logo
EU reveals new €95bn list of US tariff targets if negotiations fail

EU reveals new €95bn list of US tariff targets if negotiations fail

Business Post08-05-2025

EU-US Trade War
EU reveals new €95bn list of US tariff targets if negotiations fail
Sarah Collins
13:00
European Commission president Ursula von der Leyen said despite the threatened retaliation, the EU remains fully committed to finding negotiated outcomes with the US.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

G7 leaders aim for unity, facing escalating wars in Ukraine, Middle East
G7 leaders aim for unity, facing escalating wars in Ukraine, Middle East

Irish Times

timean hour ago

  • Irish Times

G7 leaders aim for unity, facing escalating wars in Ukraine, Middle East

Leaders from the Group of Seven nations began annual talks on Monday with wars in Ukraine and the Middle East adding to global economic uncertainty, as host Canada tries to avoid a clash with US president Donald Trump . The G7 leaders from Britain, Canada, France, Germany, Italy, Japan and the US, along with the European Union, are convening in the resort area of Kananaskis in the Canadian Rockies until Tuesday. With an escalating Israel-Iran conflict , the summit in Canada is seen as a vital moment to try and restore a semblance of unity among democratic powerhouses. Canada has abandoned any effort to adopt a comprehensive communique to avert a repeat of a 2018 summit in Quebec, when Trump instructed the US delegation to withdraw its approval of the final communique after leaving. READ MORE [ Israel and Iran continue to exchange attacks as death tolls and calls for de-escalation grow Opens in new window ] Leaders have prepared several draft documents seen by Reuters, including one calling for de-escalation of the Israel-Iran conflict and other statements on migration, artificial intelligence and critical mineral supply chains. None of them have been approved by the United States, however, according to sources briefed on the documents. 'I do think there's a consensus for de-escalation. Obviously, what we need to do today is to bring that together and to be clear about how it is to be brought about,' British prime minister Keir Starmer told reporters. The first five months of Trump's second term upended foreign policy on Ukraine, raised anxiety over his closer ties to Russia and resulted in tariffs on U.S. allies. Talks on Monday will centre around the economy, advancing trade deals, and China. Efforts to reach an agreement to lower the G7 price cap on Russian oil even if Trump decided to opt out have been complicated by a temporary surge in oil prices since Israel launched strikes on Iran on June 12th, two diplomatic sources said. Oil prices fell on Monday on reports Iran was seeking a truce. The escalation between the two regional foes is high on the agenda, with diplomatic sources saying they hope to urge restraint and a return to diplomacy. 'We are united. Nobody wants to see Iran get a nuclear weapon and everyone wants discussions and negotiations to restart,' France's President Emmanuel Macron told reporters in Greenland on Sunday before travelling to Canada. He added that given Israel's dependence on U.S. weapons and munitions, Washington had the capacity to restart negotiations. Trump said on Sunday many calls and meetings were taking place to broker peace. Highlighting the unease among some of Washington's allies, Trump spoke on Saturday with Russian President Vladimir Putin and suggested the Russian leader could play a mediation role between Israel and Iran. [ Amount of aid getting into Gaza 'minuscule', Doctors Without Borders chief says Opens in new window ] Macron dismissed the idea, arguing that Moscow could not be a negotiator because it had started an illegal war against Ukraine. A European diplomat said Trump's suggestion showed that Russia, despite being kicked out of the group in 2014 after annexing Crimea, was very much on U.S. minds. 'In the eyes of the U.S., there's no condemnation for Ukraine; no peace without Russia; and now even credit for its mediation role with Iran. For Europeans, this will be a really tough G7,' the diplomat said. Ukraine's President Volodymyr Zelenskiy and NATO secretary general Mark Rutte will attend the summit on Tuesday. European officials said they hoped to use the meeting, and next week's NATO summit, to convince Trump to toughen his stance on Putin. 'The G7 should have the objective for us to converge again, for Ukraine to get a ceasefire to lead to a robust and lasting peace, and in my view it's a question of seeing whether President Trump is ready to put forward much tougher sanctions on Russia,' Macron said. - Reuters (c) Copyright Thomson Reuters 2025

