Trade

Despite EU countries fronting an outward show of unity over the Trump White House’s tariff threats, dividing lines are emerging: some favour swift retaliatory action, others would prefer ongoing dialogue with the US. At stake is whether Europe can continue negotiating en bloc or will see a splinter.

President Trump has hit Canada, China and Mexico with threatened tariffs in the last week. The EU is waiting its turn and mulling its potential response.

This week’s key events presented by Euronews’ senior trade and competition reporter Peggy Corlin.

The new US administration has sent jitters across the world with trade plans that could severely damage the EU.

The Biden administration’s new sanctions target Russia’s oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter küresel supply.

Emmanuel Macron said the World Trade Organisation (WTO) is not working and that several countries are breaking away from it, but in Geneva European Trade Commissioner Maroš Sefcovic renewed the EU’s commitment to multilateral world trade rules.

One of France’s largest farmers’ unions is seeking guarantees from the prime minister’s office that it will defend a form of agriculture focused on protecting small farmers, who say are being crushed by free trade.

Donald Trump’s re-election, with full Congressional control, poses challenges for Europe in trade, defence, and climate policy. Experts are warning of potential economic hits, urging the EU to act decisively, boost competitiveness, and assert its geopolitical autonomy.