On October 6, 1973, thousands of Israeli soldiers were forced to eat. That day, the country was celebrating Yom Kippur, one of Judaism's holiest holidays, characterized by fasting and prayer, when it was attacked militarily by Egypt and Syria. Many members of the army had to postpone their celebrations. This war, which lasted about three weeks, was another episode in the Arab-Israeli conflict. But at the same time, it marked a turning point for the global economy, as the Organization of the Petroleum Exporting Countries (OPEC, comprised mainly of Arab states) implemented a crude oil embargo on Western countries (the United States and some allies, primarily European), which caused prices to skyrocket and triggered the first of the oil crises of the 1970s and early 1980s.

According to a study, 96% of the cost of tariffs on foreign exports to the United States is paid by American businesses and consumers. think tank German Kiel Institute. This means that 192 billion of the additional 200 billion dollars (163.6 billion and 170.4 billion euros, respectively) that were to be collected in 2025 in trade tariffs at US customs have ended up being a transfer of money from American citizens to their federal government.

US Commerce Secretary Howard Lutnick was booed Tuesday at a dinner at the World Economic Forum (WEF) in Davos, Switzerland, the British newspaper reported Wednesday. Financial TimesDuring the event, Lutnick reportedly gave a speech in which he attacked Europe and defended the use of coal and other hydrocarbons as the main sources of energy over renewables, which provoked outrage among some of the attendees, and some, such as the president of the European Central Bank (ECB), Christine Lagarde, left the event.

Tariffs on European products imposed by US President Donald Trump have affected 2.9% of Catalan exports abroad, according to data published Tuesday by Acció, the Catalan government's foreign trade promotion agency. Exemptions to the trade tariffs agreed upon between US and European Union authorities have allowed a third of Catalan products sold in the US market to remain duty-free. According to calculations, of the €4.35 billion exported from Catalonia to the US, approximately €1.43 billion—or 33% of the total—remain tariff-free. Conversely, the remaining €2.92 billion "were subject to the tariffs" imposed by Trump, according to a statement from Acció. Compared to total Catalan exports outside of Spain, this latter figure represents 2.9% of the total exports by Catalan companies abroad. The effect of the tariffs, however, has been limited. In fact, Catalan exports to the US between January and October of last year fell by 1.9% compared to the same period in 2014. "The products most affected, for the moment, have been perfumes and cosmetics, jewelry, iron and steel manufactures, clothing, motorcycles, and meat," Acció adds in its statement.

"From an economic standpoint, it's certainly not a good agreement, but it's more or less tolerable. The political cost is another matter." With these words, he described the trade agreement between Brussels and Washington Ignacio García Bercero, analyst at the think tank Bruegel and for 35 years EU trade negotiator. At an event this Thursday at the Círculo de Economía (Circle of Economy) on the impact of tariffs, García Bercero lamented the European Commission's strategy in the face of the aggressive trade offensive by the US government under Donald Trump: "It has given a certain image of weakness to the EU," he opined, since the EU has ended up signing an agreement that is "just an agreement."

China announced Wednesday that it is suspending for one year the 24% "additional tariff" it had imposed on goods imported from the United States, a decision that falls within the framework of the trade agreements reached last week by the presidents of both countries, Xi Jinping and Donald Trump. In this regard, the Chinese government's tariff commission stated in a press release that the suspension of the tariff aims to "implement the results and consensus reached in the economic and trade consultations between China and the United States." The measure will take effect on November 10, and until then, an additional 10% tariff will remain in place on certain US products entering Chinese territory, although Beijing did not specify which ones.

US President Donald Trump has decided to reignite the trade war with China. This Friday, he announced that he will impose 100% tariffs on the Asian giant starting November 1st. This is his response to Beijing's recent actions, which include more controls on the export of rare earths. According to the Republican leader, these are "very hostile" initiatives, and for this reason, he has even questioned the opportunity to meet with Chinese President Xi Jinping at the end of the month, as planned.

After sowing panic in the markets for weeks with its unpredictable twists and turns, at least in the early hours, the world's major stock markets do not seem to be suffering too much from the effect of Donald Trump's new tariffs on the European Union. The continent's most important indexes, with the exception of London (the United Kingdom is outside the EU), closed Thursday's session with moderate gains, despite the entry into force of the new taxes imposed by the President of the United States.

