expresses

Former US Vice-President Kamala Harris has expressed concern that she didn’t ask Joe Biden to pull out of the race for the White House.

In an interview with the BBC for Sunday with Laura Kuenssberg, she said: “I do reflect on whether I should have had a conversation with him, urging him not to run for re-election.”

After months of speculation about his health and mental acuity, President Biden ended his re-election bid in July 2024 after a disastrous performance in a debate against Donald Trump a few weeks earlier.

Harris, who stepped in as the Democratic nominee but lost to Trump, has revealed in her book about her three-month campaign that she did not discuss with President Biden her concerns over his ability. Nor did the then 81-year-old raise the issue with her.

In the book, 107 Days, the former vice-president wrote that Biden’s decision to run again was a choice that shouldn’t have “been left to an individual’s ego, an individual’s ambition”. She wrote that “perhaps” she should have raised it with him.

In this interview she told the BBC that she still ponders whether she should have acted differently and talked to him about it.

“I do reflect on whether I should have had a conversation with him, urging him not to run.” She said “my concern, especially on reflection is, should I have actually raised it”. She questioned whether it was “grace or recklessness” that stopped her speaking up.

Her worry, she added, was not Biden’s capacity to do the job of commander in chief but about whether he would meet the demands of a gruelling election campaign to stay in the White House.

When pressed on why there is a distinction, she said there was a serious difference between running for the office and conducting the duties of being president. And running against Trump is even more demanding, she said.

She said she had a “concern about his [Biden’s] ability, with the level of endurance, energy, that it requires, especially running against the now current president”.

The former vice-president said it was hard for her to speak up because she risked being accused of promoting her own political interests if she had confronted Biden about his health.

“Part of the issue there was that it would – would it have actually been an effective and productive conversation, given what would otherwise appear to be my self-interest?”

The issue of whether more people in Biden’s circle could have challenged him about the wisdom of him running again has become a major talking point.

One book, Original Sin by Jake Tapper and Alex Thompson, alleged that people close to him covered up his physical deterioration from the public.

Biden’s aides have pushed back at the allegation, saying there were physical changes as he got older but no evidence of mental incapacity and nothing that affected his ability to do the job.

In his first interview after leaving the White House, in May of this year, Biden told the BBC it would not have mattered if he had left the race any earlier.

His former vice-president is in the UK promoting her new book. In a wide-ranging conversation for the Sunday with Laura Kuenssberg programme, Harris also said it was “possible” she could run for the White House again.

She has already ruled out running for governor in her home state, California, and the former prosecutor told the BBC she was “not done” with public service.

Democratic gubernatorial candidate Katie Porter, under fire for recently emerged videos showing her scolding a reporter and swearing at an aide, expressed remorse for her behavior on Tuesday in her first public remarks since the incidents were publicized.

Porter, a former Orange County congresswoman and a top candidate in California’s 2026 governor’s race, said that she “could have handled things better.”

“I think I’m known as someone who’s able to handle tough questions, who’s willing to answer questions,” Porter told Nikki Laurenzo, host of Inside California Politics and anchor on Fox40 in Sacramento. “I want people to know that I really value the incredible work that my staff can do. I think people who know me know I can be tough. But I need to do a better job expressing appreciation for the amazing work my team does.”

Last week, a video emerged of Porter telling a separate television reporter that she doesn’t need the support of the millions of Californians who voted for President Trump, and brusquely threatening to end the interview because the reporter asked follow-up questions. The following day, a second video emerged of Porter telling a young staffer “Get out of my f—ing shot!” while videoconferencing with a member of then-President Biden’s cabinet in 2021.

Porter on Tuesday said that she had apologized to the staffer. She repeatedly sidestepped Laurenzo’s questions about whether other videos could emerge.

“What I can tell you … is that I am taking responsibility for the situation,” Porter said.

Porter’s behavior in the videos underscored long-standing questions about her temperament and high staff turnover while she served in Congress.

The most recent polls showed that Porter held a narrow lead in the competitive race to replace Gov. Gavin Newsom, who is serving his second and final term as governor. After the videos emerged last week, several of Porter’s rivals criticized her behavior, including former state Controller Betty Yee, who said she should drop out of the race.

