Where Europeans & Americans Connect to do Business |
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A Message from the President |
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Join EACC Florida NOW and Get the Rest of 2021 for
FREE!
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EACC is a Connector
We open doors for our members across our chapter network on both sides of the Atlantic and we keep you informed on the relevant issues affecting your business.
Members of the EACC network enjoy:
♦ Access to our network of high-level business executives & our unique referral service
♦ Invitations to exclusive seminars & a direct exchange with transatlantic experts
♦ Visibility for your organization & opportunities to showcase your thought-leadership
♦ The ability to make a difference & actively engage in the Trans-Atlantic business dialogue
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EACC SURVEY
Impact of the EU / US Travel Ban on Companies Doing Transatlantic Business
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The European American Chamber of Commerce (EACC) conducted a network-wide survey in September to better understand how the EU/US travel ban in place since Spring 2020 has impacted companies engaged in transatlantic business. 132 responses were received with 38.6 % characterized as professional services firms, 21.2% as manufacturers, 9.1 % as financial services and the rest as Transportation/Logistics, Education, Travel/Hospitality and Other. |
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Nearly 90% of respondents said the restrictions impacted their company/organization/operations, with over 74%answering that the impact had been ‘significant’ or ‘noticeable’.
To the question whether companies had lost business or customers as a result of the travel ban, 15.2% have not lost business or customers; 24% said the impact was negligible; and 42.4% said the impact had been ‘noticeable’ or ‘significant’.
The U.S. Administration announced the easing of restrictions on travelers from Europe beginning in November. Whereas the reopening of the borders is excellent news, it remains to be seen what the long-term effects of the border closures will have on transatlantic business, international talent management and FDIs.
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SOME COMMENTS FROM EACC MEMBERS
- We had to postpone the company expansion [including major capital outlays]
- Recruiting/hiring has been slower due to executive travel limitations.
- The employees in our…office have not been able to visit their loved ones back home (which impacts their well-being and…thus also our business).
- I am not able to manage the team in the USA as well as I normally would. I can’t grow the business because new business is very difficult managed from a distance and without personal contact. It is hard to hire new people and work with them.
- It’s harder to create some type of relationship with our customers.
- We finance certain investments and expansions of European companies into the US. These companies are now more reluctant to invest in the US, because it is difficult for the European management to visit these investments.
- Complete shutdown of influx from Europe of investors and new Companies opening US subsidiaries.
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EACC EVENTS
PARTNER EVENTS
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IF YOU MISSED ANY OF OUR PROGRAMS, YOU CAN FIND THEM ON OUR YOU TUBE CHANNEL |
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EACC FLORIDA PODCASTS
"Deep Dives" in Partnership with Miami Global Net
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The European Union and the United States have the largest bilateral trade and investment relationship and enjoy the most integrated economic relationship in the world. Although overtaken by China in 2021 as the largest EU import source for goods, the transatlantic relationship continues defining the world economy.
The US remains the EU’s largest trade and investment partner by far and either the EU or the US is the largest trade and investment partner of almost every other country in the global economy. The EU and the US are also each other’s biggest source of foreign direct investment. Taken together, the economies of both territories amount to more than 40% of world GDP and more than 40% of global trade in goods and services.
Our speaker will offer an update on the state of EU-US trade relations, the effects of the pandemic, FTAs, trade between the EU & Florida, and more.
Featuring: Tomas Baert – Head of Trade and Agriculture, Delegation of the European Union to the US (Washington, DC)
Click on the image to watch
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You might also be interested in |
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EU I Only Essential Travelers, Vaccinated Persons from U.S. Allowed into EU. The EU Council now recommends only essential travelers and vaccinated persons from the United States be allowed into the EU, removing the U.S. from its list of countries for which restrictions should be lifted. Read more.
EU I Commission Proposes a Path to the Digital Decade Delivering the EU's Digital Transformation by 2030. Read about the EU's plan to achieve the digital transformation of the European society and economy by 2030, here.
EU I Strengthened EU Export Control Rules Kick In. The EU's new Export Control Regulation will tighten controls on trade in dual-use items – civilian goods and technologies with possible military or security use – while enhancing the EU’s capacity to protect human rights and support secure supply chains for strategic items. Read more.
