Legislation

ICC Principles on Automatic Subscription Renewals: Best Practices for Businesses

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Automatic subscription renewals have become increasingly popular among businesses and consumers alike, providing convenience and cost savings for both parties. However, these renewals can also lead to deceptive and unfair practices if not handled responsibly. In response, the International Chamber of Commerce (ICC) has released its first-ever set of principles for automatic subscription renewals to … Read more

Valdis Dombrovskis Discusses Transatlantic Cooperation in the Face of Global Economic Challenges

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The recent events of the Russian invasion of Ukraine, competition with China, and the ongoing COVID-19 pandemic have had profound impacts on international trade relations. These challenges have highlighted the need for strengthened transatlantic ties to address the issues facing the global economy. Against this backdrop, the American Enterprise Institute (AEI) recently hosted a conversation … Read more

How to Generate Trust in Commodities Transactions: Alternatives to Past Performance Reports

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Confidentiality Challenges in Commodities Trading Commodities trading is an intricate business that requires trust between buyers and sellers. To establish trust, buyers often request past performance reports from sellers. However, due to confidentiality concerns, it may be challenging for sellers to provide these reports without breaching confidentiality. The International Chamber of Commerce (ICC) rules on … Read more

Brazil Scraps $50 Tax Exemption on International Orders, Targeting Asian E-commerce Giants

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Closing a Tax Loophole Brazil’s government has taken a significant step in its efforts to target purchases from global retail giants, particularly Asian e-commerce behemoths, by announcing the end of a tax exemption on international orders worth up to $50. This move comes as the country’s revenue service aims to clamp down on fraudulent practices … Read more

Navigating the Complexity of Executive Authority and Free Trade Agreements

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The Department of Treasury’s recent guidance on rules for the Inflation Reduction Act’s (IRA) clean vehicle tax credits has raised concerns about the executive branch’s authority to enter into and define free trade agreements. This article aims to provide a comprehensive understanding of free trade agreements, the constitutional powers granted to the executive branch in … Read more

UNCTAD Warns of Another Lost Decade for Developing Countries Amid Economic Turmoil

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Soaring debt, interest rate hikes, and food prices threaten the future of developing nations as they grapple with a potential economic downturn A Looming Economic Downturn for Developing Countries The United Nations Trade and Development Conference (UNCTAD) has issued a stark warning for developing countries, highlighting the risk of another lost decade due to the … Read more

The ICC Centre for Digital Trade and Innovation: Pioneering the Digitalization of Trade

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Key Takeaways from the Inaugural Conference on the Future of Digital Trade and Innovation The ICC Centre for Digital Trade and Innovation recently held its inaugural conference, bringing together speakers from various backgrounds to discuss the digitalization of trade. Trade bodies like the ICC and ITFA have been advocating for awareness and training in this … Read more

Iraq Seeks US Court Enforcement of Arbitration Award Against Turkey Over Oil Exports

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Iraq has filed a petition in a US federal court seeking enforcement of an arbitration award against Turkey related to Iraqi oil exports. This development stems from a dispute between Iraq and Turkey over oil exports facilitated by the Kurdish Regional Government (KRG) without Baghdad’s consent. The case highlights the complexities of regional politics and … Read more

United States Takes Lead Among Large Fishing Nations, Accepts Agreement on Fisheries Subsidies

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On April 11th, the United States officially deposited its instrument of acceptance for the Agreement on Fisheries Subsidies, making it the fourth World Trade Organization (WTO) member and the first among the large fishing nations to do so. This crucial step underscores the country’s commitment to ocean sustainability and the responsible management of global fisheries … Read more

Understanding the Role of a Commission Paymaster and the Benefits of Partnering with Krou Trading LLC

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In the world of commodities trading, where large transactions are the norm, ensuring the security and efficiency of payments is crucial. A commission paymaster plays a vital role in facilitating this process by managing the distribution of commissions to intermediaries involved in the transaction. In this article, we will discuss the role of a commission … Read more