Trump talks tariffs, Taiwan. At his first cabinet meeting yesterday, Trump said he would “soon” announce 25 percent tariffs on goods from the European Union (EU), including “cars and all other things.” Asked if the United States would ever allow China to take Taiwan by force, Trump declined to comment. Washington has traditionally shied away from making an explicit security guarantee—instead preferring to maintain a policy of strategic ambiguity—though Joe Biden said multiple times while president that he would intervene to protect Taiwan.
Starmer in Washington. United Kingdom (UK) Prime Minister Keir Starmer is discussing economic and security relations with Trump at the White House today. Starmer has said he would be willing to send UK troops to Ukraine to act as potential postwar peacekeepers, but that U.S. backup support is also needed. While Trump has voiced his approval of the idea, Russian Foreign Minister Sergey Lavrov pushed back against it yesterday, saying the presence of European troops would “further fuel the conflict.”
BP’s renewables reversal. The oil and gas giant will slash its spending on renewables by some 70 percent. Its CEO said the transition to renewable energy over the past five years had been slower than expected following the war in Ukraine, COVID-19 pandemic, volatile energy markets, and other factors. Some investors had been pushing for a strategy shift in search of higher profits. Rivals Shell and Equinor have also recently scaled back their plans for green investments.
Iran accelerates uranium enrichment. Iran’s stockpile of uranium that is enriched up to 60 percent—considered near weapons-grade level—grew by more than half between October and February, the UN nuclear watchdog said in a report seen by the Associated Press. Trump has ordered new sanctions on Iran but also said he’d like to strike a nuclear deal. Iran’s foreign minister said Tuesday that the country does not negotiate “under pressure, threat or sanctions.”
U.S.-Russia talks in Turkey. Envoys from the two sides are meeting in Istanbul today to address disputes over the functioning of their embassies in Washington and Moscow. A U.S. State Department spokesperson said before the meeting that Ukraine is not on the agenda, describing the talks as a test of whether “Russia is really willing to engage in good faith.”
Chevron on notice in Venezuela. Trump said he plans to end a license allowing the U.S. energy company to operate in Venezuela, saying the country has poor electoral conditions and has moved too slowly on accepting migrants. The Biden administration issued the license in late 2022 amid high gas prices and in an effort to coax Caracas toward democratic reforms. Chevron accounts for approximately a fifth of Venezuela’s oil production.
India plans solar incentives. The government is putting together a $1 billion subsidy plan to boost domestic solar manufacturing and reduce dependence on China, unnamed sources told Bloomberg. The policies would aim to replicate the success of India’s cell phone manufacturing sector. A Ministry of New and Renewable Energy spokesperson said New Delhi is studying how to incentivize local manufacturing of ingots, wafers, and polysilicon but that no proposal had been formally approved.
Romanian candidate charged. Prosecutors announced criminal charges against far-right politician Cǎlin Georgescu, who won a first-round presidential election last November that was then annulled after allegations of Russian meddling. The charges include incitement against the constitutional order, spreading false information, and establishing a fascist organization. Georgescu’s lawyer did not immediately comment, and it was not clear how the legal proceedings will affect his plans to run in the election do-over in May.
