AGP Executive Report
Last update: 40 minutes agoEU Budget: Leaders left Brussels without agreement on the 2028–34 budget, rejecting both the Commission’s €1.76 trillion plan and a proposed €141 billion cut. António Costa will seek new revenue sources, while a deal by year-end looks increasingly uncertain; an extraordinary summit is set for 26 November. Energy Costs: The summit also produced no conclusions on relief as high prices squeeze households and industry ahead of winter. Leaders are divided over measures, while Brussels weighs delaying methane rules for energy imports. Ukraine: Friedrich Merz called for more EU funding to help Kyiv through winter and next year, and rejected placing frozen Russian assets under US control. Trade and Industry: France and Germany are nearing a deal to soften the 2035 car emissions target and potentially include Britain in “Made in Europe” rules. EU leaders are also considering extending China trade safeguards to chemicals, machinery and other sectors.
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