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ITC Acknowledges Sri Lanka’s $3bn IMF Bailout as a Step towards Economic Stability

March 20, 2023

The International Trade Council (ITC) recognizes the recent $3bn ( Ã‚Â£2.4bn) bailout provided to Sri Lanka by the International Monetary Fund (IMF) as a crucial lifeline for the country amidst its severe economic crisis. Sri Lanka’s struggling economy, compounded by the impact of the pandemic, rising energy prices, populist tax cuts, and high inflation, […]

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

March 8, 2023

US National Defense Authorization Act (2021) – Rare Earth Element Supply Chain Security

Since the passage of the National Defense Authorization Act (NDAA) in January 2021, there has been heightened attention to the vulnerabilities in the rare earth element (REE) supply chains. Section 817, in particular, represents one of the more decisive policy moves aimed at fortifying the United States’ position in securing these critical inputs. The provision […]

International Trade Council Highlights Record High US-China Trade Amid Rising Tensions

February 28, 2023

Despite escalating diplomatic tensions, trade between the United States and China reached a record high in 2022, with imports and exports totaling $690.6 billion, according to official figures. This development showcases the continued interdependence between the world’s two largest economies, even in the context of an ongoing trade war since 2018. The new data reveals […]

EU Single-Use Plastics Directive (2019) – EPR Implementation (2022)

February 22, 2023

EU Single-Use Plastics Directive (2019) – EPR Implementation (2022)

The year 2022 marked a significant turning point in the enforcement of Extended Producer Responsibility (EPR) provisions under the EU’s Single-Use Plastics Directive of 2019. For beverage manufacturers, the shift was more than just regulatory noise—it forced a deeper reckoning with supply chain transparency and accountability. Producers of plastic beverage containers, among others, now carry […]

Canada’s Digital Charter Implementation Act (2022) – Supply Chain Data Privacy

February 8, 2023

Canada’s Digital Charter Implementation Act (2022) – Supply Chain Data Privacy

The passage of Canada’s Digital Charter Implementation Act, better known as Bill C-27, in November 2022 has stirred fresh debate among logistics professionals, legal experts, and policymakers alike. Its implications for supply-chain data privacy are only beginning to be fully digested. At its core, the legislation aims to modernize privacy law, introducing stricter standards for […]

Japan’s Act on Promotion of Resource Recycling (2020) – E-Waste Supply Chain Transparency (2022)

January 25, 2023

Japan’s Act on Promotion of Resource Recycling (2020) – E-Waste Supply Chain Transparency (2022)

The issue of e-waste, though hardly new, has in recent years grown into something of an unavoidable topic within both regulatory and corporate circles in Japan. The 2020 Act on Promotion of Resource Recycling was designed with a clear objective: to move beyond scattered initiatives and impose a coherent framework that would drive transparency and […]

Secretary Grant Shapps Expresses Concern Over Potential Impact of Biden’s Green Subsidies on Global Trade

January 20, 2023

The International Trade Council (ITC) takes note of the recent statements by Business Secretary Grant Shapps expressing concern that President Joe Biden’s green subsidies could potentially lead to a rise in protectionism, which could prove “dangerous” for world trade. The President’s $430bn ( Ã‚Â£350bn) scheme, inclusive of tax credits for green technologies, is aimed at […]

US Uyghur Forced Labor Prevention Act (UFLPA, June 2022) – First Compliance Reports

January 11, 2023

US Uyghur Forced Labor Prevention Act (UFLPA, June 2022) – First Compliance Reports

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 […]

International Trade Council Issues Warning of Global Recession

January 9, 2023

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 […]

Thai Fruit Exports Set to Flourish with Anticipated 4% Growth

January 4, 2023

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 […]

Germany’s Supply Chain Act (LkSG, Jan 2023) Final Regulations – Updated Practical Guide

December 28, 2022

Germany’s Supply Chain Act (LkSG, Jan 2023) Final Regulations – Updated Practical Guide

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 […]

EU Corporate Sustainability Reporting Directive (CSRD, Draft 2022) – Stakeholder Feedback Summaries

December 14, 2022

EU Corporate Sustainability Reporting Directive (CSRD, Draft 2022) – Stakeholder Feedback Summaries

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 […]

International Trade Council Applauds US-UK Energy Partnership to Boost Natural Gas Exports and Strengthen Energy Security

December 8, 2022

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 […]

U.S.-U.K. Energy Partnership Aims to Boost Energy Security and Drive Down Prices

December 7, 2022

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 […]

International Trade Council Addresses Tensions at Mercosur Summit

December 7, 2022

MONTEVIDEO, Uruguay, December 7, 2022 Ã‚Â ÃƒÂ¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚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 […]

Addressing Green Subsidies Concerns at EU-US Tech Summit: A Step Towards Global Trade Harmony

December 6, 2022

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 […]

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