EU I Leading Position in Global Agri-Food Trade Reinforced in 2020. China, Switzerland and the Middle East and North Africa region were the major growth destinations for EU agri-food exports in 2020. The value of EU exports fell most to the United States, Turkey, Singapore and Japan. In terms of imports, Canada grew significantly as a source for EU imports. At the same time, EU imports declined most in value from the United Kingdom, Ukraine and the United States. Read more.
EU I Commission Proposes Common Charger for Electronic Devices. As a step against e-waste and consumer inconvenience caused by the prevalence of different, incompatible chargers for electronic devices, the European Commission has tabled a revised Radio Equipment Directive to establish a common charging solution for all relevant devices. If adopted, the new rules will come into effect in 2024. Read more.
EU and Colombia Sign MoU to Strengthen Bilateral Relations. The EU and Colombia agreed on an "Agenda of enhanced political and sectoral dialogue and cooperation for the next decade". The Memorandum identifies five priorities to guide the development of EU-Colombia relations and lists 12 sectors where cooperation can be increased and/or expanded. The EU is Colombia's third trade partner after the US and China, the largest source of FDI and an important development partner. Read more.
ESMA I Risk of Market Corrections in Uneven Recovery. In its second report for 2021, the European Securities and Markets Authority (ESMA), highlights the continued rise in valuations across asset classes in an environment of economic recovery and low interest rates, the increased risk taking of investors and the materialisation of event risks such as GameStop, Archegos and Greensill. Read more.
ECB I Climate Change and Monetary Policy. The European Central Bank (ECB) is currently trying to quantify the consequences of climate change on companies and banks through an economy-wide stress test. The exercise, the results of which will be published soon, draws on a range of climate scenarios developed by the Network for Greening the Financial System (NGFS), a global association of central banks and supervisory authorities advocating a more sustainable financial system. Read more.
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U.S. I Travel Restrictions on International Travelers To Be Relaxed. The US announced that it would simultaneously relax travel restrictions for foreign nationals traveling from China, Iran, the Schengen Area, the U.K., Brazil, Ireland, South Africa, and India, and impose new travel requirements for travelers from all other countries. Requirements will include proof of vaccination against COVID-19 and provide proof of a negative COVID-19 test taken within three days of boarding their flight to the United States. This change in policy is scheduled to go into effect in November 2021. Read more.
EU/U.S. I Trade and Technology Council First Meeting in Pittsburgh. Following the launch of the Trade and Technology Council (TTC) at the EU-U.S. Summit in June, its first meeting was held on 29 September 2021 in Pittsburgh. The TTC will tackle a diverse set of challenges, including cooperation on technology standards, global trade challenges and supply chain security, climate and green technology, ICT security and competitiveness, data governance and technology platforms, the misuse of technology threatening security and human rights, export controls, investment screening, and access to, and use of, digital technologies by small and medium enterprises. Read more.
EU/US I Joint COVID-19 Manufacturing and Supply Chain Taskforce. The objective of this Joint Taskforce is to deepen cooperation and identify and resolve issues around expanding vaccine and therapeutics production capacity, including by building new production facilities, maintaining open and secure supply chains, avoiding any unnecessary export restrictions, and encouraging voluntary sharing of know-how and technology on mutually-determined terms including through the ACT-A. Read more.
EU and US Jointly Announce Global Methane Pledge. This initiative to reduce global methane emissions will be launched at the UN Climate Change Conference (COP 26) in November in Glasgow. President Biden and European Commission President Ursula von der Leyen urged countries at the US-led Major Economies Forum on Energy and Climate (MEF) to join the Pledge and welcomed those that have already signaled their support. Read more.
U.S. I Congress Introduces 18 Bills On Cryptocurrencies and Blockchain. With still over a year to go in watching how the 117th Congress might act on cryptocurrency and blockchain policy, the bills introduced provide a good primer on the main issues Congress is considering as it relates to cryptocurrency, blockchain, and CBDC. Read more.
OECD I Ban on Export Credits for Coal-Fired Electricity Projects. A proposal submitted by the EU and other countries (Canada, the Republic of Korea, Norway, Switzerland, the United Kingdom and the United States) to ban export credits to unabated international coal-fired electricity generation projects, has been approved by the OECD. Read more.
IMF I Five Things to Know about Carbon Pricing. Deterring the use of fossil fuels, such as coal, fuel oil, and gasoline, is crucial to reducing the buildup of heat-trapping greenhouse gases in the atmosphere. Carbon pricing provides across-the-board incentives to reduce energy use and shift to cleaner fuels and is an essential price signal for redirecting new investment to clean technologies. Here are five things to know about carbon pricing. Read more.
