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Taiwan and US Purportedly Working on Trade Deal

May 31, 2022

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 […]

International Trade Council explores India-Russia Rupee-Rouble payment scheme

May 31, 2022

Mumbai, India ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬” 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 […]

International Trade Council Celebrates Israel-UAE Free Trade Agreement

May 31, 2022

The International Trade Council commends Israel and the United Arab Emirates (UAE) on signing a historic Free Trade Agreement (FTA) on Tuesday ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬” 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, […]

International Trade Council Commends UKÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚Â¢s First Trade Agreement with Indiana

May 27, 2022

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 Ã‚Â£1.1bn ($1.4bn) worth of goods that Indiana already purchases from the UK. The agreement was signed by UK Trade […]

EU Corporate Sustainability Reporting Directive (CSRD) Draft (Apr 2022) – Preparing for Compliance

May 15, 2022

EU Corporate Sustainability Reporting Directive (CSRD) Draft (Apr 2022) – Preparing for Compliance

The April 2022 draft of the EU’s Corporate Sustainability Reporting Directive (CSRD) signaled a step change in what is expected from large companies operating within, or with significant exposure to, the European market. It expands environmental, social, and governance (ESG) disclosure obligations in ways that many compliance teams are still grappling to interpret fully. With […]

Biden Pledges $150M to ASEAN to Strengthen Regional Cooperation

May 13, 2022

The International Trade Council reports that US President Joe Biden has committed to investing $150 million in Southeast Asia, supporting infrastructure, security, and anti-pandemic efforts. This announcement comes during the two-day summit held in Washington between the US and the 10-nation Association of Southeast Asian Nations (ASEAN). The goal is to counterbalance China’s increasing influence […]

The ITC’s Global Economic Impact Forum on Ukraine to be Held in Istanbul, July 21-22, 2022

May 11, 2022

Istanbul, Turkey – The Global Economic Impact Forum on Ukraine (TGEIF) will be held on July 21-22, 2022, in Istanbul. This invitation-only event will bring together high-level political, public sector, and business leaders from Fortune 500 companies from across the globe to look at rebuilding Ukraine, discuss investment and trade opportunities, and address the challenges […]

International Trade Council Urges Full Embargo on Russian Energy to Support Ukraine

May 10, 2022

The International Trade Council is urging for a full embargo on Russian energy imports, in order to support Ukraine amidst the ongoing conflict with Russia. Ukraine’s Finance Minister, Sergeii Marchenko, stated that the embargo would make it harder for Russia to finance their military needs, whilst also levelling the playing field between the two countries. […]

US Trade Deficit Reaches Record High Amid Surge in Goods Imports

May 4, 2022

The International Trade Council announces that the US trade deficit has widened to an all-time high in March, as companies relied on foreign producers to meet strong domestic demand. According to the Commerce Department, the gap in goods and services trade grew by 22.3% to $109.8 billion. The widening of the trade deficit during […]

Canada’s Bill C-13 (Digital Charter Implementation Act, 2021) – Supply Chain Data Privacy Implications

May 1, 2022

Canada’s Bill C-13 (Digital Charter Implementation Act, 2021) – Supply Chain Data Privacy Implications

Bill C-13, also known as the Digital Charter Implementation Act, 2021, represents one of the most significant overhauls of Canadian privacy law in decades. With the legislation taking effect in November 2022, many Canadian firms—particularly those engaged in cross-border trade and logistics—have been steadily waking up to its profound implications. For supply chain managers, compliance […]

International Trade Council comments on PakistanÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚Â¢s strategy to boost foreign exchange reserves

April 29, 2022

Karachi, Pakistan – The International Trade Council has announced that Pakistan has a plan in place to boost its shrinking foreign exchange reserves, despite being heavily reliant on imports of essential fuel, cooking oil and pulses. The country’s finance minister, Miftah Ismail, has confirmed that the government has a “strategy” in place to increase its […]

International Trade Council Supports Ukraine Amidst Largest Commodity Shock Since 1970s

April 26, 2022

April 26, 2022 – The International Trade Council (ITC) is concerned about the impact of the Ukraine-Russia war on global commodity prices, with the World Bank forecasting the “largest commodity shock” since the 1970s. The ITC acknowledges the warning from the World Bank and is supportive of Ukraine as it faces this challenging situation. […]

Pakistan Seeks Extension of IMF Programme and Increased Funding

April 26, 2022

Islamabad, Pakistan – The Pakistani Finance Minister, Miftah Ismail, has announced that Pakistan is seeking an increase in the size and duration of its $6bn International Monetary Fund (IMF) programme. Following discussions with the IMF in Washington, Ismail requested that the fund extend the programme for another year and enhance the funding available to Pakistan […]

US “Right to Repair” Bill (Senate 2022) – Implications for Spare-Parts Supply Chains

April 15, 2022

US “Right to Repair” Bill (Senate 2022) – Implications for Spare-Parts Supply Chains

The introduction of the US Senate’s “Right to Repair” bill in early 2022 marked a significant moment in the long-running debate over consumer rights, electronics durability, and supply-chain transparency. For years, advocates had been calling for measures that would curb what they view as artificial barriers to product longevity—whether that means locked-down software, unavailable replacement […]

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

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

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 […]

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