The European Banking Authority (EBA), the European Central Bank (ECB), national central banks and national supervisory authorities across the European Economic Area have signed a Memorandum of Understanding (MoU) to strengthen cooperation and information sharing in support of non-bank payment service providers’ (PSPs) access to central bank-operated payment systems.
This multilateral agreement sets out clear principles for collaboration and harmonises the processes and procedures for the exchange of information between national supervisory authorities and national central banks in relation to non-bank PSPs’ participation in payment systems operated by central banks. This harmonised approach aims to ensure consistent outcomes and establish a level playing field in the European payments market.
 
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Tariffs and trade disruptions dominated headlines in 2025. European firms rely heavily on global trade – it represents about half of EU output. Despite that, European businesses are not radically overhauling their globalised approach. Instead, they are investing to make their supply chains more efficient and resilient.
US firms are a different story. While they rely less on global trade (it represents roughly one-quarter of output), new tariffs caused them to reduce imports and diversify the countries they import from. In short, US firms are rethinking trade and globalisation.
The latest European Investment Bank Investment Survey, which gathered data from approximately 13 000 firms across the European Union and a sample from the United States, provides insight on how businesses are dealing with new trade realities
 

Tariffs complicate trade

Almost half (48%) of EU firms now see tariffs as an obstacle to trade. But a relatively small share, 18%, sees tariffs as a major obstacle to trade. That contrasts with the United States, where more than three-quarters of firms say tariffs are an obstacle, and as many as 39% cite it as a major barrier.
Compliance with new regulations, standards and certifications bogs down trade on both sides of the Atlantic, but arguably more so in Europe. 20% of EU companies say regulations are a major barrier, compared with 8% in the United States.

Firms rethink suppliers

New tariffs shook up global supply chains. But European firms are taking a long view and finding solutions that balance efficiency with supply chain resilience. While just 7% of EU firms reduced imports, as much as 19% started to diversify the countries from which they import.
This differs significantly from US companies, which are aggressively looking for ways to substitute imports. Almost one-third of US companies surveyed are cutting imports, and roughly 40% are switching countries.

EU firms remain committed to trade

EU firms remain well integrated into international trade (either within the European Union or outside it), with manufacturers and large firms leading the way. Roughly two-thirds of EU firms either import, export or both. That’s a much higher figure than for US firms.

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Compliments of the European Investment Bank – a Platinum Member of the EACCNY

The post EIB | How are EU and US firms Navigating Higher Tariffs? first appeared on European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources.

Today, the European Commission and the High Representative presented a Joint Communication on strengthening Economic Security. It outlines concrete steps to reinforce the EU’s strength and resilience in the face of growing external economic threats, while retaining our openness and commitment to international trade and investment.
The Joint Communication builds on the Economic Security Strategy of 2023 which set the overarching economic security objectives of promoting industrial strengths, protecting European interests and partnering with like-minded countries.
This Communication sets out the EU’s strengthened approach to addressing risks, using all the tools at its disposal. To strengthen its economic security, the EU will use existing tools irrespective of their original purpose and will deploy its toolbox more proactively when needed. It will also enhance its information collection and analytical capabilities to inform EU decisions and improve coordination with Member States and businesses.
A proactive and targeted approach
The Communication reflects a paradigm shift, moving from a reactive posture towards a more proactive and systematic deployment of tools. The EU will also be more strategic in leveraging its economic weight and the access to its Single Market. The EU’s measures will remain targeted, proportionate and focused on addressing specific high-risk situations. At the same time, the EU, its Member States and businesses will increasingly need to accept the economic costs that come with increased security and resilience.
Drawing on risk assessment work with Member States, the Commission’s immediate focus will be in six priority high-risk areas:

Reducing strategic dependencies for goods and services;
Attracting safe investment into the EU;
Supporting a vibrant European defence and space industry, and other critical industrial sectors;
Securing EU leadership across critical technologies;
Protecting sensitive information and data;
Shielding Europe’s critical infrastructure.

Coordinated and strategic use of tools
The effectiveness of EU action will be strengthened by using existing tools more strategically and in a coordinated way. This includes, for example, new FDI screening guidelines, taking economic security considerations into account in trade defence investigations, and prioritising funding for projects that work on reducing EU dependencies.
Improved situational awareness
The Commission will enhance its assessment of risks, as well as information gathering and sharing with Member States and stakeholders. It will promote a common understanding of economic security risks, and how and when to deploy measures to counter them. This will help the EU to intervene in a timely and effective manner. A key element will be reinforcing the Commission’s close cooperation with business, which is often at the sharp end of economic security issues.
Completing the EU’s economic security toolbox
The EU is also working on new tools to address the current gaps in the EU’s economic security. The first flagship proposal under the new economic security communication, ResourceEU is presented today, focusing on tackling Europe’s overdependence on overseas suppliers of critical raw materials and semiconductors. Other initiatives are at various stages of preparation and implementation, including the SAFE Regulation, Industrial Accelerator Act, Cloud and AI Development Act, CHIPS 2.0 Act, Net Zero Industry Act, Critical Raw Materials Act, Start-up and Scale-up Strategy, and EU Space Programmes.
International cooperation
Europe is far from alone in facing economic security challenges. With that in mind, the EU will even further step up its cooperation with trusted partners, promote common economic security standards, and where possible take joint action to address key challenges.
Next steps
The Commission is already putting in motion any necessary legislative changes, guidelines and other supportive measures to implement the actions set out in the Joint Communication. The Commission will continue to engage intensively with the Member States, third countries and with stakeholders on the new economic security strategic approach.
 
