ICC Global Trade Update
The ICC have released a global trade update which outlines recent developments in global trade. Amongst the most important developments have been:
• The Trade and Investment Ministerial Meeting faced challenges in reaching consensus, primarily due to tensions between the US and China. A chair's statement was issued by South Africa's trade minister.
• A dedicated session on WTO reform was held, attended by the WTO Director General and a Norwegian facilitator.
• The Global Forum on Steel Excess Capacity (GFSEC) meeting resulted in commitments to develop a framework addressing global steel excess capacity and the launch of a data tool for real-time steel trade information.
• A US-Australia critical minerals deal worth $3 billion was signed to reduce reliance on China, with significant financing from the US Export-Import Bank.
Click here to read the latest update.