1696

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US tariffs: EU response and fears of a trade war

21-06-2018

On 1 June 2018, US tariffs entered into force for steel and aluminium imports from the EU, Canada and Mexico, following US President Donald Trump's decision not to extend temporary exemptions. Argentina, Australia, Brazil and South Korea managed to obtain permanent exemptions as a result of deals struck with the Trump Administration. For all other countries, the US tariffs had already taken effect at the end of March 2018. After talks with the Trump Administration failed to result in a permanent ...

On 1 June 2018, US tariffs entered into force for steel and aluminium imports from the EU, Canada and Mexico, following US President Donald Trump's decision not to extend temporary exemptions. Argentina, Australia, Brazil and South Korea managed to obtain permanent exemptions as a result of deals struck with the Trump Administration. For all other countries, the US tariffs had already taken effect at the end of March 2018. After talks with the Trump Administration failed to result in a permanent exemption, the EU responded to the new tariffs by lodging a complaint at the WTO and instituting rebalancing measures on specific US exports. A safeguard investigation on steel imports into the EU is also on-going. Other US trading partners have responded in similar ways, raising fears that this could be the start of a full-blown trade war that would harm economic growth.

EU Multiannual Financial Framework [What Think Tanks are thinking]

15-06-2018

The European Commission has made proposals for the new long-term budget and on own resources for the European Union. The Multiannual Financial Framework (MFF) for 2021-2027 is slightly bigger than the current MFF, in constant prices. The budget proposal takes into account the shortfall on the revenue side caused by the UK's withdrawal from the EU, on the one hand, and the growing need to finance new priorities, on the other. The Commission proposes to increase funds for such areas as competitiveness ...

The European Commission has made proposals for the new long-term budget and on own resources for the European Union. The Multiannual Financial Framework (MFF) for 2021-2027 is slightly bigger than the current MFF, in constant prices. The budget proposal takes into account the shortfall on the revenue side caused by the UK's withdrawal from the EU, on the one hand, and the growing need to finance new priorities, on the other. The Commission proposes to increase funds for such areas as competitiveness, migration and security, and to reduce spending on traditional policies, such as cohesion and agriculture. For the first time, the Commission proposes to make the availability of funds dependent on the respect for the rule of law and EU values in recipient countries. This note offers links to a selection of recent commentaries, studies and reports from some of the major international think tanks and research institutes, which discuss the EU's long-term budget and related reforms. More reports on the topics are available in a previous edition of 'What Think Tanks are Thinking', published in March, PE 614.541.

Plenary round-up – Strasbourg, June 2018

15-06-2018

The June plenary session highlights were the continuation of the debate on the future of Europe with the Prime Minister of the Netherlands, Mark Rutte, and the preparation of the European Council meeting of 28 and 29 June 2018. The European Commission and Council participated in discussions on, inter alia, the independence of the judiciary in Poland, humanitarian emergencies in the Mediterranean and solidarity in the EU, and the economic and monetary union package. VP/HR Federica Mogherini's statements ...

The June plenary session highlights were the continuation of the debate on the future of Europe with the Prime Minister of the Netherlands, Mark Rutte, and the preparation of the European Council meeting of 28 and 29 June 2018. The European Commission and Council participated in discussions on, inter alia, the independence of the judiciary in Poland, humanitarian emergencies in the Mediterranean and solidarity in the EU, and the economic and monetary union package. VP/HR Federica Mogherini's statements on the Iran nuclear deal, the annual report on human rights and democracy in the world (2017), and on the Georgian occupied territories ten years after the Russian invasion, were also discussed. Debates followed on the first anniversary of the signature of the Istanbul Convention and on the closure of the ivory market to combat poaching. Parliament approved the proposal to amend the regulation on OTC derivatives, an agreement on common rules in the field of civil aviation, on monitoring and reporting of CO2 emissions and on fuel consumption of heavy-duty vehicles. It approved the final text of a proposed directive on proportionality tests for new national professional regulations. It also approved the new composition of Parliament after 'Brexit', and further macro-financial assistance to Ukraine.

Extending the European Investment Bank's External Lending Mandate to Iran

15-06-2018

The European Commission adopted two delegated decisions designed to counter the effects of United States (US) extraterritorial sanctions against Iran on 6 June 2018. One of the decisions updates Regulation (EC) 2271/96, known as the Blocking Regulation, to prohibit EU companies from complying with the US sanctions against companies investing in, or transacting business with, Iran. The second decision (C(2018) 3730 final) – the subject of this 'At a glance' note – brings Iran within the remit of the ...

The European Commission adopted two delegated decisions designed to counter the effects of United States (US) extraterritorial sanctions against Iran on 6 June 2018. One of the decisions updates Regulation (EC) 2271/96, known as the Blocking Regulation, to prohibit EU companies from complying with the US sanctions against companies investing in, or transacting business with, Iran. The second decision (C(2018) 3730 final) – the subject of this 'At a glance' note – brings Iran within the remit of the European Investment Bank's (EIB) External Lending Mandate (ELM), by adding it to the list of countries outside the EU that are eligible for EIB lending. Both decisions are part of the EU's efforts to protect the Joint Comprehensive Plan of Action (JCPOA) from the repercussions of the unilateral US withdrawal. The JCPOA was agreed between Iran and the E3/EU+3 – France, Germany, the United Kingdom and the EU plus China, Russia and the USA – in 2015, and is designed to ensure the peaceful nature of Iran's nuclear programme.

