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Jorge Valero

@europressos.bsky.social

350 followers 210 following 140 posts

Brussels-based reporter at Bloomberg News. @unav @UNED & @GCLalumni. . Views my own

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Jorge Valero @europressos.bsky.social · 7d

❗️NEW: We’re told EU’s new proposal to restrict steel imports and protect local industry will
- cut existing quotas for foreign steel by half
- increase tariffs above that level mirroring what US does (around 50%)
- won’t be temporary mechanism

www.bloomberg.com/news/article...

EU to Ramp-Up Tariffs on Steel Imports, Mirroring US Duties

The European Union will restrict steel imports into the European market as local producers struggle with the impact of overcapacity coming from Asia and trade barriers from the US and other trading pa...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 8d

From defense to competitiveness, & including EU budget or US trade deal, Merz & von der Leyen clashed since he took over. In private, his message is seen as “I’m the boss”, although some were surprised by their closeness when they first met at EC
With Arne Delfs
www.bloomberg.com/news/article...

Merz Targets Von Der Leyen With German Power Flex

Friedrich Merz wants to see Germany driving the most important decisions in Europe again.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 12d

@marossefcovic.bsky.social says today he will send letter to Trump Admin to solve steel dispute, as he advanced in our interview that he would discuss concrete proposals with them to jumpstart the talks on biggest outstanding issue in the implementation of the EU-US trade deal

Jorge Valero @europressos.bsky.social · 15d

❗️NEW: EU-US steel talks stalled as Brussels still waiting for Trump Admin response to bloc’s TRQs proposal, @marossefcovic.bsky.social told us in interview
“We know that it’s very important for our industry and therefore we are permanently putting it on the table.”
www.bloomberg.com/news/article...

EU Makes Fresh Push With US to Revive Talks on Metals Tariffs

The European Union’s trade chief, Maros Sefcovic, will meet with US Trade Representative Jamieson Greer this week to try and restart stalled talks to lower tariffs on steel and aluminum exports.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 13d

🧐 Merz writes in FT that he will present to EU leaders an assets proposal that is basically what EU is preparing (below details we told you this weekend).
Novelty is that he wants to dedicate all funds for UA army, just when Kyiv’s budgetary hole is bigger than expected ($65bn we scooped).

Jorge Valero @europressos.bsky.social · 18d

❗️NEW: Even Lagarde’s struggling to understand how new mechanism to support Kyiv will work, but we start to know few more things: cash balance available would be around €130bn & option being consider is bilat guarantees to overcome vetoes, we’re told. Work continues

www.bloomberg.com/news/article...

EU Advances on Russia Assets Plan as Ukraine Funding Needs Rise

The European Union is making progress on a plan to provide loans to Ukraine using Russia’s immobilized central-bank assets — part of efforts to meet Kyiv’s rising financial needs as the 3 1/2-year war...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 14d

Sefcovic will meet with Greer on sidelines of ASEAN ministerial this week where he also brings a concrete proposal to address the issue of the derivatives list, he told us.

Jorge Valero @europressos.bsky.social · 15d

❗️NEW: EU-US steel talks stalled as Brussels still waiting for Trump Admin response to bloc’s TRQs proposal, @marossefcovic.bsky.social told us in interview
“We know that it’s very important for our industry and therefore we are permanently putting it on the table.”
www.bloomberg.com/news/article...

EU Makes Fresh Push With US to Revive Talks on Metals Tariffs

The European Union’s trade chief, Maros Sefcovic, will meet with US Trade Representative Jamieson Greer this week to try and restart stalled talks to lower tariffs on steel and aluminum exports.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 15d

❗️NEW: EU-US steel talks stalled as Brussels still waiting for Trump Admin response to bloc’s TRQs proposal, @marossefcovic.bsky.social told us in interview
“We know that it’s very important for our industry and therefore we are permanently putting it on the table.”
www.bloomberg.com/news/article...

EU Makes Fresh Push With US to Revive Talks on Metals Tariffs

The European Union’s trade chief, Maros Sefcovic, will meet with US Trade Representative Jamieson Greer this week to try and restart stalled talks to lower tariffs on steel and aluminum exports.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 16d

❗️NEW: EU, Indonesia trade deal to bring 0 tariffs to near all goods including 🚗, machinery, appliances, agrifood
- deforestation rules won’t change & nickel export ban unchanged
- Deal is “new chapter of huge, huge proportions,” @marossefcovic.bsky.social told us

www.bloomberg.com/news/article...

