Search

Global Cartel Fines Surge to $3.3 Billion in 2025

Global cartel fines reached $3.3 billion in 2025, the highest total since 2021, driven primarily by enforcement actions in the European Union. The report highlights significant increases in fines from the European Commission and EU member states, while the US saw its lowest fine total in recent memory.

EU Council President Remarks on Azerbaijan Meeting

European Council President António Costa made press remarks following a meeting with Azerbaijan's President Ilham Aliyev on March 11, 2026. The remarks highlighted strengthened cooperation in security, energy, digital, and transport, and expressed EU solidarity with Azerbaijan amidst regional geopolitical challenges.

Eurogroup President Reports on Euro Area Economy to Euro Summit

The President of the Eurogroup has submitted a report to the President of the Euro Summit detailing the state of the euro area economy and upcoming work priorities. The report covers topics such as international cooperation, the strengthening of the euro's international role, and the acceleration of the savings and investments union.

Eurogroup President Visits Netherlands for Economic Talks

Eurogroup President Kyriakos Pierrakakis visited the Netherlands on March 11, 2026, to discuss macroeconomic conditions and Eurogroup priorities with national authorities, including digital finance and the Savings and Investments Union. Meetings were held with the Dutch Minister of Finance and the President of the Dutch Central Bank.

EU Council President Costa and Azerbaijan President Aliyev Meet

European Council President António Costa met with Azerbaijan President Ilham Aliyev to discuss deepening political dialogue and practical cooperation. The leaders reaffirmed their commitment to a new comprehensive bilateral agreement and highlighted Azerbaijan's role in energy security and regional connectivity.

Press Briefing for Foreign Affairs Council

The Council of the EU announced a press briefing for the Foreign Affairs Council meeting on March 16, 2026. The briefing will be held on March 13, 2026, and is 'off the record'. Journalists must register by March 13, 2026, at 14:00.

EU Council Agrees Negotiating Position on Fisheries and Aquaculture Statistics Framework

The Council of the EU has agreed on a negotiating position for a new regulation on fisheries and aquaculture statistics. This framework aims to modernise data collection, replace five existing regulations, and improve the use of digital technologies. Negotiations with the European Parliament are expected to begin later in 2026.

Sanctions Ordinance Against Taliban-Associated Individuals and Groups

Switzerland has updated its sanctions ordinance against individuals and groups associated with the Taliban, following amendments by the UN sanctions committee. The SESAM database has been updated, and formal corrections were made to existing entries.

Commerce Preliminary Antidumping Duty Findings on Steel Concrete Reinforcing Bar

The U.S. Department of Commerce announced preliminary affirmative antidumping duty findings on steel concrete reinforcing bar from Bulgaria, Egypt, and Vietnam. The preliminary dumping margins range from 34.20% to 121.97% for specific companies and entities. The final determination is expected around July 28, 2026.

Italian SMEs Bill Expands Inventory Financing Securitizations

The Italian Senate approved an annual SMEs Bill on March 4, 2026, amending Law 130 to expand structuring options for inventory financing securitizations. The changes allow for foreign originators and multijurisdiction asset pools, enhancing Italy's position in the international ABS market.

Court Orders Removal of IEEPA Tariffs on U.S. Imports

The U.S. Court of International Trade has ordered the government to remove International Emergency Economic Powers Act (IEEPA) tariffs on U.S. imports, following a Supreme Court decision. U.S. Customs and Border Protection (CBP) indicated it could begin issuing refunds within 45 days, though importers are advised to monitor liquidation entries and file protests.

Section 122 Tariffs Challenged in U.S. Court of International Trade

24 states have filed a lawsuit in the U.S. Court of International Trade challenging the Section 122 tariffs imposed by President Trump on February 20, 2026. The states argue the conditions for invoking Section 122 were not met and the tariffs exceed the statute's scope. This case is expected to be expedited.

Data Brokers Face New Compliance Rules from CalPrivacy and FTC

California and the FTC are implementing new compliance rules for data brokers. California's Delete Request and Opt-out Platform (DROP) mechanism is now active, with data deletion requirements starting August 1, 2026. The FTC has also issued warnings regarding the Protecting Americans' Data from Foreign Adversaries Act (PADFAA).

