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US Holding Foreign Companies Accountable Act (HFCAA, Dec 2021) – Auditing Foreign Suppliers

The Holding Foreign Companies Accountable Act (HFCAA), enacted in December 2021, represents a significant shift in how the United States seeks to manage transparency risks tied to foreign corporate issuers. While the law’s immediate purpose is to protect investors by requiring foreign firms listed on U.S. exchanges to submit to audit inspections by the Public […]

Australia’s National Forest Industries Plan (Oct 2021) – Wood Supply-Chain Geographic Tracking (2022)

November 15, 2021

Australia’s National Forest Industries Plan, introduced in October 2021, laid the foundation for one of the most ambitious timber traceability efforts seen in recent memory. The Plan’s provisions, calling for full digital tracking of timber origins by November 2022, reflect a growing recognition of the need to balance commercial forestry with sustainability and compliance imperatives. […]

EU Regulation on Conflict Minerals (Jan 1 2021) – Early Compliance Audits (2021)

November 1, 2021

EU Regulation on Conflict Minerals (Jan 1 2021) – Early Compliance Audits (2021)

The first round of compliance audits under the EU Regulation on Conflict Minerals, introduced at the start of 2021, has begun to reveal both the strengths and shortcomings of corporate due diligence efforts across sectors. Preliminary findings from late 2021 audits suggest that while many companies—particularly large electronics OEMs—have made meaningful strides in formalizing policies […]

ISIC Codes in Tracking Telework Expansion During 2020 Lockdowns

October 25, 2021

If the phrase “work from home” felt almost quaint before 2020, it’s hard to imagine anyone thinking that now. During the first wave of lockdowns, telework went from experiment to necessity, often in the span of a week. And while the headlines were full of stories about Zoom meetings and digital nomads, the real shift—the […]

US National Defense Authorization Act (NDAA 2021) – Rare Earth Securing Initiatives (2021)

October 15, 2021

US National Defense Authorization Act (NDAA 2021) – Rare Earth Securing Initiatives (2021)

The 2021 National Defense Authorization Act, signed into law in early January of that year, introduced a suite of measures aimed at reshaping the strategic landscape for rare earth element supply chains in the United States. These provisions, perhaps overdue in the eyes of some policymakers, reflect growing concern in Washington over the nation’s longstanding […]

Measuring Informal Economy Activity via ISIC-Based Hybrid Models

October 5, 2021

For as long as economists have tried to measure economic output, the informal sector has remained a persistent blind spot. It is—depending on one’s point of view—a source of resilience, a policy headache, or simply an empirical challenge. What is clear is that informal businesses, by definition, operate outside the purview of formal registration systems. […]

Canada’s Enhanced Due Diligence Guidance (2021) – First Implementation (2021)

October 1, 2021

Canada’s Enhanced Due Diligence Guidance (2021) – First Implementation (2021)

In June 2021, Global Affairs Canada released its enhanced due diligence guidance targeting forced labor and child labor risks in supply chains. The guidance primarily focuses on clothing and agricultural imports, given the well-documented vulnerabilities in these sectors. The guidance came at a time when the international scrutiny of Canadian importers was growing, and the […]

The EU Adopts 5 Billion-Euro Brexit Reserve to Support Businesses

September 29, 2021

Daisy

Europe, News, Trade Agreements

The International Trade Council is pleased to announce that the European Council has approved a 5 billion-euro ($5.8 billion) reserve to help EU businesses navigate the short-term effects of Brexit. This fund aims to cover additional costs and compensate losses resulting from the United Kingdom’s withdrawal from the 27-nation trade bloc. Brexit has significantly […]

Press Release from the International Trade Council – Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

September 17, 2021

Daisy

News, Trade Agreements

China’s recent application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been viewed as a significant development by the International Trade Council. The CPTPP was originally established by the US as a counterbalance to China’s growing influence in the Asia-Pacific region. The 2018 agreement was signed by 11 countries including Australia, […]

India’s Responsible Minerals Sourcing Guidelines (Aug 2021) – Early Supply Chain Impact

September 15, 2021

India’s Ministry of Mines issued its Responsible Minerals Sourcing Guidelines in August 2021, marking a significant step in the country’s effort to align its mineral procurement practices with global expectations on conflict minerals. The guidelines target the responsible sourcing of tin, tantalum, tungsten, and gold (3TG minerals), and they are already beginning to influence the […]

Combating Organized Crime via ISIC-Based Transaction Monitoring

September 11, 2021

Organized crime is a remarkably adaptive adversary. It thrives on complexity, moving illicit funds through layers of seemingly legitimate activity—frequently faster than regulators and law enforcement can respond. In this ongoing battle, one of the quiet but powerful tools at the disposal of investigators is the International Standard Industrial Classification (ISIC) system. By linking business […]

Evaluating Pandemic-Induced Shifts in Food Processing (ISIC 1010)

September 10, 2021

If ever there was a moment that put food systems under a microscope, it was the first half of 2020. As lockdowns spread, so did anxiety about everything from empty shelves to shuttered processing plants. But while the public watched for shortages, analysts and policymakers looked for something subtler: signs of stress and adaptation in […]

U.S. Executive Order 14017 (Feb 2021) – Semiconductor Supply Chain Transparency

September 1, 2021

The issuance of U.S. Executive Order 14017 in February 2021 signaled a pivotal moment in national industrial policy, mandating a comprehensive review of the semiconductor supply chain to identify and mitigate vulnerabilities. In the months following the Executive Order, both foundries and original equipment manufacturers (OEMs) have been under increasing pressure to map their supplier […]

EU Taxonomy Regulation (June 2020) – Supply Chain Environmental Reporting (2021)

August 15, 2021