Irish MEPs condemn Ursula von der Leyen's 'pro-Israeli solo run' amid Iran-Israel conflict
Irish MEPs condemn Ursula von der Leyen's 'pro-Israeli solo run' amid Iran-Israel conflict

The Journal

timean hour ago

  • The Journal

Irish MEPs condemn Ursula von der Leyen's 'pro-Israeli solo run' amid Iran-Israel conflict

SEVERAL IRISH MEPs have slammed European Commission President Ursula von der Leyen for publicly supporting Israel and placing blame on Iran in the escalating Middle East conflict, accusing her of acting without the consensus or mandate of EU member states. In a statement yesterday evening, following a call with Israeli Prime Minister Benjamin Netanyahu, von der Leyen claimed that Iran 'is the main source of regional instability' in the Middle East and implied that the nation was at fault for the ongoing conflict with Israel. Israel launched an attack on Iranian nuclear infrastructure and other targets on Friday, which killed the head of an Iranian military organisation, alongside a deputy and another commander. That evening, Iran launched approximately 100 ballistic missiles at several Israeli sites , including the city of Tel Aviv. Several waves of strikes from both nations have followed in the days since . Iran's health ministry says at least 224 people have been killed by Israeli strikes since Friday, while Israeli officials say that at least 24 people have been killed as a result of strikes in Israel. In the statement following her call with Netanyahu, von der Leyen pointed to the UN nuclear watchdog's finding earlier in the week that Iran was not in compliance with its obligations. 'In this context, I underlined that Israel has the right to defend itself,' she said. 'Europe has always been clear: Iran can never acquire a nuclear weapon. There is an urgent need for a negotiated solution,' she said. Her comments have sparked widespread backlash from Irish MEPs, who argue that she is acting without a mandate on the conflict. 'Should not represent EU' Fianna Fáil MEP Barry Andrews told The Journal that it is 'highly debatable' to claim that Iran 'is the main source of regional instability'. 'President von der Leyen should represent the EU as a whole in this crisis, in line with international law, and not keep going on pro-Israeli solo runs,' Andrews said. He said that Netanyahu's speech justifying the strikes on Friday 'echoed President Bush's justification for attacking Iraq in 2003'. 'This crisis with Iran should not distract us from the continuing murderous assaults on Gaza and the West Bank,' Andrews added. He said that EU officials will meet later this month to decide on the future of the EU-Israel trade agreement, which is vital to the Israeli economy. The EU is one of Israel's largest trading partners, making up 22.7% of the country's exports, and 31.2% of their imports. 'Now is the time for the EU to finally act,' Andrews said. Advertisement Dublin MEPs Lynn Boylan and Barry Andrews. Alamy Stock Photo Alamy Stock Photo Sinn Féin MEP Lynn Boylan similarly slammed von der Leyen's apparent 'solo run', adding that she 'doesn't have a mandate from the member states to do so'. Boylan also criticised von der Leyen for her phone call with Netanyahu. What is she doing picking up the phone and speaking to a man who has an international arrest warrant out for him on war crimes? Did that come up at the phone call? Boylan added that she would like to see von der Leyen condemn Israel's attacks on Iran, stating that Israel 'is the key actor for instability in the region'. 'They've now targeted peacekeeping troops in Lebanon, they're committing war crimes and genocide in Gaza, they have shot at EU officials and diplomats, and now they're launching an attack on Iran. 'So it's very clear who the key actor for instability in the region is, and in this case, it's Benjamin Netanyahu and Israel,' Boylan said. 'Her credibility is shot' Ireland South MEP Billy Kelleher said that the EU's role in the Middle East should be 'that of an honest broker' in an effort to deescalate the tensions and violence, and said von der Leyen's comments 'do not achieve this goal'. 'The comments were akin, in my opinion, to giving European political cover to Israel's actions,' Kelleher said. 'This has been my longstanding criticism of President von der Leyen when it comes to issues related to Israel, and it should stop,' he added. Kelleher (left) and Ó Riordáin (right) criticised von der Leyen's recent statements. Alamy Stock Photo Alamy Stock Photo Aodhán Ó Riordáin, Labour MEP for Dublin, stated that von der Leyen's 'blinkered approach' to the issue is 'not in sync with Europeans'. He added that he does not think her position is 'tenable', and believes that 'her stature and her credibility is shot.' 'The problem is that it really undermines European institutions, because this place is supposed to be something that stands up against naked nationalism, authoritarian regimes,' Ó Riordáin said. 'The European Parliament is supposed to be something that puts the human condition at the center of things. We make grandiose speeches in this place all the time about how we can't go back, and yet Israel is allowed to do whatever the hell it wants.' Separately, Von der Leyen said Netanyahu has promised to increase aid access to Gaza during their call on Sunday. Speaking at the G7 summit in Canada, she pledged to follow up on the commitment and ensure aid is reaching those in need. Gaza has faced severe shortages after Israel's months-long blockade and bombardment, prompting UN warnings that the entire population is at risk of famine. Aid deliveries have resumed through a controversial, military-coordinated effort which has been widely criticised by the UN and humanitarian groups. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

