Become a Member

News

Download Our Latest International Trade Reports

Stay Updated with the Latest News from the International Trade Council and Our Members

U.S. Initiates Purchase of 1.2 million Barrels of Oil for Strategic Petroleum Reserve

November 13, 2023

The United States has unveiled plans to acquire 1.2 million barrels of oil, aiming to replenish its Strategic Petroleum Reserve (SPR). The announcement was made by the Department of Energy on Monday. According to the department, the intended purchase involves sourcing oil at an average price of $77.57 per barrel from two companies, following […]

Indo-Pacific Trade Talks Require Further Deliberation

November 13, 2023

U.S. Treasury Secretary Janet Yellen revealed on Monday that negotiations pertaining to the trade section of the Indo-Pacific Economic Framework (IPEF) will necessitate additional work, marking a setback for the Biden administration’s aspirations of announcing substantial progress this week. Addressing a news conference, Yellen acknowledged “very substantial progress” across three of the four key […]

Singapore and Malaysia Forge Ahead with Joint Special Economic Zone in Johor State

November 13, 2023

Singapore and Malaysia have embarked on a collaborative endeavor to establish a Special Economic Zone (SEZ) in Malaysia’s Johor state, strategically located adjacent to the Singaporean border. This initiative aims to fortify economic ties and bolster connectivity between the two nations, especially in the face of global economic challenges. Malaysia has set a tight deadline […]

U.S. Commerce Chief Raimondo to Hold Talks with Chinese Counterpart Wang at APEC

November 13, 2023

In the midst of high-stakes negotiations between U.S. President Joe Biden and Chinese President Xi Jinping, the commerce chiefs of the United States and China are set to convene at the Asia Pacific Economic Cooperation (APEC) forum this week. A spokesperson from the U.S. Commerce Department confirmed that U.S. Commerce Secretary Gina Raimondo […]

Biden and Indonesian President Prepare for High-Stakes Summit Ahead of Xi Meeting

November 13, 2023

Leaders from the United States and Indonesia are gearing up for a pivotal meeting that will set the stage for a much-anticipated face-to-face encounter between U.S. President Joe Biden and Chinese leader Xi Jinping. On Monday, President Biden will host his Indonesian counterpart, Joko Widodo, at the White House, as both leaders prepare for the […]

Indonesia Anticipated to Sustain Trade Surplus in October

November 13, 2023

Indonesia is expected to maintain its trade surplus at $3 billion in October, according to a Reuters poll conducted between November 8 and November 14. This figure represents a slight narrowing compared to the previous month’s surplus of $3.42 billion. The Southeast Asian nation has experienced a weakening trade surplus in recent months, primarily attributed […]

WTO-WIPO Colloquium Empowers Intellectual Property Educators in Geneva

November 13, 2023

The 19th edition of the colloquium for intellectual property (IP) educators commenced on November 13 in Geneva. Co-hosted by the World Intellectual Property Organization (WIPO) and the World Trade Organization (WTO), this capacity-building event, spanning until November 24, has brought together 27 IP educators and researchers from various corners of the globe. The annual colloquium’s […]

China and EU Commerce Officials Engage in Fruitful Discussions on Trade Relations, EVs, and More

November 12, 2023

In a significant development, China’s Commerce Minister, Wang Wentao, engaged in substantive discussions with Thierry Breton, the EU’s industry chief, on various crucial topics related to China-EU trade relations and technological cooperation. The talks, described as “in-depth,” covered a wide range of issues, highlighting the growing importance of the China-EU economic relationship on the global […]

US and Indonesia Explore Potential Partnership for EV Mineral Trade

November 12, 2023

In a significant development, the United States and Indonesia are set to engage in discussions regarding a potential minerals partnership focused on boosting the trade of nickel, a crucial component in electric vehicle (EV) batteries. The talks are slated to take place as Indonesian President Joko Widodo visits the White House for a meeting with […]

Ukraine Boosts Grain Deliveries to Black Sea Ports Through Successful Export Corridor

November 10, 2023

In a recent development, Ukraine has witnessed a significant increase in the number of rail wagons transporting grains to the ports in the Odesa region. This positive trend is attributed to the successful operation of an alternative Black Sea export corridor, as reported by a senior official from Ukrainian Railways. Valeriy Tkachov, the Deputy […]

United States Re-Opens Its Market to Paraguayan Beef Exports After 25-Year Pause

November 9, 2023

In a significant development, the United States is set to resume importing beef from Paraguay after a hiatus lasting a quarter of a century. This eagerly awaited decision was announced by the U.S. embassy in Paraguay on Thursday, following an extensive regulatory review process. President Santiago Pena hailed this milestone as a momentous occasion, […]

WTO to Spotlight Trade’s Vital Role in Climate Action at COP28 in Dubai

November 9, 2023

In a significant move, the World Trade Organization (WTO) is gearing up to emphasize the pivotal role of trade policies in combating climate change at the upcoming UN COP28 Climate Change Conference in Dubai, scheduled from November 30 to December 12. A dedicated portal has been launched to provide information about the WTO’s involvement in […]

EU Aims to Resolve U.S. Steel Dispute, Hoping for Year-End Agreement

November 9, 2023

The European Commission is actively pursuing an agreement with the United States regarding steel and aluminum trade, with the goal of ending U.S. import tariffs on these metals by the close of the year. Commission Vice President Vera Jourova made this announcement, underscoring the European Union’s determination to find a resolution. Negotiations between U.S. […]

Taiwan and Britain Forge New Trade Partnership, Strengthening Global Ties

November 8, 2023

In a significant development, Taiwan and Britain have inked an Enhanced Trade Partnership, signaling their intent to deepen economic cooperation. The move is poised to fortify Taiwan’s position in global trade and enhance its diplomatic relationships with European nations. Taiwan places great importance on its alliance with Britain, despite the absence of formal diplomatic […]

Western Miners Seek Premium Pricing for Rare Earth Metals to Diversify from China

November 8, 2023

Several Canadian, German, and Australian mining companies are aiming to secure premium prices for critical metals, such as rare earths, used in electric vehicles (EVs) and renewable energy sources. Their goal is to offer alternatives to China, which currently dominates the production and pricing of these vital minerals. China’s control over 95% of rare […]

U.S. Lawmakers Call for Tariff Increase on Chinese-Made Vehicles

November 8, 2023

A bipartisan group of U.S. lawmakers is urging the Biden administration to raise tariffs on Chinese-made vehicles and explore measures to prevent Chinese firms from exporting vehicles to the United States through Mexico. In a letter addressed to U.S. Trade Representative Katherine Tai, Representative Mike Gallagher, a Republican who chairs a select committee on China, […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.

About the ITC

Resources

Legal

© 2024 - International Trade Council. A Peak-Body, International Chamber of Commerce.