For anyone who has worked with international economic data, the peculiarities of classification systems are all too familiar. Most analysts have, at some point, encountered the tangle of industry codes that form the backbone of any rigorous study of sectoral growth, trade flows, or productivity. At the global level, the International Standard Industrial Classification (ISIC) […]
The International Trade Council (ITC) welcomes the decision by the United States and the European Union to temporarily suspend the tariffs on each other’s goods, which were imposed as retaliation over subsidies provided to Airbus and Boeing, respectively. The four-month suspension, which affects billions of dollars’ worth of goods, including wine, cheese, and tractors, comes […]
Sydney, 1 March 2021 – The International Trade Council (ITC) expresses its concern over the recent 61% drop in Chinese investment in Australia in 2020, marking a six-year low. The drop comes amid growing diplomatic tensions between the two countries, and signals a major challenge to Australia’s economy, which has long benefited from Chinese investment. […]
With the Royal Assent of the U.K. Environment Bill on November 9, 2020, attention has turned swiftly to the practicalities of implementation. The bill represents one of the most significant overhauls of environmental governance in the United Kingdom in decades. While much of the public focus has been on biodiversity, air quality, and water management, […]
Washington, D.C. – The International Trade Council has welcomed President Joe Biden’s order for officials to find ways to bolster supply chains amidst the global shortage of computer chips that has hit car manufacturers around the world. The initial review is focused on computer chips, pharmaceuticals, rare earth minerals, and large batteries, such as those […]
In the wake of the pandemic, digital commerce seemed to leap forward by years in just a matter of months. Across every city and town, new online storefronts sprang up—some launched by entrepreneurs with no retail background, others by established brands forced to rethink everything from logistics to customer service. For economists and analysts, capturing […]
The enactment of the U.S. Corporate Transparency Act (CTA) in December 2020 marked a pivotal development in efforts to combat financial crime, with ripple effects now reaching deeply into supply chain governance. While the legislation’s immediate intent focused on preventing money laundering and terrorist financing, its requirements for beneficial ownership disclosure create a significant opportunity—and […]
The release of the first annual implementation report for the EU Conflict Minerals Regulation in January 2021 provided a timely window into how sectors such as automotive and electronics are responding to the increasingly complex task of auditing their tin, tungsten, tantalum, and gold (commonly referred to as 3TG) supply chains. The Regulation, which came […]
The International Trade Council has expressed concern over China’s shortfall in meeting its commitment to purchase an extra $200 billion worth of US goods over 2020 and 2021. This commitment was part of a phase one trade deal aimed at resolving the trade war between the world’s two largest economies. The agreement saw China […]
The introduction of the Food Supply Chain Resiliency Act in November 2020 marked a turning point in U.S. agricultural policy thinking, or at least it signaled a new sense of urgency. The proposal, as drafted, aimed to create national transparency across critical food production layers, from farm to processor. While the Act has not yet […]
The urgency of vaccine development during the pandemic brought research spending into public view as rarely before. Headlines trumpeted billion-dollar pledges, but behind every news release was a web of laboratories, biotech firms, and academic partners. For economists and policy analysts wanting to trace where the money actually went—and how much of it targeted vaccines […]
Since the introduction of Canada’s Bill C-14, the Modern Slavery Act, in June 2020, many retailers and importers have found themselves facing an uncomfortable but necessary reckoning. The bill, though still progressing through the legislative process, has already sent a strong signal: the era of voluntary modern slavery reporting is drawing to a close. For […]
Brussels, 28 December 2020 – Ambassadors from the 27 EU member states have given their unanimous approval to the EU-UK post-Brexit trade deal, paving the way for it to come into force on 1 January. The UK Parliament is expected to approve it on 30 December. Under EU rules, it can take effect provisionally, […]
The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer “designated items” to companies on […]
The signing of the U.S. National Defense Authorization Act for Fiscal Year 2021 in December 2020 marked yet another turning point in the government’s approach to supply chain security, particularly for defense-related industries. While supply chain resilience has long been a concern for the Department of Defense, the NDAA 2021 codified new priorities that reflect […]
The European Union’s Circular Economy Action Plan, first unveiled in March 2020, has quickly become a cornerstone of industrial sustainability policy across the bloc. For manufacturers, particularly those operating within energy-intensive and material-heavy sectors, the Action Plan has introduced not just high-level goals but increasingly detailed expectations for supply chain transparency. One of the most […]