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SummaryBrussels plans to propose tariffs on Boeing aircraft as part of potential retaliation against the US if trade talks fail, targeting about €100bn of annual US imports, including civilian aircraft. These measures hinge on the EU making progress in reducing US tariffs and require approval from a majority of member states. US President Trump recently reduced additional tariffs on EU exports from 20% to 10% for 90 days to facilitate negotiations, while existing tariffs on...

European companies are raising concerns over the euro's significant rise against the dollar, which has surged over 9% to a three-year high, threatening exporters already affected by US tariffs. Major firms like SAP, Porsche, Heineken, and Schneider Electric warn that this strong euro undermines their competitiveness in the US market, with potential profit losses projected in the hundreds of millions. Analysts predict that if the euro continues to strengthen, it could lead to reduced demand...

SummaryNick Thomas-Symonds, the European relations minister, announced that the UK is considering a youth mobility scheme as part of a new strategic partnership with the EU, to be discussed at a summit on May 19. This potential scheme aims to facilitate work and study opportunities for young adults between the UK and EU member states while maintaining government red lines on immigration. Thomas-Symonds emphasized the importance of a broader agreement that includes security, fisheries access,...

The EU is preparing its 17th package of sanctions against Russia, targeting Vietnamese, Turkish, and Serbian companies accused of aiding Moscow in evading embargoes, as well as 149 oil tankers and approximately 60 individuals and companies in Russia and China. This initiative coincides with concerns over US President Donald Trump's potential withdrawal from Ukraine negotiations, and it aims to test Hungary's willingness to support additional sanctions amidst its previous threats to veto them. The package...

The UK faces significant limitations in retaliating against Donald Trump's tariffs due to its economic dependence on the US, which constitutes a major market for American exports. While Prime Minister Sir Keir Starmer seeks a trade deal with the US, economists urge caution against imposing reciprocal tariffs, as this could exacerbate the cost of living crisis and would unlikely compel Trump to relent. The UK must consider strategic alternatives, including coordinating with the EU, as...

The European Commission is set to require EU companies to disclose their Russian gas contracts, including details on volume and duration, as part of a strategy to reduce dependence on Russian fuel imports by 2027. This initiative aims to provide governments with essential data for implementing effective measures and preparing alternative energy supplies, alongside proposals to ban spot market contracts by the end of the year and long-term contracts by 2027. Additionally, the Commission will...