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Archive for the ‘News’ Category

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 […]

EU Conflict Minerals Regulation Implementation Report (Jan 2021) – Supply Chain Audits (2021)

Supply Chain

February 1, 2021

EU Conflict Minerals Regulation Implementation Report (Jan 2021) – Supply Chain Audits (2021)

The release of the first annual implementation report for the EU Conflict Minerals Regulation in January 2021 provided a timely window into how sectors such as automotive and electronics are responding to the increasingly complex task of auditing their tin, tungsten, tantalum, and gold (commonly referred to as 3TG) supply chains. The Regulation, which came […]

Canada’s Bill C-14 (Modern Slavery Act, Introduced June 2020) – Preemptive Corporate Actions (2021)

Supply Chain

January 1, 2021

Canada’s Bill C-14 (Modern Slavery Act, Introduced June 2020) – Preemptive Corporate Actions (2021)

Since the introduction of Canada’s Bill C-14, the Modern Slavery Act, in June 2020, many retailers and importers have found themselves facing an uncomfortable but necessary reckoning. The bill, though still progressing through the legislative process, has already sent a strong signal: the era of voluntary modern slavery reporting is drawing to a close. For […]

International Trade Council Reacts to US Blacklisting of Companies with Possible Military Ties

News, Trade Policy, United States

December 22, 2020

The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer “designated items” to companies on […]

U.S. National Defense Authorization Act (NDAA) for Fiscal Year 2021 – Supply Chain Security Updates

Supply Chain

December 15, 2020

U.S. National Defense Authorization Act (NDAA) for Fiscal Year 2021 – Supply Chain Security Updates

The signing of the U.S. National Defense Authorization Act for Fiscal Year 2021 in December 2020 marked yet another turning point in the government’s approach to supply chain security, particularly for defense-related industries. While supply chain resilience has long been a concern for the Department of Defense, the NDAA 2021 codified new priorities that reflect […]

EU Circular Economy Action Plan (2020) – Mandatory Supply Chain Material Flows (2021)

Supply Chain

December 1, 2020

EU Circular Economy Action Plan (2020) – Mandatory Supply Chain Material Flows (2021)

The European Union’s Circular Economy Action Plan, first unveiled in March 2020, has quickly become a cornerstone of industrial sustainability policy across the bloc. For manufacturers, particularly those operating within energy-intensive and material-heavy sectors, the Action Plan has introduced not just high-level goals but increasingly detailed expectations for supply chain transparency. One of the most […]

U.S. Uyghur Forced Labor Prevention Act (Signed Dec 2020) – Interim Supply Chain Exclusions (2021)

Supply Chain

November 15, 2020

U.S. Uyghur Forced Labor Prevention Act (Signed Dec 2020) – Interim Supply Chain Exclusions (2021)

The Uyghur Forced Labor Prevention Act, signed into law on December 23, 2020, represents one of the most sweeping attempts by the United States to address allegations of forced labor in global supply chains, particularly those linked to the Xinjiang Uyghur Autonomous Region. The Act places a heavy burden on companies, especially in sectors like […]

Canada’s Bill C-15 (UNDRIP Implementation Act, June 2020) – Indigenous Supply Chain Rights (2021)

Supply Chain

November 1, 2020

Canada’s Bill C-15 (UNDRIP Implementation Act, June 2020) – Indigenous Supply Chain Rights (2021)

The passage of Canada’s Bill C-15, more formally known as the United Nations Declaration on the Rights of Indigenous Peoples Act, marked a significant shift in how natural resource firms must navigate supply chain operations. After its Royal Assent in June 2020, the legislative framework began reshaping expectations for corporate conduct in regions intersecting with […]

International Trade Council celebrates the signing of the UK-Japan Free Trade Agreement

Bilateral Trade Relation, Japan, News, United Kingdom

October 23, 2020

The International Trade Council is pleased to announce the signing of the UK-Japan Free Trade Agreement, which marks the United Kingdom’s first major trade pact after Brexit. The deal is expected to strengthen the trade relationship between the two nations, bringing significant benefits to both countries.   Under the agreement, nearly all exports from the […]

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