Number of residents back to their native lands in Azerbaijan’s Shusha

Most European companies in China report experiencing or anticipating positive effects from the US-China trade war, as higher Chinese tariffs make American imports less competitive. A survey by the European Union Chamber of Commerce in China revealed that while 19% of companies are already benefiting from increased business, 36% expect future gains, although overall economic uncertainty continues to impact profitability. Despite the trade tensions, many European firms are increasing local sourcing in China, indicating a...

SummaryBrussels has threatened tariffs on €95 billion of US exports, including cars and vehicle parts, if trade talks with Washington fail. The EU plans to implement retaliatory tariffs if the US does not lift its tariffs on €380 billion of EU exports and may initiate a dispute at the World Trade Organization if progress is insufficient. Notably, the EU's proposed list of items for tariffs includes Boeing aircraft, wine, and foodstuffs, while the final list...

Three years ago, US west coast ports faced congestion due to post-Covid disruptions, but now they are emptying as Donald Trump’s tariffs disrupt cargo schedules from China. While some believe these tariffs could harm trade and the economy, historical evidence suggests that the US economy can absorb shocks and recover swiftly, as seen post-Covid. The critical concern lies in whether Trump will continue to escalate tariffs, potentially leading to long-term damage akin to Brexit, or...

EU capitals are urging Brussels to delay retaliation against Donald Trump’s tariffs until the NATO summit in June, prioritizing a security deal with the US. Diplomats recommend pausing significant defence investments and avoiding provocative discussions on trade to minimize tensions with Trump, who demands increased European defence spending. As the summit approaches, officials are focused on finding a credible plan for Europe to take on more defence responsibility, reflecting concerns over potential clashes reminiscent of...

The European Commission is under pressure from member states, especially Ireland, to require social media platforms to combat online payment scams that defrauded Europeans of €4.3bn in 2022. A proposed amendment would mandate Big Tech to verify the legitimacy of advertisers, allowing only registered financial service providers to post ads, but the Commission is hesitant, citing conflicts with existing regulations. Despite support from about half of EU countries, Poland's suggestion to improve communication between payment...

SummaryIn response to Russia's invasion of Ukraine, Deutz, a historic German engine manufacturer, pivoted to defense, anticipating that 2% of its projected €2bn annual revenue will now come from military contracts. This shift reflects a broader trend among Germany's Mittelstand companies, as they embrace rising defense spending amid economic challenges, with firms like Alzchem reorienting from agricultural supplies to ammunition production. The move marks a significant cultural shift in Germany, where arms manufacturing has long...