12 Apr
Chapter News

North American Governments Call for Effective and Immediate Commitments to Address Global Steel Excess Capacity

Citing the dramatically worsening steel market situation in all three countries, the governments of Canada, Mexico and the United States agree on the need for governments of all major steel-producing countries to make strong and immediate commitments to address the problem of global excess steelmaking capacity.  Officials of Canada, Mexico and the United States, along with North American steel company representatives, met in Mexico City on March 31 – April 1, for the North American Steel Trade Committee, where they reviewed...

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11 Apr
Chapter News

VAT Action Plan: Commission presents measures to modernise VAT in the EU

Today's Action Plan is the first step towards a single EU VAT area which is equipped to tackle fraud, to support business and help the digital economy and e-commerce. The European Commission has presented an Action Plan setting out ways to reboot the current EU VAT system to make it simpler, more fraud-proof and business-friendly. The current VAT rules urgently need to be updated so they can better support the Single Market, facilitate cross-border trade and keep pace with today's digital...

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11 Apr
Chapter News

First release for the fourth quarter of 2015 – Business investment rate up to 22.2% in the euro area – Business profit share nearly stable at 40.0% in the euro area

In the fourth quarter of 2015, the business investment rate was 22.2% in the euro area, compared with 22.0% in the previous quarter. The business profit share in the euro area was 40.0% in the fourth quarter of 2015, compared with 39.9% in the third quarter of 2015. Full text available on EUROSTAT website

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11 Apr
Chapter News

Teaching about the EU: “44% of Europeans don’t understand how the EU works”

Would learning about the EU at school help to better understand what it is really all about? On Monday 11 April MEPs debate a non-legislative report calling on member states to have schools teach more about European issues to enable people to better engage with the EU. They will vote on it the following day. We spoke to report author Damian Drăghici, a Romanian member of the S&D group, ahead of the debate. In your report you say that if...

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08 Apr
Member News

DOJ Fraud Section Offers Super Credit in FCPA Pilot Program

This week, the Fraud Section of the Department of Justice (DOJ) announced a pilot program that extends additional “mitigation credit” to qualifying companies that “fully cooperate” in matters involving the Foreign Corrupt Practices Act (FCPA). Under the new program, companies that self-disclose and satisfy the DOJ's expectations for cooperation and remediation can obtain up to a 50 percent reduction off the low end of the potential fine range that would otherwise be applicable to the violation. The program furthers the...

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08 Apr
Chapter News

Andreas Dombret Bundesbank: More painkillers, please? Why more finance is the wrong medicine or our growth problem

Dr Andreas Dombret Member of the Executive Board of the Deutsche Bundesbank | Keynote remarks delivered at the Harvard Law School Symposium on Building the Financial System of the 21st Century: An Agenda for Europe and the US  Dear Professor Scott, Dear Ladies and Gentlemen 2016 marks the 30th anniversary of the Program on International Financial Systems. That's about the age when young people begin to realise that smoking, drinking and working late hours won't leave their physique unscathed....

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07 Apr
Chapter News

Speech by Commission Vice-President Katainen at the EPSC High-Level Conference “Europe as an Investment Destination”

The European economy is now entering its fourth year of recovery and growth continues at a moderate rate, driven mainly by consumption. In the near term, I expect investment to gradually pick up as well, as demand increases, as businesses put their machinery back to work, and as profits increase thanks to lower energy prices and cheap credit. The Investment Plan for Europe will also start to have a positive impact on public and private investment. Given these favourable conditions,...

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07 Apr
Chapter News

VAT Action Plan: Commission presents measures to modernise VAT in the EU

Today's Action Plan is the first step towards a single EU VAT area which is equipped to tackle fraud, to support business and help the digital economy and e-commerce. The European Commission has presented an Action Plan setting out ways to reboot the current EU VAT system to make it simpler, more fraud-proof and business-friendly. The current VAT rules urgently need to be updated so they can better support the Single Market, facilitate cross-border trade and keep pace with today's digital...

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06 Apr
Chapter News, Trade & TTIP Related

Agriculture Secretary Tom Vilsack to Travel to Germany and France

Agriculture Secretary Tom Vilsack will travel to Berlin and Paris next week to discuss areas of mutual interest between the European and American agricultural sectors. In Berlin, Vilsack will meet with German officials as well as farmers about rural economic development opportunities and to underscore the importance of the Transatlantic Trade and Investment Partnership (TTIP). He will then lead the U.S. delegation to the Organization for Economic Cooperation and Development (OECD) Meeting of Agriculture Ministers, which is being held in...

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06 Apr
Member News

Potential Duty Savings for E-Commerce Shipments

A modification of existing law resulting from the Trade Facilitation and Trade Enforcement Act recently signed into law on February 24, 2016 significantly expands duty saving opportunities in the direct internet sales sector as it increases the dollar limits of shipments that qualify for duty free importation. This increase should be of particular interest to the fashion and luxury goods sector because their duty rates are high and the increased exemption level may make the provision of law a more viable tool...

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