CNIPA Stops Notifying Local Agents for Madrid Designations

The Chinese National Intellectual Property Administration (CNIPA) has ceased notifying local Chinese trademark agents for international trademarks designating China via the Madrid System. CNIPA now only serves the WIPO-recorded representative or the trademark holder directly, requiring proactive monitoring by rights holders and their representatives to avoid missing response deadlines.

Court of International Trade Pauses IEEPA Refunds

The U.S. Court of International Trade has paused the immediate refund of duties imposed under the International Emergency Economic Powers Act (IEEPA) while leaving the underlying obligation to refund intact. This decision acknowledges practical limitations faced by U.S. Customs and Border Protection (CBP) in processing an estimated $166 billion in refunds for over 330,000 importers.

DOJ Trade Fraud Task Force Revisits FDCA Charges

The DOJ's Trade Fraud Task Force, established six months ago, has announced its leading prosecutorial partner, the U.S. Attorney's Office for the Northern District of Illinois. This move signals an increased focus on enforcing the Federal Food, Drug, and Cosmetic Act (FDCA) in trade fraud cases, building on past successful prosecutions involving honey import schemes.

Iran War Impacts Global Construction Supply Chains

This notice analyzes the global impact of the 2026 Iran War on construction supply chains. The conflict has disrupted critical shipping routes, leading to increased transportation and production costs, delays, and potential surcharges for materials like cement, steel, and aluminum. The analysis highlights the cascading effects on construction projects worldwide.

CIT Suspends IEEPA Duty Refund Order for CBP ACE Functionality

The U.S. Court of International Trade (CIT) has suspended its order requiring immediate refunds of IEEPA duties. This suspension allows U.S. Customs and Border Protection (CBP) time to develop new Automated Commercial Environment (ACE) functionality to process these refunds, estimated to be implemented in 45 days. Importers are advised to complete electronic refund setup and consider filing protests.

EU Ambassadors Conference Speech by President António Costa

President António Costa delivered a speech at the EU Ambassadors Conference on March 10, 2026, emphasizing the importance of a unified EU foreign policy in a multipolar world. He highlighted the need to defend the rules-based international order and address global challenges, including conflicts in Ukraine and the Middle East.

USITC Institutes Section 337 Investigation of Vehicle Parts

The U.S. International Trade Commission (USITC) has instituted a Section 337 investigation based on a complaint by General Motors LLC and GM Global Technology Operations LLC. The investigation concerns alleged infringement of patents related to certain vehicle parts and components thereof.

Sanctions: Ordinance against Iran amended

Switzerland's Federal Department of Economic Affairs amended annexes to the ordinance on measures against the Islamic Republic of Iran, effective March 10, 2026. The content of the list of goods in annex 3 was also completed. These amendments update existing sanctions measures.

UK Sanctions Enforcement: Cross-Government Strategic Approach

The UK government has published its strategic approach to sanctions enforcement, outlining key principles and the roles of various departments. This policy paper emphasizes the importance of strong compliance and details potential consequences for non-compliance.

USITC Finds China Erythritol Imports Injure U.S. Industry

The U.S. International Trade Commission (USITC) has determined that imports of erythritol from China are injuring the U.S. industry. As a result, the U.S. Department of Commerce will issue antidumping and countervailing duty orders on these imports.

DITC Enforcement Guide for Cayman Islands Entities

The Cayman Islands Department for International Tax Cooperation (DITC) has increased its supervisory oversight and enforcement activities. This guide explains DITC enforcement notices, common triggers for non-compliance, and strategies for responding to mitigate penalties and reputational risk for Cayman Islands entities.

US Government Mobilizes War Risk Insurance for Middle East Commerce

The U.S. International Development Finance Corporation (DFC) will offer political risk insurance and guaranty products to stabilize international commerce and support businesses operating in the Middle East. This initiative aims to mitigate disruptions caused by conflict with the Iranian regime and stabilize the war risk insurance market.

OFAC 50 Percent Rule: Ownership Aggregation and Sanctions Compliance

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued guidance clarifying its 50 Percent Rule. This rule treats entities owned 50 percent or more in aggregate by blocked persons as themselves blocked, regardless of whether they are individually listed. The guidance emphasizes the need for sophisticated beneficial ownership tracing beyond simple list screening.

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.

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.

SEC Exempts FPI Directors/Officers from Section 16 Reporting

The SEC issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16 reporting obligations. This exemption applies to FPIs from qualifying jurisdictions with substantially similar regulations and provides relief ahead of the March 18, 2026, reporting deadline.

