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Recent Editions
Risk Channel
North America
The refund system set up by U.S. Customs and Border Protection to enable companies to recover illegally collected tariffs from the U.S. government went live on Monday. U.S. importers, including Target and Walmart, are due more than $160bn in refunds following the Supreme Court's decision ruling the tariffs unlawful in February. CNBC nevertheless notes that trade lawyers are warning of bureaucratic hurdles, legal vulnerabilities, and the possibility of a last-minute appeal by the Trump administration. ″[Importers] are pessimistic that the government is going to make this easy. They’re anticipating that the government is going to make it as difficult as possible to get their money back,” said trade attorney Matthew Seligman, principal at Grayhawk Law.
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Risk Channel
UK/Europe
Bank for International Settlements General Manager Pablo Hernandez de Cos has said the potential for stablecoins to undermine monetary and fiscal policy, cause financial market stress and obstruct the fight against illicit financing, means global regulatory coordination is of "critical importance." Speaking in Japan, de Cos warned that without such cooperation, "divergent regulatory frameworks for stablecoins across jurisdictions could lead to severe market fragmentation or enable harmful regulatory arbitrage."
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