US Vice President Meets EU Commission Chief, Hopes to Move Forward Trade Talks

US Vice President JD Vance, Italy's Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen meet at the Chigi Palace in Rome, Italy, Sunday, May 18, 2025. (Reuters)
US Vice President JD Vance, Italy's Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen meet at the Chigi Palace in Rome, Italy, Sunday, May 18, 2025. (Reuters)
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US Vice President Meets EU Commission Chief, Hopes to Move Forward Trade Talks

US Vice President JD Vance, Italy's Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen meet at the Chigi Palace in Rome, Italy, Sunday, May 18, 2025. (Reuters)
US Vice President JD Vance, Italy's Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen meet at the Chigi Palace in Rome, Italy, Sunday, May 18, 2025. (Reuters)

US Vice President JD Vance met European Commission President Ursula von der Leyen and Italian Prime Minister Giorgia Meloni on Sunday, and said he hoped their encounter would help move forward trade talks between the EU and the United States.

"Europe is an important ally of the United States... but, of course, we have some disagreements, as friends sometimes do, on issues like trade," Vance said, sitting alongside von der Leyen and Meloni in Rome after they had all attended Pope Leo's inaugural Mass.

"I think we'll have a great conversation, and hopefully it will be the beginning of some long-term trade negotiations and some long-term trade advantages between both Europe and the United States," he added.

The White House has imposed a 25% tariff on imports of steel, aluminium and cars, as well as a baseline 10% tariff on almost all countries, with additional "reciprocal" tariffs -- making for a combined 20% in the EU's case -- lined up if negotiations during a 90-day pause fail.

Von der Leyen said the trade relationship between the European Union and the United States was the largest in the world and worth more than $1.5 trillion a year.

She added that the two sides had exchanged negotiating documents outlining the various areas of future discussion.

"It is important now we've exchanged papers that our experts are deep diving, are discussing the details," she said.

"Everybody knows that the devil is in the detail, but what unites us is that at the end, we want together to have a good deal for both sides," she added.

Von der Leyen has not managed to hold a formal meeting with US President Donald Trump since he regained the US presidency in January, exchanging words only briefly at Pope Francis's funeral last month at the Vatican.

Besides discussing tariffs, she said she also wanted to talk to Vance about Ukraine and defense spending.



Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
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Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo

Israel's NewMed said on Wednesday the Leviathan natural gas field that supplies gas to Egypt and Jordan, shut down nearly two weeks ago due to the Iran-Israel conflict, would resume operations in the next few hours.

Two of Israel's three gas fields - Chevron-operated Leviathan and Energean's Karish - off its Mediterranean coast that provide the bulk of exports to Egypt and Jordan have been shut since June 13.

That left in operation only the older Tamar field, used mainly for domestic supplies.

Israel and Iran agreed to a ceasefire on Tuesday. Israel's Energy Ministry said that after a security assessment, Energy Minister Eli Cohen had ordered the opening of Leviathan and Karish, Reuters reported.

The ministry said resuming regular operations at the rigs will "enable the supply of natural gas to all customers", the resumption of gas exports to neighboring countries, a rise in state tax revenues, and greater flexibility in managing the electricity and industrial sectors.

Leviathan, a deep-sea field with huge deposits, came online at the end of 2019 and produces 12 billion cubic meters of gas per year for sale to Israel, Egypt and Jordan. That will rise to some 14 bcm in 2026.

In addition to Chevron and NewMed, Ratio Energies is also a partner in Leviathan.