While waiting for Brussels to publish more details, for now it is known that the trade agreement The agreement reached between European Commission President Ursula von der Leyen and US President Donald Trump will finally set tariffs on European products sold in the US at 15%. The fact that it's a US federal tax on products manufactured in the European Union may raise questions about who should pay it, when, and who is most directly affected.

"Those who do not go together are hung separately" ("Those who don't hang together get hung separately"). This is how a European diplomat expressed himself in the Financial Times about thetrade agreement between the European Union and the United StatesThe phrase recalls the need for the Twenty-Seven to unite before Washington to close a satisfactory pact, with the added irony that it is a quote from a founding father of the United States, Benjamin Franklin, who uttered it during the conflict between the thirteen American colonies and the British Crown that led to the United States' declaration of independence in 1776. During her appearance on Sunday in Scotland with US President Donald Trump, the president endorsed the agreement, which leaves tariffs on European exports to the US at 15% and imposes a long, multi-million dollar list of unspecified expenses and investments that the EU will have to carry out in the US. The following day, however, arose amid an avalanche of criticism of the agreement from member states, employers' associations, and analysts. The continent's press, like some governments, spoke of European "submission" to Washington.

Brussels increases pressure on Donald Trump. The US president maintains part of the tariffs frozen that he announced against the European Union and has left up in the air what he will ultimately do. Faced with this uncertainty, the European bloc does not want to sit idly by, and the European Commission presented this Thursday a new list of US products on which it threatens to increase customs duties if Trump does not reconsider his trade strategy and take a right to the front in the tariff war.

The Barcelona Chamber of Commerce estimates that the trade war launched by US President Donald Trump will have an impact of around €1.055 billion on the Catalan economy this year, equivalent to around three-tenths of the Catalan gross domestic product (GDP, the indicator that measures the size of an economy).

For Carinsa, the Catalan company dedicated to creating, producing, distributing, and marketing flavorings for human food and beverages, animal feed, and fragrances for detergents and cosmetics, the problem isn't the tariffs imposed by the US, which is currently set at 10% instead of 20%. Furthermore, for this company, sales in the world's leading power don't even reach 5% of its total. But they are concerned about the effects this trade war may have in the medium rather than the short term.

The Generalitat of Catalonia has announced the mobilization of 1.5 billion euros to aid the economic sectors most affected by the new US tariffs on European imports, the majority in the form of loans and guarantees, although some also in the form of direct subsidies. The president of the Generalitat presented the plan to employers, unions, and chambers of commerce on Monday.

Ursula von der Leyen holds her hand outstretched in Donald Trump until the last momentBut she warns that she will not be bothered by paying in kind and applying a tit-for-an-tat strategy. "Europe has many cards to play and all the instruments are on the table," the President of the European Commission warned on Tuesday in a speech to the European Parliament.

The US president has once again shaken up the markets with a new surprise announcement. After clearing up the misunderstanding about tariffs on Mexico and Canada that he caused yesterday during the presidential cabinet meeting, the tycoon has also announced a 10% increase in tariffs for China that will come into effect on March 4. This is an increase that is added to the 10% that already came into effect last month and is also added to the existing tariffs that were applied during the previous administration.

Call for annexation, a invasion of greenland, 25% tariffs on all Mexican and Canadian products (suspended for a month), tariffs on aluminum and the threat to tax European imports as well. Donald Trump's geopolitical stretches regarding North American and European partners have not materialized so far, but they have set off alarm bells on both sides of the Atlantic. And in the case of Canada and the European Union, they have opened the debate on greater economic integration.

After six days aground, the Ever Given, the huge 400-metre cargo ship weighing 220,000 tons stranded in the Suez Canal has been refloated early this morning, according to several reports, so that the circulation in this crucial route for maritime trade could be recovered soon. According to Reuters, the vessel has been freed, the engines have been started and final checks are being made before it can be manoeuvred. It is unclear when the ship will be able to move and resume traffic in the canal. Each day of blockage costs over €8bn.