The Trump administration is pressing the European Union to accept blanket tariffs in the range of 15% or more, well above the level the bloc had initially negotiated with the U.S., people familiar with the matter said.

The EU also targeted the Nord Stream pipelines between Russia and Germany to prevent Putin from generating any revenue from them in future, notably by discouraging would-be investors. Russian energy giant Rosneft’s refinery in India was hit as well.

Crafting a budget for 27 countries stretching from Lapland to Lisbon is a fiddly process. In fiscal terms the “multi-annual financial framework”, as it is known in Brussels patois, is of peripheral concern.

EU — around 42 million individuals — cannot afford a one-week holiday away from home. Euronews Business takes a closer look at the issue of holiday poverty.View on euronews

European Commission President Ursula von der Leyen has unveiled a proposal for a long-term EU budget that she says will total $2.3 trillion

Last weekend, Trump announced he is planning to hit the EU with a blanket tariff rate of 30% from Aug. 1, after last-minute negotiations failed to produce a framework deal. Huge uncertainty now hangs over whether an agreement can be struck in the next two weeks, and what details or compromises it might contain.

Germany, the Netherlands and Sweden oppose European Union joint borrowing despite mounting global challenges, while Denmark is sceptical, finance ministers from those countries said on the sidelines of a G20 meeting in Durban,

Trump’s proposed 50% tariffs on European Union goods would hit roughly $606 billion in imported products. That’s the value of goods exported to the United States from the European Union in ...

The AI Act applies to AI models that the commission deems to carry systemic risks that could significantly affect "public health, safety, fundamental rights, or society," reports Reuters. It also includes the most well-known "foundational models" from companies like Meta, OpenAI, Google, and Anthropic.