The Essentials

On 25 July 2025, President Donald Trump signed Executive Order 14320, Promoting the Export of the American AI Technology Stack, outlining a national strategy to promote global adoption of US-developed artificial intelligence technologies and assert American leadership in global standards and supply chains.

On 15 August 2025 the IRS released Notice 2025-42 (the Notice), which restricts the methods that developers of wind and solar projects can use to determine whether they have begun construction for purposes of the section 45Y production credit and the section 48E investment credit on and after 2 September 2025.

On 4 July 2025, President Donald Trump signed the Republican budget reconciliation bill, known as the “One Big Beautiful Bill Act”, Pub. L. No. 119-21 into law. 

On 18 July 2025, the Council of the European Union adopted additional measures which have been introduced in its 18th sanctions package in response to the ongoing conflict in Ukraine.