EU Weighs Price of Uneven US Trade Deal
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.
The EU is prepared for any outcome in trade talks with the US, including a breakdown in negotiations, according to Ursula von der Leyen. The Commission president made the remarks in the early hours of this morning after discussing the latest proposals from the White House with the bloc's leaders in Brussels. With the US pushing for what EU officials see as unbalanced concessions, member states must decide whether to accept an unsatisfactory deal, or hit back and risk escalation and the ire of President Donald Trump. The clock is ticking. Tariffs on nearly all of the bloc's exports to the US are set to jump to 50% when a deadline expires in just under two weeks. Officials believe the best-case scenario remains an agreement on principles that would allow the negotiations to continue beyond the July 9 deadline.
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US Allies Wary of Buying American as They Plan Defense Buildup
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Allied leaders like French President Emmanuel Macron have pushed for relying on European companies to provide the weapons and the EU fast-tracked a €150 billion facility for just that purpose after Trump was elected. Canada is considering pulling out of the US-led F-35 fighter program and buying Swedish planes instead. 'We should no longer send three-quarters of our defense capital spending to America,' Canadian Prime Minister Mark Carney said earlier this month. When a group of US legislators went to Copenhagen this spring to encourage Danish officials to buy more US weapons, the message they got was clear: we like your arms, but Trump's very public threats to take over Greenland, a Danish territory, were making buying them politically difficult, according to a person familiar with the meeting. Some Danish politicians have gone further. 'Buying American weapons is a security risk that we cannot run,' Rasmus Jarlov, a conservative lawmaker who heads the defense committee in parliament, said in a post on social media platform X in March. Trump's abrupt decision to briefly suspend intelligence sharing with Ukraine earlier this year alarmed allies, according to officials, fueling fears that the US might hobble American-made weapons in a crisis. The worries got so bad that the Pentagon had to issue a public reassurance that the F-35 fighter didn't have a 'kill switch.' But the planned buildup - worth as much as €14 trillion ($16 trillion) over the next decade if related infrastructure is included, according to Carlyle - is far beyond the current capabilities of a fragmented European defense sector that's been hollowed out by decades of cuts since the end of the Cold War. And the US lead in key areas, especially missiles and other high-tech weapons, means there's often no real alternative to buying American. 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$2.34 Bn Continuous Basalt Fiber Markets - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F
The Continuous Basalt Fiber Market presents significant opportunities driven by the demand for lightweight and high-strength materials across industries like automotive, aerospace, and construction. Its durability, thermal resistance, and eco-friendly nature make it ideal for sustainable construction, offering an alternative to steel and fiberglass. Continuous Basalt Fiber Market Dublin, June 27, 2025 (GLOBE NEWSWIRE) -- The "Continuous Basalt Fiber Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" report has been added to Continuous Basalt Fiber Market was valued at USD 1.27 Billion in 2024, and is expected to reach USD 2.34 Billion by 2030, rising at a CAGR of 10.55%. This market encompasses the global production and utilization of continuous basalt fiber, an advanced material produced by melting and fiberizing basalt rock. 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Continuous basalt fiber offers a superior combination of tensile strength, corrosion and thermal resistance, and lightweight characteristics compared to traditional alternatives like steel and some regulatory pressures for fuel efficiency and emissions grow, particularly in automotive and aerospace sectors, manufacturers are increasingly turning to basalt fiber for its optimal strength-to-weight ratio. In the construction industry, its application in concrete reinforcement and road surfacing is gaining momentum due to its durability, cost-effectiveness, and eco-friendly profile. These factors collectively support the robust demand for basalt fiber across expanding industrial Market Challenges Slower Commercial AdoptionDespite its superior material properties, the market faces a key hurdle in the slow pace of commercial adoption. 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Key Attributes: Report Attribute Details No. of Pages 180 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $1.27 Billion Forecasted Market Value (USD) by 2030 $2.34 Billion Compound Annual Growth Rate 10.5% Regions Covered Global Report Scope: Key Market Players Basalt Fiber Tech Kamenny Vek Company Shanxi Yaxin Group China National Petroleum Corporation (CNPC) Pultron Composites Limited Basalt Fiber Solutions Technobasalt LLC Merino Group Continuous Basalt Fiber Market, By Product Type: Roving Chopped Strands Fabrics Others Continuous Basalt Fiber Market, By Processing Technology: Pultrusion Vacuum Infusion Texturizing Stitching & Weaving Others Continuous Basalt Fiber Market, By End-User: Construction Transportation Industrial Others Continuous Basalt Fiber Market, By Region: North America United States Canada Mexico Europe France United Kingdom Italy Germany Spain Asia-Pacific China India Japan Australia South Korea South America Brazil Argentina Colombia Middle East & Africa South Africa Saudi Arabia UAE Kuwait Turkey For more information about this report visit About is the world's leading source for international market research reports and market data. 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How Trump could get his July 4 megabill
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MEANWHILE, IN KENTUCKY — Businessman Nate Morris entered the GOP primary to succeed Sen. Mitch McConnell. Separately, Axios reported the super PAC Trump's political operation launched to oust Rep. Thomas Massie is going up with its first TV ad against Massie, part of a $1 million buy. It highlights votes Massie's taken against Trump-backed legislation and claims that by criticizing the president's decision to strike Iran, he 'sided' with the nation's supreme leader. TUNNEL TALK DACA DO-OVER — House appropriators added a proposal to allow DACA recipients to work in Congress in the Legislative Branch funding bill, with an amendment sponsored by Rep. Pete Aguilar, our Katherine Tully-McManus reports. Similar amendments have been adopted before, only to be nixed later by GOP leaders to appease hard-liners. 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The first person to correctly guess gets a mention in the next edition of Inside Congress. Send your answers to insidecongress@
