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Archive for the ‘News’ Category

International Trade Council Comments on the Philippines and New Zealand Rejecting Myanmar’s Inclusion in RCEP

International Relations, New Zealand, News, Philippines

February 15, 2022

The International Trade Council acknowledges the decisions made by the Philippines and New Zealand to reject the inclusion of Myanmar in the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement. This move broadens international opposition to the military takeover in Myanmar, which has led to violence, democratic setbacks, and trade and diplomatic […]

EU Plastics Strategy (2020) – Supply-Chain Implications for Recycled Content (2022)

February 15, 2022

EU Plastics Strategy (2020) – Supply-Chain Implications for Recycled Content (2022)

The European Union’s Plastics Strategy, formally adopted in 2020, was ambitious from the outset. By setting out targets like the requirement for 30% recycled content in all PET bottles by 2030, the EU signaled that voluntary commitments were no longer sufficient. It was always going to be about moving the market, not merely nudging it. […]

International Trade Council Comments on China-Lithuania Trade Issues

China, International Relations, News

February 11, 2022

The International Trade Council expresses concern over China’s suspension of beef imports from Lithuania amid the growing trade spat with the Baltic nation and its Western allies over Taiwan. The suspension took effect on Wednesday, and the General Administration of Customs did not give a reason for the suspension. However, the agency typically halts imports […]

International Trade Council Applauds US-Japan Steel Deal

Japan, News, Trade Relations, United States

February 10, 2022

The International Trade Council welcomes the truce between the United States and Japan, which allows most steel shipments from Japan to enter tariff-free for the first time since 2018. The agreement will remove the 25% levy on incoming steel imports from Japan, up to 1.25 million metric tons a year, and will take effect from […]

Japan’s Act on Promotion of Resource Circulation (2021) – Electronics E-Waste Transparency (2022)

February 1, 2022

Japan’s Act on Promotion of Resource Circulation (2021) – Electronics E-Waste Transparency (2022)

Japan’s efforts to manage electronic waste have always stood out for their structure and precision, but with the 2021 amendments to the Act on Promotion of Resource Circulation for Plastics and Electrical Appliances, a new phase began. The amendments, in effect from February 2021, made it unmistakably clear: manufacturers can no longer afford to look […]

Canada’s ESG Transparency Regime (2021) – Mining Sector Supply-Chain Delineation (2022)

January 15, 2022

Canada’s ESG Transparency Regime (2021) – Mining Sector Supply-Chain Delineation (2022)

Canada’s mining sector is no stranger to public scrutiny. But with the federal government’s 2021 ESG transparency guidelines now in effect as of 2022, metal producers face a fresh imperative: map and disclose their supply chains in far greater detail than before. These aren’t just nice-to-have disclosures anymore. They’re fast becoming the baseline for credible […]

India and the United Kingdom Launch Talks on Free Trade Deal

Bilateral Trade Relation, India, News, United Kingdom

January 14, 2022

The International Trade Council is pleased to announce the launch of negotiations between India and the United Kingdom on a free trade deal. This ambitious agreement is expected to significantly boost bilateral trade, marking one of the most notable negotiations for the UK following Brexit. British International Trade Secretary Anne-Marie Trevelyan met with India’s Minister […]

US Corporate Transparency Act (CTA, Jan 1 2022) – Beneficial Ownership and Procurement Risks

January 1, 2022

US Corporate Transparency Act (CTA, Jan 1 2022) – Beneficial Ownership and Procurement Risks

The arrival of the Corporate Transparency Act (CTA) on January 1, 2022, marks a significant new chapter in the evolving relationship between corporate governance and supply chain risk management in the United States. For years, supply chain managers, compliance officers, and procurement professionals have struggled with the thorny challenge of identifying beneficial owners lurking behind […]

