Michaelis describes Trump’s vision as one focused on the “maximum concentration of power with the president at the expense of Congress and the [U.S.] states.” According to the document, key democratic institutions, including the legislature, law enforcement and the media, risk an erosion of their independence and could be “misused as a political arm.” The … Read more
Although Trump can only impose punitive trade measures against the entire EU, “you can be pretty sure that the tariffs that he might want to impose will be targeted in such a way that they will particularly hit the German economy,” Habeck argued. In the past, Trump has vented his fury at the European Union … Read more
“This landmark deal proves that open, rules-based trade can deliver for our prosperity and economic security,” European Commission President Ursula von der Leyen said. The bilateral trading relationship is worth more than €100 billion a year — four-fifths in the form of goods and one-fifth in services. Echoing the apprehension around Trump’s tariff ideas, the German car … Read more
President Donald Trump’s plan to defend the US economy with a wall of tariffs could cost British businesses £2.5 billion per year, analysts have predicted. Trump has proposed a tariff of 20% on goods coming into the US. He has also proposed 25% tariffs on imports from US neighbours Canada and Mexico and a 60% … Read more
Red lines Resuming the free-trade talks with Washington would be a red line for France and put Paris and Berlin at odds. Still, Merz’s more critical tone toward China, which contrasts with the fealty shown by Scholz and longtime CDU Chancellor Angela Merkel, might bring Berlin closer to the position defended by Paris and the … Read more
Zuckerberg complained that the EU had forced U.S. tech companies operating in Europe to pay “more than $30 billion” in penalties for legal violations over the past two decades. Last November, the tech chief’s Meta conglomerate, which operates Facebook, Instagram, WhatsApp and other social media and communications platforms, was fined €797 million for breaching EU … Read more
After years of tension with the previous Conservative government over human rights and security concerns, Reeves has political space to take a different, more business-like approach to Beijing and try and tap China’s vast market for economic benefits. “Everything the Tories did on foreign policy was about backbench management,” said a U.K. government official, who, like … Read more
Bitcoin prices fell sharply by over 6.2% to £76,529 ($95,405) from over £80,215 ($100,000) in the past day, joining the US stock market slump as resilient economic indicators drove Treasury yields high and fueled speculation that the US Federal Reserve could delay interest rate cuts. Other major tokens, such as Ether, Solana, and XRP, were … Read more
The Irish permanent representation to the EU’s transition team initially reached out to incoming commissioners by email, rather than setting meetings or leveraging relationships with key decision-makers, three officials said. Two officials said senior diplomats should have played a larger role in negotiations, rather than leaving talks to the permanent representation and to McGrath’s team. … Read more
Observers expected Meloni and Trump to talk about Ukraine, potential U.S. tariffs on European companies and the Middle East. Meloni is above all keen to find a quick solution to the detention of an Italian journalist in Iran. The journalist, Cecilia Sala, was arrested in Tehran after Italian police detained an Iranian wanted by the … Read more