SEC Exempts FPI Directors and Officers from Section 16 Reporting

The SEC has issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16(a) reporting requirements. This exemption is effective immediately and applies to FPIs incorporated in qualifying jurisdictions with qualifying regulations, ahead of the March 18, 2026 compliance deadline.

Export Control Complexity Grows with Technology and Geopolitics

This article discusses the increasing complexity of export control and sanctions regimes due to technological advancements and geopolitical shifts, using the UK as an example. It highlights that failure to comply with UK export controls can result in severe penalties, including fines and imprisonment.

Importers Eye IEEPA Tariff Refunds After Supreme Court Ruling

Following a Supreme Court ruling that President Trump's IEEPA tariffs were unlawful, importers are seeking refunds. The administration plans to complicate the refund process, leaving the Court of International Trade to handle thousands of cases. The CIT has issued an initial order confirming importers' entitlement to refunds.

Court Orders Refund of Invalidated IEEPA Tariffs

The Court of International Trade (CIT) has ordered U.S. Customs and Border Protection (CBP) to halt liquidation of invalidated IEEPA tariffs and begin unwinding assessed duties. This broad order in Atmus Filtration, Inc. v. United States aims to provide relief to all importers of record, including those who did not file their own refund actions.

Force Majeure in Gulf Construction Contracts Amid Iran Conflict

This client alert from King & Spalding discusses force majeure clauses in Gulf construction contracts in response to the Iran conflict. It outlines typical contractual regimes, legal implications, and provides practical advice for employers and contractors facing supply chain and logistical disruptions.

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.

SEC Adopts Section 16 Reporting Rules for Foreign Private Issuers

The SEC adopted final amendments requiring directors, officers, and 10% owners of foreign private issuers (FPIs) to file beneficial ownership reports on Forms 3, 4, and 5, effective March 18, 2026. The SEC also issued an order granting conditional exemptive relief for certain FPIs subject to substantially similar local reporting rules.

BIS Fines Teledyne FLIR $1 Million for Export Violations

The Bureau of Industry and Security (BIS) has fined Teledyne FLIR $1 million for 19 violations of the Export Administration Regulations (EAR), including miscalculating de minimis rules for exports to China and unauthorized exports to an Entity List address. The company must pay the fine within 30 days or risk losing export privileges.

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.

Cross-Border ESI Transfers: Regulatory Challenges and AI Impact

This notice discusses the evolving regulatory challenges surrounding cross-border transfers of electronically stored information (ESI) for litigation. It highlights the complexities arising from data privacy laws, discovery obligations, and the impact of AI and cloud computing, with a panel discussion scheduled for March 11, 2026.

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.

CIT Ruling on IEEPA Duties Impacts Importer Refunds

The U.S. Court of International Trade (CIT) issued an order in Atmus Filtration, Inc. v. United States directing CBP to liquidate entries without regard to IEEPA duties. This ruling impacts importers seeking refunds of tariffs previously imposed under IEEPA, following a Supreme Court decision.

Trade Court Orders $166 Billion Refund of IEEPA Duties

The U.S. Court of International Trade has ordered U.S. Customs and Border Protection to refund approximately $166 billion in duties paid by over 330,000 importers under unlawful tariffs imposed via IEEPA. This follows a Supreme Court ruling invalidating the tariffs.

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.

EU Leaders Discuss Iran War, Regional Attacks, and Energy Security

EU leaders discussed the war in Iran, regional attacks, and energy security with Middle Eastern countries. The statement condemned attacks, expressed solidarity, and announced humanitarian aid for Lebanon, while reaffirming commitment to regional stability and maritime operations.

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.

Andrés Ritter Confirmed as European Chief Prosecutor

The Council of the EU has confirmed the appointment of Andrés Ritter as the new European Chief Prosecutor for the European Public Prosecutor's Office (EPPO). His term begins on November 1, 2026, succeeding Laura Codruța Kövesi. The EPPO investigates crimes against the financial interests of the EU.

Eurogroup Statement on Belgian Draft Budgetary Plan for 2026

The Eurogroup has welcomed Belgium's draft budgetary plan for 2026, noting its compliance with the Stability and Growth Pact. The group will continue to monitor economic and fiscal developments in Belgium and across the EU.

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 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.