On Tuesday, Yee argued that Porter’s temperament could imperil Democrats’ efforts to pass Proposition 50, the Nov. 4 ballot measure to redraw congressional districts in California to boost their party’s numbers in the House.

Yee, a former vice chair of the state Democratic party, warned that a Republican could potentially win the governor’s race and Democrats could lose the U.S. House of Representatives because of Porter’s “demeanor.”

“I don’t relish picking a fight, and it’s not even a fight,” Yee said during a virtual press conference. “I’m doing what’s best for this party.”

Porter is also expected to address the issue Tuesday night during a virtual forum with the California Working Families Party.

Prior to her statements on Tuesday, Porter had released one statement about the 2021 video, saying, “It’s no secret I hold myself and my staff to a high standard, and that was especially true as a member of Congress. I have sought to be more intentional in showing gratitude to my staff for their important work.”

The UC Irvine law professor has not responded to multiple interview requests from the Times.

Mehta reported from Los Angeles and Smith reported from Sacramento.

The US has launched four attacks on the Caribbean region in recent weeks as part of what it says is a war on drugs.

Russia has condemned a US strike on a boat allegedly carrying illegal drugs off the coast of Venezuela that killed four people on Friday and warned of potential escalation in the entire Caribbean region.

In a phone call to his Venezuelan counterpart, Yvan Gil, on Sunday, Russian Foreign Minister Sergey Lavrov condemned the attack, which took place in international waters.

“The ministers expressed serious concern about Washington’s escalating actions in the Caribbean Sea that are fraught with far-reaching consequences for the region,” said a statement by the Russian Foreign Ministry following the conversation.

“The Russian side has confirmed its full support and solidarity with the leadership and people of Venezuela in the current context.”

US Defence Secretary Pete Hegseth told Fox News in an interview on Sunday that he had “every authorisation needed” to conduct military strikes on vessels off the coast of Venezuela. He did not provide more details about what the authorisation granted his office permission to do.

In a post on X following Friday’s strike, Hegseth claimed the vessel was transporting “substantial amounts of narcotics — headed to America to poison our people”.

“These strikes will continue until the attacks on the American people are over!!!!,” he said.

In a nearly 40-second video of the strike shared by Hegseth, a vessel can be seen moving through the water before a web of projectiles falls on the boat and the surrounding water, causing the boat to explode on impact.

He claimed that the intelligence “without a doubt” confirmed that the vessel was carrying drugs and that the people on board were “narco-terrorists”. He disclosed neither the amount nor the type of alleged drugs aboard, and he did not release any evidence to support his assertion that the targets of the strike were drug smugglers.

US war against drug cartels

The latest strike brings the number of such United States attacks to at least four, leaving at least 21 people dead.

US President Donald Trump notified Congress on Thursday that his administration had determined that members of drug cartels are “unlawful combatants” with whom the US is engaged in “non-international armed conflict”.

Trump on Sunday told reporters at the White House that the US military build-up in the Caribbean had halted drug trafficking from South America. “There’s no drugs coming into the water. And we’ll look at what phase two is,” he said, without providing more details on his plans.

Venezuelan President Nicolas Maduro has repeatedly alleged that the US is hoping to drive him out of power. Venezuelan Defence Minister General Vladimir Padrino said on Thursday — when the country blasted an “illegal incursion” near its borders by US warplanes — that US attacks were “a vulgarity, a provocation, a threat to the security of the nation”.

Washington has cited the US Constitution, war powers, designation of drug cartels as “foreign terrorist organizations”, the right to self-defence and international law on unlawful combatants as the legal basis for the strikes.

Some legal experts and lawmakers argue that using military force in international waters against alleged criminals bypasses due process, violates law enforcement norms, lacks a clear legal foundation under US and international law, and is not justified by the cartels’ “terrorist” designation.

WASHINGTON — The Indian government expressed concern Saturday about President Trump’s latest push to overhaul American immigration policy, dramatically raising the fee for visas that bring tech workers from India and other countries to the United States.

