What We’re Watching: EU vs Ukraine, South Korea-US side deals

EU vs Ukraine?

Ukraine now finds itself on shakier ground with EU members. At a time when its wartime economy badly needs a boost, the bloc will impose higher tariffs on Ukraine’s exports, particularly farm products, on June 6 in response to pressure from member-state farmers. It’s a politically sensitive moment, particularly in Poland, which holds first-round elections on Sunday.

It’s a reminder that, while Russia’s invasion and uncertainty over Donald Trump’s NATO intentions have focused European minds on security, they’ve also stoked anxiety within the EU about which countries will shoulder more of the burden of defending Ukraine and European borders.

Kyiv had another setback this week: Russian President Vladimir Putinwon’t attend peace talks with the Ukrainians in Istanbul Thursday, despite calls to do so from Ukrainian President Volodymyr Zelensky.

South Korea seeks US side deal as Asia-Pacific trade leaders meet

Trade envoys from the 21-member Asia-Pacific Economic Cooperation group – which includes the US, China, and Russia – are gathering in South Korea today and tomorrow amid a turbulent period in international trade.

Home-court advantage. With talks on home turf, South Korea has taken the opportunity to set up a bilateral meeting with the US. But Korea’s presidential election on June 3 – which Democratic Party nominee Lee Jae-myung is expected to win – could affect the chances of a deal.

“July 8 is the deadline that current negotiators have set,” says Eurasia Group regional expert Jeremy Chan. “The question is whether Lee will agree with this time frame.”