12 Jun
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | IEEPA Tariffs to Remain Temporarily Despite Adverse Ruling; Aluminum and Steel Tariff Rate Increased

By Ryan Last, Daniel N. Anziska, Daniel Gorman, Charlene C. Goldfield, and Luke LoFrumento*, Troutman Pepper Locke On May 28, the U.S. Court of International Trade ruled that the tariffs imposed by President Trump under the International Emergency Economic Powers Act (IEEPA) were unlawful. In the case of V.O.S. v. United States, the court found that IEEPA does not delegate such broad tariff powers to the president and that the tariffs addressing illegal migration and illicit drug flows “do not deal...

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11 Jun
Chapter News

European Commission | EU seeks feedback on a European blueprint for Savings and Investments Accounts

The European Commission has invited citizens and stakeholders to contribute to the development of a European blueprint for savings and investments accounts. This initiative, part of the Savings and Investments Union strategy, aims to facilitate citizens' participation in capital markets, enhancing returns on their savings while increasing funding available for EU companies to help them grow, innovate and create jobs. The Commission's call for evidence seeks input on best practices to make savings and investments accounts a convenient entry point to...

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11 Jun
Chapter News

ECB | International use of the euro broadly stable in 2024

Euro’s share across various indicators of international currency use largely unchanged at around 19% Emerging challenges include initiatives promoting global use of cryptocurrencies Upholding rule of law essential for maintaining, and potentially increasing, global trust in the euro The international role of the euro remained broadly stable in 2024 and the euro held on to its position as the second most important currency globally. The share of the euro across various indicators of international currency use has been largely...

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11 Jun
Member News

Bennett Jones | Economic Outlook: Building Resilience and Capacity in a Disrupted World

Executive Summary: A World Disrupted by U.S. Policy Shifts and Uncertainty In a period of only months, actions by the U.S. administration of President Donald Trump have disrupted U.S. trade, foreign and economic policies, and created exceptional uncertainty for the U.S. and global economies and financial markets. Questions about the strategy and end game of the President for the rules that govern international trade and investment are forcing governments, businesses and investors worldwide to reassess their own strategies and relationships. A “tough on...

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10 Jun
Chapter News

OECD | Accelerated climate action can be a driver of growth and development

Ambitious climate targets that are underpinned by robust implementation and investment plans can provide economic opportunities, unlock investment, and support sustainable development and growth, while facilitating low-emission transitions, according to a new joint report by the OECD and the United Nations Development Programme (UNDP). Investing in Climate for Growth and Development: The Case for Enhanced Nationally Determined Contributions (NDCs) shows that aligning climate policies with economic and social priorities can lead to higher global GDP, accelerated poverty reduction, improved energy security...

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10 Jun
Member News

Troutman Pepper Locke | The One Big Beautiful Bill: Initial Analysis of Key Provisions for Private Equity Funds and Their Portfolio Companies

By: Christopher M. Flanagan, Buddy Sanders, Peter T. Wynacht, John C. Nelson, Jr., Troutman Pepper Locke On May 22, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the BBB). The BBB proposes amendments to the Internal Revenue Code (the Code) that could have significant consequences for private equity funds and their portfolio companies. This alert summarizes certain key tax provisions of the BBB that could impact private equity funds,...

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09 Jun
Chapter News

IMF | Is Public Money Safe without the Rule of Law?

By Joseph Dalibon, Jean-Philippe Vion Imagine a country where public funds are allocated arbitrarily rather than because of an analytical process or the government’s policy priorities. In such a country, contracts would be awarded on the basis of personal connections rather than through an open competitive tendering process. Accountability would be nonexistent. It sounds like a dystopian scenario, but it's a reality in places where the rule of law is weak. Good public financial management (PFM) hinges on a robust...

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09 Jun
Chapter News

ECB | The rule of law as a constitutional pillar of European central banking

Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Italian constitutional court Introduction Thank you very much for inviting me. The writings, judgments and speeches of many among this distinguished audience have shaped our understanding of the rule of law. I find it a privilege – and slightly daunting – to address you today on such a fundamental issue. Today I am speaking to you as a central...

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09 Jun
Chapter News, New York Related News

NY Fed | Inflation Expectations Decline; Labor Market Expectations Improve

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations declined at the short-, medium-, and longer-term horizons. Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly. The main findings from the May 2025 Survey are: Inflation Median inflation expectations decreased at all three horizons in May. One-year-ahead inflation expectations declined by...

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09 Jun
Member News

Eversheds Sutherland | Global: One Big Beautiful Bill impact on non-US persons with US investments or activities

The US One Big Beautiful Bill could have a material impact on many non-US persons with investments or activities in the US, including withholding taxes on dividends, interest payments and royalties from US to non-US persons as well as transfers of US branch profits to non-US firms. These withholding taxes may not fall within exemptions in tax treaties. Key takeaways Non-US persons with investments or activities in the US could be subject to a US tax increase of 5% on...

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