The president on Friday signed a proclamation that will require a $100,000 annual fee for H-1B visas — meant for high-skilled jobs that tech companies find hard to fill. He also rolled out a $1-million “gold card” visa for wealthy individuals, moves that face near-certain legal challenges amid widespread criticism that he is sidestepping Congress.

If the moves survive legal muster, they will deliver staggering price increases. The visa fee for skilled workers is currently $215.

India’s Ministry of External Affairs said Saturday that Trump’s plan “was being studied by all concerned, including by Indian industry.” The ministry warned that “this measure is likely to have humanitarian consequences by way of the disruption caused for families. Government hopes that these disruptions can be addressed suitably by the U.S. authorities.”

More than 70% of H-1B visa holders are from India.

H-1B visas, which require at least a bachelor’s degree, are meant for high-skilled jobs that tech companies find difficult to fill. Critics say the program undercuts American workers, luring people from overseas who are often willing to work for as little as $60,000 annually. That is well below the $100,000-plus salaries typically paid to U.S. technology workers.

Trump said Friday that the tech industry would not oppose the move. Commerce Secretary Howard Lutnick claimed that “all big companies” are on board.

Representatives for the biggest tech companies, including Amazon, Apple, Google and Meta, did not immediately respond to messages for comment. Microsoft declined to comment.

“We’re concerned about the impact on employees, their families and American employers,” the U.S. Chamber of Commerce said in a statement. “We’re working with the Administration and our members to understand the full implications and the best path forward.”

Lutnick said the change would probably result in far fewer H-1B visas than the 85,000 annual cap allows because “it’s just not economic anymore.”

“If you’re going to train people, you’re going to train Americans,” Lutnick said on a conference call with reporters. “If you have a very sophisticated engineer and you want to bring them in … then you can pay $100,000 a year for your H-1B visa.”

Trump also announced that he will start selling a “gold card” visa with a path to U.S. citizenship for $1 million after vetting. For companies, it would cost $2 million to sponsor an employee.

Trump also announced a “platinum card,” which could be obtained for $5 million and would allow foreigners to spend up to 270 days in the U.S. without being subject to U.S. taxes on non-U.S. income. Trump announced a $5-million gold card in February to replace an existing investor visa — this is now the platinum card.

Lutnick said the gold and platinum cards would replace employment-based visas that offer paths to citizenship, including for professors, scientists, artists and athletes.

Critics of H-1Bs visas who say they are used to replace U.S. citizens in certain jobs applauded the move. U.S. Tech Workers, an advocacy group, called it “the next best thing” to abolishing the visas.

Doug Rand, a senior official at U.S. Citizenship and Immigration Services during the Biden administration, said the proposed fee increase was “ludicrously lawless.”

“This isn’t real policy — it’s fan service for immigration restrictionists,” Rand said. “Trump gets his headlines, and inflicts a jolt of panic, and doesn’t care whether this survives first contact with the courts.”

“The president has no legal authority to tax American visas,” said Michael Clemens, a George Mason University economist who studies immigration. “He has the authority to charge reasonable fees for cost recovery, not set fees at $100,000 or $100 million or whatever suits his personal … arbitrary capricious whims.

“If the president feels that H-1B visas are harmful, he can work with the people’s representatives in Congress to reform the laws that regulate those visas. His choice to legislate by proclamation subverts our entire immigration governance system,’’ said Clemens, who is also a senior fellow at the Peterson Institute for International Economics. “Beyond that, it is poisonous [and] irresponsible to do so with no warning, no public debate, leaving hundreds of thousands of workers and millions of their colleagues and family members in chaos and fear.’’

Lutnick said the H-1B fees and gold card could be introduced by the president but the platinum card needs congressional approval.

Historically, H-1B visas have been doled out through lottery. This year, Amazon was by far the top recipient of H-1B visas, with more than 10,000 awarded, followed by the Indian firm Tata Consultancy, then Microsoft, Apple and Google. Geographically, California has the highest number of H-1B workers.

Critics say H-1B spots often go to entry-level jobs, rather than senior positions with unique skill requirements. And while the program isn’t supposed to undercut U.S. wages or displace U.S. workers, critics say companies can pay less by classifying jobs at the lowest skill levels, even if the specific workers hired have more experience.

