28 Mar
Chapter News

European Commission | EU to invest €1.3 billion in artificial intelligence, cybersecurity and digital skills

The Commission will allocate €1.3 billion for the deployment of critical technologies that are strategically important for the future of Europe and the continent's tech sovereignty through the Digital Europe Programme (DIGITAL) work programme for 2025 to 2027 adopted today. The work programme focuses on the deployment of Artificial Intelligence (AI) and its uptake by businesses and public administration, cloud and data, cyber resilience and digital skills. More specifically, key priorities under the DIGITAL work programme include: Improving the availability and accessibility of generative...

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28 Mar
Chapter News

ECB | AI can boost productivity – if firms use it

Blog post by Antonin Bergeaud, Guzmán González-Torres Fernández, Vincent Labhard and Richard Sellner We constantly hear of exciting new ways AI tools can help to tackle economic problems and the productivity gains they bring. However, benefits can only materialize when firms actually use AI. This post is part of a miniseries related to the ECB conference “The Transformative Power of AI”, on 1-2 April 2025, bringing together researchers, practitioners, and policymakers. Learn more here. Though economists have attempted to quantify the potential economy-wide productivity...

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28 Mar
Member News

Vulcan View: The latest EU developments 24 March – 28 March

EU presents 47 Strategic Projects to secure critical raw materials The European Commission announced on Tuesday (25 March) a landmark initiative to secure the EU’s access to critical raw materials, selecting 47 Strategic Projects under the newly implemented Critical Raw Materials Act (CRMA). This initiative aims to reduce reliance on imports and strengthen the EU’s capacity to extract, process, and recycle resources vital for green technologies, defence, and digital industries. Spanning 13 EU member states—including Germany, France, Spain, and Sweden—the projects will focus...

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28 Mar
Member News

Offit Kurman | Why U.S. Residents Owning Foreign Homes Need a U.S. and a Foreign Will

By Diane K. Roskies, Partner Offit Kurman In today’s highly mobile world, it is increasingly common for U.S. citizens and permanent residents to own homes abroad. These properties may have been acquired as vacation homes, inherited from parents who remained in their home countries or maintained as dual residences for work, particularly by executives of international corporations. Even after retirement, many individuals choose to retain their non-U.S. homes. In my practice, I have encountered all these scenarios involving U.S. persons...

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27 Mar
Member News

GreenbergTraurig | CTA UPDATE: FinCEN Issues Interim Final Rule Exempting Domestic Companies and US Beneficial Owners From Reporting Requirements

Go-To Guide: Domestic companies and their beneficial owners are now exempt from the requirement to file beneficial ownership information (BOI) reports, or to update or correct previously filed BOI reports. Foreign reporting companies that do not qualify for an exemption must report BOI by April 25, 2025, but need not report their U.S. beneficial owners. The Financial Crimes Enforcement Network (FinCEN) is soliciting public comments on the interim final rule and intends to issue a final rule later this...

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27 Mar
Chapter News

European Commission | Press remarks by President von der Leyen on the first 100 days of the 2024-2029 Commission

Good afternoon everyone. On Tuesday, we will mark 100 days since the College of Commissioners took office. 100 days since 1 December that feel like a lifetime ago. The world around us is changing at lightning speed. Geopolitical shifts are shaking alliances. Decades-old certainties are crumbling. And we still have a brutal war raging at our borders. Despite these turbulent times, this Commission has hit the ground running. From day one, we stayed the course that we had laid out...

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26 Mar
Member News

Bannockburn Global Forex | Softer CPI Weighs on Sterling, Ahead of Budget Statement

Overview:  Uncertainty over next week's US tariff announcement continues weigh on markets and undermines near-term conviction. The dollar is mostly consolidating against the G10 currencies. Sterling is the heaviest, off about 0.3% after a soft CPI report and ahead of the Spring Budget Statement. The dollar bloc and Norwegian krone are the strongest. Among emerging market currencies, the Mexican peso roughly 0.25% loss puts it at the bottom of the performers today. The beaten-up Turkish lira is practically flat, but...

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25 Mar
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Steel and Aluminum Tariffs Now – What Comes Next?

By Susan Kohn Ross, Partner, MITCHELL SILBERBERG & KNUPP LLP Uncertainty and Impact on Compliance Keeping up with the ongoing changes and impact from tariffs continues to be wrought with challenge.  The latest pronouncements on steel and aluminum have not offered improved clarity, only additional questions. Working closely with your trade team is as critical as ever to get assistance in interpreting executive orders and guidance updates by President Trump and Customs and Border Protection. Recap of Steel and Aluminum Tariffs Canada Mexico China/Hong Kong As of...

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25 Mar
Member News

Berkowitz Pollack Brant | Understanding the Corporate Restructuring Side of FIRPTA

By Joel G. Young, JD, LLM With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and the ways in which they may avoid FIRPTA withholding tax on these and other types of transactions. The U.S. generally...

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25 Mar
Chapter News, Trade & TTIP Related

European Commission | EU strengthens protection for steel industry

The European Commission has tightened the steel safeguard measure to shield the EU steel industry from surging imports, delivering on the EU's Steel and Metals Action Plan. The Commission has reduced the liberalisation rate from 1% to 0.1%, limiting the amount of steel that can be imported into the EU tariff-free. Additionally, countries will no longer be able to use the entire volumes of unused quotas of other countries, including those of Russia and Belarus. The "carry-over" mechanism, which allowed countries to roll...

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