{"id":63794,"date":"2026-06-26T10:38:20","date_gmt":"2026-06-26T14:38:20","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-brief-eu-scrap-taxes-diplomatic-deadlocks-and-legal-settlements\/63794\/"},"modified":"2026-06-26T10:38:20","modified_gmt":"2026-06-26T14:38:20","slug":"global-market-brief-eu-scrap-taxes-diplomatic-deadlocks-and-legal-settlements","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-brief-eu-scrap-taxes-diplomatic-deadlocks-and-legal-settlements\/63794\/","title":{"rendered":"Global Market Brief: EU Scrap Taxes, Diplomatic Deadlocks, and Legal Settlements"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>EU to impose a 15% export tax on aluminium scrap<\/strong> starting September 9 to protect domestic supply and combat rising costs.<\/li>\n<li><strong>John Bolton pleads guilty<\/strong> to one count of retaining classified information, agreeing to a <strong>$2.25 million fine<\/strong> to resolve a federal case.<\/li>\n<li><strong>Israel-Lebanon negotiations extend<\/strong> into an extra day as both sides remain deadlocked over the terms of a &quot;full withdrawal&quot; from southern territory.<\/li>\n<li><strong>OpenAI has no immediate IPO timeline<\/strong>, with management reportedly avoiding &quot;testing-the-waters&quot; meetings despite a targeted <strong>$1 trillion valuation<\/strong>.<\/li>\n<\/ul>\n<hr>\n<h2>EU Targets Aluminium Scrap Exports with New 15% Levy<\/h2>\n<p>The European Union is moving to secure its industrial supply chain by proposing a <strong>15% tax on aluminium scrap exports<\/strong>, a move first reported by the <em>Financial Times<\/em>. The levy, expected to take effect on <strong>September 9, 2026<\/strong>, aims to prevent the &quot;leakage&quot; of critical secondary raw materials to the U.S. and Asia. European producers, including major players like Norsk Hydro (<a href=\"\/stock\/NHYDY\">NHYDY<\/a>), have warned that roughly <strong>15% of the bloc&#39;s recycling capacity<\/strong> is currently offline due to a shortage of domestic scrap.<\/p>\n<p>The measure comes as scrap prices have surged by nearly <strong>50% since October<\/strong>, reaching approximately <strong>\u20ac2,240 per tonne<\/strong>. Industry advocates argue that overseas smelters, particularly in India and China, have been outbidding local firms for European waste, only to sell the finished aluminium back into the EU at a premium. Trade Commissioner Maro\u0161 \u0160ef\u010dovi\u010d emphasized that the move is essential for the EU\u2019s circular economy goals and to defend against &quot;rigged&quot; global competition.<\/p>\n<h2>John Bolton Settles Classified Files Case<\/h2>\n<p>Former National Security Adviser <strong>John Bolton<\/strong> pleaded guilty in a Maryland federal court on Friday to one count of <strong>illegally retaining national defense information<\/strong>. The plea deal resolves an 18-count indictment that alleged Bolton shared &quot;diary-like&quot; entries containing sensitive government data with family members while drafting his memoir. Under the terms of the agreement, Bolton will pay a <strong>$2.25 million fine<\/strong> and faces a sentencing range of zero to five years in prison.<\/p>\n<p>The settlement marks a significant conclusion to a long-running Justice Department investigation that began before the current administration took office. While the original charges carried a potential sentence of up to 10 years per count, the single-count plea allows Bolton to avoid a high-stakes trial. The court hearing in Greenbelt, Maryland, confirmed that the plea does not allege any wrongdoing regarding the actual publication of his book, <em>The Room Where It Happened<\/em>.<\/p>\n<h2>Deadlock in Washington Over Israel-Lebanon Withdrawal<\/h2>\n<p>Diplomatic efforts to stabilize the border between Israel and Lebanon have hit a critical impasse at the U.S. State Department. <strong>Lebanon insists on a &quot;full withdrawal&quot;<\/strong> of Israeli forces with a defined timetable included in any final &quot;declaration of principles.&quot; Conversely, <strong>Israel has refused to commit<\/strong> to a total pullout, specifically seeking to maintain a presence at strategic locations like Beaufort Castle and within the &quot;Yellow Line&quot; buffer zone.<\/p>\n<p>The fifth round of negotiations has been extended by an additional day to bridge the gap between the two delegations. The talks are complicated by a parallel U.S.-Iran memorandum of understanding that has reportedly caused both sides to harden their positions to assert sovereign control. While a phased handover to the Lebanese Armed Forces remains the primary framework, the definition of &quot;pilot zones&quot; for the withdrawal remains the central point of contention.<\/p>\n<h2>OpenAI Sidesteps IPO Speculation Despite Trillion-Dollar Target<\/h2>\n<p>Despite intense market interest, <strong>OpenAI<\/strong> has not yet established a timeline for an Initial Public Offering (IPO). Sources familiar with the matter told <em>CNBC<\/em> that the company has not yet begun &quot;testing-the-waters&quot; meetings with institutional investors. While the AI giant\u2014backed heavily by Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>)\u2014is reportedly targeting a <strong>$1 trillion valuation<\/strong>, leadership appears to be leaning toward a 2027 listing rather than a 2026 debut.<\/p>\n<p>The cautious approach follows the volatile market performance of other high-profile tech debuts like SpaceX. CFO Sarah Friar is reportedly prioritizing long-term stability over a quick exit, even as competitors like Anthropic move closer to their own filings. For now, OpenAI remains focused on its staggered rollout of new models, such as <strong>GPT-5.6<\/strong>, under close coordination with federal security agencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways EU to impose a 15% export tax on aluminium scrap starting September 9 to protect domestic supply and 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