External Imbalaces in the Euro Area

13-06-2018

The current account balance is one of the indicators used in the Macroeconomic Imbalances Procedure (MIP) to signal a possible external imbalance: it provides information on the economic flows of a Member State with the rest of the world. It is the sum of the balances of trade (in goods and services), primary income (dividends and interests on foreign investments, plus salaries paid to/received by non-residents) and secondary income (remittances to/by foreign workers and contributions to EU institutions ...

The current account balance is one of the indicators used in the Macroeconomic Imbalances Procedure (MIP) to signal a possible external imbalance: it provides information on the economic flows of a Member State with the rest of the world. It is the sum of the balances of trade (in goods and services), primary income (dividends and interests on foreign investments, plus salaries paid to/received by non-residents) and secondary income (remittances to/by foreign workers and contributions to EU institutions). The current accounts balance equals the difference between national savings and investment: catching-up countries often run current account deficits, in view of future growth, while countries with ageing population may decide to save today, i.e. run current account surpluses, to avoid drop of consumption in the future.

FTA negotiations to start with Australia and New Zealand

11-06-2018

On 22 May 2018, the Council authorised the Commission to negotiate free trade agreements (FTAs) with Australia and New Zealand, and adopted the related negotiating directives. The FTAs will mainly focus on further reducing existing trade obstacles, eliminating custom duties on goods, and improving access for services and public procurement in Australia and New Zealand. The first negotiation rounds are expected to take place in July 2018, and the Commission aims to conclude negotiations before the ...

On 22 May 2018, the Council authorised the Commission to negotiate free trade agreements (FTAs) with Australia and New Zealand, and adopted the related negotiating directives. The FTAs will mainly focus on further reducing existing trade obstacles, eliminating custom duties on goods, and improving access for services and public procurement in Australia and New Zealand. The first negotiation rounds are expected to take place in July 2018, and the Commission aims to conclude negotiations before the end of its term in late 2019.

Policy Departments' Monthly Highlights - June 2018

11-06-2018

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Comparison of key figures in the 2018 Stability Programmes and European Commission spring 2018 forecast

08-06-2018

The purpose of this document is to show the differences between some key indicators of the 2018 Stability Programmes (SP) of the Euro Area Member States and the spring 2018 forecast of the European Commission (EC). In accordance with Article 4 of Council Directive 2011/85/EU, the budgetary planning of the Member States “shall be based on the most likely macrofiscal scenario or on a more prudent scenario. (…). Significant dif¬fe¬ren¬ces between the chosen macrofiscal scenario and the (most recent) ...

The purpose of this document is to show the differences between some key indicators of the 2018 Stability Programmes (SP) of the Euro Area Member States and the spring 2018 forecast of the European Commission (EC). In accordance with Article 4 of Council Directive 2011/85/EU, the budgetary planning of the Member States “shall be based on the most likely macrofiscal scenario or on a more prudent scenario. (…). Significant dif¬fe¬ren¬ces between the chosen macrofiscal scenario and the (most recent) Commission’s forecast shall be described with reasoning (…).”

What if technologies shaped the law?

07-06-2018

Is there a relationship between law, technological innovation, and regulatory governance? Are technologies ordinary objects of formal law that can fit into the traditional doctrinal classification? What if technologies were legal artefacts that question and challenge the traditional boundaries of legal thought? Has technology been developed to the extent that it exerts the functions of law? Is there a gradual shift from the traditional notion of "code is law" (i.e. code having the effect of law) ...

Is there a relationship between law, technological innovation, and regulatory governance? Are technologies ordinary objects of formal law that can fit into the traditional doctrinal classification? What if technologies were legal artefacts that question and challenge the traditional boundaries of legal thought? Has technology been developed to the extent that it exerts the functions of law? Is there a gradual shift from the traditional notion of "code is law" (i.e. code having the effect of law) to the new conception of "law is code"?

The 2018 G7 Summit: Issues to watch

07-06-2018

On 8 and 9 June 2018, the leaders of the G7 will meet for the 44th G7 Summit in Charlevoix, Quebec, for the annual summit of the informal grouping of seven of the world's major advanced economies. The summit takes place amidst growing tensions between the US and other G7 countries over security and multilateralism.

On 8 and 9 June 2018, the leaders of the G7 will meet for the 44th G7 Summit in Charlevoix, Quebec, for the annual summit of the informal grouping of seven of the world's major advanced economies. The summit takes place amidst growing tensions between the US and other G7 countries over security and multilateralism.

Upcoming events

25-06-2018
State Aid and EU funding - Are they compatible?
Hearing -
CONT
25-06-2018
HEARING ON THE FACEBOOK/CAMBRIDGE ANALYTICA CASE - Part 2
Hearing -
LIBE
26-06-2018
Espionage in Europe throughout the ages
Other event -
EPRS

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