On Thursday the deadline passed for an agreement between Trump and Canada, Japan, Mexico and the EU on trade. Failure to reach an agreement meant that the steel and aluminium tariffs threatened by Trump came into force. With this, Trump has begun the process of unravelling globalisation. On Saturday, the G-7 finance ministers met and the 6 non-US ministers came together against the US, expressing their “unanimous concern and disappointment” over the US decision.

The leader of the Spanish Socialist Party (PSOE), Pedro Sanchez, has become prime minister after defeating corruption-tainted Mariano Rajoy in a parliamentary vote of no confidence. Sanchez has promised a few cosmetic changes but will keep the budget approved by Rajoy’s Popular Party (PP) and has vowed to “guarantee economic and fiscal responsibility” as well as to fulfill “European duties”.