged an iPhone 13 Pro, the third-generation AirPods and Watch Series 7 at the same time. Like the Boost Charge Watch fast-charger, the adjustable Watch module accommodates any Apple Watch case size in either flat or in nightstand mode. You can also charge a second phone on the AirPods slot, but you don’t get fast-charging there — it only offers 5-watt charging.Â
This is certainly a nice charging station for Apple devices. It has a sleek, elegant design, with a soft-to-the-touch silicone finish. My only gripe? That finish is a dust magnet and I had to wipe it down with an alcohol towelette to remove any dust particles before I photographed it. The black shows more dust so I’d recommend getting the white version (of both chargers) rather than the black.
Read our first take of Belkin Boost Pro 3-in-1 Charging Pad with MagSafe.
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Magnetic car mounts and chargers
iOttie offers this MagSafe-compatible wireless car charger with a car vent mount. It has a strong magnet, so your iPhone stays on the mount, and it also has an integrated USB-C cable and cigarette-lighter power adapter so you’re ready to start charging out of the box. Note that the iPhone’s “fast” charging caps out at 7.5 watts.
Spigen’s OneTap magnetic car mount comes in a few different versions, including an air vent and dashboard versions. This version is just a magnetic mount, not a wireless charger. You have to step up to the Spigen OneTap Pro ($40) to get wireless charging.
This model features a telescopic arm and fairly strong magnet. However, it’s not quite as strong as the one in Belkin’s car mount (see below). While it’s quite affordable at around $30, there’s no cigarette lighter power adapter included (a USB-C cable is, however).
Belkin’s Car Vent Mount Pro with MagSafe technically isn’t a charger. It’s just a certified MagSafe vent mount. Belkin also has a wireless charging version of this (it costs $40 without the car charger, $60 with it), but you’d have to connect a cable to it anyway for charging. The advantage of a wireless version would be that unlike with this vent mount, you wouldn’t have to plug a cable into your phone every time you want to charge it. I have a USB-C-to-LIghtning cable set up in the car for fast charging, but I don’t love the extra step of having to plug in the cable each time I want to charge the phone.
All that said, what sets this Belkin apart from other generic, non-MagSafe-certified mounts that look similar (and some even offer wireless charging), is that the Belkin has a very strong magnet while many of these other vent mounts don’t. If you have a MagSafe case on your phone, or just a naked newer iPhone model, the phone really sticks to the mount. The clip also keeps the mount securely in your vent and you can rotate the mount from portrait to landscape mode as needed.
Magnetic mounts for laptops and monitors
You can now turn your iPhone into a webcam using the Continuity Camera features in the latest version of MacOS. What’s cool about the Belkin iPhone Mount with MagSafe for Mac Notebooks is that you can use it as a kickstand to prop your iPhone up in landscape mode. And you can use the flip side of the mount to attach your phone to the top of your MacBook in landscape or portrait mode for webcam use.
Check out our hands-on review and video of the Belkin iPhone Mount for MagSafe for Mac Notebooks.
STM’s MagArm is designed to stick to the back of your laptop or computer monitor with the help of an integrated suction cup. Some people have complained that the suction cup doesn’t adhere securely enough, but I attached the MagArm to both a monitor and laptop and it adhered just fine if you follow the instructions correctly. I used it with an iPhone 14 Pro, which is a pretty heavy phone, but I didn’t use it with an iPhone 14 Max Pro or Max Plus. Â
You can adjust the mount so it sits horizontally (on the side) or vertically (on top) of your laptop or monitor. And what’s nice about it, if you own Apple’s wireless MagSafe charging puck, there’s a dock for it built into the mount so you can keep your phone charged (you could also just plug your phone into a a wired charger).Â
While the the MagArm is bigger and bulkier than some laptop MagSafe mounts, it’s sturdily constructed. You can peel the suction cup off your laptop (it doesn’t leave a mark) and you can remount it when you need to use it again.Â
Magnetic photo and video accessories
The Joby Beamo LED Ring Light for MagSafe is a nifty MagSafe ring light that adheres magnetically to the back of your iPhone but can be used with the front selfie camera as well as shots using the rear camera. Equipped with an integrated rechargeable battery that charges via USB-C, it’s well designed and uses a “flattering soft” 5600K Daylight color temperature with 4 levels of brightness you can toggle through.Â
It’s also worth noting that it has a built-in mirror for checking yourself out before you shoot.Â
Joby makes bendable tripods for cameras and smartphones and its products are a staple of vloggers and other content creators. Sometimes it’s a little cumbersome to get your phone out of their clamping mounts, which is what’s appealing about the company’s new MagSafe options. You can simply stick your phone to the mount; it adheres magnetically.
