The latest issue of EY's TradeWatch publication is now available.

In this edition, we continue to focus on trade trends, specifically disruption, technology, sustainability, trade facilitation, controversy and customs reform.

Trade disruption continues, becoming effectively the "new normal". But how should businesses respond? This is a topic that is explored in depth in our latest report 'Refocusing on the global trade functional organization — a global trade perspective'. which is based on in-depth conversations and benchmarking studies with trade leaders in global companies. In this edition, we also continue the conversation on the trade function by looking at steps companies can take for 'Future-proofing the customs and trade function'. We set out why businesses should care about this topic now, and why having an effective, future-proofed trade function should be high on every trading company's agenda.

In this edition, we also look at other trade trends, including sustainability and ESG regulations, the effective use of trade facilitation measures and managing controversy. We also look at customs reform in the EU and Canada and provide an update on Section 301 in the US.

In addition, our latest series of ey.com articles 'How three global trends are shaping Indirect Tax' identifies how business leaders should respond to three global megatrends — transformation, sustainability and trade disruption - to help their organizations thrive in turbulent times.

From the regions, this issue includes the following insights:

Global

• Refocusing on the global trade functional organization — a global trade perspective
• 'Future-proofing' the customs and trade function

Americas

• Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) Release 2 update
• Latin America: Maximizing the benefits of nearshoring — a practical guide to Latin America's FTAs
• US: Section 301 update

Asia-Pacific

• Australia and New Zealand's landmark free trade agreements with the UK enter into force

Europe, Middle East, India and Africa

• EU: Customs legislation reform
• Kingdom of Saudi Arabia: a growing network of special economic zones
• South Africa: Between importers and clearing agents, who is responsible for customs compliance?
• UK: EY report on TradeTech and the digitalization of trade

Sustainability

• EU: Fight against global deforestation
• EU: Final regulations published for new CBAM and ETS revisions
• UK: CBAM developments

Why TradeWatch?

In today's global economy, moving goods internationally can be a complex and costly activity. TradeWatch provides information about customs and international trade developments to help you develop strategies to manage duty costs and the risks of global trade, to improve trade compliance and to increase the operational effectiveness of international supply chains.

Access the latest issue in the form of an interactive PDF, or please find the file attached below.

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Trade Watch 2023 | Issue 2