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Transatlantic News
Transatlantic News
31
Jul
By Vladimir Klyuev and James Tebrake
The updated System of National Accounts better captures digitalization, intangible assets, and global production—helping governments support growth, jobs, and investment
The cornerstones of our digital world—from smartphone apps to new digital assets and artificial intelligence tools—didn’t exist back in 2008, the last time the world’s statistical community overhauled its approach to standardizing how countries measure the economy.
Now, an updated System of National Accounts—the global standard for producing measures of economic activity—more fully incorporates emerging technologies, digital...
31
Jul
By Niccolò Battistini and Johannes Gareis
Monetary policy has an impact on our daily lives. This post explores the ripple effects of the ECB’s recent monetary policy on housing affordability, housing sales and households’ home goods consumption.
Monetary policy decisions affect the economy by influencing how much people can afford, invest and consume. The housing market is an important channel for this: changes in monetary policy affect mortgage interest rates, which in turn affect housing sales. However, since buying a home...
30
Jul
Global trade developments continue to shape the outlook.
Following an unprecedented escalation in tariffs imposed on the rest of the world in April, the United States partly reversed course, pausing the higher tariffs for most of its trading partners. This, and a de-escalation of trade tensions with China in May, modestly reduced the US effective tariff rate from 24% to about 17%.
Despite these welcome developments, tariffs remain historically high, and global policy remains highly uncertain, with only a few countries...
30
Jul
By Lukas Boeckelmann, Lorenz Emter, Vanessa Gunnella, Karin Klieber and Tajda Spital
With trade tensions between China and the United States reaching new heights, Chinese exports may be redirected to the euro area. In a severe scenario, this additional supply and the accompanying lower import prices could bring down euro area inflation by as much as 0.15 percentage points.
The United States has imposed tariffs on many trading partners, with China being hit particularly hard. Hamstrung by higher US tariffs, Chinese...
29
Jul
Stablecoins are reshaping global finance – with the US dollar at the helm. Without a strategic response, European monetary sovereignty and financial stability could erode. However, in this disruption there is also an opportunity for the euro to emerge stronger.
Stablecoins are reshaping global finance – with the US dollar at the helm. Without a strategic response, European monetary sovereignty and financial stability could erode. However, in this disruption there is also an opportunity for the euro to emerge stronger....
29
Jul
On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and trade.
The transatlantic partnership is a key artery of global trade and is the most significant bilateral trade and investment relationship in the world. EU-US trade in goods and services has doubled over the last decade, surpassing €1.6 trillion in 2024, with €867 billion of trade in goods and €817 billion of trade in services. That is over €4.2 billion of goods and services crossing the Atlantic every...
28
Jul
We have reached a deal on tariffs and trade with the US.
Today's deal creates certainty in uncertain times. It delivers stability and predictability, for citizens and businesses on both sides of the Atlantic. This is a deal between the two largest economies in the world. We trade USD 1.7 trillion per year. Together we are a market of 800 million people. And we are nearly 44% of global GDP. Just a few weeks after the NATO summit, this is...
25
Jul
By Othman Bouabdallah, Ettore Dorrucci, Carolin Nerlich, Christiane Nickel and Aurelian Vlad
Following the June NATO summit, Europe is confronting heightened challenges in financing its green, digital and defence transitions as new defence commitments place increased pressure on national and EU budgets. Balancing strategic priorities with debt sustainability is crucial. This blog outlines a three-pronged strategy: (i) relying on existing fiscal mechanisms; (ii) additional fiscal measures at the national level; and (iii) fostering a more cohesive and productive Europe.
Europe is facing...
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