AGP Executive Report

US Trade Policy: President Trump signed a Section 232 proclamation imposing new tariffs on imported drones and key components, with 100% duties for selected “sensitive” systems (including drones over 25kg and thermal-imaging drones) plus docking stations and certain critical parts, while 25% applies to smaller drones and other less-sensitive components; the regime starts in 21 days (components later, up to 180 days). Liechtenstein in the Tariff Map: Qualifying imports from Liechtenstein (along with the EU, Japan, South Korea, Switzerland and Taiwan) face a 15% cap, but only if substantially all critical technology and components originate in approved markets. Local Security & Finance: Liechtenstein says it will not pay ransom after a major data breach hit its registry of foundations and trusts, with officials still assessing scenarios and legal constraints. Vatican–Liechtenstein Link: Pope Leo XIV appointed Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth management experience into financial oversight. AI & Media Business: Meta’s AI push for news content expands via a partnership with Newsmax, raising questions about reliability and political narratives. Monetary Policy Context: A roundup highlights countries that rely on foreign currencies instead of issuing their own, underscoring trade-offs in monetary control.

US Drone Tariffs: President Trump signed a Section 232 proclamation imposing up to 100% tariffs on “sensitive” drone imports (including drones over 25kg, thermal-imaging systems, docking stations and certain critical components), with 25% on smaller drones and lower rates for the EU, Japan, Liechtenstein, Switzerland, South Korea and Taiwan (15%) and the UK (10%), taking effect in about three weeks. Supply-Chain Reality Check: Market coverage flags that key drone inputs like magnets and lithium battery cells remain heavily China-sourced, so any “American drone renaissance” may take longer than stocks expect. Liechtenstein Angle: The US tariff schedule explicitly lists Liechtenstein among the lower-rate partners, while Liechtenstein’s own business news this week includes officials saying they won’t pay a ransom after a major hacking attack on the country’s foundation and trust registry. Vatican Finance Link: Pope Leo XIV appointed Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth management experience into Holy See financial oversight. Monetary/Policy Context: Separate coverage notes several countries rely on foreign currencies, highlighting the trade-off between stability and loss of independent monetary control. Tech & Media: Meta’s AI push is tied to a new partnership with Newsmax, raising questions about reliability as the deal feeds AI systems with large-scale journalism archives.

US Trade Policy: President Trump signed a Section 232 proclamation imposing new drone tariffs: 100% on “particularly sensitive” unmanned aircraft systems (including thermal-imaging drones, docking stations and certain critical components) and 25% on smaller drones; qualifying EU, Japan, Liechtenstein, South Korea, Switzerland and Taiwan imports face a capped 15%, while the UK can get 10% if origin rules are met. Liechtenstein & Cybersecurity: Liechtenstein says it will not pay ransom after a major hacking attack on its foundations and trusts registry; officials still don’t know the perpetrators or demands, and are reviewing legal and operational scenarios. Vatican Finance: Pope Leo XIV appointed Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth and asset-management experience to Holy See budget oversight. Business & Innovation: Quorum Media launched its “Top Entrepreneurs to Watch” series on fintech and Web3 founders, using public filings and product history rather than submissions. Local Economy Watch: Spain’s Ibex 35 ended the week slightly lower (down 0.10%) amid macro and geopolitical jitters.

Liechtenstein Cybersecurity: Liechtenstein says it still doesn’t know who carried out a major hacking attack on its foundations and trusts registry, but Prime Minister Brigitte Haas says paying a ransom “wouldn’t be an option,” with officials still weighing scenarios and noting the legal path may be unclear given the breach’s scale. Vatican Finance & Wealth Management: Pope Leo XIV appointed 36-year-old Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth and asset-management experience from Industrie- und Finanzkontor to help oversee Holy See budgets and financial activity. US–Liechtenstein Trade Impact (Drones): The US announced sweeping drone import tariffs under Section 232, with duties up to 100% for “sensitive” drones (over 25kg, thermal imaging, docking stations and key components) and 25% for smaller models; importantly for Liechtenstein, qualifying imports from Liechtenstein are capped at 15% if origin rules are met, while the policy is set to start Sept. 3. Entrepreneurship Spotlight: Quorum Media launched the first edition of its “Top Entrepreneurs to Watch,” profiling founders in fintech, Web3 and emerging tech. Market Watch: Spain’s Ibex 35 ended the week slightly down (0.10%) amid ongoing geopolitical pressure and inflation concerns.

