29 Apr
Chapter News

ECB | Navigating a fractured horizon: risks and policy options in a fragmenting world

Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the conference on “Policy challenges in a fragmenting world: Global trade, exchange rates, and capital flow” organised by the Bank for International Settlements, the Bank of England, the ECB and the International Monetary Fund Frankfurt am Main, 29 April 2025 I’m honoured to welcome you to this conference, jointly organised by the Bank for International Settlements (BIS), the Bank of England, the European Central Bank (ECB) and the...

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28 Apr
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | The Impact of Tariffs on Tax Valuation

By Tom Gottfried, Managing Director, National Tax Valuation, Valuation Research Corporation, and Philip Gregorcy, Senior Advisor, Valuation Research Corporation The current Administration’s recent imposition of tariffs on U.S. imports has sent shockwaves through the global economy, with far-reaching implications for international trade, supply chains, and tax valuation. In this article, we will explore the rationale behind tariffs and their economic, technical, and tax valuation implications. Trade Turbulence On April 2, the Administration announced tariffs on approximately 90 countries, with a list of “reciprocal”...

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28 Apr
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | Marc to Market: May 2025 Monthly

By Marc Chandler, Chief Market Strategist, Bannockburn Capital Markets The global economy has entered a phase of heightened uncertainty, and at the center of this instability stands the United States. In a reversal of its traditional role as a pillar of predictability and leadership, the U.S. has adopted an erratic posture—rife with sudden feints, policy reversals, and institutional strain. Nowhere is this more evident than in the Trump administration’s economic and foreign policy strategy, which increasingly appears less a coherent vision...

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28 Apr
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – Blank sailings surge, status of the trade war, growth in tech adoption, a revenue hit for air cargo, and new numbers from the ATA.

A sharp drop in U.S.-China trade, driven by escalating tariffs, has led to a surge in blank sailings, exceeding levels seen during the pandemic. Over 80 sailings were canceled in April 2025, surpassing the 51 reported in May 2020. Sea-Intelligence data forecasts a 28% drop in container demand on the Asia–U.S. West Coast route and 42% on the East Coast. Smaller carriers that rely on Chinese exports are facing severe strain, with some at the point of collapse. Empty container stockpiles...

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25 Apr
Chapter News

ECB | The first year of the Eurosystem’s new operational framework

By Benjamin Hartung, Tobias Linzert, Imène Rahmouni-Rousseau, Yannik Schneider and Marta Skrzypińska One year after its announcement, the new operational framework is working as intended. Euro area banks have adapted to declining central bank reserves as the Eurosystem's balance sheet is normalising. The ECB Blog assesses how banks and money markets cope with the new environment. The normalisation of monetary policy over recent years has also meant declining amounts of central bank reserves in the hands of commercial banks. In March...

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25 Apr
Member News

Vulcan View: The latest EU developments 21 April – 25 April

European Commission imposes landmark DMA fines on Apple and Meta On Wednesday (23 April), the European Commission sent a strong message to Big Tech companies by announcing significant fines for Apple and Meta due to their non-compliance with the EU’s Digital Markets Act. The European Commission fined Apple €500 million and Meta €200 million, asserting that both giants have stifled competition and limited consumer choice through their operational practices. This decisive action marks the first instance of non-compliance fines issued under the...

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24 Apr
Member News, Trade & TTIP Related

Transatlantic Trade Monitor: Facts You Need Now | The Unraveling Anchor: America’s Volatility and the New Global Order

By Marc Chandler, Chief Market Strategist, Bannockburn Capital Markets The global economy has entered a phase of heightened uncertainty—and at the center of this turbulence stands the United States. In a striking reversal of its traditional role as a pillar of predictability and leadership, the U.S. has adopted an increasingly erratic posture, marked by sudden policy feints, reversals, and mounting institutional strain. Nowhere is this more evident than in the Trump administration’s economic and foreign policy approach, which resembles less a...

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24 Apr
Member News

PwC | Mitigating risk at the intersection of cybersecurity and financial reporting

CFOs and CISOs should collaborate to mitigate cyber risks, strengthen internal controls and confirm accurate financial reporting. Regular evaluations of cyber risks, including identity management, endpoint security and third-party risks help maintain financial data integrity. Prioritizing financial systems in response plans supports resilience, accurate disclosures and faster recovery from cyber threats. Ongoing communication between finance and security teams makes sure cybersecurity measures evolve with business changes and regulatory demands. As cyber threats become more sophisticated and pervasive, collaboration between...

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24 Apr
Member News

Briddge | Upcoming Dutch and European Tax changes

The Netherlands Personal Income Tax: Information request for assessment actual yield on savings Savings and investments (Box 3) in income tax returns are currently taxed based on a notional yield - a fixed yield, that is expected based on the type of savings or assets. Changes have been made to the structure of Box 3, which was required due to supreme court rulings. The house of representatives wishes to have a tax system whereby the actual yield is being taxed, aiming...

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23 Apr
Chapter News

IMF | Rising Global Debt Requires Countries to Put their Fiscal House in Order

Amid heightened uncertainty, policymakers will need to deal with complex trade-offs between debt, slower growth, and new spending pressures Major policy shifts underway have heightened global uncertainty. The series of recent tariff announcements by the United States, and countermeasures by other countries have increased financial market volatility, weakened growth prospects, and increased risks. They come in the context of rising debt levels in many countries and already strained public finances, which in many cases will also need to accommodate new...

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