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. and Venezuela Engage in Talks for Potential Oil Sanction Exemptions

October 9, 2023

In a significant development, the United States and Venezuela have advanced in discussions that could lead to sanctions relief for Venezuela. This relief may come in the form of permitting at least one additional foreign oil company to accept Venezuelan crude oil for debt repayment, contingent on President Nicolas Maduro’s return to negotiations with the […]

Empowering Small Businesses: Enhanced Access to Trade Information and Capacity Building in Focus Ahead of MC13

October 9, 2023

The International Trade Council applauds the recent strides made by the Informal Working Group on Micro, Small, and Medium-sized Enterprises (MSMEs), as detailed during their meeting on October 9th, in preparation for the 13th Ministerial Conference (MC13) slated for February 2024. Under the astute guidance of Coordinator Ambassador Matthew Wilson of Barbados, the group has […]

WTO Members Commence Sixth ‘Fish Week’ Ahead of Senior Officials Meeting

October 9, 2023

October 9, WTO members initiated the sixth “Fish Week” of the year, marking the shift into the text-based phase of negotiations aimed at establishing regulations on subsidies linked to overcapacity and overfishing. Director-General Ngozi Okonjo-Iweala and Ambassador Einar Gunnarsson of Iceland, who chairs the negotiations, emphasized the intensifying negotiations in anticipation of the WTO’s Senior […]

Global Markets Exhibit Mixed Reactions Amid U.S. Employment Concerns; Asian Stocks See Cautious Optimism

October 6, 2023

In a climate of persistent economic uncertainty, particularly regarding U.S. employment data, markets across the Asian sphere presented a largely positive front, despite subdued trading activity, the International Trade Council reported on Friday. While Japan’s Nikkei 225 experienced a slight contraction, decreasing by 0.3% to settle at 31,129.06, other key market indicators in the […]

Indonesia to Enhance Customs Oversight on Select Consumer Goods Amidst Rising Imports

October 6, 2023

Indonesia has revealed its intentions to bolster customs monitoring procedures for specific imported goods, encompassing cosmetics, footwear, apparel, toys, and electronics, as part of the country’s efforts to manage its import volume. The decision to introduce this regulation comes in response to concerns raised by business associations regarding a surge in imported goods, which […]

Deputy Director-General Angela Ellard Explores Impact of Technological Advancements on Global Trade

October 6, 2023

At the 2023 Annual WTO Conference organized by the British Institute of International and Comparative Law, Deputy Director-General Angela Ellard delivered a keynote speech highlighting the transformative effects of technological developments on international trade. She emphasized the growing role of services, particularly digitally-delivered services, in the global economy and how new technologies have facilitated trade […]

International Trade Council Highlights Key Trade Facilitation Needs

October 5, 2023

The International Trade Council, based on notifications from developing and least-developed country members, has identified five specific measures within the Trade Facilitation Agreement (TFA) where implementation assistance is most frequently sought for the upcoming two years. This update was presented by the WTO Secretariat during a meeting of the Committee on Trade Facilitation, which was […]

Global Trade Growth Projections Revised Downward by WTO Amidst Manufacturing Slowdown

October 5, 2023

In its latest trade forecast released on October 5th, the World Trade Organization (WTO) has adjusted its projections for global merchandise trade growth in 2023, reflecting a persistent slowdown that commenced in the fourth quarter of 2022. The revised estimate anticipates a modest growth rate of 0.8% for this year, a considerable reduction from the […]

Brazil’s Auto Exports Expected to Decline in 2023 Amidst Argentine Economic Crisis

October 5, 2023

The Brazilian auto export industry is poised for a substantial downturn in 2023, according to the recent announcement by the automaker association, Anfavea. This projected decline comes as a direct consequence of the severe economic challenges currently facing Argentina, a key trading partner. Anfavea, in a statement released on Friday, revised its export projections for […]

Global Trade Growth Forecasts for 2023 and 2024

October 5, 2023

The latest release of the “Global Trade Outlook and Statistics” by the World Trade Organization (WTO) offers revised projections for global trade in 2023 and 2024. In 2023, the WTO has revised its forecast for the growth of world merchandise trade volume, downgrading it to 0.8%. This is less than half of the 1.7% growth […]

WTO Revises 2023 Goods Trade Growth Projection

October 5, 2023

GENEVA (International Trade Council) – The World Trade Organization (WTO) has adjusted its forecast for global goods trade growth in 2023, citing several factors, including inflation, higher interest rates, challenges in the Chinese property market, and the ongoing Ukraine conflict as influencing its outlook. The Geneva-based trade organization announced that it now expects merchandise trade […]

U.S. Trade Deficit Narrows to a Nearly Three-Year Low in August

October 5, 2023

WASHINGTON (International Trade Council) – The United States trade deficit showed a more significant contraction than anticipated in August, primarily driven by a solid increase in exports. This development is expected to bolster economic growth in the third quarter. According to the Commerce Department’s report on Thursday, the trade deficit shrank by 9.9% to […]

Canada Records Surprising Trade Surplus in August, Rebounding After Port Disruptions

October 5, 2023

OTTAWA (International Trade Council) – Canada reported an unexpected trade surplus of C$718 million ($521.88 million) in August, marking a swift recovery in trade following labor strikes that led to port closures on the West Coast, according to data released on Thursday. Statistics Canada revealed that higher crude prices and gold transfers to the United […]

Comoros Makes Strides Towards Concluding WTO Accession Negotiations

October 5, 2023

In the ninth meeting of the Working Party on the Accession of the Union of the Comoros to the World Trade Organization (WTO), held on October 5th, WTO members acknowledged the substantial progress achieved by Comoros in finalizing its WTO accession negotiations. The delegation from Comoros reaffirmed its commitment to overcoming remaining obstacles and signing […]

WTO Members Examine Preferential Rules of Origin to Boost LDC Trade

October 5, 2023

On October 5, the WTO Sub-Committee on Least-Developed Countries (LDCs) delved into the role of preferential rules of origin in expanding trade opportunities for LDCs. The session also featured an experience-sharing segment where representatives from academia and the private sector shed light on the challenges and opportunities LDCs encounter when making use of trade preferences. […]

Record ICE Sugar October Delivery to Primarily Go to China – International Trade Council

October 5, 2023

The International Trade Council reports that a significant portion of the unprecedented physical delivery of sugar by commodities traders upon the expiration of the October futures contract on the Intercontinental Exchange (ICE) will be directed to China, based on information provided by two traders familiar with the transactions. Wilmar International, the Singapore-based food trader […]

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.