As a result, many U.S. companies find it cheaper to contract out help desks, programming and other basic tasks to consulting companies such as Wipro, Infosys, HCL Technologies and Tata — all in India — and IBM and Cognizant in the U.S. These consulting companies hire foreign workers, often from India, and contract them out to U.S. employers looking to save money.

Ron Hira, a professor in the political science department at Howard University and a longtime critic of H-1B visas, said the plan was a move in the right direction.

“It’s a recognition that the program is abused,’’ he said.

Raising the visa fee, he said, was an unusual way to address the H-1B program’s shortcomings. Normally, he said, reformers seek ways to raise the pay of the foreign workers, eliminating the incentive to use them to replace higher-paid Americans. He noted approvingly that Trump’s proclamation calls for the U.S. Labor Department to “initiate a rule-making [process] to revise the prevailing wage levels’’ under the visa program.

Critics of H-1B visas have also called on the lottery to be replaced by an auction in which companies vie for the right to bring in foreign workers.

First Lady Melania Trump, the Slovenian-born former Melania Knauss, was granted an H-1B work visa in October 1996 to work as a model.

In 2024, lottery bids for the visas plunged nearly 40%, which authorities said was due to success against people who were “gaming the system” by submitting multiple, sometimes dubious, applications to unfairly increase chances of being selected.

Major technology companies that use H-1B visas sought changes after massive increases in bids left their employees and prospective hires with slimmer chances of winning the random lottery. Facing what it acknowledged was likely fraud and abuse, U.S. Citizenship and Immigration Services this year said each employee had only one shot at the lottery, whether the person had one job offer or 50.

Critics welcomed the change but said more needs to be done. The AFL-CIO wrote last year that while changes to the lottery “included some steps in the right direction,” it fell short of needed reforms. The labor group wants visas awarded to companies that pay the highest wages instead of by random lottery, a change that Trump sought during his first term in the White House.

Associated Press writers Ortutay and Kim reported from Oakland and Washington, respectively. AP writers Adriana Gomez Licon in Fort Lauderdale, Fla., Elliot Spagat in San Diego and Paul Wiseman in Washington contributed to this report.

Sept. 14 (UPI) — The United States’ second-most senior diplomat expressed regret Sunday over the recent immigration raid at a Hyundai car battery plant in Georgia.

U.S. Deputy Secretary of State Christopher Landau met Sunday with First Vice Minister of Foreign Affairs Park Yoon-joo to discuss cooperation in the continued efforts to resolve the diplomatic spat stemming from the raid, South Korea’s Foreign Ministry said in a statement.

During the meeting, Park highlighted the “uncomfortable treatment” faced by hundreds of South Korean nationals who were detained and deported after the raid and the shock felt across the country at the incident.

“Deputy Secretary Landau expressed deep regret over the incident and proposed using it as a turning point to improve the [visa] system and strengthen the [Republic of Korea-United States] relationship,” the foreign ministry said. Landau was also said to have recognized the significant contributions and investments made by Korean companies for the “revitalization of the U.S. economy and manufacturing industry.”

He added that President Donald Trump is also “highly concerned” about this issue, and that he will ensure that Korean workers who return to the United States will not difficulty with reentering, South Korean officials said.

“The United States welcomes and encourages foreign investment in our country and therefore logically welcomes and encourages the personnel necessary to get those investments up and running,” Landau said in a post to social media after the meeting.

“These are the kind of visitors we want, who are creating American jobs and prosperity right here at home. Korean companies are poised to make massive new investments in our country in shipbuilding among other industries.”

More than 300 workers from South Korea were arrested earlier this month during the raid at the factory, which Hyundai Motor Group and LG Energy Solution operate. More than 150 other workers were also detained.

The raid was announced by the Bureau of Alcohol, Tobacco, Firearms and Explosives and included officers from other agencies, such as Homeland Security Investigations and U.S. Immigration and Customs Enforcement. It marked one of the largest immigrant raids in modern American history.

Last Sunday, a senior South Korean official said that the country will charter a plane for the return of hundreds of workers who were detained.

