Member News, News, Trade & TTIP Related

Troutman Pepper Locke | Metals Market Shake-Up: Higher Section 232 Tariffs, Broader Coverage, Narrower Relief

On April 2, President Trump issued a proclamation titled “Strengthening Actions Taken to Adjust Imports of Aluminum, Steel, and Copper into the United States” (the Proclamation) under Section 232 of the Trade Expansion Act of 1962 (Section 232). The Proclamation substantially increases Section 232 tariff rates on many aluminum, steel, and copper products, shifts to applying those tariffs to the full customs value of covered imports, restructures which products are covered through new annexes to the Harmonized Tariff Schedule of the...

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MAST Advisors | Beyond the Bank: How Private Debt Can Help European Middle-Market Companies Acquire and Expand in the United State

A practical guide for European business owners and advisers pursuing U.S. acquisition-led growth Audience: European business owners and advisers evaluating U.S. acquisitions. Focus: how private debt can improve execution certainty, flexibility, and post-closing capacity. Why Private Debt Matters in U.S. Acquisitions For many middle-market European companies, acquisition-led expansion into the United States is strategically attractive. The U.S. offers scale, sector depth, a large target universe, and the ability to build a meaningful market position faster than through organic growth alone. Too often...

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Member News, News, Trade & TTIP Related

Jaguar Freight | Reimbursement Day

In this week’s Roar: Tariff refunds are beginning, global fuel is climbing, China and the Panama Canal, the seafarers stranded in the Middle East, and a surge in global air cargo demand. As a quick trade update, note that announcements were made last week impacting some metals and pharmaceutical tariffs. Click to read the Metals Fact Sheet and the Executive Order pertaining to Pharmaceuticals. It’s no longer a matter of if… only when. Finally, the CBP says it will begin refunding tariffs collected under the International Emergency...

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Chapter News, News, Trade & TTIP Related

IMF | Global Imbalance: Old Questions, New Answers?

Blog | Widening global current account imbalances are best addressed by simultaneous domestic policy adjustments. Industrial policy and tariffs offer a costly fix with unreliable effects on imbalances. Global current account imbalances are widening again, reversing a decade of steady decline following the global financial crisis. History suggests a clear risk: widening imbalances have often been accompanied by concentrated and lower-quality growth, triggered sectoral dislocations across trading partners, and preceded financial crises or abrupt reversals of capital flows. With the...

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ECB | How Banks Are Adjusting to Declining Reserves

As the Eurosystem normalises its balance sheet, central bank reserves – banks’ most liquid asset – keep declining. This post examines how banks adapt to lower levels of reserves and explains why take-up in the Eurosystem’s standard refinancing operations (SROs) is expected to increase.   Central bank reserves have almost halved from a peak of €4.9 trillion in 2022 to €2.6 trillion in early 2026 (Chart 1a). While still abundant, they are unevenly spread across banks. This implies that, as the Eurosystem...

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Ogletree Deakins | DOL Proposed Rule Would Increase Wage Levels for H-1B Visas, PERM Labor Certifications

On March 26, 2026, the U.S. Department of Labor (DOL) issued a notice of proposed rulemaking (NPRM) that proposes significant changes related to how prevailing wages are calculated for employers seeking to hire foreign workers under H-1B, H-1B1, and E-3 visa statuses, as well as permanent labor certification under PERM for EB-2 and EB-3 employment-based immigrant visa programs. Quick Hits The DOL issued an NPRM that would require significantly higher wages for foreign workers using H-1B, H-1B, and E-3 visas,...

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PwC | WTO’s 14th Ministerial Conference: Longstanding Moratorium on Customs Duty on Electronic Transmissions Expires

In brief What happened? Despite extensive negotiations at the World Trade Organization’s (WTO) 14th Ministerial Conference (MC14) held in Cameroon between 26-30 March 2026, Members failed to reach agreement on extending the moratorium on customs duties on electronic transmissions. The moratorium has now expired, as of 30 March 2026. The moratorium had been in place since 1998, preventing WTO Members from imposing customs duties on digitally delivered products such as software, audiovisual content, and other electronic transmissions. In parallel, 66 WTO...

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A&L Goodbody | Scaling Up for Net Zero: What the EU’s Net Zero Industry Act Means for Business

This article outlines the Net Zero Industry Act’s scope, key regulatory and procurement measures, and what businesses should keep in mind as they prepare. In this article, we outline the scope of the Net Zero Industry Act, highlight its key regulatory and procurement measures, and explain what businesses should consider as they plan for its impact. The European Union (EU) continues to accelerate its transition to a climate neutral economy, with the Net Zero Industry Act (NZIA) considered a central legislative component of this initiative. Emerging...

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Chapter News, News

European Commission | Questions and Answers on the EU ETS Market Stability Reserve

What is the Commission proposing to change in the EU ETS Market Stability Reserve? The Commission is proposing to stop the automatic invalidation of ETS allowances held in the Market Stability Reserve (MSR) above 400 million. Instead of being cancelled, these allowances will be retained in the reserve. This strengthens the MSR's role as a buffer, improving its ability to respond to future market developments, including situations of supply tightness or excessive price volatility, while preserving the system's rules-based design. Why is the Commission...

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CLA | IEEPA Tariff Refunds: FAQs for Importers

Key insights IEEPA tariffs have been ruled unlawful and collections have stopped, but the broader tariff environment remains fluid as replacement tariffs and new trade actions emerge. Refunds are expected, but they won’t be automatic — importers must take affirmative steps in CBP’s ACE system (including electronic refund setup) to receive payment. Companies should plan for related interest, accounting/tax impacts, and potential downstream or transfer‑pricing analysis. Tariffs have been a major cost — and headache — for importers since they were...

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