EU Transportation News Updates

Europe has moved more slowly than the U.S. to draw down emergency oil reserves in response to war-driven turmoil in global markets, leaving the region with significant supplies still available. 

Canadian Prime Minister Mark Carney said closer ties with Europe would ensure no country could control Canada’s markets or undermine its sovereignty.

Canada is seeking to reduce its dependence on the United States, the destination for roughly 70% of its exports, and Prime Minister Mark Carney has called for a “unique alliance” with the EU.

CEO Karin Radstrom said, “I think these penalties aren’t fair,” and Daimler Truck has “done its homework” by developing several emission-free truck models.

The president cited Spain's lack of support for the war in Iran and what he described as its failure to meet NATO commitments.

BP boosted jet fuel production at its European refineries by about 30% during the Iran conflict, helping the region avoid major shortages while millions of barrels were locked up in the Persian Gulf.

The European Commission, the bloc’s executive arm, wants 35% of oilseeds and protein crops used in animal feed to be EU-grown by 2035.

The White House on June 2 announced a proposal to hit 60 economies with tariffs of at least 10%. That has caused uncertainty for some trading partners including the EU.

The EU is under a tight deadline to implement the trade pact, as Trump has vowed to hit the bloc with new levies if it doesn’t approve the agreement by July 4. 

Trump previously threatened to hike tariffs on European auto imports to 25% from 15% because the EU hadn’t moved quickly enough to implement the deal.