The family of Virginia Giuffre, who was among Jeffrey Epstein’s most well-known sex trafficking accusers, said that it was shocking to hear President Trump say the disgraced financier “stole” Giuffre from him and urged that Epstein’s former girlfriend Ghislaine Maxwell remain in prison.

Giuffre, who had accused Britain’s Prince Andrew and other influential men of sexually exploiting her as a teenager trafficked by Epstein, has been a central figure in conspiracy theories tied to the case. She died by suicide this year.

Her family’s statement is the latest development involving Epstein, who took his own life in a New York jail in 2019 while facing federal sex trafficking charges, and the Republican president, who was his one-time friend. Trump denied prior knowledge of Epstein’s crimes and said he cut off their relationship years ago, but he still faces questions about the case.

Trump, responding to a reporter’s question on Tuesday, said that he got upset with Epstein over his poaching of workers and that Epstein had stolen Giuffre from his Palm Beach, Fla., club.

“It was shocking to hear President Trump invoke our sister and say that he was aware that Virginia had been ‘stolen’ from Mar-a-Lago,” the family’s statement said.

“We and the public are asking for answers; survivors deserve this,” it continued.

White House Press Secretary Karoline Leavitt noted the president was responding to a reporter’s question and didn’t bring up Giuffre himself.

“The fact remains that President Trump kicked Jeffrey Epstein out of his club for being a creep to his female employees,” she said.

The family’s statement comes shortly after the Justice Department interviewed Maxwell, who was convicted in 2021 on sex trafficking and other charges and is serving a 20-year sentence in Tallahassee, Fla. Deputy Atty. Gen. Todd Blanche interviewed Maxwell in a Florida courthouse, though details about what she said haven’t become public.

Maxwell’s lawyers have said she testified truthfully and answered questions “about 100 different people.” They have said she’s willing to answer more questions from Congress if she is granted immunity from future prosecution for her testimony and if lawmakers agree to satisfy other conditions.

A message seeking comment about the Giuffre family’s statement was sent to Maxwell’s attorney Thursday.

A Trump administration official said the president is not currently considering clemency action for Maxwell.

Giuffre said she was approached by Maxwell in 2000 and eventually was hired by her as a masseuse for Epstein. But the couple effectively made her a sexual servant, she said, pressuring her into gratifying not only Epstein but his friends and associates.

Giuffre said she was flown around the world for appointments with men including Prince Andrew while she was 17 and 18 years old.

The men, including Andrew, denied it and assailed Giuffre’s credibility. She acknowledged changing some key details of her account.

The prince settled with Giuffre in 2022 for an undisclosed sum, agreeing to make a “substantial donation” to her survivors’ organization.

The American-born Giuffre lived in Australia for years and became an advocate for sex trafficking survivors after emerging as a central figure in Epstein’s prolonged downfall.

Her family’s statement said she endured death threats and financial ruin over her cooperation with authorities against Epstein and Maxwell.

Catalini writes for the Associated Press.

July 11 (UPI) — British Home Secretary Yvette Cooper said Friday she expected Brussels to back a new so-called “one-in, one-out” deal with France aimed at curbing the number of migrants crossing the English Channel in small boats.

Cooper said she was confident the European Commission would endorse the pilot scheme signed by British Prime Minister Keir Starmer and French President Emmanuel Macron during a state visit after Paris said it needed legal authorization.

The deal, which would see France take back migrants from Britain for the first time in an arrangement under which one migrant who arrives without permission is returned for each migrant with a legal asylum claim in France that Britain takes in, must also be approved by the other 26 EU countries.

Speaking to a London radio station, she added that she didn’t believe the scheme would be blown off track by resistance from countries fearful they might end up dealing with returned migrants, particularly frontline nations Greece, Cyprus, Spain, Italy and Malta which bear the brunt of migration from Africa and the Middle East and beyond.

“We have been talking to the EU commissioners. We’ve also been talking to other European interior ministers and governments throughout this process. The French interior minister and I have been speaking about this, to develop this, since October of last year, and the EU commissioners have been very supportive,” Cooper said.

“So that is why we have designed this in a way to work, not just for the U.K. and France, but in order to fit with all their concerns as well.”

