Europe and South America finally agree to long-sought trade deal
It took more than 25 years, but the European Union and Mercosur, the South American common market, provisionally agreed to a free trade deal, eliminating tariffs on over 90% of each other’s exports. If it passes, it would create the largest free trade zone in the world and mark the largest trade agreement the EU has ever signed, opening the door to expanded trade in agriculture and food products. The deal includes a concession to European farmers, namely early access to €45 billion ($52 billion) in agricultural aid, though that wasn’t enough to ward off opposition from France and several other countries. First envisioned when the world was careening toward globalization, the agreement now represents a bulwark to the “Donroe Doctrine” and US President Donald Trump’s extensive tariffs.
Venezuela’s Machado to make her case to Trump
Venezuela’s opposition leader, María Corina Machado, is set to meet US President Donald Trump next week, following his refusal to back her as the country’s leader after the US ousted Nicolás Maduro from power. The meeting was scheduled after Machado offered to give her Nobel Peace Prize to Trump, but the real question is whatMachado has to offer Trump beyond the award he has long coveted. The US made the decision to prioritize stability over democratic transition by keeping in place Maduro’s vice president, Delcy Rodríguez, who has the backing of Venezuela’s military. Machado may push for elections down the line, but in the short term, her leverage to convince Trump that she can take the reins in Caracas is limited.
Russia brings the war further west with ballistic missile strike
Russia fired a Oreshnik ballistic missile at Ukraine on Thursday, targeting Lviv, the country’s westernmost major city, which has largely been spared from attacks. More than a dozen missiles and hundreds of drones were also launched at the capital city, Kyiv. Last night marked only the second time Moscow has used the Oreshnik in the nearly four-year war. By striking it so close to the border with Poland – an area that serves as NATO’s hub for operations in Ukraine – Russia may have been aiming to intimidate Europe, which is preparing to take a more active role in Ukraine’s security once a ceasefire agreement is reached.
