TFG Trade Briefing, 13th January 2020
Your Monday morning coffee briefing from TFG. Here are some of the last week’s updates from the trade sector. Your Monday morning coffee briefing from TFG. Here are some of the last week’s updates from the trade sector. China’s currency has gained further momentum — wiping out the heavy losses it took over the summer. IMO 2020 compliance requires a massive change that will demand rapid adjustments across the global fuel supply chain to comply with the 1 January 2020 deadline.Leading maritime technology and regulatory compliance firm, Pole Star has partnered with global trade finance technology provider TradeIX.
China’s currency extends 2020 rally on easing trade angst
China’s currency has gained further momentum — wiping out the heavy losses it took over the summer — amid cooling tensions between Beijing and Washington.
The gains on Monday came days before the planned signing of a trade pact in Washington by US and Chinese officials, that will help lock in the terms of a limited agreement reached last month. Although details on further concessions by both sides are scarce, the signing will at least prevent further levies on Chinese imports from being introduced by the US, which will also halve tariffs on $120bn of imports imposed in September. Read more →
WEF: “Four Scenarios for the Future of Trade and Investment”
In January 2020, the World Economic Forum (WEF) Global Future Council on International Trade and Investment produced a brief – “Four Scenarios for the Future of Trade and Investment”, that assessed the rising geopolitical tensions present globally, and offered four potential avenues that the global economy would take in the coming years.
From trade wars to global-institutional failings, the brief stands as a stern warning that the political-economic decisions of the world’s leaders in the past year will not lead to prosperity in the future. Read more →
IMO 2020: No more smelly SOx?
IMO 2020 compliance requires a massive change that will demand rapid adjustments across the global fuel supply chain to comply with the 1 January 2020 deadline. The landmark decision by the International Maritime Organization already has begun to exact far-reaching consequences on shipping company operating costs, global freight rates, shipping economics, scrubber demand, accelerated ship scrappage and more. Read more →
UK security chiefs give the green light for Huawei in UK 5G
According to a report in the Mail on Sunday, UK security chiefs have given Huawei the go-ahead to be involved in the roll-out of 5G. This is despite the security concerns surrounding the company, raised primarily by the U.S. government, which is currently in a trade war with China.
Boris Johnson is due to make a decision on Huawei in the third week of January, the report claims. Read more →
Airbus commits to post-Brexit Britain
Airbus has said it will undertake a major expansion of its British business after the UK’s exit from the European Union. The company’s boss, Guillaume Faury, commented that the House of Commons passing of Boris Johnson’s Brexit bill has increased the certainty of the plans. He said: “While global uncertainty won’t end with the UK’s withdrawal from the EU, Brexit is, at least, now for certain,” adding, “But the nature of the future relationship between the UK and EU is still to be determined.” Read more →
Pole Star Joins the Marco Polo Network To Advance Cross-Border Trade Compliance
Leading maritime technology and regulatory compliance firm, Pole Star has partnered with global trade finance technology provider TradeIX, to bring Pole Star’s multi-award-winning PurpleTRAC regulatory technologies to the Marco Polo Network. Read more →
Oman, Vietnam ports join TradeLens shipping blockchain
On Jan. 8 the Times of Oman reported that the Port of Salalah joined TradeLens, the blockchain-based supply chain platform launched in 2018 by shipping giant Maersk and IBM. Read more →