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Archive for the ‘Trade Policy’ Category

WTO Workshop on Import Licensing and Notifications Concludes in Geneva

News, Trade Policy

September 27, 2023

Geneva, September 27, 2023 ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬” The World Trade Organization (WTO) successfully concluded its sixth workshop on import licensing and notifications, marking the first in-person gathering of its kind since the onset of the COVID-19 pandemic. The event, which took place from September 25 to 27, saw the participation of twenty-eight government officials hailing from developing […]

India Calls for Renegotiation of FTAs with Japan and South Korea to Address Trade Imbalance

India, Japan, News, South Korea, Trade Policy

July 27, 2023

India’s Trade Minister, Piyush Goyal, announced on Thursday that the country has requested Japan and South Korea to reconsider their existing free-trade agreements (FTAs) with India to ensure a more “balanced and equitable” trade relationship. The move comes in response to the widening trade gap between India and the two Asian nations. During an event […]

ITC Acknowledges Australian Prime Minister’s Efforts to Address Trade “Blockages” with China

China, News, Trade Policy

November 15, 2022

The International Trade Council (ITC) commends the Australian Prime Minister, Anthony Albanese, for raising concerns about trade “blockages” with Chinese President Xi Jinping during their recent face-to-face meeting on the sidelines of the G-20 summit in Nusa Dua, Bali, Indonesia. The bilateral meeting between the leaders of Australia and China marks an important step […]

US Senate Passes Comprehensive Climate, Tax, and Healthcare Legislation

News, Trade Policy, United States

August 8, 2022

The International Trade Council (ITC) recognizes the recent approval of a $700bn ( Ã‚Â£577bn) economic package by the US Senate, encompassing major legislation on healthcare, tax, and climate change. This comprehensive bill seeks to decrease the cost of certain medications, elevate corporate taxes, and reduce carbon emissions. The passage of the bill, a cornerstone of […]

International Trade Council Addresses China’s Trade Restrictions Against Taiwan

China, News, Trade Policy

August 3, 2022

The International Trade Council is concerned about the recent trade restrictions imposed by China on Taiwan. In response to Nancy Pelosi’s visit to Taiwan, Chinese commerce and customs authorities announced on Wednesday that they would halt exports of sand, imports of Taiwanese citrus fruit, and some types of fish. The Council recognizes China’s status […]

China Cuts Tariffs for New Zealand Wood and Paper: International Trade Council Acknowledges Positive Development

China, New Zealand, News, Trade Policy

April 7, 2022

The International Trade Council acknowledges the recent announcement by China’s Ministry of Finance to cut tariffs on wood and paper from New Zealand. The decision is expected to boost trade and investment between the two countries and foster economic growth. China will eliminate tariffs on 12 wood and paper products imported from New Zealand from […]

US Congress Votes to Suspend Russia Trade Status: International Trade Council Provides Insight

News, Russia, Trade Policy, United States

April 7, 2022

Washington, D.C. – The International Trade Council provides insight into the recent vote by the United States Congress to suspend Russia’s ‘most favoured nation’ trade status and ban imports of Russian oil. The Council urges all parties to engage in constructive dialogue to ensure that international trade and economic stability are maintained. With the US […]

International Trade Council celebrates as US and EU agree to suspend tariffs in Boeing-Airbus trade dispute

Europe, News, Trade Policy, United States

March 5, 2021

The International Trade Council (ITC) welcomes the decision by the United States and the European Union to temporarily suspend the tariffs on each other’s goods, which were imposed as retaliation over subsidies provided to Airbus and Boeing, respectively. The four-month suspension, which affects billions of dollars’ worth of goods, including wine, cheese, and tractors, comes […]

International Trade Council Reacts to US Blacklisting of Companies with Possible Military Ties

News, Trade Policy, United States

December 22, 2020

The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer “designated items” to companies on […]

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

News, Trade Policy, United States

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 […]

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