Markets 
Good morning. This is Angela Skujins writing today’s newsletter from Brussels, as the city and its officials continue to grapple with the latest trade threats spearheaded by US President Donald Trump.
Members of the European Parliament, national diplomats and European Commission officials will meet tonight at 7pm for closed-door discussions aiming to smooth out the remaining kinks of the EU-US trade deal – and get it over the line before more threats materialise.
European Commission President Ursula von der Leyen said at a press conference in the Armenian capital on Tuesday that the bloc is “prepared for every scenario” if the Republican leader unilaterally raises tariffs on EU-made cars to as much as 25%, as was threatened last week.
A diplomatic source, speaking to Euronews on condition of anonymity, said the bloc is proceeding in line with its legislative processes and that there should be no cause for alarm over how Europe is implementing its side of the deal, or its pace.
Trump’s threatened hike would breach the EU–US deal – known colloquially as the “Turnberry agreement” after the location where it was signed – which caps US tariffs on EU goods at 15%. Trump alleged in a social media post late last week that the EU “is not complying with our fully agreed to Trade Deal”, without providing further details.
As Jorge Liboreiro reports, the president of the European Commission, speaking from Yerevan, defended the bloc’s processes. She said on Tuesday the EU was “in the final stages” of implementing a key pillar of the agreement designed to eliminate tariffs on a wide range of American products.
At a separate press event in the South Caucasus country, French President Emmanuel Macron said the EU has “tools to respond” to tariff threats, should they materialise. Questions remain as to whether he was referring to the EU’s anti-coercion instrument, also known as the trade bazooka.
Meanwhile, Catherine Ashton – the EU’s trade commissioner in 2008 and foreign policy chief from 2009 to 2014 – tells Europe Today that markets across Europe require consistency and certainty in trade policy. However, the former trade negotiator, who helped the EU and US solve a famous trade spat over beef, warned that broader geopolitical tensions, including developments in the Middle East, demand cooperation.
“Being a transactional president is the way that he (Trump) wants to go forward, and I think that’s how Europe – or any country – has to respond: by trying to work through that,” she said.
“But in the end, this all comes down to the fact that, with everything happening globally, especially in the Middle East right now, we are entering a period where additional challenges will require collective action. The more we can work together on trade, the better.” Watch.
The remarks come as Trump urged Iran to “do the smart thing” and make a deal on Tuesday, saying even as the ceasefire teeters that he did not want to kill more Iranians.
At least 26 killed in Russian strikes across Ukraine as Zelenskyy denounces Moscow’s ‘cynicism’
At least 26 people were killed in Russian strikes across Ukraine on Tuesday, Kyiv said, as President Volodymyr Zelenskyy condemned Moscow’s “utter cynicism” for launching deadly attacks while also seeking a truce to stage its 9 May patriotic parade.
Twelve people were killed in a Russian airstrike on the southern city of Zaporizhzhia, according to the local governor Ivan Federov.
Zelenskyy said at least five civilians were killed after Russia attacked the centre of the eastern city of Kramatorsk, the last hub under Kyiv’s control in the Donetsk region, and warned the death toll could rise. “The attack hit right in the city centre, targeting civilians,” the Ukrainian leader said.
When Moscow told the US about its unilateral ceasefire proposal for 8 and 9 May, Zelenskyy responded with a counteroffer. As Sasha Vakulina writes, the suggested a truce starting from midnight 5 May, saying “human life is far more valuable than any anniversary ‘celebration’.”
“It is time for Russian leaders to take real steps to end their war, especially since Russia’s Defence Ministry believes it cannot hold a parade in Moscow without Ukraine’s goodwill,” Zelenskyy said, warning that Kyiv will “act reciprocally starting from that moment.”
Romania’s pro-EU coalition collapses after prime minister fails no-confidence vote
Romania’s pro-European coalition government collapsed on Tuesday after lawmakers voted in favour of a no-confidence motion against Prime Minister Ilie Bolojan. As Gavin Blackburn reports, the move triggered a fresh period of turmoil less than a year after the coalition was sworn in.
The joint effort was launched last week after the leftist Social Democratic Party (PSD), which withdrew from the coalition in late April, and the hard-right opposition Alliance for the Unity of Romanians (AUR), submitted the motion to Parliament.
After a parliamentary debate, 281 lawmakers voted in favour of the motion and four against. In the run-up, Romania has faced a long period of instability.
A presidential election was annulled in December 2024, and the country today continues to grapple with one of the highest budget deficits in the EU, rampant inflation and a technical recession.
More from our newsrooms
How Russia sells child abduction as rescue
Maksym Maksymov leads efforts to return Ukraine’s abducted children. He argues Russia’s so-called “rescues” are a systematic campaign to erase Ukrainian identity and form part of a propaganda playbook the world is still falling for. Read Maksym’s opinion piece.
Portuguese sets sights on global power status at the United Nations (UN)
The UN’s current official languages are English, French, Spanish, Russian, Arabic and Chinese. Florbela Paraíba chairs the Camões Institute for Cooperation and Language board – a public body set up to promote Portuguese language and culture. She explained to Ana Filipa Palma what the language could gain if given the UN seal of approval.
We’re also keeping an eye on
- Ukrainian mayor of Mariupol Vadym Boychenko will address the European Parliament’s Committee on Regional Development from 2:30pm on experiences governing a temporarily-occupied city.
- Senior EU trade official Sabine Weyand will address the European Parliament’s Committee on International Trade from 4:20pm on the EU’s trade state of play.
That’s it for today. Peggy Corlin and Sasha Vakulina contributed to this newsletter.
Read the full article here