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EACC Florida
MEMBER and PARTNER INSIGHTS
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Travel Bans To Be Rescinded; Proof of Vaccination To Be Required. On Monday, September 20, 2021, the White House announced that the Biden administration plans to ease travel restrictions on all international travelers coming into the United States. Beginning in early November 2021, the United States will rescind the current geographic COVID-19 travel bans implemented for individuals from China, Iran, the Schengen Area, U.K., Ireland, Brazil, South Africa, and India. Instead, the United States will require all international travelers to prove that they have been fully vaccinated against COVID-19, as well as provide proof of a negative COVID-19 test taken within three days of boarding a flight to the United States. The CDC will provide information regarding which vaccines will be accepted closer to the implementation of these new regulations. Read more.
Compliments Cozen O'Connor
Cross-Border Expansion: What are the Key Considerations? Businesses are often keen to add to their footprint overseas. International expansion can unlock many benefits, such as increasing brand exposure and customer base, taking advantage of the attractive incentives on offer in certain regions, or enjoying geographical advantages that facilitate an easier flow of goods and services across borders. But with reward comes a range of risks. Read more.
Compliments TMF Group
California’s “Personal Information” vs. Europe’s “Personal Data”: Similar But Different. Data privacy has become one of the greatest areas of risk and concern for business. It is also quickly becoming a heavily regulated field with the adoption in Europe of the General Data Protection Regulation (GDPR) in 2016 and the adoption in California of the California Consumer Privacy Act (CCPA) in 2018 and the California Privacy Rights Act (CPRA) in 2020. Some states, such as Colorado and Virginia, have already followed California in enacting data privacy regulation; many others are considering it. Read more.
Compliments Greenberg Traurig
New Forms of Digital Money Could Spur Growth. One banking innovation being developed is a new form of digital money known as Central Bank Digital Currencies (CBDCs). These are legal tender backed by a central bank or government authority, which means they are transparent and stable – avoiding many of the risks associated with some other forms of digital money, particularly cryptocurrencies and some stablecoins. They are already operating in certain countries and a number of major central banks are actively developing and piloting their own versions. Read more.
Compliments HSBC
Have You Ever Wondered how Solar Panels Get Cleaned? Check out the cleaning process at Origis Energy's Lamar County solar site! View here.
Compliments Origis Energy
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YOUNG VOICES FROM THE FUTURE |
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Every month, the EACC Florida Newsletter features a young person - a student, an artist, an entrepreneur - whose identity, vision or project illustrates the vibrancy of Florida's transatlantic community. If you would like to suggest someone, please contact us HERE. And if you missed one of our Young Voices from the Future, you can find them HERE.
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Claudie Perret – Franco-American Chorus Girl
“It’s truly magical how Art binds people to places, to communities, and to each other.”
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Claudie was born in Saint-Priest-en-Jarez, in central France. When she was 5, her family moved to Guadeloupe where she learned to braid her hair and avoid sunburns. In 2010, her family relocated again, this time to Avalon Park close to Orlando, where she has been living ever since. Claudie has an older sister, a younger brother and is perfectly bilingual in French and English. Every summer, the family returns to France to visit friends and family.
Claudie discovered the art of Theatre in middle school where she starred as Rosie in her school’s production of Bye Bye Birdie. She loved music and performance and remained involved in chorus throughout high school. She was eventually selected for the Florida ACDA (American Choral Directors Association) choir and participated in a small acapella group with some of her best friends. Claudie has a beautiful voice and sang a touching rendition of both the French and American hymns at a public event in Orlando on Bastille Day 2021. You can listen to her here.
Claudie is from the 2020 Generation which finished high school, graduated and started college on-line. She loves film and video editing and hopes to work in advertising or marketing. For now, she is studying Media Production and Management at the University of Central Florida while working part-time as a Pharmacy Technician. She expects to graduate in 2023.
It's taken 5,000 miles, 19 years, and lots of love for Claudie to get to where she is today. But she wouldn't have it any other way.
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Together with its sister chapters, EACC Florida is part of a growing and highly dynamic transatlantic network reaching over 10,000 executives in the US and across Europe. With over 750 members, the EACC is a valuable resource for any size business. If you would like to get involved, let us know.
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EACC Florida
Founding Members / Presidents Circle
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