However, Brussels said Friday that it needed more information regarding the “substance and form” of the deal to be able to form a view on its legality before endorsing the plan, saying it needed to comply with EU law, both in spirit and practice.

“What we have now is an announcement and a political agreement, in principle, to have a pilot agreement,” said an EU commission spokesman.

“Once we know more about the substance and the form of that, we can tell you more about it, but we will look at this together with U.K. and France we will be working with all parties involved.”

Cooper also insisted she was confident the plan would hold up against legal challenges that caused years of delays that ultimately sank a previous “deterrence” strategy championed by then-Prime Minister Rishi Sunak involving sending irregular migrants to Rwanda.

Shadow Home Secretary, Conservative MP Chris Philp, condemned the scheme as a publicity stunt.

“Starmer’s deal yesterday is a gimmick that won’t work, just like his ‘smash the gangs’ claim (now never mentioned) was a gimmick that didn’t work,” he said in a post on X.

The deal announced Thursday has been short on details, apart from stressing it would dismantle the business model of the criminal gangs smuggling people to Britain in often unseaworthy small dinghies, but the BBC said 50 people would be exchanged each week, initially.

A news release from the Home Office, Downing Street and the Border Force said the plan will be rolled out in tandem with action on so-called “pull factors,” such as the ability to find work illegally, that make Britain so attractive to migrants, which was repeatedly raised by Macron and the French side during his visit.

The government pledged a “major nationwide blitz targeting illegal working hotspots, focusing on the gig economy and migrants working as delivery riders.”

“The U.K. will go further by changing the law to support a clampdown on illegal working in the gig economy. New biometric kits will be rolled out for Immigration Enforcement teams so they can do on-the-spot checks,” the statement added.

US President Donald Trump said he is tired of the meaningless “b*******” from his Russian counterpart Vladimir Putin during negotiations over the war on Ukraine. He added that extra sanctions could be on the table.

Iranian president says neither Qatar nor its people were targets of attack on US base in the gas-rich Gulf nation.

Iranian President Masoud Pezeshkian has expressed his “regret” to Qatar’s Emir Sheikh Tamim bin Hamad Al Thani over Tehran’s missile attack on a US base on Monday.

In a phone call on Tuesday with the emir, Pezeshkian noted that neither Qatar nor its population were the target of the attack on the Al Udeid Air Base, the United States base in Qatar, and that it did “not represent a threat” to the Gulf nation, the Diwan (emir’s office) said in a statement.

“[Pezeshkian] stressed that the State of Qatar will remain a neighbouring, Muslim, and sisterly state, and expressed his hope that relations between the two countries will always be based on the principles of respect for the sovereignty of states and good neighbourliness,” the statement said.

Iran launched 19 missiles at the US base, which is the largest in the Middle East, with Qatari defence forces intercepting 18 of them, according to officials from the Ministry of Interior. Iran’s Islamic Revolutionary Guard Corps (IRGC) said it had launched this “powerful and devastating missile attack” in response to the “blatant military aggression” by the US on Iran’s nuclear facilities on Sunday.

سمو الأمير المفدى يتلقى اتصالاً هاتفياً من فخامة الرئيس الدكتور مسعود بزشكيان رئيس الجمهورية الإسلامية الإيرانية. https://t.co/xrn7hpCfPR

— الديوان الأميري (@AmiriDiwan) June 24, 2025

Translation: His Highness the Emir receives a phone call from His Excellency Dr. Masoud Pezeshkian, President of the Islamic Republic of Iran.

During the Iranian attack, a series of flares and loud explosions were observed in Qatar’s capital, Doha, as well as other areas of the country. Qatari officials confirmed that the airbase was evacuated before the attack.

According to the Diwan, the emir “reiterated Qatar’s strong condemnation” of the attack, considering it a “flagrant violation of its sovereignty and airspace”.

“His Highness the Emir also expressed that this violation is completely inconsistent with the principle of good neighbourliness and the close relations between the two countries, especially since Qatar has always been an advocate of dialogue with Iran and has made strenuous diplomatic efforts in this regard,” the statement added.

