Why von der Leyen expects Trump’s tariffs to assist the EU strike commerce offers

Good morning. The EU is ready to deploy its strongest commerce measures and impose levies on US digital corporations if a 90-day negotiation window fails to achieve a deal that would cut back Donald Trump’s wave of tariffs in opposition to Europe, Ursula von der Leyen advised the Monetary Occasions in an interview.

Whereas she needs a “completely balanced” consequence with Trump, the European Fee president stated she was additionally drawing up a spread of retaliation measures ought to the talks break down.

Right here, we have now extra from von der Leyen on the newfound enthusiasm for world commerce offers sparked by Trump’s turmoil, and our Rome reporter has a dispatch on Italy’s recent push to ship migrants to Albania.

Associates with advantages

It’s not simply Donald Trump whose telephone is ringing off the hook with overseas leaders begging for a commerce deal: Ursula von der Leyen reckons she’s getting simply as many calls.

“And here is what is really good: They know that we know how to do good and fair deals,” the European Fee president advised the FT. “We are known for predictability and reliability.”

Context: The EU has free commerce agreements with 74 associate nations. US President Trump has prompted world commerce chaos in latest weeks with sudden choices to impose, improve and droop tariffs on buying and selling companions.

Von der Leyen stated the UAE wished to conclude a commerce deal with the EU inside “months”, alongside ongoing negotiations with Malaysia, Thailand, the Philippines, Indonesia, India and others.

“They all want to have a trade agreement with us,” she stated. “The goal is to have more trade deals and to understand where we can work together . . . and come back to the principle that trade is a vehicle for prosperity.”

“So many countries around the world [want] to work closer with us together, to balance the system and to have free trade really competing on quality and not around tariffs,” she stated.

Von der Leyen stated that alongside growing the passion of potential companions to strike new offers, the turmoil attributable to Trump had additionally elevated the political will contained in the EU to agree them. The fee negotiates commerce offers with the blessing of the bloc’s 27 member states, which should approve them on a majority foundation.

“If you look at the mid- and long-term, we have to do everything possible to stabilise the situation, to give certainty, to be really cool-headed and use the momentum,” she stated. “For us, what counts is the long game.”

“Diversifying our trade means opening business opportunities for our companies. It’s important for us,” von der Leyen added. “If you look at the [EU’s] global trade, 13 per cent of the trade is with the United States. That also means 87 per cent of trade is beyond the United States.”

Chart du jour: Vacationer curse

As European cities wrestle to take care of a post-pandemic resurgence of mass tourism, short-term letting platforms equivalent to Airbnb, Vrbo and Reserving.com are as soon as once more within the line of fireplace.

Closing time

Italy is getting ready to ship one other group of migrants to asylum centres in Albania, in a recent bid to revive the costly amenities which have been in disuse resulting from authorized difficulties, writes Giuliana Ricozzi.

Context: The Italian authorities in 2023 signed a take care of Tirana to course of asylum seekers rescued within the Mediterranean at centres in-built Albania, as a part of plans to curb immigration. However courts have blocked the plans, and the European Courtroom of Justice will resolve within the following months whether or not the centres can be utilized for such functions.

Whereas awaiting the decision, Italy’s authorities determined to shake off the mud and convert the centres into hubs to carry rejected asylum seekers who’re already in closed amenities in Italy. Legally, this may be simpler than bringing asylum seekers — whose claims nonetheless must be assessed — to Albania, as they’re doubtlessly extra weak.

A brand new group of 40 migrants is anticipated to depart from the Adriatic port of Brindisi this morning, seemingly arriving in Albania this afternoon, a spokesperson for the inside ministry stated.

They may very well be detained within the centres for as much as 18 months whereas awaiting deportation to their residence nations, they added. For repatriation, they should be returned to Italy first, and likewise in the event that they fail to be repatriated, the spokesperson stated.

The repatriation course of is mostly sluggish and troublesome as a result of few bilateral agreements Italy has with the involved residence nations.

Because the starting of the yr, round 11,000 migrants have reached Italian shores, down from 16,000 over the identical interval final yr.

What to observe as we speak

1. Assembly of Ukraine Defence Contact Group at Nato’s headquarters.

2. Casual assembly of EU finance ministers in Warsaw.

Now learn these

• RIP Schwarze Null: As soon as a staunch defender of fiscal conservatism, Germany has launched into a large debt-fuelled spending programme.

• Not an island: Flabbergasted to search out itself among the many prime 10 nations on Trump’s listing of tariffs, Switzerland is popping to the EU.

• Costly brew: The CEO of Italian espresso roaster Lavazza has warned that espresso costs could have reached the “limit” of what customers are prepared to pay.