 
 
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The Commission today presented the Automotive Package to support the sector’s efforts in the transition to clean mobility. It sets an ambitious yet pragmatic policy framework to ensure 2050 climate neutrality and strategic independence while providing more flexibility to manufacturers. It also responds to calls by EU industry to simplify rules.
The automotive sector has been key to Europe’s industrial strength for decades, sustaining millions of jobs and driving technological innovation. As the world is changing, the car industry is transforming through new technologies and actors.
Today’s package maintains a strong market signal for zero-emission vehicles (ZEV) while giving the industry more flexibility to achieve CO2 targets, and supports vehicles and batteries made in the European Union. The corporate vehicles initiative will support the uptake of zero- and low-emission vehicles. The automotive omnibus enhances competitiveness by saving costs, expected to be approximately €706 million per year, and cutting red tape, while providing greater investment certainty.
Commission President von der Leyen said: “Innovation. Clean mobility. Competitiveness. This year, these were top priorities in our intense dialogues with automotive sector, civil society organisations and stakeholders. And today, we are addressing them all together. As technology rapidly transforms mobility and geopolitics reshapes global competition, Europe remains at the forefront of the global clean transition.” 
Staying the course towards clean mobility with pragmatism
The Commission presents a package that addresses both supply and demand of the automotive sector’s transition: on the supply side, it presents a review of the existing CO2 emission standards for cars and vans and a targeted amendment to those for heavy-duty vehicles (HDVs). On the demand side, it proposes an initiative to decarbonise corporate vehicles with binding national targets for zero- and low-emission vehicles.
The CO2 standards now provide further flexibilities to support the industry andenhance technological neutrality, while providing predictability to manufacturers and maintaining clear market signal towards electrification.
From 2035 onwards, carmakers will need to comply with a 90% tailpipe emissions reduction target, while the remaining 10% emissions will need to be compensated through the use of low-carbon steel Made in the Union, or from e-fuels and biofuels.
This will allow forplug-in hybrids(PHEV), range extenders, mild hybrids, and internal combustion engine vehicles to still play a role beyond 2035, in addition to full electric (EVs) and hydrogen vehicles.
Prior to 2035, car manufacturers will be able to benefit from “super credits” for small affordable electric cars made in the European Union. This will incentivise the deployment on the market of more small EV models. For the 2030 target for cars and vans, additional flexibility is introduced by allowing “banking & borrowing” for 2030-2032. An additional flexibility is granted for the vans segment, where the electric vehicle uptake has been structurally more difficult, with a reduction of the 2030 CO2 vans target from 50% to 40%.
The Commission is also proposing a targeted amendment to the CO2 emission standards for heavy-duty vehicles with a flexibility easing the compliance with the 2030 targets.
Regarding corporate vehicles, mandatory targets are set at the Member State level to support the zero- and low-emission vehicle uptake by large companies. Having more zero- and low-emission vehicles on the market, both first- and second-hand markets – will benefit all customers. As companies’ cars cover higher yearly mileages, it also means more emission reductions. It will also make zero- or low- emissions and “Made in the EU” a pre-requisite for vehicles benefitting from public financial support. 
Strengthening Europe’s own battery industry
With €1.8 billion, the Battery Booster will accelerate the development of a fully EU-made battery value chain. As part of the Battery Booster, €1.5 billion will support European battery cell producers through interest-free loans. Additional targeted policy measures will support investments, create a European battery value chain and foster innovation and coordination across Member States. These measures will enhance the cost competitiveness of the sector, secure upstream supply chains and support sustainable and resilient production in the EU, contributing to the derisking from dominant global market players. 
Less red tape and stronger enabling conditions for the transition
The Automotive Omnibus will ease administrative burden and cut costs for European manufacturers, boosting their global competitiveness, and freeing up resources for decarbonisation. Businesses are expected to save approximately €706 million per year, bringing the administrative savings thanks to all omnibuses and simplification initiatives the Commission has presented so far to around €14.3 billion per year. Among other things, it proposes to reduce the number of secondary legislation that will be adopted in the upcoming years and to streamline testing for new passenger vans and trucks. This will reduce costs while maintaining highest environmental and safety standards. The roll-out of electric vans in domestic transport is supported by measures that place them on an equal footing with internal combustion vans regarding drivers’ rest times and rules.
The Omnibus also introduces a new vehicle category under the Small Affordable Cars initiative, covering electric vehicles up to 4.2 meters in length. This will enable Member States and local authorities to develop targeted incentives, stimulating demand for small EVs made in the EU.
The Commission is also updating and harmonising car labelling rules, for customers to have complete information about the cars’ emissions when making purchases.
Background
Today’s proposals build on the Automotive Action Plan, and input from industry and key stakeholders gathered during the Strategic Dialogue under President von der Leyen’sleadership since January 2025.
In January 2025, President von der Leyen launched a Strategic Dialogue on the Future of the Automotive Industry, bringing together industry representatives, social partners, Member States, regions and civil society. Three Dialogue meetings have taken place to date, providing a platform to discuss the challenges and opportunities the sector faces.
 
 
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