European Commission President Ursula von der Leyen has unveiled a proposal for a long-term EU budget that she says will total $2.3 trillion.

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The EU executive proposed on Wednesday a long-term budget boosted to two trillion euros ($2.3 trillion) as Europe confronts complex challenges, from overseas competition to Russian aggression at its borders.

The European Union is racing to clinch an agreement with the Americans before tariffs kick in on Aug. 1, even as President Trump has signaled he is in no rush.

Foreign ministers from the EU's 27-member nations are meeting in Brussels in the wake of a new aid deal for Gaza, largely forged by the bloc's foreign policy chief Kaja Kallas and Israeli Foreign Minister Gideon Saar.

Europe’s top diplomats are assessing a new deal with Israel to deliver humanitarian aid to Gaza, according to Kaja Kallas, the European Union’s foreign policy chief. Foreign ministers from the EU’s 27-member nations were set to meet on Tuesday in Brussels in the wake of a new aid deal for Gaza largely forged by Kallas and Israeli foreign minister Gideon Saar,

Ministers will also discuss Iran's nuclear program, tensions in Georgia and Moldova and new sanctions on Russia as the EU prepares its 18th sanctions package.

European Union officials have drawn up plans to impose levies on American imports, but questions abound about whether they would go through with them.