14 Mar
Member News

Vulcan View: The latest EU developments 10 March – 14 March

European Commission presents Critical Medicines Act to tackle drug shortages On Tuesday, 11 March, European Commissioner for Health and Animal Welfare Olivér Várhelyi introduced the Critical Medicines Act (CMA), sharing that the proposal is needed to ensure the security of supply and availability of essential medicines in Europe. Várhelyi highlighted that the Act builds on the work of the Critical Medicines Alliance and will have a positive impact on EU competitiveness by creating a more stable and predictable market. The Act was initially mentioned in European...

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13 Mar
Member News

Loyens & Loeff | Pillar Two: EU Council reaches political agreement on DAC9 proposal

On 11 March 2025, the EU Council has reached political agreement regarding the proposed amendment to the Directive on Administrative Cooperation to facilitate the filing and exchanging of Pillar Two-related information in the EU (known as DAC9). DAC9 should now be formally adopted by the EU Council and published in the Official Journal of the EU. Once adopted, DAC9 would have to be implemented into national law of EU Member States by 31 December 2025, i.e., six months prior...

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13 Mar
Chapter News

ECB launches pilot project for research access to confidential statistical data

Anonymised data on individual banks in the entire euro area will be available to academic researchers Several access modes will be tested with a view to establishing a permanent framework for research access to ECB data The European Central Bank (ECB) today launched a pilot project to facilitate research access to data it collects from the financial sector. The initiative aims to promote independent research, enhance cross-country economic analysis and promote a deeper understanding of financial dynamics within the...

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13 Mar
Chapter News

IMF | How Sound Economic Policy Can Help Prevent Conflict

Simulations that incorporate machine learning-based predictions of conflict suggest large payoffs from preventive policies, including efforts to promote macroeconomic stability and growth  Blog post by Franck Bousquet, Paul M. Bisca, Christopher Rauh, Benjamin Seimon | Macroeconomic policy can play a key role in preventing armed conflict, in turn saving lives and avoiding injuries, forced displacement and migration, and vast damage to the economy. That’s according to new IMF research, based on policy simulations incorporating machine learning-based predictions of conflict. The paper finds that every $1...

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12 Mar
Member News

Troutman Pepper Locke | New Federal Circuit Ruling Opens the ITC to Many More IP Owners

In a recent ruling, the U.S. Court of Appeals for the Federal Circuit upended years of settled law and ruled that sales and marketing expenses, by themselves, can be the basis for a finding of domestic industry in an International Trade Commission (ITC) enforcement action. This decision will make the ITC available to U.S. IP owners who import their goods from overseas and do not have a manufacturing base in the U.S. Lashify, Inc., a U.S.-based company that distributes, markets,...

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12 Mar
Chapter News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | European Commission countermeasures on US steel and aluminium tariffs explained

On 12 March, the United States imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners. In response, the Commission is launching a series of countermeasures to protect European businesses, workers and consumers from the impact of these unjustified trade restrictions. Context: measures and countermeasures imposed under the previous Trump administration In June 2018, the first Trump Administration introduced tariffs on European steel and aluminium...

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12 Mar
Chapter News

ECB | New data release: ECB wage tracker continues to indicate that negotiated wage pressures will ease

ECB wage tracker, updated with agreements signed up to 19 February 2025, broadly unrevised compared to data release following January Governing Council meeting Forward-looking information continues to suggest that negotiated wage pressures will ease overall in 2025 Forward-looking information from the wage tracker should not be interpreted as a forecast The European Central Bank (ECB) wage tracker, which only covers active collective bargaining agreements, indicates negotiated wage growth with smoothed one-off payments of 4.7% in 2024 (based on an...

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11 Mar
Chapter News

Council of the EU | Council agrees to enhance cooperation and information exchange on minimum effective corporate taxation

The Council reached a political agreement today on a new EU directive (DAC9) that will improve administrative cooperation in the field of taxation. The objective of this legislation is to enhance cooperation and information exchange on minimum effective corporate taxation to better fulfil the filling obligations that multinational enterprise groups and large-scale domestic groups have under the Pillar 2 of the G20/OECD global agreement. This international deal was reached to avoid base erosion and profit shifting, ensuring that large corporations...

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11 Mar
Chapter News, New York Related News

NY Fed | Medium- and Longer-Term Inflation Expectations Unchanged; Consumers’ Pessimism About Their Future Financial Situations Increases

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the February 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased slightly at the short-term horizon but remained unchanged at the medium- and longer-term horizons. Households expressed more pessimism about their year-ahead financial situations in February, while unemployment, delinquency, and credit access expectations deteriorated notably. Meanwhile, spending growth expectations rose significantly. Average quit probabilities among those employed fell to the lowest level since...

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11 Mar
Member News

PwC | Highlights from the president’s first speech to a joint session of Congress

President Trump addressed a joint session of Congress on Tuesday, making it clear that he intends to continue the course he set when he took office on January 20. He reaffirmed broad-based tax cuts, increased tariffs, deregulation of US business, increased domestic energy production, along with maintaining America’s leadership in artificial intelligence (AI) and other critical technologies. He praised the work of the Department of Government Efficiency (DOGE) for cutting the size of government, the new measures to restrict...

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