Brussels Edition: Meloni meets Trump

Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.Italian Prime Minister G

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Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Italian Prime Minister Giorgia Meloni visits US President Donald Trump in the White House today with tariff relief and defense cooperation at the top of her agenda. Meloni hopes that her non-confrontational approach and ideological affinity with the president could get her the assurances the European Commission has so far struggled to receive. EU trade chief Maros Sefcovic made little progress on his trip to the US to avert incoming tariffs on European goods earlier this week. Even as some auto tariffs could be offset by increasing investments, production and exports from the US, most tariffs on the EU will stay, Sefcovic was told. Meloni hopes Trump will tell her something different. —Saim Saeed

What's Happening

Sanctions Workaround | The EU is exploring ways to extend its sanctions against Russia without the support of Hungary, which has repeatedly threatened to torpedo them. The commission is weighing if it can convert sanctions into trade measures, which don't require unanimous consent for approval. The next renewal is due in July. Scrapped Condemnation | The US refused to endorse a statement from the G-7 condemning a Russian strike in northern Ukraine that killed dozens, including children, saying it wanted to "preserve the space" for negotiations. Canada, which holds the G-7 presidency, told allies it would be impossible to proceed on the joint document without the US. Statehood Spat | Emmanuel Macron and Benjamin Netanyahu sparred in a call over the French president's plan to recognize Palestinian statehood. The Israeli prime minister expressed his "fierce opposition," warning that a Palestinian state would constitute a "huge prize for terrorism." Deregulation Call | Czech Prime Minister Petr Fiala criticized the EU for its "heavy-handed approach and excessive regulation" and urged the bloc to loosen its rules to boost growth and defense capabilities. Fiala's center-right coalition faces a tough election this year after budget cuts were blamed for slowing an economic recovery.

Around Europe

Pharma Exports | The value of Ireland's exports to the US jumped 200% in February, with medical and pharmaceutical goods making up a sizable share. The increase, following an 81% rise in January, indicates US drug makers with Irish manufacturing hubs may be stockpiling products ahead of potential tariffs on the sector. Poland First | Polish Prime Minister Donald Tusk told state utilities to focus on domestic interests instead of profits, saying the era of "naive globalization is over." Shares in Warsaw-listed utilities dropped after the speech, with investors worried Tusk's government will meddle in Poland's economy. Trade Potential | US Vice President JD Vance said there's a "good chance" the UK and the US will get a trade deal. That's good news for Prime Minister Keir Starmer amid a generally darkening outlook for the country, which saw employment fall at the fastest pace since the pandemic. Tourist Drop | European travelers to the US dropped by almost 15% in March as foreign tourists chose to go elsewhere. The trend is part of a broader slowdown, with international visitors rethinking plans to go to the US amid increased hostility at the border, rising geopolitical friction and global economic uncertainty.

Chart of the Day

Investor confidence in Germany's economy has plummeted after US President Donald Trump's trade measures, with the ZEW institute's expectations index falling to -14 in April from 51.6 the previous month. Optimism over plans by Germany's new government to ramp up spending has faded rapidly since Trump slapped tariffs on cars, and later on the European Union as a whole.

Today's Agenda

All times CET 5:30 p.m. European Council President Antonio Costa meets Andorran Prime Minister Xavier Espot Zamora EU gender equality ministers meet in Warsaw Financial services chief Maria Luís Albuquerque meets Societe Generale CEO Slawomir Krupa

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