The chief of the European Union's executive on Tuesday proposed an 800 billion euro ($841 billion) plan to beef up defenses of EU nations to lessen the impact of potential U.S. disengagement and provide Ukraine with military muscle to negotiate with Russia following the freeze of U.S. aid to the embattled nation.

European Commission President Ursula von der Leyen said the massive "REARM Europe" package will be put to the 27 EU leaders who will meet in Brussels on Thursday in an emergency meeting following a week of increasing political uncertainty from Washington, where President Donald Trump questioned both his alliance to the continent and the defense of Ukraine.

President Joseph Aoun and Saudi Crown Prince Mohammad bin Salman have stressed “the importance of the full implementation of the Taif Agreement and the relevant U.N. resolutions,” in a joint statement issued after Aoun’s first visit to the kingdom in his capacity as president.

President Donald Trump's long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States' North American allies.

Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25%, with Canadian energy products subject to 10% import duties.

Arab leaders meeting in Egypt are set to approve a counterproposal to President Donald Trump's call for the Gaza Strip to be depopulated and transformed into a beach destination.

The summit on Tuesday hosted by Egyptian President Abdel-Fattah el-Sissi is expected to include the leaders of regional heavyweights Saudi Arabia and the United Arab Emirates, whose support is seen as crucial for any postwar plan.

Arab foreign ministers are meeting in Cairo Monday for talks focusing on an Egyptian plan to rebuild the war-ravaged Gaza Strip that is meant to counter President Donald Trump’s proposal to transfer Palestinians out of the coastal enclave and take it over.

The ministers’ meeting comes ahead of an Arab summit Tuesday in Cairo which is meant to adopt the Egyptian plan, Egypt’s Foreign Minister Badr Abdelatty said.

Shares were mostly higher in Europe and Asia on Monday, helped by strong Chinese factory data, following Friday's rally on Wall Street.

Germany's DAX added 0.5% to 22,658.00, while the CAC 40 in Paris was up less than 0.1% at 8,115,97.

The Madrid derby takes center stage in the round of 16 of the Champions League, with Atletico Madrid in a commanding position to try to finally get the best of rival Real Madrid in the European competition.

Madrid, the record 15-time European champion, has been a thorn for Atletico in the Champions League over the years, beating the city rival in two finals and eliminating it from the competition the other two times they faced off in the knockout rounds.

Argentina coach Lionel Scaloni has selected a preliminary list of 33 players led by Lionel Messi for South American qualifying matches against Uruguay and Brazil.

One of the bright young talents in a revamped squad is striker Claudio Echeverri, who has just joined Manchester City after having played in the South American Under-20 championships.

Barcelona cruised to a 4-0 rout of 10-man Real Sociedad to regain the lead in Spain on Sunday.

Gerard Martín, Marc Casadó, Ronald Araujo and Robert Lewandowski scored a goal each to put Barcelona one point ahead of second-placed Atletico Madrid at the top of the Spanish league.

Israel this week introduced what it said was a new U.S. ceasefire plan — different from the one it agreed to in January — and is trying to force Hamas to accept it by imposing a siege on the Gaza Strip.

Prime Minister Benjamin Netanyahu referred to it as the "Witkoff proposal," saying it came from U.S. President Donald Trump's Mideast envoy, Steve Witkoff. But the White House has yet to confirm that, saying only that it supports whatever action Israel takes.