EU

The European Political Community convened in Armenia last week, addressing global instability and escalating US-EU trade tensions, particularly regarding potential tariffs on European cars. Participants, including Canadian Prime Minister Mark Carney, discussed strengthening democracy, military cooperation, and economic ties amid shifting geopolitical landscapes.

Read More

European industries face significant challenges amid the upcoming Trump-Xi summit, with concerns that a potential US-China deal could prioritise American access to rare earths, leaving Europe vulnerable. As critical supply chains are manipulated, Brussels prepares for potential economic fallout and intensified competition with cheaper Chinese products.

The European Commission is sending a high-level delegation to Budapest next week to assess Hungary’s progress in unlocking €10 billion in EU recovery funds. Following a change in government, Budapest faces a tight deadline to meet conditions related to rule of law and anti-corruption reforms by August.

EU Trade Commissioner Maroš Šefčovič announced discussions with US counterparts about establishing a digital legislation forum, aiming to address concerns related to the EU’s Digital Services and Markets Acts. The US seeks to ease these regulations, linked to ongoing steel and aluminium tariff negotiations.

Hungarian Prime Minister-elect Péter Magyar indicated that EU funds could soon be released to Hungary following productive talks with European Commission President Ursula von der Leyen. Their discussions addressed unlocking billions in frozen funding, necessary for economic support, amid a looming August deadline.

As EU countries debate the European Commission’s proposal, China is urging national governments to abandon the planned law. Beijing has warned that failure to comply will lead to countermeasures, highlighting escalating tensions between the EU and China over regulatory standards.

From our sponsors
Advertisement
Advertisement