| The US will send more weapons to Ukraine, paid for by Europeans, and is threatening Russia with 100% "secondary tariffs." |
| |
| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. We're keen to hear your views on this newsletter. Please participate in our short survey. The US will send more weapons to Ukraine, paid for by Europeans, and is threatening Russia with 100% "secondary tariffs" unless it agrees to a ceasefire in 50 days. Donald Trump made the announcement as he met NATO Secretary General Mark Rutte in the Oval Office yesterday. While the US president didn't detail the measures he planned to use, the move signaled his growing frustration with Russia's Vladimir Putin, who has refused demands for a ceasefire and stepped up his military campaign in Ukraine. The initiative reflect Trump's priorities: it won't cost the US and there's no new funding to Ukraine, at least for now. Rutte said a number of allies will help meet Ukraine's weapons needs, including Germany, which has asked the Trump administration to make two more Patriot missile batteries available for Kyiv. German Defense Minister Boris Pistorius, who was in Washington yesterday, said he and Defense Secretary Pete Hegseth agreed to resolve any lingering issues around such a deal "quickly and quietly." — Max Ramsay | |
| |
| Retaliation List | The EU finalized a second list of countermeasures to target US goods worth €72 billion, including Boeing aircraft, automobiles and bourbon if it decides to retaliate against Trump's tariffs. Additional duties would also be slapped on chemicals, medical devices, wines and other agricultural goods, according to a list we've seen prepared by the commission. Trade Watch | Trade Commissioner Maros Sefcovic said there's a "new sense of urgency" to the EU's engagement with other countries hit by US tariff threats. Underscoring that outreach, Commission President Ursula von der Leyen said she had a "good call" with Canada's Mark Carney and plans to deepen the relationship. Humanitarian Deal | The EU's top diplomat Kaja Kallas will assess progress on the bloc's agreement with Israel to allow more aid into Gaza when EU foreign ministers meet in Brussels today. The deal has taken the wind out of efforts to punish Israel for human rights breaches, though ministers are set to discuss options. Banking Warning | The Italian government may have broken EU law by meddling in UniCredit's planned takeover of Banco BPM, the commission said. EU regulators have concerns that Italy's so-called golden power provisions potentially violate the bloc's merger rules. | |
| |
| Domestic Stumbles | A failure to elect three new judges to Germany's top court is the latest blow to Chancellor Friedrich Merz's agenda at home, casting doubt on his ability to implement economic reforms. That's in contrast to the first weeks of his tenure spent bolstering the country's standing on the global stage. Leading Ukraine | Ukraine's President Volodymyr Zelenskiy said he'll replace his prime minister as the nation seeks to maintain US support during the war. Yulia Svyrydenko, a deputy premier who took the lead in coordinating a landmark minerals deal with Trump's administration, will succeed Denys Shmyhal. Confidence Vote | Romania's government survived a no-confidence motion filed by the country's far-right opposition. That clears the way for a sweeping austerity plan aimed at scaling back a budget deficit that's become the widest in the EU. Office Splurge | The billionaire founder of Zara is in talks to buy an office building in Miami for €235 million. Amancio Ortega's family office, Pontegadea, has acquired properties in Barcelona and Paris this year, including the Hotel Banke in the French capital. Labor Probe | A Milan court placed Italian luxury label Loro Piana under judicial oversight for one year. It said the LVMH-owned label famous for its cashmere clothing failed to stop subcontractors from exploiting migrant workers. | |
| |
| President Trump's tariff spree is not to blame for Germany's deteriorating position in global exports, according to research by the Bundesbank. The central bank points to structural issues, including a slump in competitiveness, for the country losing market share in international trade since 2017. | |
| |
| All times CET - 7:30 a.m. Arrivals ahead of meeting of EU foreign ministers in Brussels, with press conference expected at 4:40 p.m.
- 11 a.m. Claudia Buch, chair of the ECB's supervisory board, appears before the European Parliament's finance committee
- 11:10 a.m. France's European Affairs Minister Benjamin Haddad speaks on Bloomberg TV. Watch here
Readers Note: Brussels Edition's Monday newsletter misspelled the name of US Defense Secretary Pete Hegseth | |
| |
| |
| You received this message because you are subscribed to Bloomberg's Brussels Edition newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. | | |
Mashadipati Location Hotel Clove is located in the heart of Bandung, in a ...
No comments