The US is proposing a new round of significant tariffs on a wide range of countries, including key allies. This move, aimed at reviving Trump-era policies, suggests a broader shift towards protectionism that could disrupt global supply chains and invite retaliatory measures.
The EU is formalizing its strategy to reduce dependency on US tech giants through a comprehensive package targeting cloud computing, AI, and semiconductors. Despite ambitious goals, the plan is hampered by the sheer market dominance of US firms and internal challenges like funding delays for key projects like AI data centers.
Direct military exchanges between the US and Iran are testing a fragile ceasefire in the Middle East. A top executive from Vitol warns that Western governments are 'asleep at the wheel' regarding a growing oil supply crunch, with significant demand destruction already occurring as markets brace for further conflict.
The technology and fintech sectors are demonstrating immense ambition with massive planned IPOs for companies like SpaceX and Revolut. Revolut's founder, Nikolai Stronsky, could see his personal wealth soar to $76 billion, illustrating the staggering value creation in the sector, but the company also faces significant regulatory hurdles and scrutiny as it scales globally.
UK lawmakers are pushing back against reliance on foreign technology firms for critical national infrastructure, exemplified by the call to cancel the government's contract with US software company Palantir. This reflects a growing political backlash and a desire for greater control over public sector data and technology vendors.
Keep pulling the thread on European Union.