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Archive for the ‘News’ Category

International Trade Council concerned over China’s suspension of economic dialogue with Australia

Australia, China, News, Trade Relations

May 6, 2021

The International Trade Council has expressed concern over China’s decision to “indefinitely” suspend key economic dialogue with Australia, calling it the latest in a growing diplomatic rift between both countries. This move has escalated tensions between Australia and China, which have been on the decline since Australia called for a probe into the origins of […]

U.K. Future Generations Bill Proposal (Nov 2020) – Sustainability Requirements in Government Procurement (2021)

Supply Chain

May 1, 2021

U.K. Future Generations Bill Proposal (Nov 2020) – Sustainability Requirements in Government Procurement (2021)

The U.K. Future Generations Bill, introduced in draft form in November 2020, aims to weave long-term sustainability into the fabric of public policy. Although the bill was still making its way through Parliament during 2021, its draft guidance was already shaping how public procurement frameworks were evolving and how businesses, especially SMEs, were positioning themselves […]

U.S. National Defense Authorization Act (NDAA 2021) – Rare Earth Mineral Security (2021)

Supply Chain

April 15, 2021

U.S. National Defense Authorization Act (NDAA 2021) – Rare Earth Mineral Security (2021)

The 2021 National Defense Authorization Act marked another step in the ongoing attempt to untangle U.S. defense supply chains from strategic dependencies that could compromise national security. Nowhere is this more visible than in the field of rare earth elements (REEs). These critical minerals underpin everything from missile guidance systems to communications gear. And yet, […]

EU Taxonomy Regulation Delegated Acts (Apr 2021) – Supply Chain Alignment (2021)

Supply Chain

April 1, 2021

EU Taxonomy Regulation Delegated Acts (Apr 2021) – Supply Chain Alignment (2021)

The adoption of the EU Taxonomy Regulation’s delegated acts in April 2021 represented a turning point in how financial institutions are expected to engage with sustainability within their portfolios. While the taxonomy itself had been in force since mid-2020, these delegated acts added the critical operational detail necessary for firms to begin aligning their lending […]

International Trade Council reports $9.6bn of goods is held up each day due to the Suez Canal blockage

News, Transport and Logistics

March 26, 2021

The International Trade Council has reported that an estimated $9.6bn ( £7bn) worth of goods are held up every day due to the stranded Ever Given mega-container ship in the Suez Canal. The canal is a vital passageway between the East and West, with approximately 12% of total global trade moving through it. Shipping expert […]

Abu Dhabi investment fund has agreed to pay £800m into the UK life sciences sector

Foreign Investments, News, United Kingdom

March 24, 2021

Abu Dhabi Investment Fund Mubadala has committed to investing £800 million in the UK’s life sciences sector over five years, marking the first of what could be several billion pounds of investments in the UK. Abu Dhabi is also reportedly planning to invest heavily in British health, tech, green energy, and infrastructure. The exact size […]

British Exports to Ireland Suffer Significant Decline as Post-Brexit Trading Kicks Off

Economic Relations, Ireland, News

March 18, 2021

The Republic of Ireland recorded a 65% decrease in British imports, resulting in almost â‚ ¬1bn ( £856m) less of British goods in January 2021, in contrast to the same period last year, according to the Central Statistics Office of Ireland. The decline was even steeper for food imports, which plummeted by 75%, marking a […]

Canada’s Sustainable Jobs Act (Bill C-12, June 2020) – Supply Chain Skills Transparency (2021)

Supply Chain

March 15, 2021

Canada’s Sustainable Jobs Act (Bill C-12, June 2020) – Supply Chain Skills Transparency (2021)

The introduction of Canada’s Sustainable Jobs Act, known as Bill C-12, back in June 2020 set the stage for a legislative framework that aims to guide the country through the complexities of a just transition toward a low-carbon economy. While the bill is still pending passage, the expectations it has already generated are shaping decisions […]

International Trade Council celebrates as US and EU agree to suspend tariffs in Boeing-Airbus trade dispute

Europe, News, Trade Policy, United States

March 5, 2021

The International Trade Council (ITC) welcomes the decision by the United States and the European Union to temporarily suspend the tariffs on each other’s goods, which were imposed as retaliation over subsidies provided to Airbus and Boeing, respectively. The four-month suspension, which affects billions of dollars’ worth of goods, including wine, cheese, and tractors, comes […]

International Trade Council Expresses Concern over Plummeting Chinese Investment in Australia

Australia, China, Foreign Investments, News

March 1, 2021

Sydney, 1 March 2021 – The International Trade Council (ITC) expresses its concern over the recent 61% drop in Chinese investment in Australia in 2020, marking a six-year low. The drop comes amid growing diplomatic tensions between the two countries, and signals a major challenge to Australia’s economy, which has long benefited from Chinese investment. […]

U.K. Environment Bill (Nov 2020) – Waste and Resource Efficiency Reporting for Supply Chains (2021)

Supply Chain

March 1, 2021

U.K. Environment Bill (Nov 2020) – Waste and Resource Efficiency Reporting for Supply Chains (2021)

With the Royal Assent of the U.K. Environment Bill on November 9, 2020, attention has turned swiftly to the practicalities of implementation. The bill represents one of the most significant overhauls of environmental governance in the United Kingdom in decades. While much of the public focus has been on biodiversity, air quality, and water management, […]

International Trade Council welcomes Biden’s 100-day review amid supply chain strains

News, Supply Chain

February 24, 2021

Washington, D.C. – The International Trade Council has welcomed President Joe Biden’s order for officials to find ways to bolster supply chains amidst the global shortage of computer chips that has hit car manufacturers around the world. The initial review is focused on computer chips, pharmaceuticals, rare earth minerals, and large batteries, such as those […]

U.S. Corporate Transparency Act (CTA, Dec 2020) – Beneficial Ownership for Supply Chain Verification (2021)

Supply Chain

February 15, 2021

U.S. Corporate Transparency Act (CTA, Dec 2020) – Beneficial Ownership for Supply Chain Verification (2021)

The enactment of the U.S. Corporate Transparency Act (CTA) in December 2020 marked a pivotal development in efforts to combat financial crime, with ripple effects now reaching deeply into supply chain governance. While the legislation’s immediate intent focused on preventing money laundering and terrorist financing, its requirements for beneficial ownership disclosure create a significant opportunity—and […]

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Important Disclaimer: The International Trade Council is not affiliated in any way with the International Trade Centre. The International Trade Centre is a joint subsidiary organ of the United Nations (acting through UNCTAD) and the World Trade Organization. The International Trade Council is an independent peak-body chamber of commerce acting on behalf of its member businesses and governments. If you are looking for the International Trade Centre, please visit www.intracen.org.