Where Europeans & Americans Connect to do Business |
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September 2021 NEWSLETTER |
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A Message from the President |
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International travel is still complicated.
You need transatlantic business contacts & connections.
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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 FLORIDA PODCASTS
"Deep Dives" in Partnership with Miami Global Net
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Deep Dive 3
Immigration
What are the key issues companies in the US are being confronted with and what developments should we expect following the EU-US Summit in June?
Featuring Scott Bettridge, Immigration Practice Chair at Cozen O’Connor, a Founding Member of EACC Florida.
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Deep Dive 2
Data Protection
What is it? How does it work? Why is it important? What are the differences between Europe and the US? What about Latin America? What are the key issues affecting transatlantic business?
Featuring David Zetoony from Greenberg Traurig.
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Deep Dive 1
Brexit 101
What is it? What is going to happen? What will the impact be? Why is it important for the US? Will it have an impact in Florida and/or Latin America?
Featuring Brad Ashton and Simon Hart from RSM.
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EACC Florida
Miami Global Net Host Alejandro Servalli interviews the EACC Florida. How did the chamber start? What are its networking capabilities? Which services does it provide to members? How can you join and get involved?
Featuring EACC Florida President Alan Sutin and Executive Director Christina Sleszynska.
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EU I Delivering the European Green Deal. On July 14, the European Commission adopted a broad set of proposals to make the EU’s climate, energy, transport, and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. Read more.
EU I Proposed Carbon Border Adjustment Mechanism. The CBAM proposal is a key element of the European Green Deal (Green Deal), which sets an ambitious goal for the European Union (EU) to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, and to make Europe a climate-neutral continent by 2050.
Businesses in Russia, Turkey, China, and the United Kingdom are expected to be impacted the most by the new legislation, since they are the largest suppliers of products covered by the CBAM to the EU. Read more.
EU I New Guidance Helps Companies to Combat Forced Labor in Supply Chains. The Commission and the European External Action Service (EEAS) have published a Guidance on due diligence to help EU companies address the risk of forced labour in their operations and supply chains, in line with international standards. Read more.
EU Commission Overhauls Anti-Money Laundering and Financing of Terrorism Rules. On 20 July 2021, the European Commission presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The aim is to improve the detection of suspicious transactions and activities, and close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system. Read more.
EIB I European Firms and Climate Change 2020/2021. The new EIB Climate Report provides a brief overview of firms’ perceptions of climate risks, investment to address those risks and the main factors influencing their decisions and compares those to US companies. Read more.
ESMA I EU's Securities Market Regulator Publishes Disclosure and Investor Protection Guidance on SPACs. SPAC transactions may not be appropriate
investments for all investors due to risks relating to dilution, conflicts of interests in relation to
sponsors’ incentives and the uncertainty as to the identification and evaluation of the target
EU-Andean Community Trade Agreements. Find here the Implementation reports, evaluation reports, impact assessments and consultations regarding the trade agreements between the EU and the countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru). Read more.
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EU Removes US from Safe Travel List to Europe. Following a review under the recommendation on the gradual lifting of the temporary restrictions on non-essential travel into the EU, the Council updated the list of countries, for which travel restrictions should be lifted. The list no longer includes: Israel, Kosovo, Lebanon, Montenegro, the Republic of North Macedonia and the United States of America. Read more.
US I Proposed Federal Tax on Import of Carbon-Intensive Products. Congress' budget reconciliation process later this year might include a “Polluter Import Fee,” also referred to as a “Carbon Border Tax.” This tax would levy a fee on imported products whose fabrication is carbon-intensive, similar to the European Union’s CBAM proposal. While the details are unclear as to how the proposed U.S. tax would be calculated, which specific products the tax would include, or how the intensity of the carbon emissions would be measured, like the CBAM, the carbon border tax initially would only apply to a select number of goods with a high risk of carbon leakage, such as iron, steel, cement, fertilizer, aluminum, and electricity generation. Read more.
US I Update on Forced Labor for Imported Products. Since early 2021 with further updates over the summer, importers and transnational employers are on notice that they must ensure their supply chains, global operations, and products are free of forced, indentured, child, or convict labor. Read more.
US I Commitment to International Education Renewed. In a joint statement, the Department of State and Department of Education committed to undertake actions to support a renewed focus on international education in order to reinforce US people-to-people relationships around the globe and strengthen the infrastructure and pathways that help prepare Americans in all sectors to engage with the world. Read more.
