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Member News
Member News
03
Mar
The U.S. Trade Representative (USTR) has another proposal—impose port fees of up to $1.5 million on Chinese-built and operated vessels entering American ports. These fees, which could be considered as another form of tariffs, would aim to counteract China’s dominance in shipbuilding. However, it could also significantly increase costs for shipping companies utilizing Chinese-built ships, potentially disrupting global supply chains. The proposal also includes incentives for U.S.-built vessels and mandates for a portion of U.S. exports to be transported on...
01
Mar
In line with the President’s America First Trade Policy Memorandum and the Presidential Memorandum on Reciprocal Trade and Tariffs, the Office of the United States Trade Representative (“USTR”) is now inviting public comments regarding unfair trade practices and non-reciprocal trade arrangements on a country-by-country basis. The information provided will be used by the USTR in its report to the President, which is due on April 1, and will also inform future actions to address any harm to the United...
01
Mar
The Ministry for Foreign Affairs is continuing to strengthen the network of Finnish missions abroad by opening a third Consulate General in the United States. The new Consulate General will be located in Houston, Texas.
Finland currently has three foreign missions in the United States: the Embassy of Finland in Washington, D.C., and Consulates General in New York on the East Coast and Los Angeles on the West Coast. The Consulate General in Houston is scheduled to start its operations...
28
Feb
EU unveils €100 billion Clean Industrial Deal to boost green competitiveness
On Wednesday, 26 February, the European Commission announced its plan for EU competitiveness and decarbonisation through the Clean Industrial Deal. The strategy comes in response to increased competition from China and the U.S. with EU officials claiming that Europe can win on green technology.
There will be €100 billion in short-term relief to increase green manufacturing in the EU. The goal is to help traditional industries cut carbon emissions and boost...
27
Feb
On February 21, 2025, President Trump issued the America First Investment Policy Memorandum (“Memorandum”). The Memorandum aims to promote foreign direct investment (FDI) from “allies and partners” while restricting inbound investment from and outbound investment to “foreign adversaries,” such as China (including Hong Kong and Macau), Cuba, Iran, North Korea, Russia, and the Nicolás Maduro regime in Venezuela.
To achieve its FDI aims, the Memorandum requests a review of various Committee on Foreign Investment into the United States (CFIUS) procedures, limits the...
27
Feb
Well, that was unexpected. With some 3 million 20-foot-equivalent units (TEU) in new capacity poised to come online in 2024, after 3 years of controlled capital spending, carriers went into the year anticipating a reversion to the chronic overcapacity that has long weighed on the industry’s profitability.
But market fundamentals changed drastically in November 2023, when Houthi rebels in Yemen launched a campaign of attacks on Red Sea shipping. Virtually overnight, 7-8% of global capacity was diverted as Red Sea...
27
Feb
TUPE regulations impose strict responsibilities and obligations on both the transferor (outgoing employer) and the transferee (incoming employer). Our Employment Law & Benefits team reviews the key aspects of TUPE and shares practical tips to help employers stay compliant.
What you need to know
The law governing the transfer of undertakings (TUPE) is complex and involves a number of obligations for both the transferor and transferee.
Transferors and transferees must engage in a statutory information and consultation process with representatives...
26
Feb
Executive summary
Elevated interest rates helped push Chapter 11 bankruptcy filings to their highest level in eight years in 2024 and we expect the high volume of restructurings to continue through the first half of 2025.
Over the last two years, higher borrowing costs eroded capital and liquidity from many companies. The Federal Reserve’s pivot in the back half of 2024 likely came too late for some of those companies. We’re also seeing signs of softening consumer spending, especially in sectors such as...
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