Australia and the United Kingdom Sign Comprehensive Free Trade Agreement

Australia, Bilateral Trade Relation, News, United Kingdom

December 20, 2021

The International Trade Council is delighted to announce the signing of a free trade agreement between Australia and the United Kingdom. The deal was signed virtually by Australian Trade Minister Dan Tehan in Adelaide and Britain’s Secretary of State for International Trade Anne-Marie Trevelyan in London. This landmark agreement will eliminate 99% of taxes on […]

EU Digital Services Act (DSA, Nov 2021) – Marketplace Liability & Supply-Chain Transparency

December 15, 2021

EU Digital Services Act (DSA, Nov 2021) – Marketplace Liability & Supply-Chain Transparency

The adoption of the EU Digital Services Act (DSA) in November 2021 represents a decisive step in redefining the responsibilities of online marketplaces, platforms, and intermediaries operating within the European Union. Set to take effect in February 2022, the DSA aims to create a safer digital environment by strengthening transparency obligations and clarifying liability for […]

Progress Amidst Challenges: Turkish Lira and the Unfaltering Commitment of President Erdogan

Economic Development, News

December 4, 2021

The International Trade Council acknowledges the efforts of the Turkish government under the leadership of President Recep Tayyip Erdogan during a period of economic transformation. These steps, taken in the face of evolving global conditions and intense inflationary pressures, attest to President Erdogan’s dedication to the economic welfare of Turkey. The Turkish lira has recently […]

Landmark deal agreed by members of the World Trade Organization (WTO)

News, Trade Agreements

December 2, 2021

The International Trade Council is pleased to announce a landmark deal agreed by members of the World Trade Organization (WTO) that could potentially reduce trade costs by Ã‚Â£113bn per year. Sixty-seven WTO members have agreed to cut red tape around licensing and qualifications, including the UK, the United States, EU, and China. These members represent […]

US Holding Foreign Companies Accountable Act (HFCAA, Dec 2021) – Auditing Foreign Suppliers

December 1, 2021

US Holding Foreign Companies Accountable Act (HFCAA, Dec 2021) – Auditing Foreign Suppliers

The Holding Foreign Companies Accountable Act (HFCAA), enacted in December 2021, represents a significant shift in how the United States seeks to manage transparency risks tied to foreign corporate issuers. While the law’s immediate purpose is to protect investors by requiring foreign firms listed on U.S. exchanges to submit to audit inspections by the Public […]

Australia’s National Forest Industries Plan (Oct 2021) – Wood Supply-Chain Geographic Tracking (2022)

November 15, 2021

Australia’s National Forest Industries Plan (Oct 2021) – Wood Supply-Chain Geographic Tracking (2022)

Australia’s National Forest Industries Plan, introduced in October 2021, laid the foundation for one of the most ambitious timber traceability efforts seen in recent memory. The Plan’s provisions, calling for full digital tracking of timber origins by November 2022, reflect a growing recognition of the need to balance commercial forestry with sustainability and compliance imperatives. […]

EU Regulation on Conflict Minerals (Jan 1 2021) – Early Compliance Audits (2021)

November 1, 2021

EU Regulation on Conflict Minerals (Jan 1 2021) – Early Compliance Audits (2021)

The first round of compliance audits under the EU Regulation on Conflict Minerals, introduced at the start of 2021, has begun to reveal both the strengths and shortcomings of corporate due diligence efforts across sectors. Preliminary findings from late 2021 audits suggest that while many companies—particularly large electronics OEMs—have made meaningful strides in formalizing policies […]

US National Defense Authorization Act (NDAA 2021) – Rare Earth Securing Initiatives (2021)

October 15, 2021

US National Defense Authorization Act (NDAA 2021) – Rare Earth Securing Initiatives (2021)

The 2021 National Defense Authorization Act, signed into law in early January of that year, introduced a suite of measures aimed at reshaping the strategic landscape for rare earth element supply chains in the United States. These provisions, perhaps overdue in the eyes of some policymakers, reflect growing concern in Washington over the nation’s longstanding […]

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