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The infographic illustrates the economic development in the United States in comparison with the EU economy in the past decade. Besides showing strong economic recovery capacity in both regions, it gives an insight into economic phenomena, such as rising inflation and growing public debt - unfavourable trends that started before 2022, a year marked by war in Europe. It also portrays trade relations between the two blocs, which, despite having suffered during the COVID-19 pandemic, grew to record ...

The coexistence of 27 different national tax systems in the European Union brings about significant obstacles to cross border business activity in the European Single Market. The objective of this study is to show the context and developments in European secondary law that have led to the current situation or, at least, have not yet resolved it. In addition, perspectives are shown as to how the described obstacles to cross border investment in the Internal Market can be countered both in the short ...

This study examines the problem of Missing Trader Intra-Community (MTIC) Fraud, the nature and scale of its impact on the EU’s finances, and potential solutions. The solutions that are assessed are: Split Payment Methods, Electronic Clearance Procedure (a digital solution), Real-Time Reporting (and TX++), VAT Coin, and the Definitive VAT system (and proposed amendments). Recommendations are made regarding the most appropriate solution.

Proposed anti-coercion instrument

Briefing 16-06-2022

It is widely held that geopolitical tensions in the world are on the rise. One of the clear indicators of this phenomenon is the increasing use of economic tools for the pursuit of strategic and geopolitical aims. This can take the form of coercion used by one country against another through restrictions on trade or investment in order to interfere with their sovereign choices. In response to the EU and its Member States becoming the target of deliberate economic coercion in recent years, on 8 December ...

In the first year of the 117th US Congress (2021-2022), members of both the House and the Senate saw an urgent need both for a trade policy offensive specifically for the Indo-Pacific region to maintain US leadership in setting international standards and norms, and for an upgrade of defensive trade policy tools to address China's unfair trade practices. Congressional initiatives have coincided with debates in the European Parliament on the EU's Indo-Pacific strategy and on legislative proposals ...

The Lisbon Treaty entered into force in 2009, providing the European Union (EU) with exclusive competence in the area of 'direct investment', as part of the common commercial policy. This covers the conclusion of international investment agreements (IIAs), which typically aim to protect and/or liberalise foreign direct investment. Since then, the EU has ratified protection IIAs (or provisions in trade agreements) with Canada, Singapore and Vietnam. Early on, concerns were raised as to the specific ...

Following the EU-India summit in May 2021, talks on both an EU-India trade and an investment agreement have resumed. This analysis provides background on where EU-India economic relations stand and why it is important to maintain momentum following this breakthrough, despite a somewhat unpromising domestic political environment in India. This new impetus largely reflects a transformed geopolitical landscape since the last round of EU-India talks were abandoned in 2013. The increased tension between ...

In mid-June 2021, United States (US) President Joe Biden is due to visit Europe for his first overseas trip since taking office in January. He will attend the Group of Seven (G7) summit from 11 to 13 June in Cornwall (United Kingdom), a NATO leaders' summit in Brussels on 14 June, followed by an EU-US summit on 15 June, and, on 16 June, a summit in Geneva (Switzerland) with Russian President Vladimir Putin. President Biden's arrival in Europe will mark almost five months in office, providing an opportunity ...

The United Kingdom (UK) left the European Union (EU) on 1 February 2020 and will regain competence for its own international trade policy as soon as the transition period concludes at the end of 2020. Freedom to determine its own trade relationships was a major reason for the UK's withdrawal from the EU: its new international trade policy is based on the goal of establishing 'global Britain', a country asserting that it is strongly committed to trade openness with international leadership. To this ...

Recent US measures directed against Iran, Cuba and Russia (North Stream 2) have become indirectly a critical challenge for the European Union as well. As they purport to deter economic actors under EU jurisdiction from engaging with target countries, they have an important extraterritorial dimension, which affects EU business and individuals and ultimately the sovereignty of the EU and its Member States. A review of the existing sanction regimes and of the geopolitical context reveals that other ...