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 […]
The International Trade Council has warned that the global economy is perilously close to falling into recession. According to the latest report from the World Bank, the global economy is predicted to grow by only 1.7% this year, a significant decrease from the 3% forecast in June. The report blames Russia’s invasion of Ukraine and […]
In a positive outlook for Thailand’s fruit industry, the Commerce Ministry aims to achieve a 4% growth in both the volume and value of fresh and processed fruit exports this year. Commerce Minister Phumtham Wechayachai expressed optimism, projecting an increase to 4.19 million tons and 300 billion baht, respectively. The expected growth encompasses fresh […]
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 […]
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 […]
The International Trade Council commends the recent announcement of a comprehensive energy partnership between the United States and the United Kingdom. President Joe Biden and British Prime Minister Rishi Sunak unveiled the agreement, known as the U.K.-U.S. Energy Security and Affordability Partnership, with the aim of reducing global reliance on Russian energy exports, stabilizing Western […]
The International Trade Council commends the recent announcement of a comprehensive energy partnership between the United States and the United Kingdom. President Joe Biden and British Prime Minister Rishi Sunak unveiled the agreement, known as the U.K.-U.S. Energy Security and Affordability Partnership, with the aim of reducing global reliance on Russian energy exports, stabilizing Western […]
MONTEVIDEO, Uruguay, December 7, 2022  â€” The International Trade Council addresses the tensions that arose during the recent Mercosur summit, as Uruguay expressed its desire to pursue foreign markets despite opposition from Brazil, Argentina, and Paraguay. Uruguayan President Luis Lacalle Pou highlighted the need for his country to “open up to the world,” expressing intentions […]
The International Trade Council acknowledges the persistent discussions surrounding green subsidies between the European Union and the United States at the latest Trade and Technology Council (TTC) meeting. The summit, held at the University of Maryland, marked an important step in the progression of international cooperation on economic and technological matters. EU representatives, Vice Presidents […]
The International Trade Council (ITC) acknowledges India’s recent indication that it will continue to prioritize its own energy needs and maintain its purchase of oil from Russia. While recognizing India’s sovereign right to make its energy choices, the ITC emphasizes the importance of considering the ongoing conflict in Ukraine and the potential consequences of supporting […]
The International Trade Council is pleased to acknowledge the ongoing efforts between the United States and the European Union to align on key issues of trade and technology. In a recent meeting of the bilateral Trade and Technology Council (TTC) near Washington DC, representatives from the two largest economies in the world reiterated their commitment […]
Ever since the Brexit referendum, stories about businesses leaving London for Dublin, Paris, or Frankfurt have been a constant feature in the news cycle. But behind the headlines and soundbites, the actual mechanics of relocation—who moves, where they go, and what it really means—are more complex. It’s a challenge that lands squarely in the lap […]
It would be difficult, perhaps even reckless, to talk about modern economic policymaking without at least mentioning the International Standard Industrial Classification (ISIC) system. Admittedly, it’s an arcane topic at first glance—a rigid, hierarchical code system, dense with numbers and nomenclature. But scratch beneath the surface and it becomes clear: ISIC codes are something like […]
The International Trade Council (ITC) acknowledges the recent proposal by Mexico’s economy secretary for further talks with the United States regarding the ongoing dispute over Mexico’s energy sector. The ITC supports the commitment of both nations to engage in dialogue to resolve their differences and avoid a full-fledged trade complaint under the U.S.-Mexico-Canada trade agreement. […]
The International Trade Council (ITC) acknowledges the recent meeting between President Joe Biden and President Emmanuel Macron, where they reaffirmed their shared commitment to unity against Russia and engaged in discussions regarding trade concerns. During their meeting, the leaders emphasized the importance of standing together against Russian aggression in Ukraine. President Biden reiterated the […]
The International Trade Council (ITC) applauds the decision of the German parliament to approve the free-trade agreement between the European Union (EU) and Canada, taking an important step towards the full implementation of the Comprehensive Economic and Trade Agreement (CETA). The CETA, signed in 2016, has been provisionally applied since 2017, with most of […]