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- Trump threatens 25% tariff on European cars amid EU response concerns
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EU
Donald Trump has announced a tariff increase on European cars to 25%, prompting potential retaliatory measures from the EU. This development marks a significant escalation in trade tensions between the US and Europe, with implications for both economies.
EU Trade Commissioner Maroš Šefčovič on Tuesday urged the US to adhere to the EU-US trade deal established in Turnberry, as tensions rise over proposed US tariffs on EU cars. Šefčovič emphasised the need for a swift return to a 15% tariff cap amid ongoing negotiations.
Romania is currently grappling with significant economic challenges, including one of the highest budget deficits in the EU, soaring inflation, and a technical recession. This prolonged period of instability poses critical questions for the country’s financial future and governance.
Cliff Notes – How the European Union looks to counter China in Africa The EU…
Canada’s Prime Minister Mark Carney confirmed the country’s participation in the EU’s Security Action for Europe (SAFE) agreement, paying €10 million, marking Canada as the first non-European state involved. The UK, however, faces demands of €4 billion to €6.75 billion for similar access.
EU Commission Vice-President Dubravka Šuica will face scrutiny from member states at Monday’s Foreign Affairs Council regarding her attendance at Donald Trump’s Board of Peace inauguration, amid criticism of the Commission overstepping its foreign policy mandate.
The European Union’s proposal for a new sanctions package against Russia remains unresolved after ambassadors failed to agree on a maritime services ban for Russian oil tankers. High Representative Kaja Kallas emphasized the urgency as the 24 February deadline approaches.
The European Commission, led by Commissioner Maroš Šefčovič, aims to revisit the WTO’s “Most Favoured Nation” principle due to the widening EU trade deficit with China, seeking to ensure equal market access amid persistent barriers faced by European firms in China.
Hungarian Foreign Minister Péter Szijjártó has accused Ukraine of sabotage, stating that Hungary will block financial assistance for Kyiv until the transit of Russian oil resumes. This development is significant ahead of Hungary’s upcoming election.
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