US–Liechtenstein Trade: The White House says the US will impose new drone import tariffs under Section 232: 100% on “particularly sensitive” drones (notably thermal imaging and certain heavy systems), 25% on smaller drones, and lower rates for allies—15% for the EU, Japan, Liechtenstein, South Korea, Switzerland and Taiwan, and 10% for the UK—aimed at cutting reliance on foreign supply chains. Cybersecurity & Finance: Liechtenstein officials say they still don’t know who carried out last month’s hacking of the foundations and trusts registry, but Prime Minister Brigitte Haas says paying a ransom “wouldn’t be an option,” while legal and operational scenarios are being reviewed. Vatican–Wealth Governance: Pope Leo XIV appoints 36-year-old Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth management experience to reforms focused on financial transparency. Crypto/Community: Obyte launches “Coop,” a decentralized cooperative reward platform that pays participants based on community voting and locked token commitments.

US–China Trade: President Trump signed a Section 232 order imposing up to 100% tariffs on imported drones and key components, hitting drones over 25kg and thermal-imaging systems (plus docking stations and certain critical parts), while smaller drones face 25%. Liechtenstein Angle: Liechtenstein is named among allies getting a 15% cap on qualifying drone imports, but only if “substantially all” critical hardware/software/technology originates in the approved countries or the US—so compliance will matter for local and regional supply chains. Policy Mechanics: Most duties start Sept. 3; less-sensitive components follow later (up to Feb. 9, 2027), and Commerce can set an onshoring incentive program tied to new US manufacturing investments. Market Pulse: Drone-related equities in the US jumped on the news, while broader markets stayed cautious. China Response: Beijing rejected US claims of a “transshipment scam,” arguing supply-chain diversification is normal and not automatic “tariff evasion.”

US Drone Tariffs: President Donald Trump signed a Section 232 proclamation imposing duties up to 100% on imported drones and key components, with 100% hitting larger, sensitive models (over 25kg and/or thermal imaging, plus docking stations and certain critical parts) and 25% applying to smaller drones; EU, Japan, Liechtenstein, South Korea, Switzerland and Taiwan face a capped 15% rate, while the UK gets 10%, but only if substantially all core hardware, software and technology originates in the qualifying countries or the US. Timing & Business Impact: Most tariffs start in 21 days (Sept 3), while less-sensitive components get more time (180 days). Liechtenstein Angle: Liechtenstein is explicitly named among the partners eligible for the lower 15% band, making origin rules and supply-chain sourcing crucial for any Liechtenstein-linked drone hardware. Market Reaction: Drone-related stocks reportedly jumped as investors priced in the shift toward US production. Visa Policy (Non-trade): Separately, the EU confirmed visa-free Schengen entry for up to 90 days for citizens of Mauritius and Seychelles, subject to standard border checks.

Drone Tariffs: Trump signed a Section 232 proclamation slapping new duties on drones and key parts, including a 100% tariff on certain larger, thermal-capable systems and a 25% tariff on smaller drones; imports from the EU, Japan, South Korea, Switzerland and Liechtenstein face 15%, while the UK faces 10%, with most measures starting Sept 3. Cybersecurity & Registers: Liechtenstein authorities are taking additional systems offline as a hacking probe widens after an attack hit 31,000 legal entities on a beneficial ownership register; the government says affected data is confidential and has notified entities under GDPR. Food & Ag Tech: RiceTec opened a new greenhouse facility in Alvin, Texas, expanding rice breeding and research capacity, with Liechtenstein’s Princely Family chairing the company’s long-term owner group. Crypto Regulation (Switzerland context): Coverage highlights FINMA’s role in Switzerland’s financial oversight and why crypto firms keep flocking there, as regulators refine crypto frameworks. Trade & Industry (India/EFTA link): India reports export momentum and points to its FTAs, including the EFTA bloc (which includes Liechtenstein), as market access drivers. Travel Fraud Warning: EU ETIAS is delayed again, and authorities warn people not to apply or pay scammers offering “ETIAS” services.

