GENEVA (Reuters) – The value of global trade is set to fall by 7% to 9% in 2020 from the previous year, despite signs of a fragile rebound led by China in the third quarter, a United Nations report said on Wednesday. No region was spared by an estimated 19% year-on-year plunge in world trade in the second quarter, as the COVID-19 pandemic disrupted economies, the U.N. Conference on Trade and Development (UNCTAD) said. Global trade recovered somewhat in the third quarter, when it was estimated at about 4.5% less than in the same period a year ago, the agency said in its latest update.
Singapore, 23 September 2020: On Wednesday, members of the Global Platform for Sustainable Natural Rubber (GPSNR) convened the annual General Assembly, which saw the approval of a members’ sustainability policy framework and the creation of a new membership category for smallholder producers of natural rubber.
The newly approved policy framework will help GPSNR member companies, who account for almost 50% of global natural rubber volume, to establish or update strong supply chain sustainability commitments through their natural rubber purchasing policies, on all aspects of sustainability: economic, environmental, and social. Modeled around the Platform’s 12 Principles of Sustainable Natural Rubber, the new policy framework sets out eight overarching themes that include commitments to legal compliance, community livelihoods, healthy, functioning ecosystems (including no deforestation), and respecting all human rights.
The European Tyre and Rubber Manufacturers’ Association (ETRMA) has welcomed the publication of the European Union’s 2020 Communication on Critical Raw Materials, which retains natural rubber (NR) in its list of critical raw materials. NR is the only biotic material to be included on the list, and was included in 2017.
According to the organization, the tire industry alone absorbs about 76% of all the natural rubber produced globally. Today, there is no substitute for natural rubber from hevea trees that could be used in all current applications. ETRMA states inclusion in the critical raw materials list reconfirms NR’s priority status in EU policy, and the importance of securing fair and sustainable supply of natural rubber for European industry. It also provides further support for ongoing industry research into alternative sources of natural rubber.
Join Tire Business Editor Don Detore, Special Projects Reporter Bruce Davis, and Rubber & Plastics News Editor Bruce Meyer, as they dissect results of the comprehensive annual Global Tire Report. See how the tire makers ended 2019 — just months before the COVID-19 pandemic disrupted the world as we know it.
WASHINGTON (Reuters) – U.S. anti-dumping and anti-subsidy probes that could heap tariffs on imports of car and light truck tires from South Korea, Taiwan, Thailand and Vietnam cleared an initial hurdle on Tuesday as the U.S. International Trade Commission voted to let them proceed. The commission said in a statement that it voted affirmatively in the preliminary phase investigations.
KOTTAYAM, India—India’s Rubber Board is setting up an e-trading platform for natural rubber to bring transparency and visibility for buyers and sellers in the market.
Imagine being asked to bake a cake but not being told what kind of cake you’ll be baking and knowing you’ll be judged on the results. You might know you need milk, eggs and flour, but whether the cake needs to be chocolate or carrot is pretty important, too, and will change what you pick up during your shopping trip.
WASHINGTON — The U.S. Commerce Department said on Tuesday it had opened investigations into vehicle tire imports from South Korea, Taiwan, Thailand and Vietnam to determine whether the are being sold at less than fair value. The department said it was also investigating whether tire producers in Vietnam were receiving unfair subsidies for passenger vehicle and light truck (PVLT) The investigations were in response to petitions filed in May by the United Steelworkers (USW) representing workers at U.S. tire plants. “Even though demand for PVLT increased, domestic producers were still forced to grapple with reduced market share, falling profits …
On June 3, the House Transportation and Infrastructure Committee released draft text of a five-year, $494 billion surface transportation reauthorization bill entitled the “Investing in a New Vision for the Environment and Surface Transportation in America Act” or the “INVEST in America Act.”
The bill includes $411 billion in contract authority from the Highway Trust Fund for highway, transit, safety and research programs. $319 billion is the portion allocated for the Federal-aid highway program under the Federal Highway Administration.
When and how should your business internationalize?
This question has been explored around the world by research scholars for decades. An opportunity to explore this question and share in new findings is offered through a study by Mark Stoiko, a professor in the Faculty of Business, Humber College, invites industry to participate in research on how and when to internationalize a manufacturing enterprise. Participation is simple and easy.
The research follows the highest ethical standards set by the Canadian Tri-Council Policy Statement: Ethical Conduct for Research Involving Human Subjects, 2nd edition (TCPS2).
Eligible survey respondents are managers in Canadian manufacturing companies who sell at least some of their products internationally. The web-based survey contains questions that should take approximately 10 minutes to complete. Survey participants who choose to leave contact information will receive a table of aggregate results of the findings. The letter of information and survey for this study is found in the link below. Click on this link to get started: https://www.surveymonkey.ca/r/83G8TFM.