Iran and Qatar have long enjoyed fraternal relations, and the Qatari government has condemned both the Israeli and US attacks on Iran. But Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani spoke at a news conference on Tuesday of a “scar” to relations between Doha and Tehran that would need time to heal.

Earlier on Tuesday, Qatar’s Foreign Ministry said it sent a letter to United Nations Secretary-General Antonio Guterres and the UN Security Council, denouncing the IRGC’s “extremely dangerous escalation” and saying the attack posed a “direct threat to regional peace and security”.

The tit-for-tat attacks between the US and Iran come amidst the conflict between Israel and Iran, which began on June 13, after the Israeli army struck multiple targets inside Iran.

Hours after the attack on the Al Udeid Air Base, US President Donald Trump announced late on Monday that Israel and Iran had agreed to a ceasefire. Nevertheless, both countries have accused each other of violating the truce.

By Tina Teng

Published on
28/05/2025 – 7:29 GMT+2

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European stock markets extended their rally for a second consecutive trading day on Tuesday as concerns over escalating US-EU trade tensions eased. Germany’s DAX rose 0.82% to 24,226.49, marking a fresh record high, while the Euro Stoxx 600 climbed 0.33% to 552.33, edging within 0.2% of its March peak.

US President Donald Trump expressed optimism toward the trade negotiations. “I have just been informed that the EU has called to quickly establish meeting dates,” he wrote in the Truth Social, “This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America. They will BOTH be very happy, and successful, if they do!!!”

The US president’s comments also lifted Wall Street, with the Dow Jones Industrial Average up 1.78%, the S&P 500 rising 2.05%, and the Nasdaq composite surging 2.47%.

On Sunday, Trump announced he had agreed to postpone the implementation of a 50% tariff on EU imports until 9 July, following a phone call with European Commission President Ursula von der Leyen. During the call, von der Leyen expressed the EU’s readiness “to advance talks swiftly and decisively” in a bid to avert further trade escalation.

Trump had initially announced 20% “reciprocal tariffs” on EU goods on 2 April before reducing the rate to 10% for 90 days. However, last Friday, he threatened to impose a 50% tariff from 1 June, citing frustration over the pace of negotiations and disagreement among EU member states.

While specific meeting dates remain absent publicly, EU Trade Commissioner Maroš Šefčovič is expected to meet his US counterpart in Paris next Tuesday during the Organisation for Economic Co-operation and Development (OECD) summit. Talks are expected to focus on removing bilateral tariffs on industrial goods and addressing US import levies on steel, aluminium, semiconductors, automobiles, and pharmaceutical products, according to sources familiar with the matter.

Earlier this month, the EU postponed a proposed package of retaliatory tariffs on up to €95 billion worth of US imports, including wine, spirits, aircraft, auto parts, electrical products, and more.

Defence and banking stocks lead gains

The DAX is up 22% year-to-date, making it the top performer among major global indices. The index had pulled back sharply in April following Trump’s announcement of the reciprocal tariffs but has consistently rebounded on signs of de-escalation in trade tensions.

In sectors, the defence and banking stocks led the broad gains, underpinned by optimism over Germany’s fiscal and defence spending reforms. In March, Germany’s Friedrich Merz announced plans to increase defence spending beyond 1% of GDP and a €500 billion special fund for infrastructure investment. The landmark fiscal package particularly lifted sentiment in European defence and industrial stocks, with Rheinmetall AG shares soaring 207% so far this year, repeatedly hitting new highs.

Meanwhile, European banking stocks have been supported by the European Central Bank’s accommodative monetary policy stance, which has bolstered investment banking income and lending activity. Shares of Deutsche Bank and Commerzbank soared 50% and 75% respectively this year.

The euro retreats

Despite the bullish momentum in equities, the euro weakened against the US dollar, as the greenback staged a strong rebound following Trump’s decision to delay tariffs — a move that mirrored previous dollar rallies during the US-China trade talks.

The EUR/USD pair fell to just above 1.13 during Wednesday’s Asian session, retreating from over 1.14 on Monday, as markets priced in renewed optimism over US-EU trade negotiations and an improved US economic outlook.