FT News Briefing The mad dash for trade deals
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Jul 3, 2025 European CEOs are pushing hard against new AI regulations, fearing loss of competitiveness. Meanwhile, trade officials are racing to secure agreements before tariffs kick in again. The Pentagon has halted some arms shipments to Ukraine amidst ongoing conflict, raising concerns. In the UK, welfare reform is in turmoil, with rising tax discussions looming as the government struggles with budget goals. The dynamics of these political and economic tensions paint a vivid picture of current global challenges.
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EU CEOs Seek AI Act Delay
- European CEOs from firms like Airbus and BNP Paribas urge postponing the EU AI Act for two years.
- They believe strict AI regulations threaten EU competitiveness in the global AI race.
U.S. Races to Cut Tariff Deals
- The U.S. is in serious talks with 18 countries to avoid Trump's tariff increases starting July 9th.
- Only the UK, Vietnam, and a truce with China have resulted in trade agreements so far.
Countries’ Tactics Against Tariffs
- Countries negotiate by pledging to buy more U.S. goods like weapons and agriculture.
- They also try to ease non-tariff barriers like digital services tax to satisfy the U.S.