EU unveils Competitiveness Compass to boost economy

Germany's finance minister, Jörg Kukies, discusses the country's infrastructure spending and the impact of U.S. tariffs on its economy during a dinner in Mainz, where he reflects on his family's ties to the area. He expresses concerns about the stagnation of Germany's growth due to competition from cheaper Chinese goods and emphasizes the need for the European Commission to negotiate while preparing to respond if talks fail. Despite his short tenure amid his party's dismal...

Canada’s Mark Carney and Europe’s leaders are responding differently to Donald Trump’s undermining of the liberal international order, with Carney embracing confrontation while Keir Starmer opts for restraint. Allies like Japan and South Korea are also treading carefully, balancing their security reliance on the US with the need to establish autonomy. As the Pax Americana wanes, advanced democracies must gradually reduce dependency on Washington while managing immediate challenges, recognizing that building independent military and economic...

Abolishing tariffs is desirable, but not at the cost of lowering regulatory standards or resetting relations with the European Union. A bilateral trade agreement between the UK and the US holds limited economic significance, with a projected long-term GDP increase of just 0.07%, contradicting Brexiters' claims of transformative benefits. Current tariffs on cars and pharmaceuticals pose a threat, especially with the potential reimposition of a 10% tariff on UK exports to the US, making it...

Some of Britain’s largest supermarkets and food producers, including Marks and Spencer and J Sainsbury, have urged the EU to finalize a veterinary agreement with the UK government to facilitate smoother exports of food products post-Brexit. In a letter to EU negotiator Maroš Šefčovič, twelve companies highlighted the increased costs due to "unnecessary red tape" and emphasized the economic benefits of reducing border frictions. Amid rising political tensions ahead of local elections, industry leaders expressed...

The European Central Bank has reduced its main interest rate to 2.25%, marking the third cut this year, in response to slowing growth in the eurozone and the effects of US border taxes. This quarter-point reduction aligns with expectations from City economists and aims to mitigate the impact of tariffs imposed on EU imports into the US. The bank's decision reflects ongoing economic challenges faced by the 20-member euro area. Full Article

Italian Prime Minister Giorgia Meloni is set to meet with US President Donald Trump in a significant summit aimed at strengthening ties between the EU and the US, marking her as the first European leader to engage with Trump since his trade tariff announcements. Meloni, who has cultivated a friendly relationship with Trump, arrived in Washington for the meeting, which includes a lunch and will be covered by White House and Italian journalists. This high-stakes...