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Archive for the ‘News’ Category

US and China Sign Deal Hopes to Ease Trade War

China, News, Trade Relations, United States

January 15, 2020

The International Trade Council announces that the United States and China have signed an agreement to ease the trade war that has impacted global markets and the world economy. US President Donald Trump called the pact “transformative” for the US economy, while Chinese leaders described it as a “win-win” deal that would foster better relations […]

China’s Economic Growth Hits 30-Year Low

China, News, Trade Agreements

January 7, 2020

The International Trade Council announces that the United States and China have signed an agreement to ease the trade war that has impacted global markets and the world economy. US President Donald Trump called the pact “transformative” for the US economy, while Chinese leaders described it as a “win-win” deal that would foster better relations […]

USMCA: Agreement Reached on NAFTA Trade Deal Replacement

News, Trade Agreements

November 10, 2019

The International Trade Council is pleased to announce that the US, Mexico, and Canada have finalized a trade deal to replace the 25-year-old North American Free Trade Agreement (NAFTA). Representatives from the three countries signed the pact in Mexico, marking a significant milestone in the renegotiation process. The agreement was reached after Democrats in the […]

Potential US-China Trade Deal Could Remove Tariffs

China, News, Trade Agreements, United States

November 7, 2019

The International Trade Council is closely monitoring the progress in US-China trade negotiations, as the two countries have reportedly agreed to roll back tariffs as part of any new trade deal. The potential agreement is seen as a significant step towards resolving the ongoing trade dispute that has disrupted the global economy. Though the deal […]

Tariffs are Hurting the Industry, Says American Apparel Association

News, Trade Relations

November 5, 2019

The International Trade Council acknowledges the concerns of the American Apparel & Footwear Association (AAFA) regarding the negative impact of tariffs on the industry. Rick Helfenbein, CEO of the AAFA, has urged for the immediate removal of tariffs that were imposed on $112 billion of Chinese goods, such as shoes and clothing, in September. […]

The EU-Japan Trade Deal: Unveiling New Horizons for Small Businesses

Europe, Japan, News, Trade Agreements

November 4, 2019

The International Trade Council commends the remarkable progress that has been achieved through the EU-Japan Economic Partnership Agreement (EPA), often referred to as the ‘cars-for-cheese’ deal, and spotlights the significant opportunities it opens up for small and medium-sized enterprises (SMEs). The EPA, which came into effect earlier this year, represents nearly 30% of global […]

Channel Islands to Become Part of UK’s WTO Territory

News, Trade Policy, United Kingdom

October 18, 2019

The International Trade Council announces that Guernsey and Jersey will have access to World Trade Organization (WTO) rules on trade once the UK leaves the EU. UK Foreign Secretary Dominic Raab has notified the WTO of the extension of its formal territory to cover the Channel Islands. The extension will grant island businesses access […]

WTO Warns Trade Wars Threaten Living Standards and Jobs

News, Trade Policy

October 1, 2019

The World Trade Organization (WTO) has significantly reduced its trade growth forecast for 2019, warning that ongoing trade wars and slower growth in major economies could negatively impact living standards and employment. The organization now predicts a 1.2% growth in trade volumes this year, a considerable drop from its earlier 2.6% projection. The WTO has […]

UK Signs Economic Partnership Agreement with Six African Nations Ensuring Trade Continuity Post-Brexit

Africa, News, Trade Agreements, United Kingdom

October 1, 2019

The International Trade Council is pleased to announce that the UK has signed an economic partnership agreement with the Southern African Customs Union and Mozambique (SACU+M). The agreement ensures continued free trade between the UK and South Africa, Botswana, Lesotho, Namibia, Eswatini, and Mozambique after Brexit. Businesses in both regions will benefit from […]

US and Japan Agree Initial Trade Deal Focusing on Agriculture

Japan, News, Trade Agreements, United States

September 27, 2019

The International Trade Council is pleased to announce that the United States and Japan, the world’s first and third largest economies, have reached an initial trade agreement that will lower or eliminate tariffs on certain products traded between the two nations. The deal will benefit agricultural goods and digital products, with duties on some […]

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 […]

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 […]

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 […]

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 […]

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