I have spent the last days in meetings and workshops at our Maersk Asia-Pacific regional headquarters in Singapore.
It has been great & ver productive meetings and workshops with customers, collagued and friends.
We are recruiting the first Global Trade and Customs Consulting team right now and I plan to have people on the ground early next year. There are many new colleagues to come.
Next year we will expand the team with new consulting teams.
’Businesses have grappled with tough new U.S. expectations that they improve scrutiny of their sometimes convoluted, multitier supply chains. Customs will be closely looking at these supply chains as well’.
WSJ writes about comments made by Robert Silver, Under-Secretary Department of Homeland Security, Silver said: ”CTPAT membership will now include checks for forced-labor compliance, and companies that participate in the program will get priority treatment”.
[The targetted region in China]…is a major exporter of tomatoes, cotton products and polysilicon, a material used in solar panels. U.S. Customs and Border Protection, had, as of Sept. 20, stopped more than 1,400 shipments valued at hundreds of millions of dollars.
Next year Germany, followed by EU, will implement similar but broader legislation.
There are already discussions how Asian countries will look at similar legislation instruments for reciprocity.
To read the articöe, click here: U.S. Official Warns Against Efforts to Defy Forced-Labor Crackdown
Source: WSJ
Countries will gravitate toward trade relationships with trusted partners and away from countries that elicit discomfort, suspicion, or fear.
Stephen Olsen writes in Hinrich Foundation: ”Trust, the invisible glue that has held the global trade system together for more than seven decades, is in significant decline. In the face of rising geopolitical tensions, predatory trade practices, and supply chain vulnerability, countries are now becoming more proactive in pursuing economic security over efficiency and mutual benefit”.
To read the article, click here: In search of trust and security in global trade
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