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Latest International Trade News

WTO releases report on AI's impact on global trade landscape

The World Trade Organization (WTO) has published a report examining the influence of artificial intelligence on international trade. The study, titled 'Trading with Intelligence: How AI Shapes and is Shaped by International Trade', explores AI's potential to reduce trade costs, transform service trade, and redefine comparative advantages. The WTO highlights the risk of regulatory fragmentation and a growing AI divide, emphasising the need for coordinated governance. The report also underscores the WTO's role in fostering policy coherence and addressing trade-related aspects of AI governance within a multilateral framework.

International Trade weekly highlights—21 November 2024

This week's edition of International Trade weekly highlights includes: the Council of the EU adopting a ban on forced labour products in the Union market, the World Trade Organization (WTO) Committee Reviewing Recent Regional Trade Agreements and Updates, the WTO reporting G20 trade measures trend towards restrictions in 2023–2024, the Chartered Institute of Arbitrators exploring the United Nations Convention on Contracts for the International Sale of Goods application in order to reverse auctions in procurement, and a weekly roundup of HMRC import, export and customs guidance.

TRA proposes anti-dumping measures on US SPVC imports

The Trade Remedies Authority (TRA) has recommended implementing a new trade remedy measure to protect the UK's Suspension Poly(vinyl chloride) (SPVC) industry from harm caused by low-priced imports from the US. The TRA's investigation found that US-made SPVC was undercutting the UK market by an average of 26.79%, causing downward price pressure on domestic producers. The proposed anti-dumping measure includes a provisional duty range of 38.43%-56.01%, with cooperating US exporters receiving lower rates. The TRA's Statement of Essential Facts (SEF) concludes that the UK industry has been and continues to be injured by US SPVC imports. Interested parties have until 3 December 2024 to comment on the SEF through the TRA's public file.

Council of EU adopts ban on forced labour products in Union market

The European Commission's proposal for a regulation has been adopted by the Council of the EU, prohibiting products in the Union market that are made using forced labour from being placed, made available, or exported in the EU market. The regulation establishes a framework for investigating and combating forced labour, including the creation of a risk database by the European Commission. Investigations can be initiated by the Commission for non-EU cases or by Member State authorities for domestic cases. Decisions made by one Member State will apply across the EU under mutual recognition. The regulation will be published in the Official Journal of the European Union, entering into force the following day, with a three-year implementation period.

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