For the European Commission president, Ursula von der Leyen, the EU's trade pact with India was the mother of all deals. Seen from the other end of the telescope, it looked like the mouse of all deals, with just 4bn (3.5bn) in tariff reductions a rounding error in a 180bn trading relationship. But that misses the point: this is about economic heavyweights resetting the terms of their cooperation because of Donald Trump's use of tariffs as a tool of economic and political compulsion.
The mother of all trade deals' comes months after the United States slapped tariffs on India and the European Union. One of the biggest trade deals in history has been struck by India and the European Union, months after United States President Donald Trump hit both with tariffs. What's in the agreement and how much is driven by Washington's unpredictable measures?
Germany and Italy are deepening defense and economic cooperation with the leaders of the two countries signing an agreement in Rome. German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni agreed on closer cooperation in the production of drones, naval vessels, underwater systems and air and missile defense systems. The leaders are also looking to collaborate in the development of electronic warfare and aerial combat defense systems.