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EU to Unveil Budget Plan
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US and EU 'making progress' on trade deal
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The European Commission advanced a $2.3 trillion budget proposal that would boost EU defense spending through the next three years.
The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.
The European Union has proposed a budget of close to €2 trillion ($2.3 trillion) for its next seven year budget, as it seeks to fend off a range of challenges from rising global economic competition to increased defense demands.
Italy's foreign minister warned that, while he hopes for successful negotiations, the EU will respond resolutely to Trump's latest tariff threat.
EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.
EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.
One of the European Union’s most reliable punching bags is shaped like a bottle of whiskey. The EU this week circulated to member states a list of products it could hit with tariffs if a trade deal is
Clearing house chief executive cautions against move to raise more money for Ukraine by investing in riskier assets
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President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.
China reaffirmed on Wednesday that it is normalising ties with the European Parliament, as Beijing seeks to forge closer economic and political ties with Brussels amid flaring global trade frictions.
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