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< Back < Previous | Next > Geopolitics How businesses can tackle isolationism and protectionism Tom Scott 3 Feb 2025 Andrew Wilson As Deputy Secretary General for Policy at ICC Global, Andrew Wilson ’s job focuses on any public policy relevant to business. That’s everything from trade to tax, from climate to financial regulation. He carries out this work at a range of different levels: national, EU, but mainly various United Nations bodies such as the WTO. He describes ICC’s role as being “the voice of business in international policymaking, ensuring that what is agreed at the UN or WTO really meets the needs of local private sectors across the world”. We caught up with Andrew to talk to him about the challenges of geopolitics today: how it affects international trade, the global shift towards isolationism, the impact (if any) of Trump’s second term in the White House. In addition to ICC’s response to these issues, we also discussed the various options open to businesses to tackle the trend of increasing unilateralism and protectionism. What is ICC’s view of the current state of geopolitics? We are living in an increasingly fragmented and uncertain world. We’ve got hot conflict in Ukraine and, until recently, the Middle East. And we have severe tension between the largest two economies in the world: the USA and China. In addition to this, there is also a steadily growing mindset of unilateralism and protectionism within many economies. Looking closer at unilateralism and protectionism, how does this affect international trade? The trade environment is far more complex and certainly less stable than it was, say, before the pandemic. In 2023, for example, there were 3,000 new trade barriers erected by governments across the world. This represents a five-fold increase over the previous five years. This steady drift, almost unnoticed by much of the media, towards greater isolationism is certainly not conducive to high levels of trade growth, which powers long-term job creation and GDP growth. Indeed, the USA is currently getting a lot of media attention about tariffs. Surely this huge increase in trade barriers is not originating only from the White House? This is an important point of clarification that we want to bring to the debate. The USA is certainly not alone in its protectionist policies. This is part of a much broader trend towards unilateralism in trade: the steady erosion of the multilateral trading system. There are governments in other regions – Southeast Asia and, to a lesser extent, Latin America – that are introducing some forms of restrictions to trade. These aren’t necessarily tariffs; it could be distortionary subsidies or export restrictions. Just how much influence does the USA have? Another point of nuance that is sometimes missing is that the USA accounts for only ten per cent of global trade flows. Compared to the 1930s, for example, the USA just simply doesn’t have the same market power today. However, we are very conscious of how countries may respond to the ‘America First’ policy. What possible options do countries have? They could choose to negotiate. Or accept the imposition of tariffs. Or to retaliate. Our big concern from a systemic perspective is if other major economies start to retaliate – the European Union, China, Canada, for instance – then we could end up with tariff escalations within the G20 or even the G7. That would obviously be extraordinarily concerning. Our message is to see the bigger perspective and avoid retaliation: keep calm and negotiate. And what advice can ICC give businesses to deal with the trend of unilateralism and protectionism? Coming from discussions we’ve run together with the International Monetary Fund with a whole range of corporates, we have identified six best practises for how businesses can navigate this very uncertain environment. Maybe it sounds facile, but there’s no need to overreact or to essentially follow the media cycle. We think it’s important that businesses stay sanguine. We strongly recommend internal education by ensuring that relevant teams are properly educated about tariffs, currency fluctuations and other trade barriers. In some cases, companies will need to extend this education down their supply chains. Companies should have a contingency plan. So as soon as there is any indication of possible trade policy changes, companies know how they may be impacted by tariffs or any other import or export restriction. Then they can respond accordingly, for the short-term but also potentially for the mid-term and long-term. Invest in intelligence. We know that not every company can do this, so wherever possible, use advanced tech such as AI to develop intelligence on supply chain shifts, possible policy changes and uncertainties. Use this intelligence to manage supply chains and volumes. Clear communication with suppliers is vital. If you’re at the top of the supply chain, or near the top, make sure to maintain solid relationships with suppliers, particularly if those are of a strategic or long-standing nature. Create a joint plan of action throughout the supply chain. We recommend effective advocacy. Companies