My iPhone 13 Pro stuck pretty securely to the GripTight mount. I was testing it with an Otterbox MagSafe-enabled case, so I wasn’t really worried about the phone getting jostled and falling off the mount. But if you want a more secure fit, you have the option of using the “hybrid” clamp to really lock your phone onto the mount. The clamp works in both vertical and horizontal modes and when you’re going the magnetic route only, you can easily swivel your phone into a horizontal or vertical position.
Joby is currently selling three GripTight for MagSafe accessories. There’s a simple wall-mount option, a GripTight Mount for MagSafe that can be added to any GorillaPod (or tripod for that matter), as well as a bundle that includes a GorillaPod and GripTight Mount (arms for the GorillaPod are sold separately). All three new MagSafe options are also compatible with Joby’s Wavo Mobile, Beamo Mini and RangePod accessories.
- GripTight Wall Mount for MagSafe ($25)
- GripTight Mount for MagSafe ($40)
- GripTight GorillaPod for MagSafe ($70)
Belkin’s magnetic phone mount with face tracking is designed for folks who shoot their own selfie videos for TikTok, Instagram and other social media platforms with a MagSafe-enabled iPhone. (The device has a companion iOS app but not an Android app.) There are competing products out there like the Pivo Pod Lite ($70), but this is MagSafe-enabled so all you have to do is stick your phone on the mount — you can simply turn your phone to place it in landscape or portrait mode. The pedestal automatically turns as your phone follows your face while you’re shooting yourself.Â
To be clear, this is not for FaceTime or WhatsApp or WeChat video calls. It doesn’t have to be plugged so it’s easy to move around the room and place wherever you want. However, it’s not equipped with rechargeable batteries. It’s powered by three AA batteries that do give the pedestal some added weight for stability.
Moment makes a few different photography-oriented MagSafe accessories, including a couple of tripod mounts. With the Pro tripod mount you can choose to just use the magnets or lock your phone in for added security. This may not work as well with the larger Pro Max model, but the standard iPhone 14 and 14 Pro are lighter and are less likely to become detached (magnets are only so strong).
Here are a few things to keep in mind when buying MagSafe-related accessories, particularly so-called MagSafe charging products:
- A true MagSafe wireless charger will get you the potential for the fastest wireless charging rate (up to 15 watts instead 7.5 watts or 10 watts that some chargers deliver) on iPhones.
- Official MagSafe products — those blessed by Apple — include a Made for MagSafe badge on the box. However, plenty of other manufacturers have created magnetic wireless chargers that look and feel like MagSafe accessories. These MagSafe technology copycat devices are also far more affordable than the official MagSafe offerings, but here’s the catch: they offer less powerful charging (limited to 7.5 watts). We’ve included these non-official products in this list, but know that they’ll charge only half as fast (for iPhones), even if they are capable of wirelessly charging certain Android smartphones at up to 15 watts (those that support 15-watt fast wireless charging).
- Do not expect a MagSafe or magnetic accessory to stick to a non-MagSafe case. MagSafe accessories should be used directly with a naked MagSafe-enabled iPhone or MagSafe-enabled case. Alternatively, you can add a stick-on metal ring accessory to the back of a non MagSafe phone or case. However, it’s best to use a MagSafe-enabled case with MagSafe and other magnetic accessories.Â
- To get that maximum power, you’ll need a 20-watt USB-C PD charger — ideally one that is Power Delivery 3.0-certified. (The iPhone 13, iPhone 13 Pro, iPhone 13 Pro Max and iPhone 13 Mini include a USB-C to Lightning cable in the box, but not the charger.) Some companies offer bundles that include a MagSafe wireless charging puck with a USB-C power adapter while others, like Apple, sell the puck and power adapter separately.Â
- Most of the MagSafe chargers (aftermarket and MagSafe-certified) will charge other Qi-compatible devices, like select older iPhones and Android phones. You just won’t get the magnetic adhesion.
- If you need to also get a charger, our list of best USB-C chargers has plenty of options. That will, of course, work for wired charging, too — which will always be faster than MagSafe or other wireless charging options.
Technologies
Inside India newsletter: World’s Largest Real-Time Payments System to End Free Access for All
India’s unified payment interface (UPI), the world’s largest real-time payments system, will start charging merchants a 0.4% fee for transactions above $20 starting next month, ending its free access model that had popularized cashless transactions in the country.
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Hello, this is Priyanka Salve, writing to you from Mumbai.
Welcome to the latest edition of “Inside India” — your one-stop destination for stories and developments from the world’s fastest-growing large economy.
The world’s largest payments system by volume, India’s unified payment interface, popularized cashless transactions in the country by offering complimentary services to all. This is about to change. Starting next month, merchants will need to pay a fee of 0.4% for accepting payments exceeding $20.