OECD - Value of G20 Merchandise Trade at New High in Q2 2021. The second quarter of 2021 saw international merchandise trade for the G20, reach a new high with G20 merchandise exports and imports increasing by 4.1% and 6.4% in Q2 2021. United States recorded growth of 6.8% for exports in Q2 2021, led by aircraft, pharmaceuticals and semiconductor and European G20 economies saw international trade increase notably in aircraft, agriculture products and pharmaceuticals, fueled in particular by demand from China and the United States.
G20 I Global Agreement to Ensure Fairer Taxation of Multinational Enterprises. The European Commission welcomed the global agreement which will bring fairness and stability to the international corporate tax framework and usher in a complete reform of the international corporate tax system. This will include a reallocation of taxing rights meaning that the world’s largest companies will have to pay tax wherever they conduct business. At the same time, a global minimum effective tax rate of at least 15% will help curb aggressive tax planning and stop the corporate tax “race to the bottom.” Read more.
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EACC Florida
MEMBER and PARTNER INSIGHTS
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4 Things To Know About COVID 'Long-Haulers' At Work. Read about some of the challenges employers face with employees with long-term COVID-19 symptoms. But even before accommodation and leave requests start trickling in, employers would be wise to have their protocols for handling those requests locked in and avoid trying to figure out what to do on the fly. Read more.
Compliments Cozen O'Connor
A Global Guide to Tax Compliance. This white paper providers the answers to fourteen essential tax compliance questions and insight from local experts to help minimize your tax compliance risks. TMF Group provides a global perspective, while also highlighting local challenges. Download here.
Compliments TMF Group
Immigration: Department of State Issues Guidance Extending Validity of NIEs. On July 6, 2021, the US Department of State issued guidance extending the validity of certain National Interest Exceptions (NIEs) granted to travelers through U.S. embassies and consulates abroad for those subject to restrictions. The guidance affects certain travelers coming into the United States from China, Iran, Brazil, South Africa, the Schengen Area, the United Kingdom, Ireland, and India. Read more.
Compliments Greenberg Traurig
Businesses Have Woken Up to Net Zero. Closing remarks by HSBC Group Chief Executive Noel Quinn's at this year’s Climate Innovation Forum during London Climate Action Week (LCAW) where he offers insights into business’s attitudes on topics from sustainable finance to global climate policy and biodiversity. Listen here.
Compliments HSBC
Addressing Solar Asset Under-Performance. The 2021 kWh Analytics Solar Risk Assessment revealed that solar projects are more than thirteen times more likely to chronically under-perform their initial production forecasts over a multi-year period than expected. In this episode featuring kWh Analytics CEO Richard Matsui, Power Players by Origis dives deep into this under-performance trend and explains how advancing a clear understanding of the true cost of solar O&M and Asset Management can lead to a stronger synchronization between financial models and the resulting solar assets. More 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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Matthew Hill – Traveling across Europe via its Diplomatic Corps
“Anything is Possible just Believe and Keep Climbing”
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Matthew was born in Miami. He is of Cuban descent and lives and goes to school in Kendall. He will be entering 6th grade this Fall and his favorite subjects are social studies and math. He is fluent in English and Spanish, is learning Portuguese and is considering French as well.
He loves planes and travel, likes to read about countries and their history. Matthew is a straight-A student and after high-school, he plans to study International Relations, Economics and Aviation. When he grows up, he would like to be a pilot and a diplomat. He would also like to become the first autistic President of the United States.
Matthew is 11 and has never left the United States. This summer, in spite of the Pandemic, he decided to take a trip across Europe and other countries … by visiting with their Consular Corps.
He started in Miami and met with the Consul Generals or Honorary Consuls of Norway, the UK, the Netherlands, Hungary, Switzerland and Turkey. Germany, France, Italy, Spain and Romania are next on his list as are the Honorary Consuls of Belgium, Monaco and Ireland.
Matthew also traveled to Atlanta with his mother and grand-mother as a special guest of Delta Airlines. He visited the Delta HQ and met with their CEO. He went on to visit with the Consulate Generals of Belgium, Germany and Greece. This determined little boy has an impressive memory for names and received raving reviews from his diplomatic hosts, all impressed by his high energy and the knowledge he had of each of the countries he visited.
You can follow Matthew on Instagram Delta717Diecast
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Air Europa Líneas Aéreas, S.A.U., branded as Air Europa is a private airline with head-quarters in Mallorca (Spain) and its main hub at Barajas Airport in Madrid.
Air Europa is a member of the Skyteam Alliance and currently operates 4 weekly flights from Miami to Madrid with connections to over 40 destinations across Spain and Western Europe.
Starting in November 2021, Air Europa will have daily flights from Miami to Madrid operated with the Boeing Dreamliner 787-9. It features a special configuration in Business Class (1-2-1) with fully reclinable seats and all Business Class passengers having access to the aisle.
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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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