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Transatlantic News
Transatlantic News
11
Jun
The conflict in the Middle East is expected to slow global growth to the lowest rate since the onset of the COVID-19 pandemic amid higher energy prices, steeper inflation, and increased borrowing costs , according to the World Bank Group’s latest Global Economic Prospects report.
Global growth is forecast to slow to 2.5% in 2026, down from 2.9% in 2025. Forecasts for two-thirds of economies have been downgraded relative to January of this year. Global growth is expected to improve to 2.8%...
10
Jun
Blog | The current energy shock is significant and global, but it is also hitting a euro area economy that is more balanced than when Russia invaded Ukraine in early 2022. History and analysis show that context matters a lot for how shocks propagate to inflation.
Energy prices have risen sharply since early 2026 when war broke out again in the Middle East and the Strait of Hormuz was closed. This big uptick in energy inflation has in turn driven...
09
Jun
How new economics tools explain global power dynamics
Throughout history, powerful nations have used economic leverage to bend others to their will. Florence’s Medici banking dynasty shaped Renaissance politics with its financial dominance, and imperial Britain used trade dominance to bind its empire together and wield power across the globe. Today, the United States freezes access to financial markets or urges its allies to impose export controls on essential technologies, and China threatens restrictions on rare earths to expand its...
08
Jun
Global steel excess capacity continues to grow, driven by increasing subsidies in some major non-OECD steel-producing economies, while efforts to restore fair competition are increasingly undermined by circumvention of trade measures aimed at levelling the playing field, according to a new OECD report.
The OECD Steel Outlook 2026 projects global steel excess capacity to reach 745 million tonnes by 2028, exceeding the OECD’s current steel production by 319 million tonnes. Planned capacity additions of up to 139 million tonnes through 2028 represent...
08
Jun
The Council today adopted a regulation establishing a new framework to protect the EU steel market from the negative trade-related effects of global overcapacity, as outlined in the Steel and Metals Action Plan of 2025. The new rules will replace the current EU steel safeguard measure, which expires on 30 June 2026, ensuring continued protection for the EU steel sector.
" Steel is indispensable to Europe's industrial base, its green transition and its security. With today's adoption, the EU is putting...
05
Jun
Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Goldman Sachs European Financials Conference 2026
Thank you for inviting me to speak today.
Europe is facing a set of unprecedented challenges.
The geopolitical environment is becoming increasingly fragmented. Europe remains overly dependent on external providers for energy, technology, security and key financial infrastructures such as payment systems and capital markets. Reducing these dependencies is no longer a...
04
Jun
Geopolitical rivalry does not end the need for trade cooperation, but the multilateral system must adapt.
For decades, the global economy rested on the premise that international trade was beneficial despite geopolitical differences. The rules of the multilateral trading system, established with the General Agreement on Tariffs and Trade (GATT) in 1947 and embedded in the World Trade Organization (WTO) in 1995, were crafted for a world where governments rarely used trade to achieve geopolitical goals. That world is now...
04
Jun
BOLSTERING DOMESTIC MANUFACTURING OF STRATEGIC METALS: Today, President Donald J. Trump signed a Proclamation adjusting certain metals tariffs to more effectively address national security threats, spur investment in American agriculture, housing, and manufacturing, and facilitate U.S. production of related products.
The Proclamation adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25% to 15%.
The Proclamation also expands the existing category of industrial equipment subject to a 15% tariff to include mobile...
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