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EU Strengthens Ties with Vietnam Amid Global Trade Shifts
HANOI – Vietnam and the European Union (EU) upgraded their relationship to a comprehensive strategic partnership on Thursday, signaling a move to recalibrate trade amid disruptions to global finance driven by U.S. tariff pressure, according to Fortune. The upgrade places the EU on the same diplomatic footing as the United States, China, and Russia, marking Vietnam's highest diplomatic level.
The announcement was made during a visit to Hanoi by European Council President António Costa. "At a moment when the international rules-based order is under threat from multiple sides, we need to stand side by side as reliable and predictable partners," Costa said, adding that the partnership is about developing spheres of shared prosperity, according to Fortune.
Costa's visit to Vietnam followed a free trade agreement reached between India and the European Union on Tuesday, Fortune reported.
In other news, the Senate is expected to vote today on a $1.6 trillion funding bill, according to NPR News. The vote comes amid a battle over Department of Homeland Security (DHS) funding that risks a government shutdown. The Federal Reserve also held interest rates steady despite pressure from President Trump, NPR News reported.
Meanwhile, in sports news, Senegal and Morocco faced fines and player bans following a chaotic African Cup final, NPR Politics reported. Africa's soccer body issued fines worth more than $1 million and banned Senegal's coach and players from both Senegal and Morocco after the match, which involved a walk-off protest, fan disturbances, and fights among journalists, according to the Associated Press.
In U.S. politics, U.S. Sen. Amy Klobuchar announced Thursday that she is running for governor of Minnesota, Fortune reported. Klobuchar promised to take on President Donald Trump while unifying a state that has endured a series of challenges. Klobuchar's decision comes as current Gov. Tim Walz abandoned his campaign for a third term earlier this month amid criticism over mismanagement of taxpayer funding for child care programs, according to Fortune. "Minnesota, we’ve been through a lot," Klobuchar said in a video announcement. "These times call for leaders who can stand up and not be rubber stamps of this administration," Fortune reported.
Also, the Trump administration will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially dedicated to basic government services such as policing and health care and subject to Washingtons oversight, Secretary of State Marco Rubio said Wednesday, according to Fortune. The funds from that (oil sales) will be deposited into an account that we will have oversight over, Rubio said, adding that the U.S. Treasury would control the process. Venezuela, he said, will spend that money on basic government services.
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