European elections: the little brown wave

SummaryThe EU aims to boost US goods purchases by €50bn to resolve trade issues, with progress noted by trade commissioner Maroš Šefčovič, who opposes retaining 10% tariffs as a resolution. With looming tariffs from the US, the EU seeks a balanced deal while emphasizing the need to consider US services exports to reduce the trade deficit. Šefčovič warned that achieving an acceptable agreement for EU member states would be challenging, as negotiations continue amidst potential...

The EU is threatening to impose a time limit on any veterinary agreement regarding UK food exports unless it secures long-term access to British fishing waters. This strategy aims to pressure the UK in negotiations, as businesses seek a stable, open-ended fishing deal, while the UK government faces demands to reduce trade barriers following Brexit. A successful agreement could significantly benefit both sides but would require the UK to align with EU standards and potentially...

In a recent discussion, US Treasury Secretary Scott Bessent praised President Trump's inconsistent tariff strategies as a means of creating “strategic uncertainty” to enhance negotiation leverage, reminiscent of Brexit's claims of advantageous trade negotiations. However, the UK's experience post-Brexit reveals a decrease in goods exports and economic performance, highlighting the detrimental effects of such uncertainty, as noted by former Bank of England governor Mark Carney. The article warns that similar tactics in the US could...

Spain’s competition watchdog, the CNMC, has approved BBVA’s €11bn hostile bid for Sabadell, allowing the government to have the final say on the merger. The CNMC authorized the acquisition with conditions, including maintaining certain branches to mitigate competition concerns, while BBVA aims to enhance its lending capacity and market presence. However, Sabadell's board and the government oppose the deal, citing risks to competition and financial stability, and the government has 15 days to decide on...

The EU is developing a "plan B" to maintain economic sanctions against Russia amid concerns that the Trump administration may abandon Ukraine peace talks for improved relations with Moscow. EU diplomat Kaja Kallas expressed worries about potential U.S. withdrawal from Ukraine and the implications for EU sanctions, especially if Hungary vetoes their renewal. While discussions on adjusting sanctions are ongoing, Kallas emphasized that no EU country would recognize Crimea as Russian, reinforcing that "Crimea is...

Sir Keir Starmer is under pressure to guarantee UK MPs a vote on a potential trade deal with Donald Trump, amidst hopes of finalizing agreements with the US, EU, and India before a key EU summit on May 19. While some MPs express concerns over a rushed deal, Starmer stated that any agreement would follow established parliamentary procedures, although trade deals are primarily negotiated by the government. As negotiations progress, worries persist about possible concessions...