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Archive for the ‘News’ Category

UK Government Announces Plans for 10 Free Ports Post-Brexit

News, Trade Policy, United Kingdom

August 2, 2019

The International Trade Council has noted the UK government’s plans to establish up to 10 free ports across the country following Brexit. Free ports allow firms to import goods and re-export them outside standard tax and customs regulations, fostering trade and economic growth. The last UK free ports were in operation in 2012, and Prime […]

Canada’s Bill C-69 (2018) – Impact on Mining Project Supply Chain Permits (2019)

August 1, 2019

Canada’s Bill C-69 (2018) – Impact on Mining Project Supply Chain Permits (2019)

The coming into force of Canada’s Bill C-69 in August 2019 marked, as many would cautiously agree, a significant turning point in how mining projects must approach environmental assessments and related supply chain transparency. It’s not merely about satisfying regulatory requirements on paper; there is now, arguably, a heightened expectation for firms to demonstrate how […]

EU Climate Law (June 2019) – Supply Chain GHG Reporting Obligations (2019)

July 15, 2019

EU Climate Law (June 2019) – Supply Chain GHG Reporting Obligations (2019)

The adoption of the EU Climate Law by the European Parliament in June 2019 signaled, in no uncertain terms, a new era of regulatory expectations for greenhouse gas reporting. For large manufacturing firms, the change was both anticipated and, to some extent, quietly dreaded. After all, while many companies had long acknowledged the importance of […]

U.S. Trying to Combat Illegal Fishing Act (TIFFA, 2018) – Seafood Supply Chain Transparency (2019)

July 1, 2019

U.S. Trying to Combat Illegal Fishing Act (TIFFA, 2018) – Seafood Supply Chain Transparency (2019)

The passage of the Trying to Combat Illegal Fishing Act (TIFFA) in December 2018 marked a significant shift in U.S. policy toward tightening seafood supply chain controls. By mid-2019, seafood importers and processors found themselves grappling with a new and demanding compliance landscape. The Act’s core requirement—that all seafood imports be traceable to the port […]

EU and Mercosur Reach Landmark Trade Deal After Two Decades of Negotiations

Europe, News, Trade Policy

June 28, 2019

The International Trade Council is thrilled to announce that the European Union (EU) and the South American economic bloc Mercosur have reached a monumental trade agreement after 20 years of negotiations. The deal represents the EU’s largest to date and demonstrates a commitment to rules-based trade amid ongoing trade tensions between the US and China. […]

India Imposes Retaliatory Tariffs on US Products

India, News, Trade Policy, United States

June 15, 2019

The International Trade Council acknowledges India’s decision to impose tariffs on 28 US products, including almonds and apples, effective from Sunday. These new duties, with some reaching as high as 70%, are a response to Washington’s refusal to exempt Delhi from higher taxes on steel and aluminum imports. Earlier this month, US President Trump announced […]

U.K. Modern Slavery Act (2015) – Ongoing Review & Emerging Best Practices (2019)

June 15, 2019

U.K. Modern Slavery Act (2015) – Ongoing Review & Emerging Best Practices (2019)

As the U.K. Home Office initiated its second formal review of the Modern Slavery Act in late 2019, many companies across sectors found themselves reflecting, perhaps with some unease, on the adequacy of their current compliance strategies. There has been, for some time, an undercurrent of frustration in certain corners of industry regarding the difficulty […]

UK Secures First Post-Brexit Free Trade Agreement with South Korea

News, South Korea, Trade Agreements

June 10, 2019

The International Trade Council is pleased to announce that the United Kingdom has signed a preliminary free trade agreement (FTA) with South Korea, the first post-Brexit trade deal secured by the UK in Asia. The agreement seeks to maintain existing trade arrangements and provide stability under a no-deal Brexit scenario. International Trade Secretary Liam […]

