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WASHINGTON, D.C. — The U.S. Department of Commerce today highlighted an inaugural successful collaboration with U.S. Customs and Border Protection to combat duty evasion under the Enforce and Protect Act (EAPA). For the first time, in August 2025, the Department of Commerce submitted a duty evasion allegation to U.S. Customs and Border Protection under EAPA. On July 30, 2026, U.S. Customs and Border Protection (CBP) determined that antidumping duties are being evaded on imports of carbon and all...
Blog | Sustained rebalancing requires policy action in both surplus and deficit countries
Global current account balances increased further in 2025, driven primarily by China, where the current account surplus recorded the largest widening in at least two and a half decades. This was offset by some narrowing in the United States and the euro area.
As our latest External Sector Report shows, China’s current account surplus increased by about $300 billion last year, the largest widening in absolu...
Blog | Energy prices are surging again, pushing up inflation in the euro area. This ECB Blog post examines whether firms are attributing this to a demand surge or to supply constraints. Two approaches – textual analysis and empirical models – can help make the picture clearer.
For central banks, whether inflation stems from demand or supply makes a crucial difference. Demand-driven inflation (sometimes called demand-pull inflation) calls for a firm policy response. Meanwhile, supply-driven infl...
This edition of the Global Trade Update examines the strong but increasingly uneven expansion of international trade in the first half of 2026.
Global goods trade is estimated to have reached approximately US$13.7 trillion in the first half of 2026, up 12.5 % from the same period in 2025. Services trade grew by 10.5 %. Together, goods and services added around US$2 trillion to global trade, putting it on course for a record annual value.
Higher prices inflate trade growth
A significant share of ...
Good evening,
It’s always great to be back in America and to be here among friends: friends of Europe, friends of defence. Friends of football.
The World Cup is over. And tonight we have the next big event in America: EU Defence Night!
It’s humbling to speak to you from the same stage as many world leaders: Konrad Adenauer, Henry Kissinger and George H. W. Bush. And Margaret Thatcher, Vaclav Havel.
When Bill Clinton spoke here, he spoke here for more than an hour. I will try my best to be a litt...
The European Commission took two decisions finding non-compliance by Google with the Digital Markets Act (DMA) for self-preferencing its own services on Google Search, and for putting in place restrictions on businesses to direct consumers to alternative, often cheaper, purchase channels on Google Play (steering). In this regard, the Commission issued Google a fine of €460 million and a fine of €430 million respectively.
Self-preferencing on Google Search
Under the DMA, gatekeepers must not tr...
The ECB Blog | Why have energy prices risen less during the Iran war than after Russia’s invasion of Ukraine? This ECB Blog post compares the two episodes and explains the role of market buffers, demand and competition for LNG shipments.
The wars in Ukraine and Iran have both led to significant energy shocks and, as a result, rising energy prices. Yet the two shocks differ markedly in terms of both scale and market impact.[1] Most notably, although the disruptions to global oil and gas supplies ...
Corporate income tax (CIT) revenues remained at historically high levels in 2023, while corporate tax rates have broadly stablised, according to the 2026 edition of OECD Corporate Tax Statistics released today.
Across 135 jurisdictions for which data is available, CIT revenues accounted for 17.3% of total tax revenues and 3.5% of GDP on average. While slightly lower than in 2022, these levels remain above pre-pandemic levels and earlier historical peaks. Corporate tax revenues continue to re...
IMF Blog post | Stronger oversight, better data, and deeper coordination are needed to safeguard faster and more interconnected markets
Artificial intelligence is reshaping how financial firms price risk, allocate credit, and respond to stress. It is increasingly embedded in the decision‑making architecture of the financial system. For central banks and financial supervisors, the key challenge is ensuring that AI is governed in ways that reinforce, rather than undermine, financial stability.
Thr...
Today, the European Commission published guidelines to assist providers and deployers of artificial intelligence (AI) systems in meeting the AI Act’s transparency obligations, which start to apply on 2 August 2026.
Transparency obligations will help people recognise when they are interacting with AI or when content has been generated or altered by AI, reducing the risk of deception and manipulation. The guidelines published today clarify which providers and deployers must comply with the transpa...
