World news
EU-US Framework Trade Agreement will help make trade cheaper
In August, the European Union and the United States issued a joint statement on a new framework agreement. This is intended to make trade between the two parties easier and cheaper.
CBAM: new obligations for importers
The Carbon Border Adjustment Mechanism (CBAM) is the European Union’s key tool to combat climate change. It aims to eliminate the risk of ‘carbon leakage’ where production is moved to countries with less stringent emission standards. New obligations…
EU: new rules to simplify collection of VAT on imports
The Council of the European Union has adopted new rules to simplify the process of collecting value added tax on imports of goods. The change shifts the obligation to pay VAT on EU imports from the consumer to the supplier. The aim is to encourage…
EU-US trade deal : lower tariffs and cooperation in energy sector
On 27 July, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed on key parameters of future trade relations. This agreement should be the first step in a process that will be further expanded and continue to…
One Big Beutiful Bill
On May 22, the US House of Representatives passed a bill with the unusual title of the One Big Beautiful Bill Act (OBBBA).
Impact of US tariffs
The US government is introducing new tariffs on imported goods, which may increase costs for businesses. In collaboration with our US colleagues, we would like to draw your attention to several aspects that can affect the extent of the tariffs, such…
Effects of tariff changes on transfer prices
The arrival of the new US administration signalled a major turning point in the US approach to international trade. The first months suggest a possible shift away from liberalisation, with tariffs being used to advance US trade interests. For Czech…
EU amends regulation on additional customs duties on US imports
The EU authorities have published in the Official Journal an amendment to the Regulation on additional customs duties on the imports of certain products originating in the United States of America. This is in response to the excessively high…
Travellers to US facing increased border controls
President Donald Trump's January executive orders signalled that US immigration policy and its approach to arriving foreigners will tighten. The practical consequences have not been long in coming. Travellers must prepare for more thorough checks on…
Simplifying ESG rules: reporting and due diligence
The European Commission has presented the Omnibus I (ESG) and Omnibus II (investment) legislative packages, which aim to simplify ESG reporting rules and reduce the administrative burden for businesses. The initiative is part of a broader effort to…
European Union responds to US tariffs with retaliation
Last month, the US administration led by President Donald Trump imposed 25 percent tariffs on steel and aluminium imports from Europe. In response, the European Commission is imposing retaliatory tariffs on a wide range of US goods.
Introduction of digital systems for EU travel delayed
The European Union is working on the introduction of two new digital systems to track and record the travel of foreigners into the Schengen area: the Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS). These…