Transatlantic News

Transatlantic News

Chapter News

EU strengthens protection against economic coercion

The European Commission has today proposed a new tool to counter the use of economic coercion by third countries. This legal instrument is in response to the EU and its Member States becoming the target of deliberate economic pressure in recent years. It strengthens the EU's toolbox and will allow the EU to better defend itself on the global stage. The aim is to deter countries from restricting or threatening to restrict trade or investment to bring about a change of policy...
Chapter News

IMF | Metals Demand From Energy Transition May Top Current Global Supply

Firm, market, and country level factors may weigh on metals production under a net-zero scenario. The clean energy transition needed to avoid the worst effects of climate change could unleash unprecedented metals demand in coming decades, requiring as much as 3 billion tons. A typical electric vehicle battery pack, for example, needs around 8 kilograms (18 pounds) of lithium, 35 kilograms of nickel, 20 kilograms of manganese and 14 kilograms of cobalt, while charging stations require substantial amounts of copper. For...
Chapter News

New rules on VAT rates offer Member States more flexibility while supporting the EU’s green, digital and public health priorities

The Commission welcomes the agreement reached by EU finance ministers today to update the current rules governing value-added tax (VAT) rates for goods and services. These new rules will provide governments with more flexibility in the rates they can apply and ensure equal treatment between EU Member States. At the same time, the updated legislation will bring VAT rules into line with common EU priorities such as fighting climate change, supporting digitalisation and protecting public health. The European Parliament...
Chapter News

IMF | The G20 Common Framework for Debt Treatments Must Be Stepped Up

With the debt service suspension initiative expiring and interest rates poised to rise, low-income countries will find it increasingly difficult to service their debts. Despite significant relief measures brought on by the COVID-19 crisis, about 60 percent of low-income countries are at high risk or already in debt distress. In 2015 that number was below 30 percent. 'With policy space tightening for highly indebted countries, the framework can and must deliver more quickly.' For many of these countries, the challenges are mounting....
Chapter News, Trade & TTIP Related

EU and WTO members strike major deal to simplify trade in services

A group of 67 World Trade Organization (WTO) members, including the EU, have today concluded negotiations on a landmark agreement to cut red tape in services trade. The so-called Joint Initiative on Services Domestic Regulation will simplify unnecessarily complicated regulations and ease procedural hurdles faced by SMEs in particular. This agreement will help reduce the costs of global services trade by more than USD 150 billion every year. This is the first WTO deliverable in the area of trade in...
Chapter News

IMF | Addressing Inflation Pressures Amid an Enduring Pandemic

With inflationary pressures intensifying and Omicron generating new uncertainties, monetary policymakers are facing new and challenging tradeoffs. The resurgence of the pandemic and the latest variant, Omicron, have sharply increased uncertainty around global economic prospects. This comes as several countries grapple with inflation well above their monetary policy targets. It is however evident that the strength of the economic recovery and magnitude of underlying inflationary pressures vary significantly across countries. Accordingly, policy responses to rising prices must be calibrated to...
Chapter News

Modernising judicial cooperation: EU Commission paves the way for further digitalisation of EU justice systems

Today, the European Commission has adopted several initiatives to digitalise EU justice systems, making them more accessible and effective. The overarching aim of the measures is to make digital communication channels the default channel in cross-border judicial cases, thus translating one of the priorities set out in last year's Communication on the Digitalisation of Justice into action. In the EU's internal market today, many legal disputes between citizens and businesses take place across borders. Also, to fight cross-border crime more effectively, different Member...
Chapter News

Global Gateway: up to €300 billion for the European Union’s strategy to boost sustainable links around the world

Today, the European Commission and the High Representative for Foreign Affairs and Security Policy launch the Global Gateway, the new European Strategy to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world. It stands for sustainable and trusted connections that work for people and the planet, to tackle the most pressing global challenges, from climate change and protecting the environment, to improving health security and boosting competitiveness...

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