Global Rivalries

The European Union-Mercosur trade deal passed last week is now on hold after the European Parliament sent it to the EU’s top court, a move that could delay the agreement for more than a year and even put its approval at risk.   Mercosur, a South American trade bloc formed in 1991 to promote economic integration, has been negotiating with the EU since the early 2000s, with progress slowed mainly by European concerns over competition f...

Fresh from a successful intervention in Venezuela, US President Donald Trump is now turning his attention to Greenland. Washington is presenting the Arctic island as essential to US national security, arguing that control of the territory is needed to shield America from Russian and Chinese threats.   Trump's sharp language has alarmed Denmark and sent shockwaves across the European Union. US officials have refused to rule out the use of m...

Two massive China-flagged supertankers, the Xingye and Thousand Sunny, were headed to Venezuela to pick up oil cargoes meant to pay off Venezuela’s debt to China. But now, the ships have turned around, heading back to Asia after weeks of waiting in the Atlantic Ocean.   This surprising development highlights the ongoing struggle Venezuela faces under the US oil embargo, which has cut off direct exports to China, its biggest oil custo...

After 25 years of delays, the European Union has approved a free trade agreement with Mercosur, the bloc made up of Argentina, Brazil, Paraguay, and Uruguay. The decision links Europe more closely to South America at a time when Europe’s traditional economic partner, the United States, has become less predictable.   The vote by 21 EU member states ends more than two decades of stalled talks and produces the largest trade agreement th...

Iranian President Masoud Pezeshkian has warned that any attack on Iran would be met with a “harsh and discouraging” response. His remarks followed comments by US President Donald Trump, who threatened to strike Iran’s nuclear facilities if Tehran resumes its nuclear program.   The US warning has fueled speculation about possible military action. On January 6, a significant number of US military aircraft were tracked enter...