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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25 Mar
Chapter News

Council of the EU | Council adopts financial benchmarks regulation to ease burden on SMEs

The Council adopted today a regulation on financial benchmarks with the aim of reducing red tape for EU companies, particularly SMEs. Benchmarks are widely used by companies and investors in the EU as references in their financial instruments or contracts. This legislation amends a regulation from 2016 regarding the scope of the rules for benchmarks, the use of benchmarks provided by administrators located in third countries, and certain reporting requirements. Main elements of the amended benchmarks regulation Reduced regulatory burden on administrators of benchmarks...

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25 Mar
Chapter News

ECB | AI versus green: clash of the transitions?

AI adoption requires enormous amounts of electricity. And so does greening the economy. Are the digital and green transitions clashing or can they be successfully achieved together? The ECB Blog takes a closer look. 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. Two of the biggest economic challenges Europe faces are the digital and the green transitions. The former seeks...

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24 Mar
Chapter News

European Council | European Council, 20 March 2025 Main Results

EU leaders discussed Ukraine, the Middle East, competitiveness, European defence, the next MFF, migration, oceans, multilateralism and the Western Balkans. António Guterres, UN Secretary-General, was invited to a working lunch. A Euro Summit in inclusive format was held on the margins of the meeting. European Council conclusions, 20 March 2025 Remarks by President António Costa at the press conference following the European Council meeting of 20 March 2025 Euro Summit, 20 March 2025 The text on Ukraine was firmly supported by 26...

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24 Mar
Member News

EIB | President Calviño on artificial intelligence: “In Europe we race as a team”

EIB Group President Nadia Calviño addressed this year's edition of Journée de l'Économie focusing on the AI technologies. Thank you very much for the opportunity to share some thoughts with you on an issue that I am quite interested in, where we are all extremely interested in. But not only my current position as president of the European Investment Bank, but also as my previous position as vice president of the government of Spain and minister for economy and digitalization. Normally, people have...

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24 Mar
Chapter News

European Commission | EU unveils savings and investments union strategy to enhance financial opportunities for EU citizens and businesses

The European Commission has adopted its strategy for the savings and investments union (SIU), a key initiative to improve the way the EU financial system channels savings to productive investments. It seeks to offer EU citizens broader access to capital markets and better financing options for companies. This can foster citizens’ wealth, while boosting EU economic growth and competitiveness. The savings and investments union is a horizontal enabler that will create a financing ecosystem to benefit investments in the EU’s strategic objectives. As highlighted in...

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24 Mar
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – A Suez Canal update, turbulence in air cargo, trade compliance, tariffs and uncertainty for manufacturers, and the top tech trends of 2025.

Renewed hostilities in the Red Sea mean hopes are fading for container lines when it comes to resuming Suez Canal transits. Yemen’s Houthi rebels launched missile and drone attacks on U.S. warships following American airstrikes in Yemen. The President justified the strikes, saying he’s protecting Red Sea shipping, although experts link them to pressure on Iran. The Houthis also vowed to resume attacks on Israel-linked vessels. MSC CEO Soren Toft continues to reiterate that the Suez Canal remains unsafe, and...

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