News Stories Archives

USCIB Partners With Ethical Corporation for Responsible Business Summit

Published on February 13, 2017

USCIB is proud to partner with the Ethical Corporation in organizing the 5th Responsible Business Summit in NY. The Summit will take place March 27-28 at the Marriott Brooklyn Bridge. The 2017 conference brings the best, the most innovative and most inspiring brands in responsible business to New York. Click here to see the full agenda.

200+ attendees learn how to deliver purpose for commercial success, the environment and stakeholders.

What you will learn:

  • 3 tracks: In 2017, our aim is to ensure you deliver purpose in the most practical way with 90 minute workshops, live polling and over 15 case studies across 3 dedicated tracks: make the business case, influence culture and accelerating progress.
  • CEOs inspire agenda: in our most senior line-up to date, we have the largest number of CEOs, board members and government leaders sharing their responsible business strategy from North America’s most inspiring and innovative brands.
  • 200+ in attendance: If you are looking for one sustainability meeting to attend in 2017, #RBSNY will be sure to give you the most senior networking opportunity possible.

The conference is currently offering a discount of $100 if you register by March 3rd. Click here to register.

 

USCIB Customs Chair Jerry Cook Featured in American Shipper

Published on February 13, 2017

USCIB’s Customs and Trade Facilitation Committee Chair and Vice President of Government and Trade Relations with Hanesbrands Jerry Cook has recently been featured in American Shipper, publishing a commentary on trade in 2017. Cook writes, “despite predictions that trade will have a diminished future, the reality will likely be much more intense for those managing international supply chains and are responsible for their customs and export compliance.” Cook cites the expectation of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) entering into force as well as potential actions to reopen the North American Free Trade Agreement as forces that will promote growth in 2017.

Cook concludes with an optimistic tone writing that “it is an exciting time for the trade community. The standard is changing, and we can seize the opportunity to manage for success. We need to regain control of our future and work to build that future by upgrading the tools we use, as well as the norms by which we operate.”

Click here to read the rest of his commentary on the American Shipper website.

New Report Warns of High Counterfeiting and Piracy Costs

Published on February 6, 2017

A new report from the International Chamber of Commerce’s BASCAP (Business Action to Stop Counterfeiting and Piracy) initiative and the International Trademark Association (INTA) details the spiraling cost of global intellectual property rights abuses.

The report, titled The Economic Impacts of Counterfeiting and Piracy, estimates that the global economic value of counterfeiting and piracy can reach $2.3 trillion by 2022. Additional costs on social and economic impacts of displaced economic activity, investment and public fiscal losses and criminal enforcement is estimated at $1.9 trillion by 2022.

This report builds on a 2016 report published by the Organization for Economic Cooperation and Development and the European Union Intellectual Property Office, which estimated the value of international trade in counterfeit and pirated products at $461 billion in 2013, approximately 2.5% of all international trade.

“The Frontier report picks up where the OECD/EUIPO left off,” said BASCAP Director Jeffrey Hardy. “Here we have expanded the scope of the work to examine categories of impacts identified and discussed – but not quantified – by the OECD/EUIPO report. Our objective is to capture the full spectrum of economic harm associated with counterfeiting and piracy.”

The report was launched on February 6 in Hong Kong during INTA’s 2017 Anti-counterfeiting Conference.

Read more on the ICC website.

IOE Update: Future of Work Report, IOE Global Employers’ Summit

Published on February 6, 2017

The Future of Work Report

The International Organization of Employers (IOE) has recently published a report on the Future of Work, which presents perspectives on labor market fluctuations in job creation and transformation, technological change and new skills, changes in business models and ways or working, as well as challenges and opportunities in policy-making.  This Report is one of the IOE work products that will inform the B20 Employment and Education Task Force that is co-chaired by USCIB CEO and President Peter Robinson.

The Report states that “institutions will need to be much more ambitious in providing enhanced access to lifelong learning and educational opportunities. To inform investment decisions on education and skills, as well as to inform individual career choices in an ongoing challenging environment, it will be essential to rely on more real-time, finely-tuned, holistic and dynamic data.”

An Executive Summary is available here.

IOE Global Employers’ Summit

Save the date for the second annual IOE Global Employers’ Summit scheduled to take place on May 17 in Bad Neuenahr, Germany. Please contact Linda Kromjong for additional details.

