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Member News
Member News
24
Jan
The European Stability Mechanism (ESM) and the European Investment Bank (EIB) signed today a Memorandum of Understanding (MoU). Its overall aim is to further strengthen and enhance the bilateral partnership and collaboration between both institutions, and to develop, consolidate, and define their mutual cooperation.
“The Memorandum of Understanding signed today opens a new chapter in our collaborative framework. It builds upon the ongoing partnership since the early days of the EFSF in 2010, when the EIB provided valuable support in...
24
Jan
Donald Tusk revealed Polish Presidency priorities with focus on defence
Polish Prime Minister Donald Tusk addressed MEPs in Strasbourg on Wednesday (22 January), presenting Poland’s agenda for its six-month presidency of the EU Council. Under the slogan of ‘Security, Europe!’, Tusk outlined defence as the paramount theme in the EU for the next six months, given an increasingly volatile global landscape, while also touching on migration, energy, and economic resilience.
Defence
Mr. Tusk highlighted the unprecedented challenges facing the EU, urging a...
23
Jan
By Erik Smithweiss | U.S. Customs and Border Protection (CBP) has recently issued two proposed amendments to the regulations governing the clearance of “de minimis” shipments. Under Section 321 of the Tariff Act, good valued at $800 or less (and gifts under $100) per shipment may enter the U.S. without payment of customs duties.
The first proposed amendment, titled “Entry of Low-Value Shipments” (ELVS), would establish a dual-track entry process for de minimis shipments. This proposal would create an “enhanced” entry...
23
Jan
What happened?
On day one of his Administration, President Trump signed two Executive Orders (presidential directives to the executive branch, having the force of law) signaling a clear change in direction from the Biden Administration on global tax and trade policy. The first takes aim at the OECD’s two pillar project, referred to as the ‘global tax deal,’ and essentially nullifies the US’s agreement to the project. The second is a series of directions to implement ‘America First Trade Policy.’...
22
Jan
Since 2018, the United States has imposed and maintained nearly $80 billion in new tariffs. Importers seeking to minimize the impact of elevated tariffs have few tools available to them. However, one such tool is the “first-sale” method of appraisement.
Utilizing the first sale method of appraisement, GDLSK recently helped one client save more than $20 million. Companies in virtually any industry can take advantage of the first-sale rule and GDLSK can advise whether it can work and how it...
22
Jan
On 19 December 2024, Luxembourg adopted Blockchain Law IV, which has opened up significant new opportunities to use the Luxembourg DLT framework, such as expanding this framework to include unlisted equity securities and facilitating the provision of services to issuers with additional flexibility in terms of custody arrangements. These innovations aim to encourage the financial industry to make use of blockchain and DLT in Luxembourg.
1. Background
In tune with its strategy of fostering innovation and digitalisation in the financial sector,...
22
Jan
With President Trump officially back in office, the outlook for global supply chains has started to take shape—though many questions remain.
While the President’s first day did not bring any immediate tariff announcements, an official memorandum (available to view here) has been issued by the White House, detailing potential actions the United States may take under existing laws to combat what are considered unfair trade practices and other barriers to U.S. commerce.
The President has instructed agency leaders to review and submit...
21
Jan
In an unpredictable switch, e-commerce volumes have nosedived—and airfreight rates have followed. They’ve dropped by 40% since December. This is mostly led by a mix of retail surpluses and companies front-loading ahead of threatened US tariff changes. Also pushing rates down is intense competition between Chinese carriers on China-Europe routes. European airlines are struggling with strong inbound but weaker outbound volumes. And in the UK, while the currency exchange is increasing airfreight costs, a decrease in volumes from China is...
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