EU, Indonesia Seal Zero-Tariff Trade Deal for Nearly All Goods

The European Union and Indonesia have secured a trade deal that will eliminate tariffs or bring them close to zero on nearly all goods, boosting relations between the partners amid US President Donald...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 16d

❗️Scoop: IMF to set Ukraine’s financing needs for donors in around $65bn for over the next two years, we’re told. And the bulk of it will likely have to come from Europe via new assets mechanism. IMF eyeing programme around $8bn, we’re told

With Volodymyr Verbianyi

www.bloomberg.com/news/article...

Ukraine Accepts IMF Forecast of Bigger $65 Billion Financing Gap

The International Monetary Fund has persuaded Ukraine’s government to significantly increase its projections of additional funding the country will need through the end of 2027 in the face of protract...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 18d

❗️NEW: Even Lagarde’s struggling to understand how new mechanism to support Kyiv will work, but we start to know few more things: cash balance available would be around €130bn & option being consider is bilat guarantees to overcome vetoes, we’re told. Work continues

www.bloomberg.com/news/article...

EU Advances on Russia Assets Plan as Ukraine Funding Needs Rise

The European Union is making progress on a plan to provide loans to Ukraine using Russia’s immobilized central-bank assets — part of efforts to meet Kyiv’s rising financial needs as the 3 1/2-year war...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 22d

While Von der Leyen blames MS & EU parliament for slow progress on Draghi roadmap, wishing “I could see the same sense of urgency across our competitiveness agenda”, he says “we must move beyond broad strategies,” as her EC has been doing mostly on his report.
www.bloomberg.com/news/article...

Draghi Laments Pace of Economic Change as EU Lags Global Rivals

The European Union is moving too slowly in its efforts to boost economic competitiveness, with the region “failing to match the speed” of a changing global order, former European Central Bank Presiden...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 26d

❗️EU lawmakers are demanding changes to the trade deal reached with the US, including a sunset clause & changes to products covered, EC told member states, we’re told.
Sefcovic pleaded MEPs to be “reasonable” as the overall agreement is at stake
www.bloomberg.com/news/article...

EU Lawmakers Seek Tweaks to US Trade Deal, Risking Trump Detente

The European Parliament is pressing for changes to a controversial EU-US trade deal reached this summer, raising the risk of fresh tensions just as Brussels seeks to stabilize relations strained under...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 29d

As she did with Covid vaccines, VDL wants to lead in coordinating defense ramp up, we’re told, despite its primarily national competency. While move will be welcomed in some smaller MS to move faster in sync, it’s likely to create tension with German & other big ones

More in our story

Jorge Valero @europressos.bsky.social · 29d

❗️NEW: VDL expected to propose a European Defense Semester to coordinate (and monitor) governments’ military spending toward 2030 readiness as this theme will dominate her state of the EU speech tomorrow.
“The common element now is fear,” Monti told us.
www.bloomberg.com/news/article...

Europe’s Crisis of Confidence Heaps Pressure Onto Von Der Leyen

European Union officials are trying to work out how to turn their anxiety about an increasingly hostile world into action.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · 29d

❗️NEW: VDL expected to propose a European Defense Semester to coordinate (and monitor) governments’ military spending toward 2030 readiness as this theme will dominate her state of the EU speech tomorrow.
“The common element now is fear,” Monti told us.
www.bloomberg.com/news/article...

Europe’s Crisis of Confidence Heaps Pressure Onto Von Der Leyen

European Union officials are trying to work out how to turn their anxiety about an increasingly hostile world into action.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Sep 3

Asked about the postponement of the EU Commission decision on Google Adtech case, @marossefcovic.bsky.social said that he fully supports @teresaribera.ec.europa.eu’s investigation, this is a “complex case” & his priority has always been European interest
Monti criticized the “bad” decision this am

Jorge Valero @europressos.bsky.social · Sep 3

And French spox confirms what we were told:

The additional safeguards could be sufficient for Paris to reconsider its staunch opposition to the deal and it would consider that the commission has taken into account its concerns by proposing a robust mechanism

Jorge Valero @europressos.bsky.social · Sep 3

❗️EU’s safeguard measure for agrifood products would monitor volumes, prices and market shares in each member state, we’re told- certain criteria that would trigger measures to control imports from Mercosur if volumes increase by 10% or prices fall by 10%.

www.bloomberg.com/news/article...