The Summit is organised back-to-back with the G20 Labor Ministerial on May 18-19 in Bad Neuenahr and will bring together high-level representatives from global companies, international organizations, employers’ organizations and institutions, to explore key areas of interest for business in the G20 process, including the economic implications of Brexit, the 2016 U.S. election result, making global supply chains more sustainable, bringing more women and youth into employment, and much more.

The event will conclude with a joint IOE-BDA-ITUC-TUAC-Deloitte dinner with G20 Labour Ministers, which will allow for an informal exchange with Ministers and key policy actors on policy developments and trends.

USCIB in the News: Joint Letter Seeks Fair Play in India

Published on February 6, 2017

USCIB has recently been cited in two articles, the Economic Times India and the International Business Times India,  both of which featured a multi-industry letter that was sent to Congress regarding the United States’ role in ensuring fair play in India for American companies. USCIB joined a group of over twenty eminent American business organizations and industry groups, many of which are also USCIB members. The letter stated that “businesses in the U.S. continue to face an evolving array of tariff and non-tariff barriers, both longstanding and new, which impede businesses and manufactures in the United States from competing fairly in India and creating jobs here at home.”

The letter urges the U.S. government, including Congress, to use all available channels to ensure fair play and to support Indian efforts that align with U.S. goals. The letter emphasized the need to actively use existing as well as new platforms and tools to raise and resolve longstanding issues, including the U.S.-India Strategic and Commercial Dialogue, the U.S.-India Trade Policy Forum, and the WTO dispute settlement.

The letter is available here.

International Business Winter 2017 Issue

Published on February 2, 2017

USCIB’s “International Business” Winter 2017 issue is now live! A web version can be accessed here.

The Winter 2017 issue features USCIB President and CEO Peter M. Robinson‘s column on “Priorities for the Trump Administration,” as well as articles on developments in the G20, APEC and the UN climate talks, plus news from our global network–Business at OECD, the International Organization of Employers and the International Chamber of Commerce.

“International Business,” USCIB’s quarterly journal, provides essential insight into major trade and investment topics, a high-level overview of USCIB policy advocacy and services, USCIB member news and updates from our global business network.

Subscribe to USCIB’s International Business Magazine

Subscriptions to “International Business” are available free upon request to representatives of USCIB member organizations. Contact us to subscribe.

Non-members may subscribe to “International Business” and other USCIB print publications at an annual rate of $50 (U.S.) for domestic delivery, or $75 for overseas delivery. Contact us to subscribe. USCIB’s annual report, studies from the United States Council Foundation and related publications are included with your paid subscription.

Our free electronic newsletter, “International Business Weekly,” provides regular updates on USCIB’s major activities and priorities. Click here to view a sample issue. Click here to subscribe.

We welcome outside submissions and inquiries regarding our publications – send them to news@uscib.org.

We welcome advertising in International Business magazine — special discounted rates for USCIB member organizations! Contact Kira Yevtukhova (kyevtukhova@uscib.org) for more information.

 

New Compliance Guide for Trade Transactions Published

Published on January 30, 2017

The International Chamber of Commerce (ICC) Banking Commission, along with partners, the Wolfsberg Group and the Bankers Association for Finance and Trade (BAFT) recently announced the publication of a revised guidance document on Trade Finance Principles. This broader industry edition now addresses the due diligence required by global and regional financial institutions of all sizes in the financing of international trade.

The document was updated to reflect the growing regulatory expectations, as well as the more stringent application of existing regulations faced by the industry today. The collaborative effort will help standardize the practice of financial crimes compliance for trade transactions.

The publication of this document is the culmination of more than two years of work undertaken by the organizations and their members.

“In keeping with the traditional work of the ICC Banking Commission, this guidance on sound financial crimes risk management for the traditional trade products follows in the steps of the UCP, URC etc. in setting standards by which banks should conduct their trade business and to provide a sound basis for the continuation of the finance of international trade by banks,” said Olivier Paul, head of policy of the ICC Banking Commission.

You can download the paper here.