Liechtenstein Cybersecurity: Liechtenstein expands its response to a widening hacking attack, taking additional government systems offline as investigators probe a beneficial ownership register incident affecting 31,000 legal entities. US Crypto Regulation: The SEC has scheduled an Aug. 14, 2026 open meeting that could introduce a tailored “Regulation Crypto Assets” offering regime, potentially letting qualifying crypto projects raise up to $75m with less traditional registration burden. US Solar Supply Chain Trade: Trump’s Section 232 move adds a 15% tariff and minimum import prices on polysilicon and derivatives from Dec. 4, 2026, aiming to strengthen US chip and solar inputs. Switzerland Finance & Crypto Oversight: A look at FINMA highlights Switzerland’s regulatory model and why crypto firms keep flocking to Switzerland’s framework. Vatican Economy Appointments: Pope Leo XIV named new Council for the Economy members, including Liechtenstein’s Princess Gisela Bergmann, underscoring business leadership in church finances. EU Travel Fraud Warning: ETIAS has been delayed again; the EU warns travellers not to apply or pay for fake ETIAS services. India Trade Momentum: India reports ~15% export growth in April–July and points to recent FTAs, including an EFTA bloc deal covering Liechtenstein.

Liechtenstein Cybersecurity: Liechtenstein says its probe into a widening hacking attack has led to more systems being taken offline, including four state systems as a precaution, while authorities submit an initial report to prosecutors and expand enquiries. Crypto Regulation: A new explainer on FINMA highlights Switzerland’s layered approach to supervising banks, insurers and crypto firms, with FINMA at the center of the country’s push to turn regulation into an economic advantage. Beneficial Ownership Risk: The same Liechtenstein cyberattack is linked to disruption of a beneficial ownership register affecting 31,000 legal entities, raising fresh questions about how transparency data can be protected. US Trade Pressure on Europe: Multiple reports track President Trump’s Section 232 move on polysilicon, with a 15% tariff plus minimum import prices from Dec. 4, 2026—measures that could reshape solar and semiconductor supply chains across Europe, including Liechtenstein-linked tariff caps. Local Business & Finance Leadership: Pope Leo XIV appointed new members to the Vatican’s Council for the Economy, including Princess Gisela of Liechtenstein as a business expert, underscoring the principality’s continued financial influence. Digital Economy Watch: Separate coverage looks at the European mobile data price gap and how roaming rules still leave consumers paying different prices by border. Scam Alert: Forbes-branded fake sites and an associated PR agency are reported to be selling guaranteed coverage, with Liechtenstein mentioned in the scam network.

Cybersecurity in Focus: Liechtenstein’s response to a hacking attack on its beneficial ownership register is widening, with four more government financial systems taken temporarily offline (including the VAT e-portal, judicial system, central account register and tax portal) as investigators continue and GDPR-style notifications go out to affected parties. Trade & Industry: The US has signed Section 232 measures on polysilicon and derivatives: a 15% tariff plus minimum import prices (from Dec 4, 2026), with a capped combined rate for imports from Switzerland and Liechtenstein—raising new cost and compliance questions for European supply chains. Finance Regulation: A new explainer on FINMA highlights how Switzerland’s regulator underpins the country’s financial sector scale and its growing reach into digital-asset businesses. Business Integrity: Fake Forbes-branded sites linked to a PR agency are being taken down after paid-for “guaranteed coverage” offers and AI-generated content were flagged. Policy & Environment: A UK-focused piece argues that environmental cooperation should be a priority for any reset with Europe, including rejoining the EEA network. Local Economy & Climate: Drought threatens Rhine shipping, a key trade artery for Switzerland and its cross-border logistics, with knock-on effects for regional business.

Cybersecurity & Finance: Liechtenstein’s response to a hacking attack on its beneficial ownership register is widening fast: four more government financial systems were taken temporarily offline (VAT e-portal, judicial system, central account register, and tax information portal) while investigators continue and affected parties are notified under EU data rules. Trade & Industry: The US is moving to reshape the solar and semiconductor supply chain with a Section 232 package: from Dec. 4, 2026 it adds a 15% tariff on polysilicon derivatives and sets minimum import prices (including $21/kg polysilicon and $0.22/W solar cells), with a capped combined rate for imports from Switzerland and Liechtenstein. Business Leadership (Vatican): Pope Leo XIV confirmed Cardinal Reinhard Marx as head of the Vatican’s Council for the Economy and appointed new members, including Princess Gisela of Liechtenstein and other business experts, as the council oversees budgets and financial structures. Energy & Logistics: Drought is threatening Rhine shipping, a key trade artery for Switzerland and the region that runs through Liechtenstein. Pharma Deal: Gan & Lee’s weight-loss drug rights in Europe were sold to Menarini for up to €726m, boosting the company on the back of the licensing expansion.

