EU

Hungary’s recent reforms under Prime Minister Péter Magyar aim to restore the rule of law, the European Commission reported. Key developments include joining the European Public Prosecutor’s Office and dismantling the controversial Sovereignty Protection Office, reflecting significant progress in anti-corruption measures and judicial independence.

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German MEP Engin Eroglu warned that restricting Chinese access to the EU market could destabilise China’s export-driven economy. With an unprecedented €1 billion deficit in 2026, the European Commission plans unilateral measures, including tariffs and quotas, to protect industries from the surge of low-cost imports.

The European Commission has submitted a list of EU products to the US, seeking exemptions from the 15 per cent tariffs established under the 2025 trade deal. Key items include Roquefort cheese, olive oil, and machinery, representing approximately €150 billion in exports.

EUROPE MORNING BRIEFING

This morning, European Union leaders convene in Brussels to discuss the ongoing conflict in the Middle East, energy crises, and Hungary’s veto on financial support for Ukraine.
Former US official John Bolton criticises the EU’s approach to the Iran situation.

EUROPE MORNING BRIEFING

Humanitarian funding continues to decline, with Germany and Sweden announcing significant budget cuts this morning. The EU’s negotiations for its 2028-2034 budget will see a proposed 75% increase in development aid dedicated to Ukraine and other candidate countries.

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