30 May
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Updates on the Legal Battle Over Tariffs

IMPORTANT TARIFF UPDATE - (5/29) The Court of International Trade has issued a joint decision, ruling that the International Emergency Economic Powers Act (IEEPA) does not authorize many of the new tariffs imposed by way of executive order. As a result, on May 28 the Court ordered that the directives imposing these tariffs be vacated and permanently enjoined. The court has issued a permanent injunction which means the tariffs cannot be collected or enforced unless the ruling is stayed or reversed....

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30 May
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | The Silent Tax War: How VAT and Tariffs Are Rewriting Global Trade Strategy

By Noa Sussman, Director of Global Solutions, TECEX Global trade isn’t just about free trade agreements or currency fluctuations anymore. While those factors still matter, a quieter — and often underestimated — force is reshaping how companies produce, move, and sell their goods across borders: taxes. Not the headline-makers like corporate income tax or capital gains. I’m talking about the less glamorous but increasingly powerful trio: VAT (Value Added Tax), tariffs, and duties. These tools, once left to compliance teams and customs...

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30 May
Member News

Arendt | EU adopts 17th package of restrictive measures against Russia

On 20 May 2025, the Council of the EU adopted its seventeenth package of restrictive measures against Russia, which supplements those detailed in our previous newsflashes. This package significantly intensifies the restrictions on Russia’s ‘shadow fleet’ and strengthens the EU’s efforts to prevent the circumvention of sanctions. The Council has adopted seven regulations, which entered into force on 21 May 2025: Council Regulation (EU) 2025/932 of 20 May 2025 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions...

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30 May
Member News

Vulcan View: The latest EU developments 26 May – 30 May

European Commission unveils new EU Startup and Scaleup Strategy On Wednesday, 28 May, the European Commission launched an EU Startup and Scaleup Strategy to “make Europe a great place for starting and growing global technology-driven companies.” Startups and scaleups drive competitiveness by sparking innovation and sustainable growth, creating high-quality jobs, attracting investment, and reducing strategic dependencies. The initiative focuses on the science component, promoted by European Commission President Ursula von der Leyen, to promote a unified European approach to attract and retain talent, thereby...

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30 May
Chapter News

ECB | Monetary policy transmission: from mortgage rates to consumption

By Pedro Baptista, Maarten Dossche, Andrew Hannon, Dorian Henricot, Omiros Kouvavas, Davide Malacrino and Larissa Zimmermann Despite recent ECB rate cuts, the average interest rate on mortgages is expected to increase further. This is because of lagged effects from the latest hiking cycle. The ECB blog shows that the resulting drag on consumption could last at least until 2030. Mortgage contracts often have interest rates fixed for long periods, or even for the entire duration of the contract. This implies that...

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30 May
Chapter News, New York Related News

New York State Governor | Statement from Governor Kathy Hochul on Tariff Court Ruling

“Today's decision is a resounding victory for New Yorkers, American consumers and the rule of law. These reckless and unauthorized tariffs have burdened businesses with skyrocketing costs that have been passed along to consumers and wreaked havoc on our 401Ks — all without the legal authority to do so. “This ruling affirms what I have said from the beginning: the Executive Branch does not have the power to unilaterally impose these sweeping economic measures that harm the very people we...

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29 May
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | U.S. Court Finds Fentanyl and Reciprocal Tariffs Unlawful

By Erik Smithweiss The U.S. Court of International Trade (CIT) issued a decision May 28 declaring unlawful the IEEPA fentanyl tariffs imposed on Canada, Mexico and China, and the Reciprocal tariffs imposed on all other countries.  V.O.S Selections Inc. et al v. United States, Slip Op. 25-66.  The court found that the International Emergency Economic Powers Act (IEEPA), the statute the President had invoked to justify these tariffs, did not provide the required statutory authority for these assessments. The Government has already filed...

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29 May
Chapter News

ECB | Earning influence: lessons from the history of international currencies

Speech by Christine Lagarde, President of the ECB, at an event on Europe’s role in a fragmented world organised by Jacques Delors Centre at Hertie School in Berlin, Germany Over the past 80 years, the global economy thrived on a foundation of openness and multilateralism – underpinned by US leadership. By championing a rules-based international system and anchoring the dollar as the world’s reserve currency, the United States set the stage for trade to flourish and finance to expand. This global...

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29 May
Chapter News

European Commission | Remarks by Commissioner Zaharieva on the EU Startup and Scaleup Strategy

Commissioner Ekaterina Zaharieva Ladies and Gentlemen, Today, the College has taken an important step to make Europe the best place for innovation. The best place to start, to scale, to stay. President von der Leyen made it clear when she presented the new College: Startups and scaleups are a top priority of this Commission. We are delivering on that promise. Our innovators don't just build companies. They create jobs. They turn ideas into solutions that improve and save lives. The good news is that we are not starting...

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29 May
Chapter News

IMF | Debt is Higher and Rising Faster in 80 Percent of Global Economy

Fiscal Policy under mounting uncertainty means government budgets need resilience—particularly in countries whose economic weight makes them influence global trends Blog post by Era Dabla-Norris, Davide Furceri | Global public debt could increase to 100 percent of global gross domestic product by the end of the decade if current trends continue, according to projections in our latest Fiscal Monitor. The rising ratio of public debt to GDP reflects renewed economic pressures as well as the consequences of pandemic-related fiscal support, according to...

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