The European Union is pushing for U.S. tariff cuts on European cars to take effect retroactively, as both sides released details of their July trade framework deal aimed at easing transatlantic trade tensions.
Under the new trade framework agreed in July between U.S. President Donald Trump and European Commission President Ursula von der Leyen, the United States will lower its 27.5% tariffs on European cars and car parts to 15%, easing a major burden on the auto industry.
The 3.5-page joint statement outlined commitments from both sides, including the EU’s pledge to eliminate tariffs on U.S. industrial goods and grant preferential market access for U.S. seafood and agricultural products.
While wine and spirits were excluded from exemptions, both parties left the door open for future negotiations.
The EU also reiterated its plan to procure $750 billion in U.S. energy products and $40 billion in American-made AI chips, alongside $600 billion of EU investment in U.S. strategic sectors by 2028.
Both sides pledged to address digital trade barriers, negotiate rules of origin, and coordinate on steel and aluminum markets to protect supply chains.
Officials described the deal as a mechanism to ensure accountability while laying the groundwork for future expansions.
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The European Union's top diplomat Kaja Kallas and several EU foreign ministers voiced their support for Ukraine's demand for accountability over Russian atrocities committed in Bucha, as they visited the small town on Tuesday (31 March) on the fourth anniversary of a massacre there.
HHungary’s foreign minister has been drawn into controversy after an audio recording, released by an investigative outlet, appeared to show him discussing EU sanctions with his Russian counterpart days before an election that could shape Budapest’s relationship with Moscow, Reuters reports.
Europe has entered one of the most complex geopolitical moments since the end of the Cold War. The ongoing war in Ukraine continues to reshape security priorities, while tensions in the Middle East have intensified following U.S. and Israeli-coordinated unilateral military actions against Iran.
The European Union has announced €250,000 in humanitarian aid for Afghanistan to support families displaced by conflict and those recovering from last year’s earthquakes, with around 70,000 people expected to benefit.
Fears of wider escalation grow despite President Donald Trump saying U.S. strikes on Iran could end within weeks. Meanwhile missile attacks, tanker incidents and rising casualties across Israel, Lebanon and the Gulf heighten risks to regional stability and energy routes.
There are fears of an oil spill after a drone strike hit a Kuwaiti oil tanker near Dubai on Tuesday, while U.S.-Israeli strikes in Iran reportedly killed at least two people. A loud explosion was heard in Beirut in southern Lebanon early Wednesday, as oil prices climbed above $100 a barrel.
Russian-flagged tanker carrying approximately 700,000 barrels of crude oil docked at Cuba's Matanzas oil terminal on Tuesday, shipping data confirmed, marking a vital and controversial delivery to an island paralysed by severe energy shortages and a suffocating U.S. blockade.
Four astronauts blasted off from Florida on Wednesday on NASA's Artemis II mission, a high-stakes voyage around the moon that marks the United States' boldest step yet toward returning humans to the lunar surface later this decade in a race with China.
An earthquake of magnitude 7.6 struck in Indonesia's Northern Molucca Sea on Thursday, killing one person, damaging some buildings and triggering tsunami waves, authorities and witnesses said.
The 2026 World Cup final is setting new records for sports ticketing costs, characterised by unprecedented price hikes and the debut of controversial sales models.
In a dramatic shake-up at the top of the U.S. Justice Department, President Donald Trump has removed Attorney General Pam Bondi from her post, a White House official confirmed on Thursday.
American President Donald Trump threatened on Wednesday to pull the United States out of NATO after European nations refused to join a U.S.-led naval mission to unblock the Strait of Hormuz.
France has unveiled a delayed wave of renewable energy tenders to boost energy independence and strengthen domestic and European industry.
China is emerging as one of the more stable economies amid the latest global oil shock, thanks to years of planning, diversified energy sources and a steady shift towards renewable power.
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