can use associations like ICC as a way to influence government policy in a constructive way. Considering ICC’s history, established in 1919 to promote open global trade and investment after Word War One – and consequently promoting peace – what is ICC’s position in today’s world? We see this as a key moment for ICC to step up. We are very well aware of the responsibility we have at this moment to respond to the needs of business in an effective way. This is using our position in the WTO system, in the UN, and with our global network of chambers. I think of ICC being a space where business can convene to openly and honestly discuss how they are approaching some of the challenges they’re facing. In practical terms, how will ICC achieve this? In terms of external focus, we have three main aims. Our objective number one is the preservation of the existing multilateral trading system which is absolutely vital for the global economy and for society as a whole. This includes maintaining the WTO. Although the WTO is not the ‘new thing in town’, it underpins a huge percentage of international trade and it is absolutely critical for developing and emerging economies. We published research last year that showed that if the WTO was to disappear overnight, the impact on trade would be enormously severe. Here’s just one example: trade flows in sub-Saharan Africa would decline within a five-year period by 40 per cent. The second point is how do we effectively remake the case for international trade? Twenty years ago, the mainstream consensus was that multilateral trade was a good thing. I fear that this opinion has been lost in many ways. Therefore, we want to look at how we can tangibly, realistically and creatively start to rebalance the discussion on trade. The third and final point is, as the world appears to be going in a protectionist direction, what practical solutions can business bring to government discussions to strengthen the system? Here’s one example. The WTO dispute settlement mechanism no longer functions because under the Obama administration, the USA refused to appoint new judges. That is hugely problematic for the WTO to provide discipline and order within the multilateral system. We accept that there is very little prospect of this being resolved in the new Trump administration. As an alternative to the classic model of WTO dispute resolution, one idea we’re working on is state-to-state arbitration to enable the resolution of trade disputes and thus avoid escalation. It’s this kind of practical, but potentially very valuable intervention that we need to pursue with greater vigour. These solutions would be informed very much by the needs of the business community – in our case, ICC members – to identify the problems, work together on practical solutions, and then use our position to advocate for those solutions.

< Back < Previous | Next > Anti-corruption / Corporate governance ICC and WCO release trade facilitation recommendations for enhanced integrity at borders 10 Jul 2025 Integrity at borders is fundamental to sustainable trade and economic growth. A new joint International Chamber of Commerce-World Customs Organization paper highlights how trade facilitation – by digitalising processes, reducing complexities and increasing transparency – can be a powerful tool for fighting corruption. Download US$1.2 to US$1.5 trillion. That’s the staggering annual cost of bribery alone – equal to roughly 2% of annual global GDP. But bribery represents just one facet of corruption’s devastating impact. The true cost runs far deeper, undermining the very foundations of fair trade and economic growth by eroding institutional trust, distorting competition, and creating artificial barriers that stifle opportunity for businesses worldwide. Corruption thrives precisely where trade facilitation is most needed: in complex, opaque environments where procedures span multiple government agencies and discretionary decision-making creates opportunities for abuse. Micro-, small- and medium-sized enterprises (MSMEs) and women-owned businesses are particularly vulnerable in these settings, as they often lack the resources to navigate burdensome procedures or absorb the added costs of informal payments. However, trade facilitation – the simplification and harmonisation of international trade procedures – can be a powerful lever for combatting corruption, according to a new joint paper from the World Customs Organization (WCO) and International Chamber of Commerce (ICC). How does trade facilitation limit corrupt practices? By reducing complexity and increasing transparency, trade facilitation limits opportunities for illicit practices. When properly implemented, these measures create an environment where corruption becomes both harder to carry out and easier to detect. Digitalising border processes to reduce human intervention and establishing clear and transparent regulatory frameworks that limit discretionary decision-making are concrete trade facilitation measures that strengthen integrity. Public-private partnerships play an essential role by promoting collective action and reinforcing the implementation of integrity-focused reforms. These efforts must be