Memo: 100% Tariffs

Hi ZipLawyer! Here's what you need to know today:

💥 NATO shoots down Russian drones
💰 Trump pushes EU on tariffs
🇫🇷 Macron names new PM
🛢️ Kirkland, Sidley on $550m energy deal
🌿 Norton Rose advises on food merger
🙋 Term: Fed Independence

Must-Know Today

💰 Trump asked the EU to impose tariffs of up to 100% on India and China, two of the biggest importers of Russian oil. He made the request during meetings with senior EU and US officials in Washington, arguing this would squeeze the Kremlin’s war chest. Trump said America would then raise its own tariffs on the two countries. If true, it’s a bold gamble: using trade wars to force political change in Moscow.

🇵🇱 Polish forces shot down Russian drones that strayed into Poland’s airspace during an attack on western Ukraine. It’s the first time a NATO member has directly engaged with Russia since the war began. Poland’s army said Dutch and NATO aircraft also took part in the operation. Prime Minister Donald Tusk called an emergency meeting after the incident.

📱 The new iPhone has landed. Apple unveiled its thinnest-ever handset, the iPhone 17 Air, just 5.6mm thick — nearly a third slimmer than today’s models. The new Pro versions pack upgraded cameras and longer battery life, with Apple banking on the redesign to nudge hesitant users into upgrading.

🇺🇸 Trump said he was “very unhappy” about an Israeli air strike in Qatar targeting Hamas leaders. The White House distanced itself too, saying the attack “does not advance Israel or America’s goals.” Hamas claimed its top officials survived, but six people, including a Qatari security officer, were killed.

🇫🇷 French president Emmanuel Macron appointed Sébastien Lecornu as the new prime minister, the country’s fifth in just two years. His predecessor, François Bayrou, resigned after losing a confidence vote in parliament. Lecornu, who has been defence minister since 2022, now faces an unfriendly National Assembly where many lawmakers want new elections. For Macron, it’s another reminder of his weak grip on domestic politics, with constant reshuffles making it harder to push through tough economic reforms.

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