Sub Featured Story Archives

ICC Celebrates 100 Years, Sets Out Vision for Next Century

Published on May 29, 2019
L-R: Peter Robinson (USCIB), Norine Kennedy (USCIB), Thomas Pletscher (ICC Switzerland)

The International Chamber of Commerce, the oldest and largest component of USCIB’s global business network, celebrated its centennial at a gala event in Paris on May 28. USCIB President and CEO Peter Robinson and Vice President Norine Kennedy were among the hundreds of attendees.

The world business organization was founded in 1919, out of the ashes of World War One, under a commitment by international business to build bridges through cross-border trade and investment and to serve as “merchants of peace.”

On behalf of its 45 million companies worldwide, ICC issued a declaration setting out a vision to shape the future of global business for the next century.

Mirroring the call by ICC’s founders, the declaration sets out guiding principles for ICC as a purpose-driven international organization, working with renewed purpose to “make business work for everyone, every day, everywhere.”

Listing a number of potential upheavals facing the global community – including climate change, digital transformations and rising inequality – the ICC declaration states: “In the years ahead, these disruptions will become increasingly pronounced in the absence of concerted action by global leaders to mitigate negative outcomes and drive collective solutions.”

Click here to read more and get the full declaration.

Ahead of ICC’s Centennial Summit, ICC launched a new work program to fulfill commitments set out in the Centenary Declaration. Leveraging ICC’s global membership in over 100 countries, ICC will execute the work program through five newly created and versatile knowledge hubs deploying five pivotal campaigns to enable business worldwide to secure peace, prosperity and opportunity for all.

“Faced with pressing global challenges in the 21st century, ICC and the global business community can – and must – do more as a force for good in the world,” said ICC Secretary General John W.H. Denton. “We will respond to this imperative with brave and bold action to meet the ambition of our renewed purpose.”

At OECD Ministerial, Business Engages on Digital Transformation

Published on May 29, 2019
L-R: Peter Robinson (USCIB), OECD Secretary General Angel Gurria, Andrew Wyckoff (OECD), Charles Johnston (Citi)

On May 22-23, a strong delegation of global business leaders participated in the 2019 OECD Ministerial Council Meeting, stressing the need for integrated policies that will enable business to fully deliver on the potential from the digital transformation for economies and societies.

This pivotal exchange platform allowed global members and corporate leaders affiliated with Business at OECD (known by the acronym BIAC), part of USCIB’s global network, to convey what business needs from international collaboration to promote both economic growth and inclusion. The high-level dialogue featured multiple interactions with ministers of economy, trade, foreign affairs, and finance from 36 OECD countries and key non-member economies. Senior business leaders – including Peter Robinson, USCIB’s president and CEO, Alexandre Ricard, CEO of Pernod Ricard, BIAC Vice Chair Charles Johnston, managing director of global government affairs with Citi and a USCIB board member, and Saori Dubourg, board member from BASF – formally addressed ministers during the program.

The OECD Ministerial outcomes and adopted instruments reflected critical policy recommendations from the 2019 Business at OECD Statement to Ministers, notably the need to appropriately involve stakeholders as future policy recommendations are developed, guidance that will enable data governance based on trust, and continued support for OECD evidence and facts on tax, competition and trade, including on tracking market distorting support measures and barriers. BIAC commended the adoption of the OECD Artificial Intelligence principles and the creation of an OECD Observatory on AI – business involvement in this area will be critical to achieve innovation in a number of fields including health, environment, and anti-corruption.

While in Paris, USCIB’s Robinson BIAC Secretary General Russel Mills and Senior Director Nicole Primmer attended a reception for ministers at the U.S. Mission to the OECD hosted by U.S. Charge d’Affaires Andrew Havilland. Robinson added that the week’s activities “gave me an opportunity to connect with the OECD leadership, including Jeffrey Schlagenhauf, the newly appointed OECD deputy secretary general from the United States.”

BIAC members also convened for the 5th occasion the current G20 and B20 (Business 20) presidencies to share business recommendations to G20 leaders ahead of the Osaka Summit. The event featured the participation of the Japanese Foreign Minister Taro Kono, Shinya Katanozaka, president and CEO of ANA Holdings, and the OECD’s leadership. Business speakers from BIAC’s French and German national members MEDEF and BDI, its Argentinian observer UIA, and from Accenture also debated views with five G20 sherpas and senior government officials. In this meeting, Business at OECD Chair Phil O’Reilly affirmed the importance of ensuring continuity and frank exchanges across presidencies to achieve tangible outcomes in G20 declarations and implementation actions.

