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TRANSATLANTIC NEWS

Chapter News, News

European Commission | Google Fined €890 Million for Breaches of the Digital Markets Act

The European Commission took two decisions finding non-compliance by Google with the Digital Markets Act (DMA) for self-preferencing its own services on Google Search, and for putting in place restrictions on businesses to direct consumers to alternative, often cheaper, purchase channels on Google Play (steering). In this regard, the Commission issued Google a fine of €460 million and a fine of €430 million respectively.   Self-preferencing on Google Search Under the DMA, gatekeepers must not treat their own services more favourably in...
Chapter News, News

ECB | Energy shock: Why Oil and Gas Prices Have Risen Less Than Expected

The ECB Blog | Why have energy prices risen less during the Iran war than after Russia’s invasion of Ukraine? This ECB Blog post compares the two episodes and explains the role of market buffers, demand and competition for LNG shipments. The wars in Ukraine and Iran have both led to significant energy shocks and, as a result, rising energy prices. Yet the two shocks differ markedly in terms of both scale and market impact. Most notably, although the disruptions to...
Chapter News, News

OECD | Corporate Tax Revenues Remain Elevated While Tax Rates Stabilise, According to New OECD Data

Corporate income tax (CIT) revenues remained at historically high levels in 2023, while corporate tax rates have broadly stablised, according to the 2026 edition of OECD Corporate Tax Statistics released today. Across 135 jurisdictions for which data is available, CIT revenues accounted for 17.3% of total tax revenues and 3.5% of GDP on average. While slightly lower than in 2022, these levels remain above pre-pandemic levels and earlier historical peaks. Corporate tax revenues continue to represent an important source of public finances, particularly...
Chapter News, News

IMF | How Central Banks Can Contain Financial Stability Risks as AI Accelerates Change

IMF Blog post | Stronger oversight, better data, and deeper coordination are needed to safeguard faster and more interconnected markets Artificial intelligence is reshaping how financial firms price risk, allocate credit, and respond to stress. It is increasingly embedded in the decision‑making architecture of the financial system. For central banks and financial supervisors, the key challenge is ensuring that AI is governed in ways that reinforce, rather than undermine, financial stability. Three priorities stand out: Strengthen oversight and governance of AI‑driven...
Chapter News, News

European Commission Publishes Guidelines on Transparency Obligations for Providers and Deployers of Certain AI Systems

Today, the European Commission published guidelines to assist providers and deployers of artificial intelligence (AI) systems in meeting the AI Act's transparency obligations, which start to apply on 2 August 2026. Transparency obligations will help people recognise when they are interacting with AI or when content has been generated or altered by AI, reducing the risk of deception and manipulation. The guidelines published today clarify which providers and deployers must comply with the transparency obligations for interactive AI systems and...
Chapter News, News, Trade & TTIP Related

U.S. Department of Justice | Trade Fraud Task Force Surpasses $1 Billion in Recoveries and Charged Losses in Less Than One Year

Enforcement Milestone Marks Strategic Pivot from Administrative Fines to Criminal and Civil Accountability Across the Global Supply Chain The Department of Justice announced today that the Trade Fraud Task Force (TFTF), launched in August 2025, with the Department of Homeland Security (DHS) has surpassed $1 billion in civil and criminal recoveries, penalties, forfeitures, and publicly charged losses in less than one year This milestone reflects a fundamental shift in the federal government’s approach to customs and trade enforcement, emphasizing rigorous...

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    WEBINAR | Trepp Market Pulse

    Hosted by TREPP | Want to know what Trepp is watching in the markets and how it may impact commercial real estate (CRE)? Register now for their Market Pulse Webinar.

