The main events by the morning: May 26

• American businesses have found a way to circumvent Trump's tariffs. Importers have recalled a 1988 law that could help them offset the effects of the trade wars unleashed by Donald Trump. Businesses have begun to actively use the so-called first sale rule, according to which import duties are calculated based on the very first sale of goods in the transaction chain. For example, in the case of a product from China, it must first be sold by a Chinese manufacturer to an intermediary, and that intermediary must resell the product to an importer in the United States.

• A trade deal between the US and the EU can be concluded before July 9th. According to Ursula von der Leyen, she had a good conversation with the US president. She confirmed that Trump had agreed to postpone the imposition of 50% duties against the EU until July 9, and therefore the time to conclude an agreement had become much longer. Earlier, Trump promised to introduce duties from June 1.

• Trump has stated that he is considering the possibility of tightening sanctions against Russia. The US president is «absolutely» considering this option. He noted that he was unhappy with the fact that Russia attacked Ukrainian facilities during its dialogue with Ukraine. Trump had previously stated that he did not intend to impose sanctions against Russia as long as Russia was serious about resolving the conflict.

• The European Union is developing a new package of anti-Russian sanctions aimed at increasing economic pressure to end the Ukrainian conflict. Key measures include disconnecting more than 20 Russian banks from SWIFT, banning the use of the Nord Stream gas pipelines, and lowering the G7 oil price ceiling to $45 per barrel.

• Trump announced progress in the negotiations between the United States and Iran on the nuclear program. The US president noted that another stage of negotiations would take place in the near future, but did not specify an exact date. The main issue in the negotiations remains Tehran's retention of the right to its own uranium enrichment program as part of a potential agreement.