grounded in the World Trade Organiztion (WTO) Trade Facilitation Agreement and the WCO Revised Kyoto Convention, which provide a critical foundation for strengthening integrity, promoting transparency, limiting discretion, and supporting more predictable and rules-based border procedures. However, border practices in many countries remain in urgent need of trade facilitation reforms . Take export licensing, for example: in some cases, companies must visit multiple government offices to have paper documents stamped – a time-consuming and costly process. When officials arbitrarily demand additional documentation, it creates fertile ground for corruption, where officials can demand facilitation payments while businesses feel pressured to comply simply to expedite processes. While trade facilitation serves as a powerful anti-corruption tool, it is not without risks and limitations. These measures can face challenges including data manipulation in digitalised systems, cybersecurity threats, internal corruption risks, and resistance to technological adoption. To address these vulnerabilities, both Customs authorities and businesses must implement comprehensive approaches that include robust governance structures, regular audits, cybersecurity protections, and training programs. Public-private partnerships through National Trade Facilitation Committees and chambers of commerce are essential for building trust and creating effective enforcement strategies that address both the supply and demand sides of corruption. Trade facilitation in action Forward-thinking companies are adopting practices aligned with tra principles as anti-corruption tools. Some firms require their business units to take practical steps to reduce the risk of solicitation, including through digitalising sensitive transactions and engaging legal support when attending meetings with parties that present a higher risk of solicitation. Other businesses mandate the use of electronic communications or e-government solutions in areas such as licensing, procurement and taxes to reduce face-to-face interactions with public officials and minimise connected risks of bribe solicitation. Similarly, some countries that embrace digitalisation have seen remarkable outcomes. For example, in Guatemala a project supported by the Global Alliance for Trade Facilitation digitalised ship arrival and departures procedures through the National Single Window (VUMAR), reducing processing times by 85% and eliminating the need for multiple in-person visits. This reform made all these transactions traceable and verifiable, demonstrating how digital trade facilitation can reduce opportunities for corruption by replacing paper-based processes with more transparent and accountable procedures. Actionable recommendations for Customs and business Customs Digitalise Enhance legal safeguards Raise awareness Address small facilitation payments Publish on a publicly available website Foster a transparent zero-tolerance culture Establish robust feedback mechanisms Increase cross-border collaboration Monitor and evaluate Business Advocate Participate in integrity awareness Apply a risk-based approach Automate processes Develop compliance programmes and controls Prohibit and discourage the use of small facilitation payments Monitor and evaluate Foster a transparent zero tolerance for corruption culture

< Back < Previous | Next > Trade & Investment The world order is changing from a ‘rules-based’ to a more ‘power-based’ setup 1 Mar 2025 The previous two issues of our newsletter have looked closer at the current geopolitical situation: the challenges and solutions thereof. These have covered the subject from the perspective of the trans-Atlantic thinktank German Marshall Fund (Dr. Alexandra de Hoop Scheffer) and ICC Global (Deputy Secretary General for Policy Andrew Wilson). Now it’s time to hear from one of the largest business associations in the Netherlands – evofenedex – which represents its 10,000+ members active in supply chain logistics and/or international trade. Evofenedex Managing Director Bart Jan Koopman answers some of our most pressing questions covering risks, opportunities and how to build resilience. What is your take on the increasing international trade tensions that we have seen in the media so much over the previous couple of months? For a long time, international trade has been managed and regulated by international institutions implementing a variety of rules and agreements. However, a large number of countries and groups of countries are stepping out of this way of working. So instead of the world becoming more globalised, we are seeing more and more fragmentation. However, this goes back longer than the recent developments we are seeing in the media at the moment; this has been happening for a number of years. As for the timing of the coverage, it’s important to note that this is not a story that is driven by Trump. For example, the WTO started becoming a lame duck organisation in the Obama years. However, the situation has been worsened by Trump. To understand the underlying mechanisms as to why this is happening, we need to look at the fact that the world order is changing from a ‘rules-based’ to a more ‘power-based’ setup. And how does this affect international businesses? This has a significant impact on the business community with substantial economic and trade consequences. It is very challenging for companies to make decisions in this fragmented world with different rules and standards. Experience has taught us that protectionism comes with more rules and regulations and makes it harder to be compliant. And at the same time another reality is true. If things were complex with regulations, then without them, it is even more complex. You also now have to take all these geopolitical developments into account! Let’s talk about risks and opportunities. How should companies tackle the seemingly constant stream of risks? If you are in business, there have always been risks and there will always be risks: the Suez Canal blockage, the Middle East situation, and the coronavirus pandemic are all relevant examples. When looking at how to deal with such uncertainty – this unpredictability – if you only look at situations from a risk perspective, then you often don’t get a chance to see the opportunities. So rather than only looking at – and reacting to – the risks, companies need to act more strategically. This is the challenge of moving from a risk-based to a more resilient way of working. How can companies build resilience? Reconfiguration of supply chains is a good example. A large company working in the semiconductor sector, for instance, knows that the USA will have big problems with companies delivering certain chips to China but also chips made in China and shipped to the US will be a problem. In this case, reconfiguring the supply chain to relocate this part production outside China – to Malaysia or Vietnam – could be a solution. Another option rethinks the ‘just in time’ supply chain method. Companies can build resilience by increasing the number of their suppliers; having three or four instead of one or two. This would involve different supply chains operating in parallel, possibly at different production sites. Of course, this is more expensive, but it is more resilient. Other examples could be to set up production in the USA, or to focus more on internal European markets. Reconfiguration of supply chains can offer new possibilities for every company in every sector. Last but not least, cooperation in the value chain and supply chain helps to build resilience as well. What is the role of organisations like ICC and evofenedex? Companies need to concentrate on their business rather than sitting around analysing trends. On the other hand, they need to stay up-to-date with both the short and long-term trends so that they don’t make decisions that they could regret later. This is where organisations like ICC and evofenedex can help companies find their way through the complexity. At evofenedex, the trio of actions that we like to offer our members is ‘interpret, learn and influence’. This is not only useful for small and medium-sized companies, but large ones too. Look at the complexity that everyone is operating in: regulations are only increasing, but at the same time we are living in a world where regulations are getting less and less important. This is a challenge but also an opportunity. And how does this translate to practical help to members? Externally, we work with organisations such as the ICC on the ‘big picture’ issues; promoting the push towards increased digitalisation of trade procedures, and during the Week of Integrity, for instance. And then internally, we look at long-term trends and themes affecting our members, and try to give advice and increase members’ knowledge level on those subjects. Significant trends at the moment include compliance, working with trade restrictions, and sustainability. Rather than one-on-one transactions, we bring our members together in what we call communities to share experiences and knowledge with each other. Despite all of this do not forget international business is still very much alive and needed and I am convinced that together we can do business also in these turbulent times!

< Back Manon Schonewille Proactive Mediators Mediator Biography Since 2014, Manon Schonewille has been selected and endorsed as leading individual in 'Who's Who Legal in Mediation', she is on the Global Mediation Panel for five UN organizations and mediator for cases of the Enterprise Chamber of the Amsterdam Court of Appeal. (Ondernemingskamer). Testimonials from peers, parties and party advisors are referenced on her website: https://www.manonschonewille.nl/ I am an internationally acclaimed business mediator, negotiator and author of the bestselling book ‘Toolkit Mediation’. Based in the international city of Rotterdam The Netherlands. My mission is to redefine conflict resolution by empowering lawyers and a new generation of mediators to skilfully guide others in managing and preventing conflicts. Rather than fixating solely on the content of the conflict and its legal aspects, my approach revolves around respecting the People, the Problem and the Process. As a mediator I assist all parties in navigating their way to resolve the issues at hand by tapping into their own potential and uncovering