EU Pushes Ahead to Ratify Trade Deal With South American Nations

The European Union will publish the final text of its free-trade agreement with the South American economies of the Mercosur bloc Wednesday as it races to seal trade deals with like-minded partners in...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Sep 3

❗️EU’s safeguard measure for agrifood products would monitor volumes, prices and market shares in each member state, we’re told- certain criteria that would trigger measures to control imports from Mercosur if volumes increase by 10% or prices fall by 10%.

www.bloomberg.com/news/article...

EU Pushes Ahead to Ratify Trade Deal With South American Nations

The European Union will publish the final text of its free-trade agreement with the South American economies of the Mercosur bloc Wednesday as it races to seal trade deals with like-minded partners in...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Sep 2

Why I didn’t know this? Most powerful pirate ever commanded arguably most powerful navy of that time (probl only 2nd to UK), was a Chinese woman so powerful she retired with her wealth pardoned (unlike others) & died peacefully after running a gambling house in Macao in 1844- I wanna see this series

Jorge Valero @europressos.bsky.social · Sep 1

🚨Newsletter Alert: Don’t miss our new Brussels Edition that will bring you every afternoon our bureau chief Suzanne Lynch.
A fresh look to show you the best of our coverage

www.bloomberg.com/news/newslet...

VDL Plane Incident Shows Heightened Risk of Alleged Russia GPS Jamming

Aircraft forced to land without GPS navigational aid following a suspected Russian attack

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Sep 1

🚨Newsletter Alert: Don’t miss our new Brussels Edition that will bring you every afternoon our bureau chief Suzanne Lynch.
A fresh look to show you the best of our coverage

www.bloomberg.com/news/newslet...

VDL Plane Incident Shows Heightened Risk of Alleged Russia GPS Jamming

Aircraft forced to land without GPS navigational aid following a suspected Russian attack

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Aug 25

👇This will be the topic of the rentrée👇

Jorge Valero @europressos.bsky.social · Jul 29

The deal will force EU to reconsider its place in the global order, we’re told. Although EU may consider itself a trade superpower, the outcome shows that’s no longer enough to defend its interests when geopolitical rivals are prepared to use other forms of leverage
www.bloomberg.com/news/article...

Harsh Reality of US Trade Deal Stirs EU Soul-Searching Over Lost Clout

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Aug 12

🇪🇺🇺🇸The unlimited patience is the non-escalation dominance revisited.

Jorge Valero @europressos.bsky.social · Jul 31

❗️Scoop: Trump is zeroing in on Doral, his Miami-area golf course, as the host site for the G-20 next year and is aiming to trim down the extra attendees, per sources to @joshwingrovebbg.bsky.social & me. He abandoned a plan in his first term to host the G-7 there.

www.bloomberg.com/news/article...

Trump Eyes His Doral Club for G-20 Summit

US President Donald Trump plans to host next year’s Group of 20 summit at his Doral resort in Florida, and to cut the number of extra participants to narrow the gathering’s size, people familiar with ...

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Jul 30

❗️NEW: EU seeking 0-for-0 tariff for spirits and most-favored-nation rate for wine of about 6% to 7%, we’re told.
US signaling deal not imminent — while not fully closing the door. US will apply 15% rate to EU wines/ spirits for now, but issue will be part of talks

www.bloomberg.com/news/article...

EU Said to Push for a Spirits-Wine Tariff Deal Touted by Arnault

The European Union is pushing to get more exemptions from the 15% tariff agreed with the US this week, with wines and spirits a top priority.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Jul 30

Heard of escalation dominance?
EU’s Achilles’ heel during the talks with US has been Ukraine all along, and seems will continue for a while…

Jorge Valero @europressos.bsky.social · Jul 29

The deal will force EU to reconsider its place in the global order, we’re told. Although EU may consider itself a trade superpower, the outcome shows that’s no longer enough to defend its interests when geopolitical rivals are prepared to use other forms of leverage
www.bloomberg.com/news/article...

Harsh Reality of US Trade Deal Stirs EU Soul-Searching Over Lost Clout

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.

www.bloomberg.com

Jorge Valero @europressos.bsky.social · Jul 29

The deal will force EU to reconsider its place in the global order, we’re told. Although EU may consider itself a trade superpower, the outcome shows that’s no longer enough to defend its interests when geopolitical rivals are prepared to use other forms of leverage
www.bloomberg.com/news/article...

Harsh Reality of US Trade Deal Stirs EU Soul-Searching Over Lost Clout

As European Union leaders work through the consequences of their new trading arrangement with the US, they are confronting the bitter reality of just how far they have fallen.

www.bloomberg.com