Israeli troops kill 20 Palestinians waiting to collect food, says Gaza's civil defence agency
Israeli troops kill 20 Palestinians waiting to collect food, says Gaza's civil defence agency

The Journal

time2 hours ago

  • The Journal

Israeli troops kill 20 Palestinians waiting to collect food, says Gaza's civil defence agency

ISRAELI FORCES HAVE killed 20 Palestinians who were waiting to collect food, according to Gaza's civil defence agency. It is the latest deadly incident to take place near a US-backed aid distribution centre in the south of the Palestinian territory. Civil defence spokesman Mahmoud Bassal told AFP that 'the (Israeli) occupation forces opened fire' near the Al-Alam roundabout in the southern city of Rafah, where many were waiting to reach an aid distribution site. Bassal said that '20 martyrs and more than 200 wounded by occupation gunfire' were taken to nearby hospitals. The Israeli military told AFP that it was looking into the report. Israeli restrictions on media in the Gaza Strip and other difficulties in accessing some areas mean AFP is unable to independently verify the tolls provided by the civil defence agency. According to the rescue agency, dozens of Palestinians have been killed while trying to reach distribution points operated by the US and Israel-backed Gaza Humanitarian Foundation (GHF) since it began operating last month. Advertisement The first deadly incident happened on the morning of 25 May, when 31 Palestinians were killed by Israeli gunfire , according to the Gaza Civil Defence agency. The following morning, Israeli forces shot dead three people, according to the International Committee of the Red Cross (ICRC). The civil defence agency said more than 20 Palestinians were killed on Saturday near another GHF site. The introduction of this new US and Israeli-backed entity into the besieged Palestinian territory has been part of Israel's plan to circumvent UN agencies and NGOs that already work in Gaza and have done so for decades. Those UN agencies and officials repeatedly condemned the establishment of the organisation, warning that it would allow Israel to weaponise the provision of food. NGOs said it would only serve to allow Israel to carry out a plan proposed by US President Donald Trump, and endorsed by Israeli government officials, which is to remove the Palestinian population from the area. Israel has faced mounting international pressure over humanitarian conditions in Gaza, which the United Nations has described as 'the hungriest place on Earth'. The UN humanitarian agency OCHA has said that Gaza's 'entire population' of more than 2 million people was at risk of famine. European Commission President Ursula von der Leyen said Israeli Prime Minister Benjamin Netanyahu promised in a telephone call on Sunday to do more to bring aid into Gaza. Related Reads At least 31 killed and 'about 200' wounded by Israeli fire at Gaza food distribution site A new organisation has taken over Gaza food distribution with disastrous results - who's behind it? The Palestinian health ministry said that 5,139 people have been killed since Israel broke a ceasefire and resumed strikes on the territory on 18 March. Israel cut off supplies into Gaza on 2 March, sparking international condemnation. The overall death toll in Gaza since Hamas's 7 October 2023 attack has reached 55,432 people, according to the health ministry. The 7 October attack on Israel resulted in the deaths of 1,219 people, according to official Israeli figures. With reporting from © AFP 2025 Need more information on what is happening in Israel and Gaza? Check out our new FactCheck Knowledge Bank for essential reads and guides to navigating the news online. Visit Knowledge Bank Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store