Earlier, the Business at OECD Annual General Assembly brought together BIAC’s executive board, leadership from national organizations from 30 OECD and non-OECD countries, and associate expert groups to discuss our strategic priorities for global governance and national challenges. The meeting also benefited from a conversation with leadership from 12 major BIAC policy groups to present the OECD agenda across critical issues, our business perspectives, and the role the OECD can play in these fields.

Ulrik Vestergaard Knudsen, deputy secretary general of the OECD, gave a keynote address to participants on major OECD initiatives affecting businesses, and Alvaro Pereira, director of the Country Studies Branch of the OECD Economics Department, responded to insights from BIAC’s 2019 Economic Survey, and also shared main themes from the 2019 OECD Economic Outlook.

USCIB Applauds Approval of OECD Principles on Artificial Intelligence

Published on May 22, 2019

Washington, D.C., May 22, 2019 – The United States Council for International Business (USCIB), applauds the Organization for Economic Cooperation and Development’s (OECD) approval on May 22 of the OECD Principles on Artificial Intelligence (AI). Working through Business at OECD (BIAC), a core group of USCIB members participated in a special, 50+ member experts group that was convened to scope these principles. They contributed directly to the development of five complementary, values-based principles for the responsible development and stewardship of trustworthy AI and five recommendations for public policy and international cooperation.

Importantly, these principles are not prescriptive. They highlight human-centered values, fairness, transparency, robust security, and accountability as foundational elements for AI deployment that will ensure inclusive growth, sustainable development and well-being. The principles, which were developed through multistakeholder dialogue involving input from business, government, civil society, the technical community, and labor unions, also recognize the appropriate role of governments in creating an enabling environment for research and development to drive innovation in trustworthy AI. They call upon governments to develop mechanisms to share data and knowledge and programs to equip people with digital skills so they can transition to new employment that will harness AI for economic and societal good. The OECD’s 36 member countries, along with Argentina, Brazil, Colombia, Costa Rica, Peru and Romania, who signed up to the AI Principles at the organization’s annual Ministerial Council Meeting today in Paris, further agreed to cooperate across borders and sectors to share information, and develop international, interoperable standards to ensure safe, fair and trustworthy AI.

“USCIB is honored that its members played a direct role in shaping principles that will enable us to tap the extraordinary potential of Artificial Intelligence in a manner that will improve economic and societal well-being across diverse sectors such as energy and the environment, healthcare, and transportation, to name a few,” said USCIB President and CEO Peter Robinson. “Perhaps most important, these principles include important safeguards that keep human-centered values at the core of AI deployment and prevail upon all ‘AI actors’ to respect democratic values throughout the AI system lifecycle, commit to transparency, and to demonstrate accountability, among other responsibilities. We see a bright future ahead and look forward to the adoption of these principles by OECD members and non-members alike,” added Robinson.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world, generating $5 trillion in annual revenues and employing over 11 million people worldwide. As the U.S. affiliate of the International Chamber of Commerce, the International Organization of Employers and Business at OECD, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

ICC Warns Against Misuse of Incoterms 2020 Rules

Published on May 22, 2019

The International Chamber of Commerce (ICC) is preparing for the publication of Incoterms® 2020, an update of the renowned regulations that define the responsibilities of buyers and sellers operating in the international trade system.

According to ICC, with the launch of Incoterms set for later this year, websites are already claiming to have information or training sessions about the update of its commercial trade terms. As the world business organization, ICC is the originator and sole official publisher of the Incoterms® rules. Any misuse of the terms can lead to costly mistakes. So how can users spot fake Incoterms® rules information? ICC provides three tips to ensure the right details, from the most credible source:

  1. Does it mention ICC? One of the easiest ways to spot a misleading Incoterms® 2020 rules website is to check and see if ICC mentioned at all. As the originator and official publisher of the Incoterms® rules, it is important for business to consult resources directly sourced by ICC.
  2. Words matter: In most cases, websites will make bold predictions about the Incoterms®2020 rules. Speculative sentences, such as “rumors point to changes,” or “it would be very important to change,” are commonplace on these deceptive websites and do not reflect the official position of ICC.
  3. Are they offering training sessions now? ICC urges those using or studying to consult only ICC-supported websites for information pertaining to the Incoterms® rules to ensure application of the right procedure. By registering for non-ICC affiliated training sessions, businesses and other users run the risk of spending money to receive false information.

For more detailed information, visit ICC.

USCIB has established a central information page on its website for all the latest developments surrounding the introduction of Incoterms® 2020. Go to uscib.org/about-incoterms-2020 for more information.

