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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.
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 FOREIGN POLICY
This morning, Europe grapples with von der Leyen’s expansive foreign policy moves amid tensions from the US-Israeli conflict in Iran.
Member states question her authority and approach.
ELECTRICITY AND MOBILITY
This morning, the EU and Switzerland signed crucial accords enhancing mobility and electricity trading.
Legal certainty for employers and commuters improves significantly.
New target aligns with the ongoing debates about the EU’s resilience to broader geopolitical challenges, particularly in the context of energy supply security and climate diplomacy amidst global concerns.
EU EMISSIONS LABEL
This morning, the European Union abandoned its emissions label plans for steel.
Industry concerns prompt a shift towards supporting low-carbon steel demand instead.
EU Urges Ukraine to Permit Access to Key Russian Oil Pipeline Today EU officials are…
MIDDLE EAST CONFLICT UPDATE
This morning, the escalating tensions in the Middle East following recent attack on Iran has increased the price of energy by 30% and catastrophic the significant humanitarian impact.
Most European States are assessing how to support their allies in the Gulf and prepare for potential fallout from diplomatic and security failures.
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