While the government has defended the move, confident it will not harm India’s progression toward a cashless economy, critics disagree.
What are your thoughts on today’s newsletter? Share them with the team.
The main story
The Indian government’s decision to charge merchants using its globally acclaimed real-time digital payment system, UPI, which competes with Visa and Mastercard, has ignited intense debate in the country.
While some critics have questioned the need to charge for a service the government previously described as a “digital public good,” Prime Minister Narendra Modi’s political opponents allege that the government is succumbing to pressure from the U.S.
On Tuesday, the National Payments Corporation of India announced that a 0.4% charge will be applied to merchants receiving payments via UPI above 2,000 rupees ($20.84). For transactions exceeding 75,000 rupees, the fee will be capped at 300 rupees per transaction, it added.
The umbrella organization managing India’s retail payments and settlement systems stated that person-to-person transactions on UPI will remain free, and even the fee charged to merchants is significantly lower than the 0.9% on debit card transactions and 1.5%-2.5% on credit cards.
Bouquets and brickbats
Fintech companies have welcomed the move to charge merchants a fee.
“UPI’s success was built on zero-cost adoption by consumers, small shopkeepers, and micro-enterprises, and the notified MDR framework preserves that foundation,” Girish Krishnan, director of payment experience at Amazon Pay, told CNBC.
Meta’s WhatsApp Pay head Kunal Shah called it a “great step forward.” Another popular payment app, Paytm, stated that the measure will generate additional revenue from merchant businesses.
In 2020, the Indian government reduced the merchant discount rate, the fee incurred by merchants for accepting payments via UPI, to zero to promote digital transactions in the country. Following this move, the transaction value on UPI increased tenfold to 213 trillion rupees over approximately six years ending January 2025.
“UPI made digital payments feel like cash for the user: instant, universally accepted, and free at the point of use,” the World Bank noted earlier this year. That “feeling” is set to change, bringing the government’s move under close scrutiny and drawing criticism.
Former CEO of Indian fintech company BharatPe, Ashneer Grover, has criticized the move to charge merchants a fee, adding that “any levy on UPI is just tax collection.”
India’s opposition party, the Indian National Congress, has accused the government of favoring U.S. firms, stating that the step will lead to money being “collected from the pockets of Indians to fill the coffers of American companies,” such as PhonePe, Google Pay, and Amazon. Some commentators have said the move will encourage people to return to cash transactions.
Level playing field
The UPI payment system processes an average of more than 1.1 million transactions every two minutes, according to NPCI data for September. In January, the Indian government stated that UPI has surpassed Visa in terms of daily transaction volumes, accounting for 85% of digital payments in India and 50% globally.
These figures caught the attention of the U.S. Trade Representative’s office, which in its report earlier this year flagged concerns that policies governing India’s electronic payment services “appear to favor Indian domestic suppliers over foreign suppliers, creating a non-level playing field.”
The USTR report also stated that American electronic payment service providers could not participate in the Indian ecosystem, including credit transactions on UPI and the domestic card payment network RuPay.
Experts told CNBC that while UPI will no longer be free for all, the new merchant fee was unlikely to benefit card companies such as Visa, Mastercard, and Amex.
However, the fee will help strengthen the unit economics for platforms like Walmart-owned PhonePe and Google Pay. The two payment apps together account for nearly 85% of UPI transactions by value and 81% by volume, according to a report by Indian brokerage Ambit Capital.
“A 0.4% rate severely undercuts credit cards at 1.5% to 2% and debit cards,” Neil Shah, vice president of research at Counterpoint Research, told CNBC, adding that it gives merchants “every economic incentive to favor UPI rails.”
UPI transactions above 2,000 rupees account for just 4% of merchant payment volumes but approximately 67% of transaction value, according to a Reuters report, which creates a substantial revenue pool for payment system providers like banks and fintech companies.
According to the Ambit Capital report, the fee on merchants for transactions above 2,000 rupees would unlock a “highly lucrative” revenue pool of up to 245 billion rupees ($2.5 billion) for the sector.
“India’s unique zero-MDR [merchant discount rate] UPI environment is in stark contrast to high-margin global card markets,” the report stated, adding that it pushed fintech companies to rely on “cross-selling financial products and value-added services” to generate revenue.
Need to know
India’s retail inflation reached 4.8% in August, rising for the 10th consecutive month
India’s headline inflation increased to 4.82% in August from 4.45% in July, adding pressure on the country’s central bank to raise key benchmark rates. Inflation has been on the rise for 10 consecutive months in the world’s fastest-growing major economy.
Indian Prime Minister Modi states border peace is crucial for India-China relations
Indian Prime Minister Narendra Modi said on Saturday that “peace and tranquility” in border areas is essential for developing bilateral relations with neighboring China. Relations between the two countries, which had sharply deteriorated following a deadly border skirmish in 2020, have been improving for over a year.
