U.S. President Donald Trump escalated trade tensions with Canada, announcing tariffs of 25% on aluminum and steel imports, potentially rising to 50%, starting Wednesday. He also threatened measures that could halt Canadian automotive production, urging Canada to become the "51st state."
In response to perceived threats and uncertainty surrounding U.S. commitment, the European Union is considering a plan to boost its defense capabilities. Ursula von der Leyen highlighted the need for increased defense spending and investment in European military industry, proposing a new financial instrument, SAFE, offering up to €150 billion in loans for military equipment investments.