US Terminates Preferential Trade Status for India Amid Tariff Dispute

India, News, Trade Policy, United States

June 1, 2019

The International Trade Council acknowledges President Donald Trump’s confirmation that the US will end preferential trade status for India next week. Until now, India has been the largest beneficiary of the Generalized System of Preferences (GSP) program, which allowed $5.6 billion worth of exports to enter the US duty-free. In March, President Trump announced the […]

EU Tariff-Free Textile Quota Revision (May 2019) – Supply Chain Adjustments

June 1, 2019

EU Tariff-Free Textile Quota Revision (May 2019) – Supply Chain Adjustments

The May 2019 revision of the EU’s tariff-free textile quotas was a development that, while not entirely unexpected, prompted a flurry of recalibration across the apparel import sector. Many importers, already navigating a complex patchwork of preferential arrangements, found themselves needing to revisit sourcing strategies with little time to spare. The revision itself—intended, according to […]

US-China Trade War: Tensions Rising

China, News, Trade Relations, United States

May 29, 2019

In light of the ongoing US-China trade war, the International Trade Council is offering insights into potential strategies that Beijing could employ to destabilize President Trump’s approach. Drawing inspiration from Chinese history and ancient strategic manual The Art of War, we delve into a range of tactics that China could utilize in response to the […]

U.S. Executive Order on Strengthening the Cyber Supply Chain (Oct 2018) – Compliance Roadmap (2019)

May 15, 2019

U.S. Executive Order on Strengthening the Cyber Supply Chain (Oct 2018) – Compliance Roadmap (2019)

The cybersecurity landscape for federal contractors shifted markedly after the issuance of Executive Order 13800 on May 11, 2018. Though the order itself was broad in its directive—aiming to enhance the resilience of federal networks and critical infrastructure—it quickly became clear that its real teeth would be felt in the supply chains supporting those networks. […]

International Trade Council: “World Markets React to US-China Trade Tensions”

China, News, Trade Relations, United States

May 9, 2019

The International Trade Council is closely monitoring the impact of US-China trade tensions on global markets. As President Trump vows to double tariffs on $200bn of Chinese goods, stock markets worldwide have experienced significant losses. Japan’s Nikkei 225 index lost 1.5% on Wednesday, following a 1.8% drop in the Dow Jones. European markets also […]

Canada’s Tax Avoidance and Profit Shifting Legislation (Bill C-208, Mar 2019) – Supply Chain Financial Transparency

May 1, 2019

Canada’s Tax Avoidance and Profit Shifting Legislation (Bill C-208, Mar 2019) – Supply Chain Financial Transparency

When Bill C-208 received Royal Assent in June 2019, it marked a notable shift in Canada’s stance on tax avoidance and profit shifting, particularly where cross-border supply chains are concerned. The changes it introduced, especially to transfer pricing rules, were not revolutionary in isolation. But taken together, they represented a tightening of the net—an unmistakable […]

EU Timber Regulation (2013) – Roadmap to EUTR Compliance for Small Furniture Exporters (2019)

April 15, 2019

EU Timber Regulation (2013) – Roadmap to EUTR Compliance for Small Furniture Exporters (2019)

Small furniture exporters operating within or supplying to the European Union found themselves increasingly under scrutiny by mid-2019, as regulators stepped up enforcement of the EU Timber Regulation (EUTR). The regulation, originally adopted in 2013, has long aimed to prevent illegally harvested timber and timber products from entering the EU market. Yet for many smaller […]

U.S. National Trade Estimate Report (Mar 2019) – Supply Chain Barriers Identified

April 1, 2019

U.S. National Trade Estimate Report (Mar 2019) – Supply Chain Barriers Identified

The 2019 National Trade Estimate (NTE) Report, released by the Office of the United States Trade Representative in March, once again drew attention to a range of non-tariff barriers affecting American exporters, particularly in the electronics and automotive sectors. For seasoned trade analysts, much of the content felt familiar—concerns about divergent technical standards, opaque licensing […]

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