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Recent Editions
Risk Channel
North America
The refund system set up by U.S. Customs and Border Protection to enable companies to recover illegally collected tariffs from the U.S. government went live on Monday. U.S. importers, including Target and Walmart, are due more than $160bn in refunds following the Supreme Court's decision ruling the tariffs unlawful in February. CNBC nevertheless notes that trade lawyers are warning of bureaucratic hurdles, legal vulnerabilities, and the possibility of a last-minute appeal by the Trump administration. ″[Importers] are pessimistic that the government is going to make this easy. They’re anticipating that the government is going to make it as difficult as possible to get their money back,” said trade attorney Matthew Seligman, principal at Grayhawk Law.
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Risk Channel
UK/Europe
The European Union is to propose measures to “optimise” jet fuel distribution among member states and help source alternative supplies. The European Commission, the bloc’s executive arm, will announce today that it will propose these measures as early as next month. The commission will issue guidance outlining flexibilities in existing legislation concerning areas such as airport slots and the consequences of flight cancellations should there be fuel shortages. Its plan also aims to make the EU more resistant to future price shocks and includes a push to electrify the economy to lessen dependence on imported fossil fuels.
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