Hampl Discusses China and USMCA at Investor Conference

Published on May 20, 2019

USCIB Senior Director, Investment, Trade and Financial Services Eva Hampl spoke on a panel entitled Trade & Tariffs – Today & Tomorrow at the annual MLP & Energy Infrastructure Conference (MEIC 2019) in Las Vegas last week. The panel, which also included Colin Bird from the Embassy of Canada and Karen Antebi from the Embassy of Mexico, provided a macro perspective on current trade issues. The discussion focused on various issues surrounding China, the importance of the U.S. trade relationship with Mexico and Canada, including the U.S. Mexico Canada Trade Agreement (USMCA),and other trade issues.

According to Hampl, the timing was fortuitous with a lot of activity in the trade policy space. “One of the positive developments included the U.S. administration’s announcement that they would be removing Section 232 steel and aluminum tariffs currently imposed on Mexico and Canada, removing one of the remaining obstacles to Congressional approval of USMCA,” said Hampl.

“Unfortunately, as one set of tariffs was removed, the tariffs under Section 301 against China were escalated,” she added.

After the Administration increased tariffs on the list of $200 billion worth of Chinese imports from 10% to 25% on May 10, China retaliated by increasing tariffs on $60 billion worth of U.S. goods, which will take effect on June 1.

Earlier this month, USCIB issued a statement urging the Administration to refrain from continuing to escalate the trade fight with China.

Annual Proskauer Lecture Analyzes Challenges of Arbitration Community

Published on May 20, 2019

As in previous years, USCIB was honored to co-sponsor the 7th annual Proskauer Lecture on International Arbitration along with Proskauer, Columbia University School of Law’s Center for International Commercial and Investment Arbitration Law and the International Chamber of Commerce (ICC) International Court of Arbitration. Taking place on May 14, the event opened with a welcome by Peter Sherwin from USCIB member law firm, Proskauer, and featured a lecture by widely respected commercial and investment arbitrator Mark Kantor.

The lecture focused on the topic Legitimacy Challenges to International Commercial Arbitration on the Horizon? Kantor reflected on the challenges that the arbitration community is currently facing, including bad press from cases that involve state or state-owned entities with large monetary awards, as well as the lack of diversity in the arbitration industry.

USCIB’s General Counsel, who leads USCIB’s work on Arbitration, Nancy Thevenin gave a closing statement, thanking the co-sponsors and attendees. “The Proskauer lecture series draws globally-renowned experts to educate the international arbitration community in New York, and beyond, on specific topics,” reported Thevenin following the successful event. “Through presentations like Mark’s, the lecture series has become a must-attend event.”

USCIB, or ICC USA, is the U.S. National Committee to the ICC and serves as a contact point in the U.S. for the ICC’s multi-faceted dispute resolution services.

Governments Actively Engaged at WTO E-Commerce Negotiations

Published on May 20, 2019

In an effort to support e-commerce negotiations at the World Trade Organization (WTO), USCIB has been contributing to the Digital Trade Network, led by Nick Ashton-Hart.

Ashton-Hart participated in the Joint Statement Initiative on E-commerce’s (JSI) first substantive negotiating round in Geneva May 13-15, which was based upon a subset of the subjects in the 14 contributions of WTO Members. Topics covered included online consumer protection, electronic authentication and electronic signatures, Electronic transactions framework, domestic regulation, transparency, non-discriminatory treatment of digital products, and many others.

According to Ashton-Hart, the level of engagement was quite high, the tone very constructive and collaborative, and quite a few countries that have not yet tabled proposals said they expect to do so. There was a general view that the services-related elements of the outcome agreement are intended to build upon GATS though it remains an open question what form the agreement will take – not surprising or seen as controversial at the present.

The next session will take place June 18-20, in Geneva, with proposals to be considered due June 6. The session will cover, among other subjects, privacy and data protection, cybersecurity and telecommunications. There will be at least two seminars from industry groups on logistics and the flow of data respectively.

Earlier this year, Ashton-Hart contributed a column in USCIB’s quarterly magazine, International Business, regarding the importance and impact of these global talks on online trade. Click here to view.

USCIB Helps Mark World Trade Week NYC

Published on May 14, 2019
L-R: Chuck Ludmer (CohnReznick), Jonathan Huneke (USCIB)

Each May, in cities across the United States, supporters of international trade gather to mark World Trade Week, which was first proclaimed by President Franklin Delano Roosevelt. USCIB has long championed World Trade Week NYC, and this year was no different.

