Economy

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.

Stock markets and the dollar have tumbled after US President Donald Trump's latest worldwide tariffs caused a trade war that many fear will spark recession and ramp up inflation. The dollar slumped by as much as 2.6 percent versus the euro, its biggest intraday plunge in a decade. European Commission President Ursula von der Leyen said the EU was "preparing for further countermeasures" but she emphasised it was "not too late to address concerns through negotiations". China announced on Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10 as a retaliatory measure.

European Commission President Ursula von der Leyen and European Council President António Costa travelled to Uzbekistan to participate in a landmark EU–Central Asia summit. Held on 3–4 April, the event brings together EU leaders with the heads of state and government of the five Central Asian republics. Alongsidei the host, Uzbek President Shavkat Mirziyoyev, the summit was also attended by Kazakh President Kassym-Jomart Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, and Turkmen President Serdar Berdimuhamedov.

Accession to the EU is incompatible with Armenia’s continued membership in the Eurasian Economic Union, a Russian-led trade bloc that gives it tariff-free access to Russia’s vast market, according to Russian Deputy Prime Minister Aleksei Overchuk. Armenia would also have to pay much more for Russian energy resources and food, Overchuk said. Last week, the Armenian Parliament adopted a bill calling for the government to seek accession to the EU, representing a significant shift in Armenia’s foreign policy perspective away from its long-time ally Russia.

Speaking at the 12th Global Baku Forum, the former President of the European Council, Charles Michel warned that a potential trade war could stem from events originating in the White House but Europe must remain focused on further strengthening its economy. He also highlighted that the US plays an important role in Europe's security and that more investment should be made in institutional development. The Global Baku Forum is organized by the Nizami Ganjavi International Center under the patronage of Azerbaijan President Ilham Aliyev.