European Commission president Ursula von der Leyen has called for a “negotiated resolution” between the EU and China to ensure stability and predictability in the global economy amidst US tariffs. The two leaders discussed tracking trade diversion and addressing potential impacts, emphasizing the need for a strong reformed trading system. China’s trade surplus and tensions with the EU highlight the importance of finding common ground and meeting halfway in their relationship to avoid further escalation and support a level playing field in international trade.
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Germany to boost defence spending at faster rate than France or UK
Germany plans to increase its defense spending by over 66% by 2029, reaching €162 billion, as Chancellor Friedrich Merz responds to threats from Russia and the U.S. This includes annual military aid to Ukraine and aims to elevate defense spending to about 3.5% of GDP, surpassing France and the UK, while also implementing significant infrastructure investments and tax breaks to stimulate growth. Need More Context? 🔎
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