A growing number of banks surveyed by FIS plan to increase spending on technology next year, as efforts accelerate to upgrade trade finance platforms and incorporate artificial intelligence. Financial technology giant FIS says just over half of 200 banks quizzed expect their technology budget to increase over the next year, with improving operational efficiency and ...| Global Trade Review (GTR)
Two conflicting US court rulings on President Donald Trump’s use of emergency powers to impose tariffs have deepened uncertainty for businesses involved in global trade, experts say. On May 28, the Court of International Trade ruled that the Trump administration’s reliance on the International Emergency Economic Powers Act (IEEPA) for its authority to issue sweeping ...| Global Trade Review (GTR)
The world’s largest trade finance banks are bracing for a potential revenue hit from US President Donald Trump’s tariff spree but claim they are well prepared for slowing exports and supply chain disruptions. In early April, the US slapped tariffs of 145% on China, which retaliated with duties of 125% on US imports, while several countries…| Global Trade Review (GTR)
The World Trade Organization (WTO) has warned that global goods trade is now expected to shrink this year, driven by plummeting import and export figures from North America in the wake of the US’ tariff overhaul. The WTO had initially forecast a continued steady expansion of trade in 2025 and 2026, but following the announcement…| Global Trade Review (GTR)
Companies are being urged to review their procurement and supply chain strategies in the wake of the US government’s tariff programme, as concerns grow over shipping costs and price rises across a range of goods. US President Donald Trump’s imposition of sweeping tariffs on imports, and retaliatory measures from trading partners across the world, has…| Global Trade Review (GTR)
Australian bank NAB says it won’t benefit from any time or money savings from Australia’s proposed adoption of digital trade laws unless the entire trade documentation process is digitised. The Australian government is consulting on implementation of the Model Law on Electronic Transferable Records (MLETR), which recognises digital versions of traditionally paper documents of titles ...| Global Trade Review (GTR)