Your Monday morning coffee briefing from TFG. UK-EU Brexit talks continue, with the UK prime minister Boris Johnson and European Commission president Ursula von der Leyen agreeing to extend talks on the future UK-EU relationship beyond the previously announced deadline of yesterday. The US has seen hospitalisations due to COVID-19 and intensive care occupancy reach new records as the impact of the virus is felt acutely in the world’s largest economy, whilst vaccines continue to be distributed around the world..

Brexit talks until New Year’s Eve as deadline missed

Brexit trade talks could go on until the end of the year after the EU abandoned the negotiating deadline, which was on Sunday, amid rising expectations that a deal could now be done. Negotiators from both the UK and the EU will bein pushing to reach an agreement on what trade looks like post-Brexit, after both agreeing to “go the extra mile”.

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WTO Package

WTO Package of declarations and recommendations adopted to help small businesses trade globally

The Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs) officially adopted at its meeting on 11 December a package of six recommendations and declarations aimed at addressing challenges smaller businesses face when they trade internationally. Read more →

UK announces new approach on US tariffs

The UK announced an independent approach to the longstanding trade conflicts between the EU and US around steel and aluminium and aerospace tariffs. Read more →

 COVID-19 pandemic

WTO report shows marked decline in trade restrictions by WTO members amidst COVID-19 pandemic

The Director-General’s latest annual overview of trade-related developments shows a marked slowdown in the number of trade-restrictive and trade-facilitating measures adopted by WTO members related to goods trade over the past year. Read more →

Launched: ICC SME Climate Hub – Action tools for small and medium-sized businesses

The SME Climate Hub has joined forces with Oxford University to provide small and medium-sized enterprises (SMEs) with tools and resources to help them take climate action. Ahead of the 5th anniversary of the Paris Agreement signing, the freely available tools and resources are specially selected for SMEs to reduce carbon emissions, build business resilience and gain a competitive advantage, and help them achieve the Paris Agreement goals.

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J.P. Morgan’s Reflections on Core Trade in 2020

VIDEO: Talking Heads of Trade: J.P. Morgan’s Reflections on Core Trade in 2020

We heard from Natasha Condon, Global Head of Core Trade at J.P. Morgan, on her take of how the trade finance market has fared in recent months, since joining the bank in 2020. Read more →

After Covid-19 disruption, hedging supply chain risks is a top priority; less than 15% of companies consider reshoring production

Covid-19 lockdowns have disrupted global supply chains across the board and placed the concepts of reshoring and resilience on every policymaker’s lips. A new report from Euler Hermes examines how the pandemic could push manufacturers to rethink their supply chain strategies. Read more →