Economy

US President Donald Trump on Friday said he is “recommending a straight 50% Tariff on the European Union” after complaining that trade negotiations have stalled. The steep new import duties would start on 1st June, Trump wrote on Truth Social. The EU “has been very difficult to deal with,” Trump wrote. “Our discussions with them are going nowhere!”

The US has agreed to sell Saudi Arabia an arms package worth nearly $142 billion, according to a White House fact sheet that called it "the largest defence cooperation agreement" Washington has ever done. The agreement, signed during US President Donald Trump's visit to the Saudi capital Riyadh, covers deals with more than a dozen U.S. defence companies in areas including air and missile defence, air force and space advancement, maritime security and communications, the fact sheet said. Saudi Arabia is the largest customer of U.S. arms.

China and Azerbaijan have announced the establishment of a comprehensive strategic partnership between the two countries following talks between Chinese President Xi Jinping and Azerbaijani President Ilham Aliyev in Beijing on 23 April. During the talks, President Xi said that both sides should continuously enhance political mutual trust, deepen practical cooperation and strengthen international collaboration to open a new chapter of all-round cooperation. President Aliyev was in China for  a state visit between 22 and 24 April.

In recent times, Central Asia’s most populous nation has become the centre of attention for great powers, underscored by high level diplomatic contacts with the United States, the hosting of a regional summit with the leadership of the European Union and a high profile visit by hundreds of Russian officials and executives who participated in a trade fair in Tashkent. Western interest centres on Uzbekistan’s abundant reserves of critical minerals and a desire to develop clean energy  sources, including nuclear power. Russia, along with China, has broader trade interests, including developing manufacturing capacity.

The United States and Ukraine have signed a minerals deal after a two-month delay, in what President Donald Trump's administration called a new form of US commitment to Kyiv after the end of military aid. Ukraine said it secured key interests after protracted negotiations, including full sovereignty over its own rare earths, which are vital for new technologies and largely untapped. Trump had initially demanded rights to Ukraine's mineral wealth as compensation for US weapons sent under former president Joe Biden after Russia invaded just over three years ago.

In Armenia tech education starts early. In a typical three-storey state school in the suburbs of Yerevan, the Armenian capital, nine-year old Slavik is demonstrating his invention, a box with three LED lights.  Next to him, 14-year-old Eric and Narek are showing their smart greenhouse model that monitors temperature and controls fans automatically through a mobile app. Other children are enthusiastically showcasing their inventions: games, robots, apps and smart home projects. Eleven-year-old Arakel is holding his cardboard model of a house with a retractable clothesline.

On Wednesday (9 April) a new coalition government was announced in Germany bringing back a CDU chancellor working with the centre-left SPD as junior partners. It is an arrangement that Germans are familiar with. Many post-war German governments were similarly constituted, and the German people are comfortable with this arrangement. It buries the prospect of the far-right Alternative fur Deutschland  (AfD), which came second in recent elections, having a role in government. The 146 pages coalition agreement was hammered out in a relatively short time, with those negotiating fully aware of the urgency of giving the country a stable government at a time of global uncertainty and serious domestic challenges. “Germany is back on track” announced the Chancellor-designate, Friedrich Merz, who is expected to take office in early May. Europeans should be happy. A strong Germany is the backbone of Europe, and the new coalition is the best guarantee of that.

The EU on Wednesday adopted its first measures hitting back at President Donald Trump’s tariff onslaught, targeting more than 20 billion euros of US goods including soybeans, motorcycles and beauty products. The levies of up to 25 per cent are retaliation for US duties on steel and aluminium imposed last month - with Europe's response to Trump's latest tariffs salvo yet to be announced.