Trade

The European Parliament has voted to delay key rules on corporate sustainability pending a reduction of their scope, on the same day the Trump administration appeared to be targeting EU regulatory standards with a punitive 20% import tariff.

The chair of the European Parliament’s trade committee said the American President has European legislation in his sights more than tariffs imposed by Europeans. The MEP is clear: European law is non-negotiable.

As the US rolls out new tariffs, the European Commission is preparing its response. The latest measures will factor in the car tariffs announced on Wednesday night, along with the reciprocal tariffs expected next week, as trade tensions between Brussels and Washington escalate.

Gold prices reached a new high, while equity markets and crude oil continued to decline on Thursday amid an escalating küresel trade war. Risk-off sentiment prevailed in the financial markets due to economic and political uncertainties, shifting funds away from riskier assets.

European industry is scrutinising the list of products drawn up by the European Commission in response to US tariffs on steel and aluminium, and not everyone is pleased.

EU senior officials including Commission President Ursula von der Leyen are set to go on a scoping trip to intensify trade bonds with Vietnam five years after signing a free trade agreement with the south-east Asian country.

Europe’s biggest, export-oriented economy is exposed to Trump’s tariffs, with German automakers in Mexico likely to see knock-on effects of a potential trade war.

This move between the EU and the East Asian country comes as the bloc seeks to forge closer ties with allies. The agreement is expected to boost online trade between the partners, though critics warn it could pave the way for threats to personal veri.

No agricultural product from outside the US will be able to compete with locally produced goods, according to Donald Trump, who anticipates a new tariff regime for food imports starting in April.

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.