As global trade grows and increases in complexity, trade-based money laundering has become the weakest link in anti-money laundering initiatives. Banks and government officials are strengthening international collaboration to crack down on criminals who hide and launder their dirty money in global trade transactions.
Over 70 percent of water consumed globally is poured into crop and livestock production. But the water we need to drink, to grow food, and to produce industrial goods is under stress and becoming scarcer in parts of the world. What kinds of solutions offer better opportunities for managing scarce water resources to ensure we can continue growing enough food?
Every policy realm has its jargon. Trade policy is no exception. The difference between a country’s weighted average bound tariff and its weighted average applied tariff is called “water in the tariff schedule”. It’s a topic of discussion in WTO negotiations over what the starting point for tariff cuts should be.
In September last year, the Trump Administration finalized a list of $200 billion in imported goods subject to tariffs. The list included rubberized textile fabrics, affecting water resistant clothing. Find out how apparel and footwear companies are weathering the storm of tariffs on imports from China.
The bountiful show of cherry blossoms in Washington DC is a reliable harbinger of spring renewal. When they bloom in Japan, communities pause to appreciate their beauty and reflect on renewal. As WTO members start to design critical reforms to the global trading system, they should carry a renewed commitment to its future and a renewed vision to match that of its founders.
The concept of creating a generalized, non-reciprocal system of preferences for developing countries dates back to 1968. But enabling legitimate forms of discrimination has predictably had positive and negative consequences and there’s little economic data to demonstrate the programs have accrued significant benefits.
The art of bracketology is crucial in both March Madness and trade negotiations. Consensus is the goal, as trade negotiation texts move from “plenary” sessions with all 164 players on the court to a single agreed text, often with the help of chairperson who serves at turns as coach, referee, and cheerleader for the negotiations.
If you haven’t been in a bookstore lately, now is the time to close up your laptop and seek out the Spring 2019 edition of Lapham’s Quarterly dedicated to the topic of trade. The journal takes you through time through the eyes of those who trade, from an Assyrian king to an American mink maker testifying last year on the impact of a tariff war with China.
There are some in the United States who are frustrated with the administration’s willingness to toss out the traditional trade policy playbook, but if trade talks over soybeans and intellectual property protections can be leveraged to address illicit trade in deadly fentanyl, we can all get on board with that.
Most Americans feel uncertain about the benefits of trade and trade policies for our own communities. In national polls, the higher the level of uncertainty, the increased likelihood individuals will check the “I don’t know” box.