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Archive for the ‘Supply Chain’ Category

Indonesia Achieves 3.26 million Tons in 2023 Domestic Palm Oil Sales Obligation

Indonesia, News, Supply Chain

January 4, 2024

In a recent announcement, Trade Ministry official Syailendra revealed that Indonesia successfully met its domestic palm oil sales obligation for the year 2023, reaching a notable 3.26 million metric tons. This accomplishment was complemented by the issuance of export permits totaling 25.2 million tons.   Syailendra further disclosed that, out of the granted permits, approximately […]

Global Commodities Traders Vow to Safeguard South American Grasslands at COP28

News, Supply Chain

December 9, 2023

  Eight of the world’s leading commodities traders have made a significant commitment to cease purchasing soy from farms that harm South American grasslands, reinforcing their prior promises to avoid suppliers involved in forest clearing. This landmark announcement was made during the COP28 climate summit.   This pledge holds immense potential for the conservation of […]

U.S. Treasury Secretary Yellen Visits Mexico to Strengthen Cooperation on Fentanyl and Supply Chains

Mexico, News, Supply Chain, United States

December 4, 2023

U.S. Treasury Secretary Janet Yellen is set to embark on a trip to Mexico City from December 5th to 7th, with a focus on enhancing collaboration with Mexican officials to combat illicit finance and the trafficking of fentanyl. Additionally, the visit aims to reinforce Mexico’s role in U.S. supply chains, as stated by Treasury officials. […]

Global Experts Convene to Enhance Supply Chain Resilience

News, Supply Chain

November 21, 2023

In a groundbreaking session held on November 21, experts from the World Trade Organization (WTO) and other international organizations gathered to delve into the concept of supply chain resilience. This meeting, the first in a series of thematic sessions, aimed to establish a comprehensive understanding of supply chain resilience, providing a platform for members to […]

European Gas Prices Surge Amidst Disruption in Supply Chain

Europe, News, Supply Chain

October 30, 2023

European gas markets experienced a significant surge in prices, with the Dutch TTF gas futures index rising by nearly 7% to reach â‚ ¬54 per megawatt-hour. This substantial increase marks the highest level since mid-February and has raised concerns regarding supply stability.   The catalyst for this price hike comes as Egypt reported a complete […]

G-7 Nations Unite to Support Resilient Supply Chains for Energy and Food Amid Global Challenges

News, Supply Chain

October 29, 2023

Trade and economy officials from the Group of Seven (G-7) wealthy democracies reaffirmed their commitment on Sunday to collaborate in ensuring the smooth functioning of supply chains for essential goods such as energy and food, despite prevailing global uncertainties.   In a joint statement, these nations pledged to uphold “a free and fair-trading system based […]

China’s Graphite Export Restrictions Stir Global EV Battery Supply Chain Concerns

China, News, Supply Chain

October 27, 2023

Beijing’s recent move to impose export restrictions on graphite has raised significant concerns within the global electric vehicle (EV) battery supply chain. While China has stated that these restrictions are not specific to any particular sector, industry experts and insiders have highlighted potential challenges, especially for foreign manufacturers of EV battery components who have not […]

U.S. and EU Business Leaders Advocate for Resolution of Trade Disputes and Collaborative Approach to Critical Minerals

Europe, News, Supply Chain, United States

October 16, 2023

Leading business federations from the United States and the European Union have come together to call for constructive dialogue and cooperation as leaders convene for a crucial summit on Friday. The primary agenda includes resolving ongoing disputes stemming from metal tariffs initiated during the Trump administration and bolstering collaboration on essential minerals vital to the […]

Global Trade Leaders Convene to Amplify Support for Trade Finance: A Step Towards Inclusive Global Supply Chains

News, Supply Chain

October 13, 2023

At the heart of vibrant Marrakesh during the esteemed annual assembly of the World Bank Group and the International Monetary Fund, a pressing issue found its way to the forefront of discussions: the critical need to expand access to trade finance, especially for small and women-led businesses striving for a foothold in the global market. […]

WTO Revises 2023 Goods Trade Growth Projection

News, Supply Chain

October 5, 2023

GENEVA (International Trade Council) – The World Trade Organization (WTO) has adjusted its forecast for global goods trade growth in 2023, citing several factors, including inflation, higher interest rates, challenges in the Chinese property market, and the ongoing Ukraine conflict as influencing its outlook. The Geneva-based trade organization announced that it now expects merchandise trade […]

U.S. Trade Deficit Narrows to a Nearly Three-Year Low in August

News, Supply Chain, United States

October 5, 2023

WASHINGTON (International Trade Council) – The United States trade deficit showed a more significant contraction than anticipated in August, primarily driven by a solid increase in exports. This development is expected to bolster economic growth in the third quarter.   According to the Commerce Department’s report on Thursday, the trade deficit shrank by 9.9% to […]

Canada Records Surprising Trade Surplus in August, Rebounding After Port Disruptions

Canada, News, Supply Chain

October 5, 2023

OTTAWA (International Trade Council) – Canada reported an unexpected trade surplus of C$718 million ($521.88 million) in August, marking a swift recovery in trade following labor strikes that led to port closures on the West Coast, according to data released on Thursday. Statistics Canada revealed that higher crude prices and gold transfers to the United […]

International Trade Council expresses its support for Ukraine

News, Supply Chain, Ukrain

March 10, 2022

International Trade Council expresses its support for Ukraine amidst the catastrophic impact of the ongoing war on the country’s economy. The World Bank recently warned that the war in Ukraine would cut global economic growth, and the president of the World Bank, David Malpass, has called it “a catastrophe” for the world. The International Trade […]

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