Archive for the ‘Trade Policy’ Category

US eliminates plans for 10% tariff on certain types of Canadian aluminium

September 15, 2020

International Trade Council welcomes the decision of the United States to drop the proposed 10% tariff on certain types of Canadian aluminum. The tariff was announced by President Donald Trump just last month, citing a flood of under-priced metal into the country. After determining that imports were likely to decline after an earlier surge, the […]

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 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 […]

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 […]

Potential US-China Trade War Poses Risks to Global Economic Expansion

China, News, Trade Policy, United States

March 12, 2018

The International Trade Council raises concerns over the brewing tariff dispute between China and the United States, warning that such a trade standoff could pose significant risks to the ongoing global economic growth. According to recent data, global trade has expanded at its most rapid pace in six years in 2017. The future outlook […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.