The European Union’s Conflict Minerals Regulation, which came into force in January 2021, was already considered by many to be a landmark in the global effort to reduce the trade in minerals that fund violence and human rights abuses. But as with so many regulatory frameworks, the first year of implementation revealed gaps—practical ambiguities that […]
The International Trade Council (ITC) recognizes the recent approval of a $700bn ( £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 […]
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 […]
When the US Cybersecurity Disclosure Act was signed into law in March 2022, many in the policy and business communities welcomed it as both overdue and, frankly, daunting. The Act’s core requirement—that companies report significant supply-chain-related cybersecurity incidents—was born of growing concern over vulnerabilities that ripple outward from seemingly minor nodes in complex vendor networks. […]
The International Trade Council (ITC) commends US President Joe Biden’s commitment to address the climate crisis, as exemplified by the announcement of a $2.3bn ( £1.9bn) investment plan to enhance infrastructure resilience against extreme weather and natural disasters. As an organization deeply invested in fostering international trade that aligns with sustainability, the ITC supports […]
The International Trade Council is pleased to announce that the Go Global Awards will be held in Tallinn, Estonia in October 2022 in partnership with Enterprise Estonia. The Go Global Awards celebrate companies that drive the global economy forward through their innovative technologies and strategies. Enterprise Estonia, which won last year’s gold award for Best […]
The International Trade Council is pleased to announce that the Go Global Awards will be held in Tallinn, Estonia in October 2022 in partnership with Enterprise Estonia. The Go Global Awards celebrate companies that drive the global economy forward through their innovative technologies and strategies. Enterprise Estonia, which won last year’s gold award for Best […]
The Packaging and Packaging Waste Directive, revised in 2018, has had no shortage of commentary over the past few years. But with the release of the first full year of reporting data through the European Pollutant Release and Transfer Register (E-PRTR) in 2021, the conversation shifted—from theory and regulatory text to data, and what that […]
The International Trade Council (ITC) welcomes the decision of the Canadian government to ban the manufacturing and import of “harmful” single-use plastics. The new regulations, announced on 20 June 2022, will be effective from December 2023 and will prohibit the sale and import of checkout bags, utensils, food-service products with plastic that is difficult to […]
The Uyghur Forced Labor Prevention Act (UFLPA), signed into law in December 2021 and taking effect on June 21, 2022, represents one of the most sweeping efforts by the United States to tackle forced labor concerns in global supply chains, particularly with respect to Xinjiang-origin goods. For apparel importers, this law imposes not only a […]
The International Trade Council acknowledges the importance of the ongoing high-level meeting held by the World Trade Organization (WTO) — the first in 4-1/2 years — which brings together over 120 ministers from the organization’s 164 member countries. The meeting is set to address significant issues such as pandemic preparedness, food insecurity, and overfishing. […]
When the Tariff Accountability Act was signed into law in December 2021, it was, in many respects, a formal acknowledgment of something industry participants and economists had been pointing out for years: that tariffs, though often wielded as blunt instruments of trade policy, generate complex and sometimes unintended ripple effects throughout supply chains. The Act […]
International Trade Council (ITC) announced that the United States and Taiwan are working on a deal to boost economic cooperation, particularly in the areas of trade, agriculture, and supply chains. The move comes after Taiwan was excluded from the US President Joe Biden’s Indo-Pacific Economic Framework (IPEF). According to sources cited by Bloomberg, the proposed […]
Mumbai, India — India is actively exploring the use of dedicated payment mechanisms for trade with Russia, including a potential Rupee-Rouble payment scheme, to enable existing trade obligations in the wake of sanctions imposed on the Kremlin. This move could also open up opportunities for Indian exporters to ramp up sales to Russia, according to […]
The International Trade Council commends Israel and the United Arab Emirates (UAE) on signing a historic Free Trade Agreement (FTA) on Tuesday — the first of its kind between Israel and an Arab country. This milestone comes after the UAE agreed to normalize relations with Israel in 2020 as part of the U.S.-brokered Abraham Accords, […]
London, UK – The International Trade Council has lauded the UK’s first trade agreement with an individual US state, Indiana, as a significant move towards post-Brexit progress. The Memorandum of Understanding (MoU) seeks to enhance the £1.1bn ($1.4bn) worth of goods that Indiana already purchases from the UK. The agreement was signed by UK Trade […]