FT News Briefing
UK races to avoid Trump tariffs
Mar 21, 2025
European countries are stepping up their defense commitments as they reassess roles within NATO. The UK is engaged in crucial trade talks with the US to sidestep looming tariffs, balancing international relationships post-Brexit. Key discussions also focus on the diverging monetary policies of major central banks, questioning the US's role on the global stage. In a notable twist, Kirstie Coventry becomes the new president of the International Olympic Committee, marking a significant shift in sports governance.
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Quick takeaways
- European nations are investing in military capabilities over the next 5-10 years to reduce reliance on U.S. NATO support.
- The U.K. grapples with a trade deal with the U.S. to circumvent tariffs, notably concerning the contentious digital services tax.
Deep dives
NATO's Strategic Shift
European countries are strategizing on how to fill a potential financial gap in NATO should the U.S. reduce its contributions or withdraw from the alliance. Nations including the U.K., France, Germany, and several Nordic countries are collaborating to increase their military investments to mirror current U.S. expenditure. This shift reflects an urgency among European powers to ensure collective defense efforts remain robust without relying solely on American support. However, achieving comparable military spending levels could take five to ten years, underscoring the challenge ahead.
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