all interests and needs. My focus spans conflict resolution and prevention, both intricately interwoven, with a deep understanding of the human dimension. In collaboration with my clients, conflicts are transformed into catalysts for business opportunities, facilitating the transition from uncertainty to clarity, finding converging interests and shared visions for sustainable business and personal growth. Next to my practice as a mediator and negotiator, I founded The Academy of Legal Mediation and Mundi Mediatores , with the vision to generate a new conflict resolution paradigm. Contact Details Netherlands 0654336192 manon@toolkitcompany.com Additional Links Link About ICC Netherlands We ensure that Dutch business interests are heard and represented in international policymaking. We deliver tools and standards that simplify cross-border business like model contracts or Incoterms®. We support fair and efficient dispute resolution . Become a member Upcoming events Learn more Check our latest news! News Languages Spoken Dutch, English, German Specialisation Consultancy Services (Other than Legal), Business Mediation, Employment Mediation Bar Admission(s) Credentials IMI, MfN, CEDR CV

< Back < Previous | Next > Global Response Pronounced spike in low-level crimes in Singapore Straits 15 Apr 2025 The ICC International Maritime Bureau (IMB) has revealed a rise in global piracy and armed robbery incidents in the first quarter of 2025 – driven by a spike of incidents in the Singapore Straits. A total of 45 cases of piracy and armed robbery against ships were recorded in the first three months of 2025 – an almost 35 percent increase compared to the same period in 2024. Of the incidents reported, 37 vessels were boarded, four were hijacked and four had attempted attacks. The threat to crew safety remains high with 37 crew members taken hostage, 13 kidnapped, two threatened and one injured. Rise of incidents in Singapore Straits The Q1 report highlights a spike in recorded incidents in the Singapore Straits as 27 incidents were reported from vessels transiting these waters compared to seven for the same period in 2024. While most incidents were considered low-level opportunistic crimes, crew members were at great risk with guns reported in 14 incidents. For the whole of 2024, guns were reported in 26 incidents globally. Ten crew members were taken hostage in six separate incidents, two were threatened and one was reported injured. Ninety-two percent of all vessels targeted in the Singapore Straits were successfully boarded, including nine bulk carriers and tankers over 100,000 deadweight tonnage in size. IMB Director Michael Howlett said: “The reported rise of incidents in the Singapore Straits is concerning, highlighting the urgent need to protect the safety of seafarers navigating these waters. Ensuring the security of these vital routes is essential and all necessary measures must be taken to safeguard crew members.” Caution advised in the Gulf of Guinea Although the number of reported incidents within the Gulf of Guinea waters and adjoining littoral states continues to be at its lowest in nearly two decades, the IMB urges continued caution as crew members remain at risk. All 13 kidnapped crew were reported in these waters in two separate attacks – with a total of six incidents reported in the first quarter of the year. In March, pirates hijacked a bitumen tanker southeast of Santo Antonio, in Sao Tome and Principe, kidnapping 10 crew members – while a fishing vessel south of Accra, Ghana, was boarded by armed pirates who kidnapped three crew members. “While we welcome the reduction of incidents, the safety of crew members in the Gulf of Guinea remains at greater risk. It is essential to maintain a strong regional and international naval presence to address these incidents and ensure the protection of seafarers,” Mr Howlett said. Somali piracy threat remains Between 7 February and 16 March 2025, two fishing vessels and a dhow were hijacked off the coast of Somalia. In these incidents, 26 crew members were taken hostage, demonstrating the continued capabilities of Somali pirates. Reports indicate all crew have been released along with the vessels. The IMB advises ships navigating these waters to exercise caution and to strictly follow the latest version of the Industry Best Management Practice (BMP). Download your copy of the 2025 Jan – Mar Piracy and Armed Robbery Against Ships report here . About the IMB Piracy Reporting Centre Since its founding in 1991, IMB’s Piracy Reporting Centre has served as a crucial, 24-hour point of contact to report crimes of piracy and lend support to ships under threat. Quick reactions and a focus on coordinating with response agencies, sending out warning broadcasts and email alerts to ships have all helped bolster security on the high seas. The data gathered by the Centre also provides key insights on the nature and state of modern piracy. IMB encourages all shipmasters and owners to report all actual, attempted and suspected global piracy and armed robbery incidents to the Piracy Reporting Centre as a vital first step to ensuring adequate resources are allocated by authorities to tackle maritime piracy.

