Speech by Vice Chair Richard H. Clarida at the C. Peter McColough Series on International Economics Council on Foreign Relations, New York, New York (via webcast) |
It is my pleasure to meet virtually with you today at the Council on Foreign Relations.1 I regret that we are not doing this session in person, as we did last year, and I hope the next time I am back, we will be gathering together in New York City again. I look forward to...
On January 7, 2021, the United States Trade Representative (USTR) announced that new tariffs on certain French products are indefinitely suspended. According to USTR, the duties — which resulted from a Section 301 investigation of France’s Digital Services Tax (DST) and were set to take effect on January 6, 2021 — are being set aside as a means of “promot a coordinated response” to other DSTs that have been proposed or adopted in the European Union (EU) and multiple countries.
The European Commission today proposed to the EU Member States to purchase an additional 200 million doses of the COVID-19 vaccine produced by BioNTech and Pfizer, with the option to acquire another 100 million doses.
This would enable the EU to purchase up to 600 million doses of this vaccine, which is already being used across the EU.
The additional doses will be delivered starting in the second quarter of 2021.
The EU has acquired a broad portfolio of vaccines with different...
On January 6, 2021, the U.S. Department of Labor (DOL) finalized its highly anticipated independent contractor rule. The rule delivers on the DOL’s promise to simplify, clarify and harmonize the factors for determining when a worker is an independent contractor versus an employee under the Fair Labor Standards Act (FLSA). It is meant to be the sole and authoritative interpretation for this analysis. Although the rule is slated to take effect March 8, 2021, the new administration is expected to...
The post-Brexit trade and cooperation agreement reached in the hours before Christmas between the UK and the EU is one of the most important trade deals in history. It is also the first to disintegrate a trading partnership, constructing, rather than removing barriers to trade.
After 47 years of EU membership, British Prime Minister Boris Johnson welcomed in the New Year telling Britons that “we have our freedom in our hands and it is up to us to make the...
Paris, 14 November 2020 | by Pedro Sánchez, President of the Spanish Government and Angel Gurría, Secretary-General of the OECD. You may view the OECD 60th anniversary Leaders’ Commemoration Event here |
On 14 December this year, we are commemorating the 60th anniversary of the signature of the Convention establishing the Organisation for Economic Co-operation and Development (OECD). The OECD succeeded the Organisation for European Economic Co-operation (OEEC), which was created in 1948 to administer American and Canadian aid under the...
Who Needs to Know
All parties interested in participating in the PPP.
Why It Matters
In addition to allocating $284.45 billion in new funding, this package of laws include significant clarifications and modifications to the PPP that are important to borrowers and lenders.
On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021, which included the Economic Aid to Hard-Hit Small Businesses, Non-profits, and Venues Act (the Act), the COVID-Related Tax Relief Act of 2020, and the Taxpayer Certainty...
On December 31, 2020, the Trump administration issued a presidential proclamation extending the ban of entry for certain nonimmigrant and immigrant visas as outlined in its April 22, 2020, and June 22, 2020, proclamations. The ban includes certain applications for H-1B, H-2B, J-1, and L-1 visas for persons who were not present in the United States as of the effective date of the proclamation, as well as all applications for immigrant visa holders. The bans were set to expire on December 31,...
The Portuguese government decided to remove Andorra from the list of countries and territories that Portugal classifies as tax havens.
Andorra was removed from the list of countries and territories that Portugal classifies as tax havens at the beginning of this year, according to an order published in the country’s state journal on the last day of 2020.
The Portuguese government’s decision came after it received a formal request from the Principality to revise its place on the list and was...
The Commodity Futures Trading Commission (CFTC) and the European Securities and Markets Authority (ESMA) today announced the signing of a new Memorandum of Understanding (MOU) regarding cooperation and the exchange of information with respect to certain registered derivatives clearing organizations established in the United States that are central counterparties (CCPs) recognized by ESMA under the European Market Infrastructure Regulation (EMIR).
Through the MOU, ESMA and the CFTC express their desire for enhanced cooperation as to the larger U.S. CCPs operating in the European Union...