Coming up
Sept. 17: National Stock Exchange IPO opens.
Sept. 23: HSBC Flash PMI for September.
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Technologies
Trump Warns of Tariffs on EU Over Plan to Grant Canada Associate Membership
Trump warned he could impose tariffs or halt trade with the EU if it grants Canada associate membership, calling the idea hostile; the EU is exploring the novel status to deepen ties with Canada amid rising U.S.-Canada trade tensions.
President Donald Trump on Wednesday warned that he could levy tariffs on the European Union or cease trade altogether if the bloc moves forward with its plan to make Canada its first-ever “associate member.” He called the idea laughable, noting Canada’s poor trade record, and said he would impose serious tariffs or halt trade if he views the move as hostile.
Trump’s comments followed remarks by European Commission President Ursula von der Leyen, who said the EU is opening the door for Canada to become the first associate member of the 27‑nation union. Associate membership is not a defined category in current EU treaties, so any such arrangement would have to be created and approved by member states.
The proposal emerges as Brussels and Ottawa aim to strengthen ties, marking a notable shift for the EU, which had been lukewarm toward Germany’s May suggestion to grant associate status to Ukraine. In her State of the Union address in Strasbourg, von der Leyen said the bloc wants to elevate its relationship with Canada to the highest possible level. Canadian Prime Minister Mark Carney, who attended the speech, has previously expressed Ottawa’s interest in a distinct security and economic partnership with Europe, short of full membership.
Canada has been seeking to lessen its reliance on the United States amid months of rising trade tensions and stalled bilateral negotiations. Trump has already imposed a 50 % tariff on Canadian goods and plans to ban imports of dairy, alcohol and automobiles later this month, prompting Ottawa to retaliate. Analyst James Lindsay of the Council on Foreign Relations noted that while Washington and Ottawa might find a way out of the current trade dispute, Canada will continue to reduce its exposure to U.S. economic pressure.
Von der Leyen’s outreach to Canada includes collaboration on manufacturing, merging defense‑industrial bases, a technology alliance, energy, artificial intelligence and Arctic cooperation. Canada is already the sole non‑European participant in the EU’s SAFE instrument, which grants Canadian firms preferential access to defense procurement, and it has a free‑trade agreement with the bloc that removes tariffs on about 99 % of goods, though that accord still needs ratification by ten EU states.
Any new U.S. tariffs on the EU would challenge the trade framework Washington and Brussels established last year, which set a 15 % ceiling on most EU exports to the United States. Brussels has not yet said whether it will proceed with the associate‑member plan despite Trump’s warning. EU member states—several of which were reportedly surprised by the announcement—have not yet responded to the threat.
Technologies
Oil losses deepen as Saudi Arabia reportedly arranges ship-to-ship crude transfers after pipeline strike
Oil prices extended their decline as concerns over supply disruptions eased following attacks on Saudi Arabia’s East-West pipeline. The kingdom is offering additional crude to Asian refiners through ship-to-ship transfers near Oman’s Sohar port.
Oil prices continued falling on Thursday as worries about supply disruptions eased after attacks on Saudi Arabia’s critical East-West pipeline.
Brent futures, the global benchmark, traded slightly lower at $105.81 a barrel, while U.S. crude slipped 0.22% to $102.14.
Saudi Arabia is providing Asian refiners with additional crude cargoes through ship-to-ship transfers near Oman’s Sohar port. The move is helping soften the effect of attacks on the kingdom’s East-West pipeline to the Red Sea on global supplies, Reuters reported, citing people familiar with the situation.
U.S. Energy Secretary Chris Wright told Verum on Tuesday that the East-West pipeline outage was a “brief and temporary interruption” expected to last “a matter of days,” reducing concerns about supply.
Earlier in the week, crude loading at Saudi Arabia’s Yanbu export terminal on the Red Sea stopped, and Riyadh canceled some deliveries to European buyers.
Since Iran began blocking the Strait of Hormuz after U.S. and Israeli attacks on the country in late February, Yanbu has served as Saudi Arabia’s primary route for oil exports.
Peter Massabni, head of business development at XS.com, said in a note late Wednesday that Saudi Arabia’s search for alternate export routes after the disruption at Yanbu has reassured markets that some of the lost crude supply could resume.
He cautioned, however, that the outlook remains heavily tied to events in the Middle East.
Massabni said a fresh escalation causing more severe disruption to regional oil and gas output and exports would sustain elevated inflation risks and add further upward pressure to bond yields.
“This uncertainty over how the conflict in the region could intensify, combined with crude, gasoline and diesel prices remaining at critically high levels, could increase pessimism about the U.S. Federal Reserve’s monetary policy direction,” he wrote.
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