< Back < Previous | Next > Paperless Trade Pilot Handbook – Road to a broader Digital Trade Eriáne Marsera 3 Nov 2025 Paperless trade is no longer a distant aspiration; It is today’s most practical lever for cutting cost, time, and risk in cross-border commerce. Paperless Trade Pilot Handbook – Road to a broader Digital Trade “Paperless trade is no longer a distant aspiration; It is today’s most practical lever for cutting cost, time, and risk in cross-border commerce.” In October 2025, the International Chamber of Commerce (ICC) Digital Standards Initiative (DSI) released the P aperless Trade Pilot Handbook , a practical guide designed to help governments and businesses implement paperless trade systems. The handbook arrives at a critical time for global trade, marked by geopolitical uncertainty, disrupted supply chains, and growing pressure to improve efficiency and resilience in cross-border commerce. The handbook outlines six essential steps for designing and executing effective pilot projects: Define vision and objectives – Set a clear, measurable purpose aligned with stakeholder priorities. Recruit key stakeholders – Build a balanced team of core experts and support roles. Map the current trade process – Identify inefficiencies and assess digital readiness. Develop the pilot framework – Define scope, milestones, and roles. Assemble metrics for success – Use KPIs and OKRs to measure impact and align contributions. Pilot and iterate – Launch, monitor, refine, and scale based on feedback. The playbook emphasizes starting small , focusing on one corridor, process, or document and scaling based on results. It is designed for a broad community of digital trade advocates, including public agencies, banks, logistics providers, and technology platforms. Connecting to Global Digital Trade Developments The handbook is deeply connected to international efforts to modernize trade, particularly through the UNCITRAL Model Law on Electronic Transferable Records (MLETR) . MLETR provides a legal framework that gives electronic trade documents such as bills of lading and warehouse receipts, the same legal status as paper ones. This removes legal barriers to paperless trade and enables faster, more secure, and more efficient transactions. Another key enabler is interoperability , the ability of legal, technical, and organizational systems to work together across borders. Interoperability ensures that electronic documents and data can be exchanged and recognized internationally, legal frameworks are aligned, and systems like customs and finance platforms can integrate seamlessly. Without it, digital trade remains fragmented and inefficient. Together, MLETR and interoperability form the foundation for a globally harmonized digital trade environment. The ICC DSI’s mission is to turn these principles into practical implementation, and the handbook is a key tool in that effort. Why This Matters for Dutch Businesses and Policymakers The Netherlands, a major global trading hub, stands to gain significantly from adopting paperless trade. However, as of October 2025, the country has not yet fully incorporated digital trade into its Civil Code ( Burgerlijk Wetboek ) . A draft bill, Bill No. 36 743 , has been introduced to recognize electronic bills of lading (eBLs) , aligning with MLETR. While this is a positive step, broader adoption is needed to cover other key trade documents. The ICC Netherlands, along with a coalition of banks, businesses, and trade associations, has called on Parliament to accelerate MLETR adoption . The September 2025 white paper outlines the practical benefits and urges swift legislative action. You can access the white paper here: ICC Netherlands | September White Paper Key benefits for the Netherlands include: Efficiency and Speed : A pilot between Rotterdam and Singapore showed that using eBLs can reduce document processing time from 6–10 days to under 24 hours. Cost Reduction and Trade Growth : SMEs could see up to a 35% drop in administrative costs and a 13% boost in trade, based on UK findings. Competitiveness : With countries like the UK and France already implementing MLETR, the Netherlands risks falling behind if it delays. Trade Finance Acceleration : Digital documents speed up financing processes, saving days in transaction time. Sustainability and Logistics Optimization : Digitalization reduces delays, lowers CO₂ emissions, and improves supply chain efficiency. Legal Certainty : Recognizing electronic documents gives businesses clarity and flexibility, allowing them to choose between paper and digital formats. Call to Action for Dutch Policymakers To fully realize the benefits of paperless trade, Dutch policymakers must act decisively. The introduction of Bill No. 36 743 is a promising start, but broader legislative reform is urgently needed to align the Civil Code with international standards like MLETR. Parliament should prioritize the recognition of all key electronic trade documents and ensure legal interoperability with global partners. By accelerating digital trade legislation, the Netherlands can: · Cement its role as a leader in global commerce. · Empower SMEs with faster, cheaper, and more secure trade processes. · Enhance sustainability and supply chain resilience. · Ensure Dutch businesses remain competitive in a rapidly digitizing world. Now is the time to move from pilot to policy.

