Pension costs undermine Europe’s push to rebuild military power
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
The European Commission’s plan to impose additional duties on up to 26 billion euros ($28 billion) of U.S. imports could significantly disrupt Europe’s livestock sector, which heavily relies on imported grains for animal feed, according to industry association FEFAC.
The new tariffs, part of the EU’s countermeasure to Washington’s levies on steel and aluminum, would reintroduce a suspended 25% duty on products such as corn from April 1 and extend additional duties to soybeans and other goods from April 13. FEFAC President Pedro Cordero warned that these measures would "adversely affect the resilience and competitiveness of EU livestock production systems," as higher feed costs could squeeze margins for farmers and meat producers across the bloc.
FEFAC highlighted that feed grains might serve as a bargaining chip in a negotiated settlement between the EU and the U.S. to avoid these tariffs. Cordero noted that with the EU’s current imports of U.S. feed commodities at around 4 billion euros, there is potential to double this figure to 8 billion euros. Such an increase could help reduce the existing U.S. agricultural trade deficit with the EU, which has long been a sticking point in transatlantic trade discussions.
The reimposition of the tariff on U.S. corn is particularly concerning for key European markets. With the 25% duty back in force, major importers like Spain could find U.S. corn prohibitively expensive, further straining the supply chain for animal feed. Market reactions were swift, as Chicago corn and soybean futures fell on Wednesday, reflecting growing apprehension among traders that Trump’s tariff policies and the EU’s countermeasures may dampen U.S. farm exports.
As the trade conflict continues to escalate, the agricultural sector is bracing for potential disruptions. The evolving tariff landscape underscores the complex interplay between trade policy and domestic economic interests on both sides of the Atlantic.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
President Donald Trump and U.K. Prime Minister Keir Starmer have reached a trade agreement that lowers U.S. tariffs on British autos, steel, and aluminum, while maintaining a 10% baseline tariff on other goods and boosting American exports of beef and ethanol.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 9th , covering the latest developments you need to know.
Italians gather to honour all who resisted fascism — including the forgotten Azerbaijani soldiers of Monte di Nese, each year. Their names may be lost, but their struggle for freedom is etched into the memory of this land.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment