The US president’s rapid re-engagement with Russia, a country that most European countries see as an existential threat, has sparked frantic discussions on how to collectively bolster Europe’s defensive capabilities and reduce reliance on American troops and weapons.

Europe must cut taxes on electricity if it wants to help struggling industries become more competitive, the heads of two of the continent’s largest power companies have said.

The EU is considering redirecting €93bn in untapped pandemic recovery funds into its defence sector as part of efforts to increase investment and military spending after the Trump administration warned it could withdraw US security support from the continent.

Last October the EU imposed tariffs of up to 45 per cent on Chinese electric vehicles, but the move caused deep divisions in the bloc. Sánchez in September said the plan should be “reconsidered” and Spain eventually abstained in the key vote. Germany and Hungary voted against the tariffs.

EU capitals have agreed a fresh sanctions package against Russia, as Brussels vows to step up pressure on Moscow and increase its support for Kyiv, widening a transatlantic divide with US President Donald Trump as he pushes for a rapid end to the war in Ukraine.

Under the deal, EU member states must slash food waste by 10 per cent in food manufacturing and processing, and by 30 per cent per capita in retail, restaurants, food services and households by the end of 2030, measured from a 2021-23 average baseline.

FREE TO READ] Activation of ‘escape clause’ will help countries ‘substantially increase’ military spending, says Ursula von der Leyen

Marc Filippino Good morning from the Financial Times. Today is Friday, February 21st, and this is your FT News Briefing. EU debt markets could be in for a shake-up and Walmart is dusting the dirt off its shoulder. Plus, Donald Trump doesn’t want to be responsible for defending Europe, and that’s forced the EU to move quickly.

Commission expected to approve greater use of Renure, a product based on dung, to reduce revenues going to Moscow

As the winds of isolationism whip across the world, the EU will remain a strong, reliable and committed humanitarian partner. But we alone cannot fill the gap left by others — the needs are simply too great. Every nation that values stability and prosperity must play its part.

The Paris talks come as the US and Russia’s top diplomats prepare for face-to-face talks in Saudi Arabia, and will focus on how to respond to the fast-moving negotiations, and Trump’s demand for Europe to reduce its reliance on US military support.

Henna Virkkunen, the European Commission’s executive vice-president in charge of digital policy, told the Financial Times the EU wanted to “help and support” companies when applying AI rules, as the bloc sought to boost competitiveness and not miss the boat on this technology.