Since President Trump took office on 20 January, the growing geopolitical tensions of the past few years have escalated, placing the global trade system itself in the crosshairs. Tariffs are being announced, implemented, or paused at an almost whiplash-inducing speed. A trade war is looming, and the stability and predictability businesses need are seemingly gone.
In this turmoil, ICC continues to stand firm in advocating trade as a driver of prosperity, and peace, and sustainable development. We lead the efforts to safeguard the global trade system – underpinned by the World Trade Organization (WTO) – which enables trade worth trillions of dollars every year, fuels economic growth and fosters opportunities for businesses, nations, and individuals alike. Conversely, escalating trade conflicts, such as the tariff threats from the U.S., risk plunging the global economy into a crisis worse than the Great Depression.
But we are not just sounding the alarm – we are taking action and working towards tangible solutions. We are driving initiatives that do not require global consensus but still have a significant impact on companies engaging in international trade: enabling digital trade documents, streamlining customs procedures, and boosting trade finance access for SMEs.
Read more about our response to the current developments below.
Continuous Trade Policy Updates
- 28 January: Trade Policy Developments Q&A
- 12 February: Global Trade Outlook 2025
- 12 February: Trade Policy Developments Q&A
- 6 March: Trade Policy Update: Recent Tariff Developments
Monthly briefings for the ICC member network on the trade policy developments
Trade Explained
- Are Value Added Taxes a Barrier to Trade?
- Why the Most Favoured Nation Principle Matters for Business
- The Implications of a Democracies Only Trade Pact
- The Impact on Developing Economies of WTO Dissolution (First published in April 2024)
- Trump Tariff Timeline
Upcoming
- In-depth survey on tariffs with IMF-researchers
- Discussion paper on subsidies reform
- Analysis of economic and fiscal risks of rising U.S. import tariffs
- Impact assessment of WTO dissolution in key countries
- Suggestions for an alternative WTO dispute resolution mechanism
Media Statements
- 1 February, Sky News: China, Mexico & Canada hit by U.S. Tariffs / Trade War Erupts as U.S. Imposes Tariffs (link unavailable)
- 2 February, Pod Save the World: Trudeau Slams Trump’s “Dumb” Trade War as Canada Strikes Back with Tariffs
- 3 February, The Telegraph: Reeves to review £700m tech tax as trade war looms
- 4 February, Linkedin: John Denton’s Key messages at Sciences Po Youth and Leaders Summit
- 4 February, Financial Times: Trump’s crackdown on trade loophole to hit Shein and Temu — and help Amazon
- 4 February, The Express: Rachel Reeves to backtrack on £700m tech tax after Donald Trump trade threat
- 5 February, The Banker: Banks ramp up risk defences as Trump’s trade policies rattle markets
- 5 February, Tip Ranks: Trump Trade Loophole Crackdown to Smash Shein and Temu (NASDAQ:PDD) Business Models
- 6 February, ICC Statement: ICC urges negotiation over retaliation on trade tariffs
- 11 February, CNBC Arabia: CNBC Arabia
- 13 February, Anadolu News: INTERVIEW – US ‘on its own can’t cause global trade war’: Int’l Chamber of Commerce chief
- 14 February, Sky News: Business Live
- 17 February, John Denton statement about US trade policy.
- 23 February, SEA Today News: Interview With John Denton, Secretary General Of The International Chamber Of Commerce
- 4 March, BBC: US stock markets fall amid trade war fears (link unavailable)
- 4 March, CNN: Dow falls by almost 700 points after Trump’s tariffs threaten a dangerous trade war (link unavailable)
- 4 February, Reuters: Companies start counting potential costs of Trump’s tariffs
- 4 February, BBC: Wake Up to Money Podcast (link unavailable)
- 4 March, Wall Street Journal: Tariff War Risks Sinking World Into New Great Depression, International Chamber of Commerce Warns.
- 4 March, BBC Channel 4: The Today Programme (link unavailable)
- 4 March, Forbes Breaking News: This Is How Trump’s Tariffs On Mexico And Canada Will Impact You
- 4 March, City AM: Reeves reviews tech tax as Trump trade war fears mount
- 4 March, Realtid: Hög risk för ekonomisk kollaps: ”Vår djupa oro”
- 5 March, Quartz: The biggest loser of Trump’s trade war is the American consumer
- 6 March, France24: 87% of the world is able to function effectively under the rules of a multilateral trading system
- 28 March, SvD Näringsliv: Höjdaren hyllar Sverige: ”Mycket viktig spelare.”
- 2 April, Dagens industri: Handelsnestor varnar för tulleffekter: ”Tre gånger större än 1930”
- 2 April, The Telegraph: What Trump’s tariffs bombshells means for the world
- 3 April, The Independent: Trumps tariffs live: FTSE 100 plumments after Starmer admits trade war will damage UK economy
- 6 April, CNN: Trump tells Americans to ”hang tough” amid tariff turmoil
How Can Your Business Step Up?
At ICC, our advocacy efforts are driven by the real needs and challenges faced by our members, ensuring that the policies we champion directly address the issues that matter most to your business. By participating in our national and international policy committees, your company also gains early access to critical insights through ICC’s ongoing monitoring and analysis of global issues.
For your employees, joining these committees opens doors to an international network of experts, offering opportunities to exchange knowledge, shape policies, and increase your company’s global visibility. Whether you are already a member or considering joining, now is the time to fully leverage the opportunities ICC provides to help you navigate global trade challenges and advocate for an open, fair, and predictable international business environment.
Find out more under Medlemskap