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Trade negotiations between the EU and Australia will continue on February 13.

February 13th - On February 12th local time, US President Trump announced the formal revocation of the Environmental Protection Agency's (EPA) 2009 "Greenhouse Gas Hazard Designation." Trump stated that the EPA had eliminated the foundation of US climate regulation, a move that would save $1.3 trillion in regulatory costs. He added that the EPA's action would help lower car prices. This order, known as the "Hazard Designation," was issued by then-President Obama in 2009. The designation stated that greenhouse gas emissions from sources such as automobiles, power plants, and factories contribute to climate change and may pose risks to public health. This designation was the cornerstone of US greenhouse gas emissions policy. Its repeal signifies the loss of the legal basis for US greenhouse gas regulation, marking a major setback for the Trump administration's climate policies.

German Chancellor Merz: Agrees with France's view that European markets need to be protected from unfair trade practices.

German Chancellor Merz: Germany does not want to pay the price for other European countries.

German Chancellor Merz: Does not support joint issuance of Eurobonds.

February 13th - Sources familiar with the matter revealed that European companies seeking to expand their scale and enhance their competitiveness against non-EU rivals through acquisitions may see increased regulatory approvals when the deals involve a pan-European scale. The European Commission is planning to clarify the approval criteria for transactions when revising the merger and acquisition rules established in 2004. The draft revisions will be released for public comment in the spring, after which regulators will implement the changes. The EU's proposal to encourage more pan-European mergers and acquisitions comes at a time when companies, particularly telecom operators, are calling for relaxed EU merger and acquisition rules to facilitate expansion. Regulators want to promote pan-European mergers and acquisitions, rather than just inter-country deals aimed at increasing the market share of a few companies. Sources said that regulators will focus on five key benefits of mergers and acquisitions when evaluating transactions: innovation, sustainability, resilience, investment, and jobs. They indicated that companies citing innovation as a justification will be more likely to receive approval, as other factors are more difficult to quantify.

German Chancellor Merz: With its strong economy and industry, Germany is able to cope with geopolitical realities.

US President Trump: The Environmental Protection Agency has dismantled the foundation of US climate regulation, a move that will eliminate $1.3 trillion in regulatory costs.

February 13th - Bank of America strategists stated that Federal Reserve Chairman nominee Warsh's call for a new agreement with the Treasury is not expected to have a substantial impact on bond prices, as the two institutions already cooperate closely. Warsh has previously proposed reviewing the 1951 agreement between the Treasury and the Federal Reserve, which significantly limited the Fed's influence in the bond market. However, after a decade of continuous asset purchase programs, the Fed's balance sheet has ballooned to $6.6 trillion. Bank of America strategists, including Mark Cabana and Katie Craig, stated that this idea still lacks clear definition and largely reflects current practices. They said that the most significant impact on the market would likely come from the Treasury reducing its issuance of long-term bonds or the Fed switching to an interest rate anchoring policy (a less likely scenario). "Other agreement steps are unlikely to have a significant impact. We believe the new 'agreement' will have a limited impact on the interest rate market."

Sources indicate that the EU is comprehensively revising its merger and acquisition rules to facilitate pan-European deals. EU antitrust regulators will consider innovation, sustainability, resilience, investment, and jobs when assessing mergers and acquisitions.

U.S. officials say delegations from at least 20 countries, including several heads of state, are expected to attend the meeting.

US officials: Trump will provide an update on the international peacekeeping force in Gaza at the Peace Council meeting.

European Commission President Ursula von der Leyen: We will study these elements in the upcoming review of the carbon emissions trading system.

European Commission President Ursula von der Leyen: Energy prices must come down.

European Commission President Ursula von der Leyen: Leaders support the swift implementation of trade agreements.

European Commission President Ursula von der Leyen: The review report on the EU Emissions Trading System (ETS) will be submitted as planned.

European Commission President Ursula von der Leyen: The "European priority sourcing" policy will be allowed in strategic industries.