CBP Accreditation Standards, Supply Chain Spectacle, Maritime Safety and Cybersecurity

Welcome to our special 4th of July edition of Simply Trade Roundup! As the United States gears up to celebrate Independence Day next Thursday, our focus today is on the intricate global supply chain behind one of the most beloved traditions of the holiday – fireworks. Join us as we delve into the fascinating journey of fireworks, from their origins in China to the strict safety measures regulating their production and transportation. Get ready to spark some insights and ignite your curiosity as we explore how international trade plays a pivotal role in bringing the sparkle to the skies on this festive occasion....and of course looking at some hot trade news.

CBP UPDATE:

Customs and Border Protection (CBP) has selected five entities to partner with to develop accreditation standards and implement the accreditation process for the Licensed Customs Broker Continuing Education (CE) program.

At GTC, we take pride in our enduring partnerships with three out of the five prestigious accreditors chosen by CBP. With this strong foundation, we are confident that all our classes will receive accreditation seamlessly, ensuring a top-notch learning experience for our students. As your trusted source for LCB continuing education, we are excited to be your go-to resource for high-quality training and professional development.

The Intricate Journey of 4th of July Fireworks: A Global Supply Chain Spectacle

The article discusses the intricate global supply chain behind 4th of July fireworks, highlighting China as the source of around 90% of fireworks purchased in the United States. The manufacturing process, which originated over 2,000 years ago, involves a volatile mixture of sulfur, charcoal, and potassium nitrate. Today, the production process is regulated with strict safety measures in place. From storage in secure warehouses to transportation with trained professionals and compliance with regulations, the logistics of fireworks require specialized handling. Long lead times and demand forecasts are impacted by weather conditions, and alternative technologies like drones are being explored for visual displays. These innovations offer environmental benefits and reduce the reliance on mining operations.

Highlights:

• China supplies approximately 90% of the fireworks purchased in the US.
• The manufacturing process dates back over 2,000 years, using sulfur, charcoal, and potassium nitrate.
• Strict safety measures govern the storage, transportation, and sale of fireworks.
• Weather forecasts and consumer demand influence the demand and sales of fireworks.

Read the full article here

The Impact of Sanctions on Maritime Safety: Sovcomflot's Perspective

Sanctions on shipping companies, specifically targeted at Russian shipping group Sovcomflot, have led to concerns about the safety of maritime transportation. The CEO of Sovcomflot, Igor Tonkovidov, expressed disappointment that high-quality and safe maritime transport is being sacrificed for short-term geopolitical motivations, particularly in European waters. The impact of sanctions has not only limited the company's operations but also posed dangers for trade and compromised the safety culture developed by the maritime industry. The absence of international service companies and safety certifiers due to sanctions has further exacerbated the challenges faced by the Russian fleet.

Highlights:

• Sanctions imposed on Russian shipping group Sovcomflot are undermining safety at sea and posing risks for trade.
• The CEO of Sovcomflot, Igor Tonkovidov, expressed disappointment that safety is being compromised for short-term geopolitical gains, particularly in European waters.
• The exit of international service companies and safety certifiers due to sanctions has created challenges for the Russian fleet.
• The presence of aging and unregulated tankers in the "shadow fleet" transporting oil from sanctioned countries raises safety concerns.

Read the full article here

Strengthening Manufacturing Cybersecurity

The Department of Energy has released a new framework outlining best practices for securing clean energy cyber supply chains, focusing on technologies used in managing electricity, oil, and natural gas systems. These guidelines emphasize risk management, transparency, operational resilience, and proactive incident response measures. The Biden administration highlighted the growing threat of cyberattacks against the energy sector and the need for enhanced cybersecurity measures. The framework includes 10 best practices for both suppliers and consumers, aiming to strengthen cybersecurity in manufacturing and supply chain operations.

Highlights:

• Department of Energy's framework focuses on securing clean energy cyber supply chains.
• Guidelines include 10 best practices for suppliers and 10 for consumers, emphasizing risk management and transparency.
• Increased efforts in manufacturing cybersecurity were also discussed at the G7 Summit.
• The U.S. critical manufacturing sector faces growing cyber threats, prompting enhanced cybersecurity measures and collaborations.

Read the full article here

NEW COURSE: Forced Labor with emphasis on Supply Chain Tracing

In this comprehensive training course on forced labor supply chain tracing, participants will explore the historical evolution of regulations related to forced labor in supply chains, gaining contextual background and an understanding of the moral and ethical implications of forced labor. The course delves into the standardization, enforcement, and operational aspects of addressing forced labor, providing insights into industry challenges, risk tolerance, and best practices for compliance and supplier relationships.

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