| Reluctant Deal | Ukraine reached a deal with the US over access to its mineral resources as Kyiv seeks assurances that Trump won’t pull back support. The deal will grant the US privileged access to new investment projects to develop Ukraine’s natural resources including aluminum, graphite, oil and natural gas, although Kyiv didn’t get any specific security guarantees. Here’s how the deal breaks down. Low Risk | The EU is avoiding a new fight with the US over deforestation rules with plans to classify it as a low-risk country, along with all 27 members of the bloc. That means US commodity producers, after months of lobbying, will avoid strict checks under the new law. Brazil, meanwhile, will be under the “standard risk” category. Car Tariffs | Some of Europe’s largest automakers, including Stellantis and Mercedes-Benz, have pulled their financial guidance for the year due to uncertainty from Trump’s tariff policies. Carmakers have struggled to tally the impact of the levies as the US administration continues to change its position. Mercedes also said it plans to move production of another vehicle to the US, but didn’t specify with model. Junk Rebound | A spate of successful high yield bond sales in Europe over the past week has emboldened issuers to offer increasingly risky debt, highlighting how investor appetite has recovered after Trump softened some of his tariff plans. | 