At a World Trade Week NYC 2019 kickoff breakfast on May 13 at Baruch College’s Weissman Center for International Business, several leading exporters and companies who have achieved success on the global stage were celebrated. Jonathan Huneke, USCIB’s vice president for communications and public affairs, presented WTW NYC’s Global Achievement Award to the accounting firm CohnReznick, which has served as a World Trade Week co-sponsor each year for the past decade. The award was accepted by Charles G. Ludmer, CohnReznick’s chief practice development officer and the private-sector co-chair of World Trade Week NYC 2019.

“Celebrating its centennial this year, CohnReznick has established itself as a cornerstone of international trade in the region and around the world,” Huneke said. “There’s no better ambassador for New York than CohnReznick. And there’s no better ambassador for the firm, and for World Trade Week, than Chuck Ludmer.”

Key speakers at the awards breakfast included Under Secretary of Commerce for International Trade Gilbert B. Kaplan and Al Mangels, president of Lee Spring Co.

Frankie Raddish, senior trade advisor in USCIB’s Trade Service and ATA Carnet Department, also took part in the awards breakfast and a neighboring exhibition by World Trade Week partner organizations. Numerous partners are holding trade-themed events around the New York metropolitan area during the month of May.

Doran Klein Contributes Expertise on Taxation of Digitalizing Economy at Pacific Rim Conference

Published on May 13, 2019

USCIB’s tax expert Carol Doran Klein presented at the ninth annual Pacific Rim Tax Conference on Digital Economy Tax Issues, held May 9-10 in California. Doran Klein’s panel covered the ongoing work on taxation of the digitalizing economy at the Organization for Economic Cooperation (OECD) and the United Nations. The panel provided an overview of the background including Action 1 of the OECD’s Base-Erosion and Profit Shifting (BEPS) project, digital services taxes and other unilateral interim measures, and the different options under consideration at the OECD.

Other topics covered at the conference included: International Aspects of Tax Policy and Enacted Legislation: Did it Work?; Corporate Restructuring in Light of Tax Legislation and BEPS; and Transfer Pricing, Documentation and International Tax. High-level government tax officials from Australia, Canada, India and Vietnam attended the conference as well.

USCIB will be hosting its own tax conference, alongside the OECD and Business at OECD June 3-4 in Washington DC. Now in its 14th year, this annual conference provides a unique opportunity for the U.S. business community to interact with key representatives from the OECD Centre for Tax Policy and Administration (“CTPA”) as well as key members of the OECD’s Committee on Fiscal Affairs.

For more information visit USCIB’s tax conference registration page.

US Business Launches ‘All In’ Initiative to Advance Business Engagement for Global Goals Implementation

Published on May 13, 2019
Geneva Week roundtable

USCIB partnered with the International Chamber of Commerce (ICC) and the International Organization of Employers (IOE) to convene the first ‘All In’ Roundtable on Inclusive Multilateralism, Sustainable Development Goals (SDGs) and Business. USCIB’s ‘All In” Initiative seeks to launch a global conversation on how to strengthen dialogue, partnership and engagement with business to advance implementation of 2015 outcomes.

Over fifty participants from Geneva-based diplomatic missions, UN bodies, NGOs and business joined the event, including:

  • UN High Commissioner for Human Rights Michelle Bachelet
  • Chargé d’affaires, ad Interim, of the U.S. Mission to the United Nations and Other International Organizations Mark Cassayre
  • Secretary General of the International Labor Organization (ILO) Guy Ryder
  • Secretary General of the UN Conference on Trade and Development (UNCTAD) Mukhisa Kituyi
  • UK Ambassador to the UN in Geneva Julian Braithwaite
UN High Commissioner for Human Rights Michelle Bachelet speaks at the All In Roundtable

Expert panelists from the World Intellectual Property Organization (WIPO),UNICEF, the International Union for the Conservation of Nature (IUCN), the UN Global Compact and the Partnering Initiative reflected on two themes that were raised in All In Discussion Starter papers:

– Public Private Partnerships with the UN – Designing for SDG impact

– Leveraging public private sector cooperation on technical and scientific knowledge for targeted SDG implementation

“The event highlighted the diverse variety of working arrangements to engage with non-state actors and the private sector,” said USCIB Vice President for Strategic International Engagement, Environment and Energy Norine Kennedy. “Through the “All In” initiative USCIB will draw on its long experience in the multilateral system to highlight what has worked well and to flag areas where further partnership, improvement and strengthening are needed to speed up and scale SDG impact. “

Further ‘All In’ roundtables are planned for Bangkok and other UN cities, on additional themes, including metrics for impact, infrastructure investment for SDG action and economic empowerment and inclusion. Based on this series of discussions throughout 2019, ‘All In’ will develop a 2020 Action Plan for Inclusive Multilateralism.

The ‘All In’ roundtable took place in conjunction with USCIB’s second annual Geneva Week, May 6-9.