      MEMBER NEWS

      Member News, News, Trade & TTIP Related

      Gunnercooke | 60 economies, 1 night’s notice

      How USTR’s forced labor Section 301 tariffs impact entry filers If you went home Thursday evening with a clean entry-summary queue, you came back Friday to a different tariff schedule. Overview On Friday, July 24, 2026, the U.S. Trade Representative’s final action took effect for 60 parallel investigations under Section 301 of the Trade Act of 1974. The theory of the case was unusual, as USTR targeted the failure of each trading partner to impose and effectively enforce its own ban...
      Member News, New York Related News, News

      Cresa | Manhattan Office Market Report: Leasing Activity and Rent Trends for Q2 2026

      HIGHLIGHTS » Availability continued to tighten, falling 50 basis points (bps) quarterover-quarter to a six-year low of 15.0%. » Leasing activity totaled 10.8 million square feet (msf) in Q2 2026, down 6.8% from the prior quarter. Despite the quarterly decline, first-half transaction volume reached its highest level since 2014. » Legal services led Q2 leasing activity, accounting for 29.8% of total volume. » Simpson Thacher’s commitment to the full office component at 570 Fifth Avenue, following American Express’s 2.0-million-square-foot commitment at 2 World...
      Member News, News, Trade & TTIP Related

      Jaguar Freight | Just When You Thought Things Might Get Better

      In this week’s Roar: Many new tariffs, a glimmer of stability for global ocean routes, a drop in air cargo volumes, oil prices on the rise again, and how industry leaders can avoid common AI pitfalls. U.S. tariff actions are spiking again. Friday, as Section 122 tariffs expired, new duties of up to 12.5% were slapped on 60 trading partners that account for 99% of U.S. imports. The new Section 301 tariffs are justified as part of policy related to a U.S. forced...
      Member News, News

      Stephenson Harwood | The “Digital Omnibus” on AI: Ten Key Takeaways

      On 27 July 2026, the agreed final text of the Digital Omnibus on AI (the “Digital Omnibus on AI”) entered into force, following its publication in the Official Journal of the European Union. Originally proposed by the European Commission (“Commission”) in November 2025 (the “Proposal”), and subject to multiple rounds of trilogue negotiations in April and May 2026, the European Parliament (“Parliament”) and Council of the European Union (“Council”) reached a provisional political agreement to amend and streamline the EU...
      Member News, News

      OCO Global | Remembering the 2025 Tariff Wars: What Capital Did Next

      Early investment data suggest trade uncertainty is changing the scale and character of investment into the US, even as project numbers remain broadly stable. Early 2025 already feels like a foreign country: familiar enough to recognise, strange enough to need explaining. For a few months, tariffs were everywhere. Steel. Aluminium. Reciprocal tariffs. Trade deficits. And, of course, “Liberation Day”. Washington argued that exemptions had weakened domestic industry and left critical supply chains exposed. Europe warned of higher costs, disruption and retaliation. In...
      Member News, News, Trade & TTIP Related

      Troutman Pepper Locke | Carrots and Sticks: Aluminum Tariff Breaks and Tougher Defense Sourcing Rules

      Key Points President Trump’s July 20, 2026, proclamation allows companies that commit to building or expanding U.S. primary aluminum facilities to import a matching quantity of primary aluminum at half the otherwise-applicable Section 232 duty rate. The aluminum onshoring incentive does not reduce Section 232 rates generally — benefits are firm-specific and quantity-limited, and construction on qualifying facilities must begin by January 20, 2029. A companion executive order requires the Secretary of Defense/War and military department secretaries to cease...

      Latest & Leading

      New Micropodcast Series: What’s Happening Across the Atlantic

      The EACCNY is happy to announce the launch of its “What’s Happening Across the Atlantic” series, an initiative that aims to offer our members and wider audience hands-on updates on current affairs and policy developments on both sides of the pond. In these 3-5 minute segments, EU and US policy makers and experts along with a select group of EACCNY members will answer a single timely question: What’s Happening Across the Atlantic” focusing on a specific topic that is relevant to our audience.

      Member Spotlight

      For more than 50 years, Wilson Sonsini Goodrich & Rosati has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leader in the fields of corporate governance and finance, mergers and acquisitions, private equity, securities litigation, employment law, intellectual property, and antitrust, among many other areas of law. With deep roots in Silicon Valley, Wilson Sonsini Goodrich & Rosati has offices in Austin; Beijing; Boston; Brussels; Hong Kong; Los Angeles; New York; Palo Alto; San Diego; San Francisco; Seattle; Shanghai; Washington, D.C.; and Wilmington, DE.

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      EACCNY in Numbers

      Other EACC Chapters

      EACCNY Presidential Circle and Platinum Members

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