Member News

11 Aug
Member News

ING backs new defence bank for Europe

ING is one of five international banks backing a new defence bank that’s being set up to help NATO countries and their allies to finance their defence needs. ING will provide both financial and technical support to the Defence, Security and Resilience Bank (DSRB). The other financial institutions involved are Commerzbank, JP Morgan, LBBW and RBC Capital Markets. The creation of the not-for-profit defence bank follows the recent commitment by NATO countries to invest 5% of their GDP in defence. Building...

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11 Aug
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Global Equity Strategy: Read-Through From Latest Tariff Announcements

Key Takeaways • The White House has announced a broader set of country-specific tariffs, with some higher than expected, such as the 39% tariff on imports from Switzerland. • We see announced tariffs as possibly resulting in a 4-percentage-point (pp) drag on 2025 MSCI AC World earnings growth. • Combined with signs of economic slowdown, the tariffs could raise questions about how sustainable continued near-term upside is for equity markets. In a new report from Citi Research, a team of equity strategists led...

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08 Aug
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Impact of U.S. Import Tariffs on the Port of Antwerp Bruges

Strong trade relationship with the United States The United States has been one of Port of Antwerp-Bruges’ most important trading partners for over two decades. In 2024, the US accounted for approximately 10% of the port’s total maritime cargo traffic, with a trade volume of 28 million tonnes. Both import and export took place on a large scale, with slightly more imports than exports. • Container traffic was the largest segment in transatlantic trade, totaling over 14 million tonnes of goods. Exports...

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08 Aug
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | President Trump advances trade agenda with updated tariffs, announces additional trade agreements

What happened? Since the Trump administration’s July 7 announcement delaying implementation of reciprocal tariffs from July 9 to August 1, the United States has reached preliminary framework trade agreements with the European Union (EU), Japan, Indonesia, and the Philippines (see PwC's Tax Insights dated July 11, July 18, and July 30). Preliminary trade agreements with China and Vietnam also have been reached and a trade agreement with the United Kingdom has been finalized. Following the release of our July 30...

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08 Aug
Member News

Bannockburn Capital Markets | US Tariffs Roil Gold Futures, while Greenback Steadies

Overview: Most the dollar's late sell-off yesterday after the White House endorsed Stephen Miran to fill the remainder of Governor Kugler's term at the Federal Reserve has been recouped today. In mostly narrow ranges, the greenback is firmer against the G10 currencies but the Canadian dollar and sterling. The dollar is also trading with a stronger bias against emerging market currencies. China reports its CPI and PPI figures tomorrow, and next week's US July CPI is expected to have risen...

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06 Aug
Member News

Barnes & Thornburg | The Transatlantic Divide Widens: U.S. vs EU 2025 Sustainability Policy

While the United States (U.S.) had begun to diverge from the European Union (EU) on sustainability policy in 2024 due to political and legal shifts, that trajectory accelerated in 2025. Under the current administration, the U.S. has taken a markedly different path from the EU in addressing climate change, renewability, and environmental, social and governance (ESG) priorities. As the EU continues to advance green development goals, enforce disclosure mandates and strengthen international climate commitments, the U.S. has pursued broad deregulation,...

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04 Aug
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | The Big, BeaEUtiful Trade Deal

By Ian Hunter, Director, OCO Global US–EU tariff pact rewrites the map for energy, autos and chips. On July 27, 2025, President Donald Trump and European Commission President Ursula von der Leyen stepped out from closed-door talks in Scotland with a tentative handshake and a headline-grabbing accord. Trump declared it “a great deal for American energy, American jobs, and American strength.” Von der Leyen called it “a compromise to protect European competitiveness.” The compromise? A 15% U.S. baseline tariff covering about 70% of EU goods,...

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04 Aug
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Tariff Surge: Trade Deals Announced, US Increases Canadian Tariffs and Amends Reciprocal Tariffs

By Daniel Anziska and Ryan Last On July 31, 2025, President Trump issued two executive orders that further refine U.S. trade policy. The first executive order, “Further Modifying the Reciprocal Tariff Rates” (the RT Order), adjusts tariff rates for various countries based on trade negotiations and economic alignments, while the second executive order, “Amendment to Duties to Address the Flow of Illicit Drugs Across Our Northern Border” (the Canadian Order), increases duties on Canadian goods imported into the U.S. that...

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04 Aug
Member News

Bannockburn Capital Markets | August 2025 Monthly

The August lull is a myth—a mirage for those who mistake heat for inertia. As this summer advances, businesses and investors should brace for turbulence, not tranquility. A kaleidoscope of US tariffs, an escalation of Russia's assault on Ukraine ahead of the American deadline, deceleration of US growth, when looking through the trade-related distortion, and the de-synchronization of the monetary cycle, weave together a narrative far more dramatic than Northern Hemisphere’s summer doldrums. Market participants and policymakers alike will...

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04 Aug
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – The EU’s new trade deal, the first direct transcontinental railroad, the rise in cargo theft, spiking emissions due to the Red Sea crisis, and updating supply chain management curriculum.

First, a tariff update: The White House issued this fact sheet updating the reciprocal tariff rates for many countries on July 31 (read it here). Noteworthy is the new Aug. 8 start date. Currently under question is the legality of the reciprocal tariffs with a federal appeals court considering a pivotal case that could significantly undermine President Donald Trump’s global tariff strategy. At the heart of V.O.S. Selections v. Trump is the question of whether Trump unlawfully bypassed Congress by using emergency powers to implement...

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