On June 23, 2023, the Council of the European Union adopted a new, eleventh package of restrictive measures (Package) to ensure that EU sanctions against Russia are better enforced and implemented. The Package is informed by the lessons learned from implementation over the past year. The Package consists, inter alia, of new prohibitions, a
After months of negotiations, the United States and European Union have announced that the national security tariffs imposed by the Trump administration on imports of steel and aluminum will be lifted and replaced with a tariff rate quota (TRQ) system that will allow specified amounts of EU steel and aluminum to enter the U.S.
The European Union is considering implementation of a new carbon policy, the Carbon Border Adjustment Mechanism (CBAM), that could profoundly impact the global import/export market. The CBAM, a carbon-pricing system for imports into the EU, is proposed to be applicable as of Jan. 1, 2023, and would initially only cover products from five sectors.