US Trade Policy: The US has imposed a 15% tariff on polysilicon derivative imports and set minimum import prices effective Dec. 4, 2026—$21/kg for polysilicon, $100/kg for ingots and wafers, $0.22/W for solar cells, and $0.38/W for modules—under Section 232, aiming to protect national security-linked supply chains. Local Cybersecurity: Liechtenstein’s response to a beneficial ownership register hack is widening: authorities have taken additional government financial systems offline (including VAT, courts, central accounts and tax portals) while prosecutors pursue leads and affected entities are notified under GDPR rules. Energy & Trade Impact: Drought is threatening Rhine shipping, with low water levels raising the risk of disruption to trade routes that matter for Swiss industry and logistics. Finance & Business Links: Pope Leo XIV appointed new members to the Vatican’s Council for the Economy, including H.S.H. Gisela Bergmann of Liechtenstein, who leads Industrie-Und Finanzkontor. Pharma Deal: Gan & Lee’s weight-loss drug rights in Europe were sold to Menarini for up to €726m, boosting the company’s shares. AI & Jobs: A World Bank report flags higher AI job displacement risk in high-income economies than in lower-income countries. Liechtenstein in Global Lists: Liechtenstein is again cited among jurisdictions with tough citizenship rules, reflecting long residence and strong integration expectations.

Liechtenstein Cybersecurity: Liechtenstein’s crisis response to a beneficial ownership register hack is widening: four more government financial systems were taken temporarily offline (VAT e-portal, judicial system, central account register, and tax information portal) while investigators continue and affected legal entities are notified under GDPR. US Trade & Solar Supply Chain: President Trump signed a Section 232 move hitting polysilicon and derivatives with a 15% tariff plus minimum import prices from Dec. 4, 2026—aimed at shoring up US semiconductor and solar inputs; for imports from Liechtenstein, Switzerland, EU states, Taiwan, Japan and South Korea, the combined tariff is capped at 15%. Local Business & Finance: A Liechtenstein-linked beneficial ownership transparency debate is resurfacing as OECD scrutiny of jurisdictions’ data practices continues, with Switzerland and Liechtenstein among those discussed. Corporate Appointments: American Fusion Inc. (OTC: AMFN) named John Gerdin to its board as independent director and strategic advisor, focusing on corporate finance and cross-border capital markets. Travel Rules for Residents: A reminder for travellers: passport validity rules after Brexit also cover Liechtenstein, with at least three months left required for EU/Schengen travel.

Liechtenstein Cybersecurity: Liechtenstein’s beneficial ownership register breach is widening. The government says copies of data tied to about 31,000 legal entities were unlawfully exfiltrated, and the register is temporarily unavailable to external users. Government Response: A newly formed crisis unit has taken additional systems offline as a precaution, including the VAT e-portal, the judicial system, the central account register and the main tax information portal, while investigators continue to hunt for the attackers. Data & Compliance: Authorities have started GDPR-style notifications to affected parties and say there are no signs data was altered or deleted, but confidentiality limits what can be shared publicly. Global Finance Context: The incident lands amid renewed scrutiny of beneficial ownership transparency and security, with the OECD and other watchdogs keeping close tabs on cross-border wealth centres. Corporate Update: American Fusion Inc. (OTC: AMFN) appointed John Gerdin to its board as an independent director and strategic advisor, adding finance and cross-border capital markets experience.

Liechtenstein Cybersecurity: Liechtenstein’s beneficial ownership register breach is widening into a broader systems disruption. After hackers copied data tied to about 31,000 legal entities, the government says no financial data was taken or altered, but several key platforms are now temporarily offline, including the VAT e-portal, a judicial system, the central account register and the main tax portal, while investigators continue to hunt for the attackers. Digital Finance Leadership: Sygnum appoints Reto Marx as CEO for its Singapore business, with Gerald Goh moving to executive chairman for APAC—highlighting Liechtenstein’s role in the group’s licensing footprint and the region’s push in digital-asset banking. Trade & Tariffs: The U.S. is set to impose a 15% tariff and minimum import prices on polysilicon derivatives from Dec. 4, with a 15% combined cap for imports from Liechtenstein and other listed markets—an issue that matters for Liechtenstein-linked supply chains in solar and semiconductors. Cross-border Business Links: Switzerland’s free trade deal with the Philippines (via EFTA, including Liechtenstein) is still underused, with officials pointing to low awareness as a drag on trade growth.