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Archive for the ‘News’ Category

UK Joins CPTPP Trade Bloc, Expanding Economic Opportunities in the Asia-Pacific Region

International Trade, News, United Kingdom

March 31, 2023

The International Trade Council is pleased to announce that the United Kingdom has successfully joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). After 21 months of negotiations, the UK has become the first non-founding member of the 11-nation trade bloc, which includes Japan, Australia, Canada, Mexico, Vietnam, and Malaysia. This significant achievement expands […]

Growth in ‘Green Goods’ Amid Global Trade Slowdown

News, Sustainable Trade

March 28, 2023

The International Trade Council (ITC) acknowledges the recent findings from UNCTAD’s Global Trade Update, which highlight a slowdown in global trade in 2022. However, the report also brings attention to a silver lining in the form of ‘green goods,’ which showed significant growth, defying the overall downward trend.   Global trade hit a record $32 […]

International Trade Council Announces China’s Lifting of Brazilian Beef Import Ban Ahead of Lula’s Visit

Brazil, China, News, Trade Relations

March 24, 2023

The International Trade Council welcomes China’s agreement to immediately resume imports of Brazilian beef, which were halted voluntarily by Brazilian authorities on February 23, following the discovery of an atypical case of mad cow disease. This decision comes days ahead of Brazilian President Luiz Inacio Lula da Silva’s visit to China to expand trade relations […]

EU CAP Strategic Plans (2023–2027) – Agricultural Supply Chain Reporting

Supply Chain

March 22, 2023

EU CAP Strategic Plans (2023–2027) – Agricultural Supply Chain Reporting

With the new Common Agricultural Policy (CAP) strategic plans now in force since January 2023, the European Union has taken a definitive step toward making agricultural supply chains more transparent. The strategic plans for 2023–2027 introduce a layered set of obligations for member states, particularly around reporting data on farm inputs. The intention is clear […]

ITC Acknowledges Sri Lanka’s $3bn IMF Bailout as a Step towards Economic Stability

Economic Development, News, Sri Lanka

March 20, 2023

The International Trade Council (ITC) recognizes the recent $3bn ( £2.4bn) bailout provided to Sri Lanka by the International Monetary Fund (IMF) as a crucial lifeline for the country amidst its severe economic crisis.   Sri Lanka’s struggling economy, compounded by the impact of the pandemic, rising energy prices, populist tax cuts, and high inflation, […]

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

Supply Chain

March 8, 2023

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

Since the passage of the National Defense Authorization Act (NDAA) in January 2021, there has been heightened attention to the vulnerabilities in the rare earth element (REE) supply chains. Section 817, in particular, represents one of the more decisive policy moves aimed at fortifying the United States’ position in securing these critical inputs. The provision […]

International Trade Council Highlights Record High US-China Trade Amid Rising Tensions

China, International Trade, News, United States

February 28, 2023

Despite escalating diplomatic tensions, trade between the United States and China reached a record high in 2022, with imports and exports totaling $690.6 billion, according to official figures. This development showcases the continued interdependence between the world’s two largest economies, even in the context of an ongoing trade war since 2018. The new data reveals […]

EU Single-Use Plastics Directive (2019) – EPR Implementation (2022)

Supply Chain

February 22, 2023

EU Single-Use Plastics Directive (2019) – EPR Implementation (2022)

The year 2022 marked a significant turning point in the enforcement of Extended Producer Responsibility (EPR) provisions under the EU’s Single-Use Plastics Directive of 2019. For beverage manufacturers, the shift was more than just regulatory noise—it forced a deeper reckoning with supply chain transparency and accountability. Producers of plastic beverage containers, among others, now carry […]

Canada’s Digital Charter Implementation Act (2022) – Supply Chain Data Privacy

Supply Chain

February 8, 2023

Canada’s Digital Charter Implementation Act (2022) – Supply Chain Data Privacy

The passage of Canada’s Digital Charter Implementation Act, better known as Bill C-27, in November 2022 has stirred fresh debate among logistics professionals, legal experts, and policymakers alike. Its implications for supply-chain data privacy are only beginning to be fully digested. At its core, the legislation aims to modernize privacy law, introducing stricter standards for […]

Japan’s Act on Promotion of Resource Recycling (2020) – E-Waste Supply Chain Transparency (2022)

Supply Chain

January 25, 2023

Japan’s Act on Promotion of Resource Recycling (2020) – E-Waste Supply Chain Transparency (2022)

The issue of e-waste, though hardly new, has in recent years grown into something of an unavoidable topic within both regulatory and corporate circles in Japan. The 2020 Act on Promotion of Resource Recycling was designed with a clear objective: to move beyond scattered initiatives and impose a coherent framework that would drive transparency and […]

Secretary Grant Shapps Expresses Concern Over Potential Impact of Biden’s Green Subsidies on Global Trade

International Trade, News

January 20, 2023

The International Trade Council (ITC) takes note of the recent statements by Business Secretary Grant Shapps expressing concern that President Joe Biden’s green subsidies could potentially lead to a rise in protectionism, which could prove “dangerous” for world trade. The President’s $430bn ( £350bn) scheme, inclusive of tax credits for green technologies, is aimed at […]

US Uyghur Forced Labor Prevention Act (UFLPA, June 2022) – First Compliance Reports

Supply Chain

January 11, 2023

US Uyghur Forced Labor Prevention Act (UFLPA, June 2022) – First Compliance Reports

By the close of 2022, the first compliance reports under the US Uyghur Forced Labor Prevention Act had begun to trickle in, offering a preliminary glimpse into how importers—particularly in the apparel and textile sectors—are responding to one of the most stringent supply chain due-diligence mandates in recent memory. The UFLPA, which came into force […]

Germany’s Supply Chain Act (LkSG, Jan 2023) Final Regulations – Updated Practical Guide

Supply Chain

December 28, 2022

Germany’s Supply Chain Act (LkSG, Jan 2023) Final Regulations – Updated Practical Guide

With the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, or LkSG) set to take effect in January 2023, the final implementing regulations released in December 2022 offer long-awaited clarity for firms grappling with compliance preparations. These rules, issued after months of consultation and revision, provide more precise direction on risk-assessment thresholds, reporting requirements, and documentation […]

EU Corporate Sustainability Reporting Directive (CSRD, Draft 2022) – Stakeholder Feedback Summaries

Supply Chain

December 14, 2022

EU Corporate Sustainability Reporting Directive (CSRD, Draft 2022) – Stakeholder Feedback Summaries

The EU’s Corporate Sustainability Reporting Directive (CSRD) draft, which underwent public consultation during the first half of 2022, has attracted widespread attention across industries, investor circles, and civil society groups. The feedback collated and analyzed by mid-2022 presents, in some ways, a surprisingly coherent set of demands, though naturally the nuances are where things get […]

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