USCIB in the News: Trump and Global Leadership

Published on January 30, 2017

USCIB was recently cited in a Denver Post opinion piece highlighting President Donald Trump’s signal of “retreat from leading the world.” The op-ed, by Professor Ved Nanda of the University of Denver,  referred to a USCIB statement issued last week regarding Trump’s executive order to withdraw the United States from the Trans-Pacific Partnership. In the statement, USCIB observed that the Asia-Pacific region accounts for 40 percent of the global economy and is a key market for future growth of U.S. companies, in part due to estimates that two-thirds of all middle-class consumers will be in Asia by 2030.

The op-ed also highlighted the need for continue U.S. leadership and closer cooperation with its allies. Click here to access the op-ed on the Denver Post’s website.

USCIB Urges Administration to Maintain Leadership on Trade

Published on January 23, 2017

Harbor_tradeNew York, N.Y., January 23, 2017 – Peter M. Robinson, president and CEO of the United States Council for International Business (USCIB), issued the following statement regarding President Trump’s executive order withdrawing the United States from the Trans-Pacific Partnership:

“While we are disappointed that the United States will not take part in this ambitious and market-opening agreement, we hope this move sets the stage for future trade agreements that build upon the best in the TPP.

“As we noted in USCIB’s American Competitiveness Agenda 2017, which was released earlier today, the Asia-Pacific region is a very important market for U.S. business and the jobs they support. By 2030, two-thirds of all middle-class consumers in the world will be in Asia, so the area continues to be key to the future growth of many U.S. companies and their SME suppliers. We will work with Congress and the Administration to determine the best ways to further open markets in the Asia-Pacific region to U.S. goods and services, including by carrying forward key provisions from TPP.

“Maintaining U.S. leadership in the region should be a strategic priority. Trade relationships provide economic security but also important national security benefits. Letting other nations – including some with very different economic systems and priorities – write the rules in this fast-growing region would be a mistake. Moreover, some of our most important trading partners in the Asia-Pacific region have already ratified TPP or are continuing to undertake reforms consistent with the agreement.

“We encourage the Trump Administration to move quickly in pursuing its plan for the region, both to help American companies and workers compete, and to ensure that regional trade rules are not driven by others. We look forward to working with the Administration in support of these objectives.”

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. As the American affiliate of the International Chamber of Commerce, 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 information is available at www.uscib.org.

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

USCIB in the News

Published on January 23, 2017

ICC United Kingdom, which serves as the British national committee of the International Chamber of Commerce, was featured in the Financial Times on January 18 in response to British Prime Minister Theresa May’s speech on the UK’s position on Brexit. The article, reprinted below, is also available on the FT’s website.

We encourage you to share this with others as well as follow ICC UK on Twitter: @iccwboUK

UK BUSINESS MUST MAKE THE CASE FOR TRADE DURING EXIT TALKS

Sir, Signs that the British government will sacrifice access to the single market during Brexit negotiations are indeed worrying. I find the assertion that “many are now becoming increasingly relaxed about a hard Brexit” (January 17) genuinely concerning. The Brexit negotiations will dictate the future of UK-EU trade relationships, jobs and livelihoods for generations to come.

The UK is one of the largest trading economies in the world, so the impacts will be felt far beyond its and the EU’s borders. Whatever happens, we must all come away with a deal that works for all parties. For business, particularly small and medium-sized enterprises, retaining access to the single market is the best option — keeping red tape, costs and disruption to a minimum. Don’t be conned into thinking the numbers are irrelevant: a 2-3 per cent tariff increase can mean the difference between an SME being successful or going bust. For foreign investors, 2-3 per cent can totally change the business case for investing in the UK. More paperwork means someone has to be paid to fill it in — someone has to pay for that. International businesses do not operate in silos.

UK, EU and non-EU businesses are often intertwined through integrated supply chains that move goods, services and finance across borders. Now is not the time to put up barriers or add costs if we want more trade, jobs and investment. We must all work hard to keep borders open — this is not just a UK priority, but also a G20 priority. Negotiations haven’t even started yet. We need to remain cool headed and must not get comfortable with the idea that the UK will leave the single market. Small businesses need the next best alternative with maximum freedom and minimal red tape. UK business isn’t powerless. We must communicate with the government and electorate, we must loudly make the case for trade, and we must not give up.

Chris Southworth Secretary-General, International Chamber of Commerce, London WC1, UK