| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.Pro-European forces in t |
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| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Pro-European forces in the east are facing mounting challenges to fend off far-right contenders, with Poland the next country to face the test. After defeating a populist himself last weekend, Romania's newly elected president, Nicusor Dan, spent the day before his inauguration at a rally in Warsaw, lending support to Rafal Trzaskowski in the final stretch of the Donald Tusk ally's presidential campaign before the June 1 runoff. Trzaskowski, Warsaw's mayor, only recently pulled ahead in opinion polls after finishing neck-and-neck in the first round with Karol Nawrocki, a historian supported by the former ruling nationalists. And in Romania, Dan's own struggles are far from over: he will have to narrow what has become the EU's widest budget deficit and avoid a possible rating downgrade.
— Andrea Palasciano | |
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| Tariff Extension | After a phone call with Commission President Ursula von der Leyen, Donald Trump said he would extend the deadline for the EU to face 50% tariffs. The bloc will now have until July 9 to reach a trade deal. Von der Leyen said yesterday on social media that "Europe is ready to advance talks swiftly and decisively." Russia Sanctions | Trump said he was "absolutely" considering new sanctions against Russia, after Moscow launched a second night of deadly missile and drone strikes across much of Ukraine. "I'm not happy with what Putin is doing," the US president said. As Europe weighs its options for supporting Ukraine, one emerging option is to buy American weapons and send them to Kyiv. Playing Catchup | Italy's credit score is skewed toward a potential upgrade at Moody's Ratings, which joined other ratings agencies in rewarding Prime Minister Giorgia Meloni's push for fiscal restraint. The euro zone's third-biggest economy remains at Baa3, one step above junk, but now has a positive outlook. Port Congestion | Shipping bottlenecks are worsening at key ports in northern Europe, with a report suggesting trade wars may spread maritime disruptions to Asia and the US and push up shipping rates. Longer waits are due to labor shortages and low water levels on the Rhine river, on top of Trump's temporary rollback on 145% tariffs on Chinese imports, which has pulled forward shipping demand. | |
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| Asia Tour | French President Emmanuel Macron is embarking on a Southeast Asia tour focused on energy, transport and infrastructure, with a first stop in Vietnam today. Leaders from China, Spain, Japan, and other nations have taken similar trips recently, as tariff uncertainties make the region a spotlight for supply-chain resilience. Ukraine Latest | Russia and Ukraine completed three days of prisoner exchanges yesterday, as agreed earlier this month. Russian attacks on Ukraine have intensified in recent days despite the two sides holding their first direct talks since 2022, in Istanbul on May 16. Debt Deterrent | Investors aren't giving up on peace in Ukraine, but they've become less optimistic. Ukraine's dollar bonds have lost more than 10% so far in 2025, the worst showing among emerging and frontier markets. After being a very popular trade around Trump's return to power, stalling progress on a peace deal has eaten into those gains. Train Connection | Italy is continuing its flirtation with Elon Musk's Starlink, with state-owned rail operator Ferrovie dello Stato Italiane saying it may test the service for future projects. Deputy Prime Minister Matteo Salvini said Ferrovie was evaluating Starlink and another unnamed provider as possible suppliers. | |
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| The EU is considering lowering a price cap on Russian oil and banning the Nord Stream gas pipelines as well as cutting more than 20 banks from international payments system SWIFT as part of a new sanctions package. | |
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| All times CET - EU ministers in charge of development policy, as well as the bloc's agriculture ministers, meet in Brussels
- Defense Commissioner Andrius Kubilius joins parliamentary meetings in Italy
- Trade Commissioner Maros Sefcovic holds a video conference with the CEOs of major car makers
- 3:55 p.m. NATO Secretary General Mark Rutte addresses NATO Parliamentary Assembly in Dayton, US
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