Background

Supply chain woes prompt new push to revive U.S. factories

“Decades of dependence on Asian factories, especially in China, have been upended by delays and surging freight rates — when shipping capacity can be found at all. Backups at overwhelmed ports and the challenges of obtaining components as well as finished products in a timely way have convinced companies to think about locating production capacity closer to buyers.”

[The New York Times]

World's biggest trade pact takes effect

“The free trade bloc is expected to eventually eliminate tariffs on more than 90 percent of goods, expand market access for investment, harmonize rules and regulations, streamline customs procedures, and set common rules concerning the development of e-commerce as well as small and medium-sized enterprises, according to business insiders.”

[Manila Times]

UK companies face New Year Brexit import controls

“From Jan. 1, 2022, EU businesses sending goods to Britain will now need to supply full customs declarations while traders will also have to prove that goods are allowed to enter tariff-free under rules of origin requirements.”

[Reuters]

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