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Transatlantic News
Transatlantic News
22
May
Blog | Data show that countries are increasingly applying different import tariffs to different trading partners for the same product.
Click here to access the interactive chart
Since the WTO was established in 1995, no new multilateral trade agreement has been reached on import tariffs. Instead, we see a rise in trade policy fragmentation. This is reflected in the chart, where the downward-sloping lines show that non-discriminatory, or Most Favored Nation, tariffs explain a declining share of tariff variation. In other words, countries...
22
May
The Council decided today to suspend for one year customs tariffs on key nitrogen-based fertilisers used in agricultural production in the EU, including fertiliser inputs such as urea and ammonia.
The measure aims to lower costs for EU farmers and fertiliser industry – saving them an estimated €60 million in import duties, according to the European Commission. It will also reduce the EU's dependency on Russia and Belarus for fertiliser products and help build a more diversified trading network in this area.
"Today’s...
21
May
The Spring 2026 Economic Forecast projects weaker economic activity, as the conflict in the Middle East triggers a new energy shock that reignites inflation and shakes economic sentiment.
Before the end of February 2026, the EU economy was set to keep expanding at a moderate pace alongside a further decline in inflation, but the outlook has changed substantially since the outbreak of the conflict. Inflation started picking up a few weeks after the outbreak of the conflict, driven by the sharp increase...
21
May
Corrigendum: In the OECD GDP release published on 21 May 2026, the quarter-on-quarter growth for Italy in the first quarter of 2026 is 0.2%, and not 0.1% as initially published in the last sentence of the second paragraph.
GDP (Gross Domestic Product) growth in the OECD area increased slightly to 0.4% in Q1 2026, up from 0.2% in the previous quarter, according to provisional estimates (Figure 1). This reflects a mixed picture across the 28 OECD countries for which data was...
20
May
Blog | Governments can protect vulnerable households, keep businesses open, and preserve price signals without straining public finances.
When global energy prices spike, governments face an unenviable dilemma: shield people and businesses while straining already reduced room in public budgets—or let prices rise for everyone and risk social and political backlash. So, how can policymakers do the best of both?
To be sure, there is no one-size-fits-all response because the impact of the war in the Middle East differs widely across...
20
May
Today, the Council presidency and the European Parliament reached a provisional agreement on two regulations aimed at implementing the tariff-related aspects of the EU-US Joint Statement, agreed on 21 August 2025.
The agreement marks an important step in delivering on the commitments undertaken in the EU-US Joint Statement. It aims at enhancing a stable and predictable transatlantic trade relationship, while ensuring robust safeguards and preserving flexibility to be able to protect the EU’s economic interests, if needed.
The Joint Statement is expected to serve as a platform to...
19
May
Ambassador Jamieson Greer will host the G20 Trade Ministerial in Milwaukee, Wisconsin from Wednesday, September 30 to Thursday, October 1.
“President Trump’s tariff program is actively rebalancing global trade, reversing decades of non-market policies and practices to protect American workers and businesses,” said Ambassador Greer. “At the G20 Trade Ministerial this fall, USTR will lead discussions with the G20 Trade Ministers on a wide array of issues, including ending forced labor, updating the Most-Favored Nation (MFN) Principle, denouncing weaponization of trade...
19
May
Screening of investments to be mandatory for all member states in sensitive sectors such as defence, financial services and semiconductors
New regulation is crucial to the EU's economic security
Improved cooperation mechanism among Member States and harmonisation of procedures
European Commission to set conditions on foreign investments
On Tuesday, Parliament approved new EU rules for the screening of foreign investments to prevent security risks.
With 508 votes in favour, 64 against and 90 abstentions, MEPs gave their green light to...
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