October 30, 2025: Dutch election stunner for D66, Jetten Likely PM; G7 Minerals Talk amidst US-China Rare Earth Deal; Mercosur trade deal before Christmas; frozen Russian assets debate, Reeves Apology
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Today's October 30, 2025. And there's a significant political shockwave emanating from Europe, where the Dutch election delivered one of the most nail-biting nights in years, defying expectations of a far-right sweep.
Rob Jetten’s centrist D66 party is now locked in a dead heat with Geert Wilders' anti-migration Party for Freedom (PVV), with preliminary forecasts showing both parties holding 26 seats.
Crucially, D66’s charismatic leader, Rob Jetten, is expected to receive the first opportunity to form a government, positioning him as the likely next prime minister.
This result is seen by many in Brussels as a major victory for the political center and pro-European forces, especially as Jetten has articulated a vision for Europe to transform into a serious "democratic world power".
Conversely, Wilders' PVV, which won the popular vote and 37 seats in 2023, saw a significant drop to a projected 26 seats. This dramatic shift in the Netherlands plays out against a backdrop of escalating international tensions and acute policy crises elsewhere.
On the global stage, attention was fixed on the high-stakes summit in Busan, South Korea, between U.S. President Donald Trump and Chinese President Xi Jinping—a meeting Trump optimistically rated as a "12 out of 10". The talks yielded immediate de-escalation: Trump vowed to lower U.S. tariffs on Chinese exports from 57 percent to 47 percent, with China agreeing to curb fentanyl flow and postpone export restrictions on rare earths.
Yet, this diplomatic calm was undercut by a final, aggressive act of saber-rattling hours before the meeting, as Trump ordered the restarting of U.S. nuclear missile testing.
Adding to the chaotic news cycle, U.K. Chancellor Rachel Reeves offered a late-night apology for unlawfully renting out her family home, providing fresh political drama amid intense speculation that Treasury officials are modeling major tax hikes in the run-up to the budget.
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