Trade & Export

EU Commission Proposes Industrial Accelerator Act

The European Commission has proposed the Industrial Accelerator Act (IAA) to bolster the EU's industrial base, aiming to increase manufacturing's GDP share to 20% by 2035. The act targets challenges like high energy costs and regulatory hurdles, seeking to enhance resilience and strategic autonomy.

US and Mexico Coordinate Sanctions on Cartel Timeshare Fraud

The US Treasury's OFAC and Mexico's SHCP have coordinated sanctions against five individuals and 19 entities involved in timeshare fraud linked to the CJNG cartel. This action builds on previous designations and aims to combat cartel-linked financial crimes.

US Directs Dismantling of Criminal Cartels in Western Hemisphere

The US government has issued an executive order directing federal agencies to dismantle criminal cartels and transnational gangs operating in the Western Hemisphere. The order mandates coordination with allied governments, military training for partner nations, and the use of all legal authorities to counter cartel-driven violence and corruption.

OECD Releases AI Due Diligence Guidance for Multinationals

The OECD has published new Due Diligence Guidance for Responsible AI, aimed at multinational enterprises involved in the AI value chain. This guidance complements existing OECD guidelines and aims to assist companies in implementing responsible AI practices and human rights policies.

Omnibus I Directive Amends EU Sustainability Reporting and Due Diligence

The EU's Omnibus I Directive, amending the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD), has been published in the Official Journal. This directive aims to streamline sustainability reporting and due diligence obligations for businesses operating within the EU.

EU Proposes Industrial Accelerator Act for Public Procurement and Funding

The European Commission has proposed the Industrial Accelerator Act (IAA), which would introduce EU origin and low-carbon content requirements for public procurement and public funding. The proposal aims to boost the EU's manufacturing share and includes conditions for foreign direct investments in key sectors.

Macroeconomic Dialogue with Social Partners on AI and Labour Market

The Council of the EU, European Central Bank, European Commission, and Eurogroup met with European social partners on March 9, 2026, to discuss the economic situation and the impact of Artificial Intelligence on the EU labour market. The dialogue focused on safeguarding EU competitiveness and social cohesion amidst geopolitical tensions and economic uncertainties.

Council Recommendation on Tackling Skills Shortages

The Council of the EU has adopted a recommendation to help member states tackle labour and skills shortages in strategic sectors. This non-binding guidance aims to boost competitiveness and resilience by investing in people's knowledge and skills, addressing challenges in areas like digital technologies, health, and farming.

Council Calls for Greater Efforts to Combat Child Poverty

The Council of the EU has adopted conclusions calling for increased support to combat child poverty and enhance child well-being. The conclusions emphasize the economic benefits of investing in children and urge member states and the Commission to ensure adequate funding and targeted policies, aiming for five million fewer children at risk of poverty or social exclusion by 2030.

Eurogroup Meeting Remarks on Macroeconomic Developments and Middle East Crisis

Remarks following the Eurogroup meeting on March 9, 2026, addressed macroeconomic developments, the impact of the Middle East crisis on energy markets and inflation, and the need to accelerate the energy transition and strengthen Europe's strategic autonomy. The meeting also endorsed Belgium's draft budgetary plan for 2026.