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- EU proposes major tobacco tax overhaul, raising cigarette duties by 139%
- US economy shows signs of recovery as inflation rates begin to stabilize
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EU
The EU is revising the Tobacco Taxation Directive, proposing a 139 per cent increase in minimum excise duties on cigarettes. This overhaul also aims to establish EU-wide minimum taxes on vapes, heated tobacco products, and nicotine pouches, marking the most significant change in tobacco taxes in over a decade.
Wildfires are raging across Belgium, Germany, France, Croatia, Spain, and Greece amid extreme heat and dry conditions. In Belgium, a major blaze has consumed 3,000 hectares in the High Fens reserve, prompting the deployment of over 250 firefighters and international aid through the EU Civil Protection Mechanism.
Two Spanish F-18 fighter jets intercepted and destroyed an unidentified drone in Romanian airspace early on Sunday, 24 kilometres north of Galati. Defence Minister Miruta confirmed the incident, highlighting Romania’s role in the European Union’s defence and the importance of vigilance amid ongoing tensions with Russia and Ukraine.
Ammonia, a critical component of fertilisers, underpins global food systems but exposes Europe to economic and environmental risks. The reliance on natural gas for production has intensified since the Ukraine conflict, prompting calls for innovative, low-carbon fertiliser technologies to enhance supply chain resilience and safeguard jobs in the chemical industry.
EU STRATEGIC ENGAGEMENT
This morning, Europe focuses on strengthening ties with Armenia amid ongoing regional tensions and reinforcing geopolitical alliances.
World leaders are convening in Yerevan, Armenia, for the 8th European Political Community meeting, focusing on unity and stability in Europe. Among the attendees are British Prime Minister Sir Keir Starmer and Ukrainian President Volodymyr Zelenskyy, as nearly 50 countries discuss geopolitical challenges, including US-Iran tensions.
Donald Trump’s abrupt announcement to withdraw 5,000 active-duty troops from Germany caught allies off guard. The decision escalates tensions with German Chancellor Friedrich Merz, who has been vocal in his criticism of US actions regarding the war in Iran and broader strategic issues.
A new US-led coalition aims to secure navigation through the Strait of Hormuz, complementing existing efforts by France and the UK, according to France’s Foreign Minister Jean-Noël Barrot. This initiative, announced as “Maritime Freedom Construct,” reflects heightened concerns over maritime safety amid rising tensions in the region.
Ukrainian President Volodymyr Zelenskyy confirmed an invitation for a meeting with Slovakia’s Prime Minister, who has shown support for Viktor Orbán’s stance on Ukraine, albeit with less intensity than Hungary’s outgoing leader.
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