Bankinter | The European Commission (EC) is to reinforce the steel safeguard clause, as of 1st April. The EC will reinforce steel safeguard measures as of 1st April to ensure their effectiveness, in response to the tariffs established by the United States on 12th March (25% on all steel and aluminium imports). The EC is working on a new long-term safeguard clause to maintain ‘highly effective protection’ for the sector,…

Banca March : The armed conflict between Hamas and Israel has been joined by the sabotage of the Baltic pipeline earlier this month (after the existence of an “external force” was confirmed). While the Commission warns of no negative effects at present, the list of events prolongs the threat to gas supply for the winter. The gas price cap in question, which is triggered if the Dutch TTF index reaches…

Banca March : The European Commission (EC) has identified four technology sectors to limit exports to. The European Union considers the overdependence of semiconductors, artificial intelligence (AI), quantum computing and biotechnology on exports to be a potential risk to the European economy. It therefore calls for unity among the 27 member states before taking action. Manoeuvres could include encouraging investment in these areas, collaboration between countries and export restrictions. Currently,…

Bankinter: It is only a recommendation because fiscal policy is the competence of each member state, but it has consequences on inflation, monetary policy and bonds. The EC relaxed the Fiscal Deficit and Public Debt targets due to the CV19 pandemic (2020) and the Russian invasion of Ukraine (February 2022), but for months it has been insisting on the need to return to fiscal discipline in 2024. The key date…

BancaMarch| Brussels is asking EU countries for €16 billion as a prelude to the European corporate tax. According to Expansión, the European Commission will require EU countries to make a temporary contribution of 0.5% of their companies’ profits from 2024 and until they agree on a common tax on companies to replace it. The aim of the measure is to strengthen the EU’s coffers in order to be able to…