< Back < Previous | Next > Geopolitics Geopolitics insights: “These are just warning shots of the kind of tectonic shift that is happening” Michael Every 1 Apr 2025 Michael Every from Rabobank explains that the current geopolitical situation poses a major systemic shock threatening international trade, comparable but opposite to the end of the Cold War. Companies can either ignore these changes or adapt, but options are limited and often conflicting, as national security interests increasingly outweigh economic ones, with banks and businesses being increasingly directed by government policies focused on national security. Michael Every For our fourth conversation about Geopolitics in 2025, we spoke to Michael Every , Global Strategist in Rabobank’s Global Economics and Markets Division. As you will read, he doesn’t beat around the bush, drawing on his 25+ years of experience working in “cross-asset, cross-geography, cross-disciplinary” matters of strategy and market analysis to give straight answers to our straight questions. How does the current state of global geopolitics affect international trade? To answer most concisely: it threatens to be as large a systemic shock as what we experienced at the end of the Cold War, but in reverse. How can internationally operating companies react to the present situation? There are just a few choices. The first is to ignore it: don’t admit the world is changing. I can assure you that many CEOs fall squarely into the bracket of ‘don’t take any risks, don’t rock any boats, and don’t offend the shareholders’. Maybe they are thinking that everything will be as right as rain in six months. Good luck with that. The second more consequential option is to change: to try and read what’s actually happening and then act on that. However, available actions are largely a binary choice, or involve a very limited set of options which can contradict sharply with each other. To be blunt: for most companies, things are not as good as they were before. Surely it can’t all be bad. Someone must be gaining from this increased fragmentation and protectionism? The most obvious winner of the last two and a half months is European defence stocks which have gone through the roof. However, for various reasons, I don’t know how long that’s actually sustainable. In a de-globalising or re-globalising world most of the winners are now losers. The global economy risks becoming a bifurcated trading system with protectionist blocs with fractured payment systems; the euro used by one group of countries, the dollar by another, and Bitcoin used somewhere else, etc. Just because no-one has lived through this recently doesn’t mean it hasn’t happened before. The 1930s is a past example. And we have seen snippets of this recently. How many people lost money on Russia after they invaded Ukraine? How many people are suddenly freaked out about owning American assets? These are just warning shots of the kind of tectonic shift that is happening. How does the current state of global geopolitics affect international trade? It means something: in the short term, obviously, they’re still powerful. But once you start getting back to the nuts and bolts of geopolitics and geoeconomics – to where we are now – business is told to do what national security wants it to do. And, to be clear, America didn’t start this; this was happening before Trump. America is actually echoing things that happened earlier in other countries. It’s just that we didn’t recognise it. To be blunt, the emerging thinkers who are setting the pace in the White House and many other economies see the concept of the International Chamber of Commerce as anathema. I don’t see any argument that the International or any Chamber of Commerce can bring to the White House to make them pivot. They only want to hear: How can we help you make this transition happen faster? What can we do to make this work better? Can the banking community play a role in bringing stability? No. Because what we’re seeing unfold most graphically in America is a shift from economic policy, where businesses and banks have a say, to economic statecraft, where they largely don’t. Such statecraft concerns itself in the grand strategy of national security rather than rising stocks. In that environment, banks and businesses will be first politely, and then more and more forcibly, be told ‘here’s how you can help. Here’s what we want you to be doing’.

< Back Shawn C. Conway Conway Arbitration Arbitrator, Mediator Biography Shawn Conway’s expertise in international arbitration spans four decades, during which he has won significant cases in arbitrations involving companies from all over the world. He obtained decisions that continue to shape EU competition law while representing licensee Eco Swiss China Time Ltd. against Benetton International in arbitration as well as in multiple cases at the Dutch Supreme Court and the European Court of Justice. Being admitted to the bar in both the United States (the State of Illinois and the District of Columbia) and the Netherlands (Rotterdam) means Mr. Conway is an expert in both common and civil law. He has represented clients based not only in the United States and Europe, but in the former Soviet republics and throughout the Mideast and Asia as well. Educated in the United States, the Netherlands and Honduras, he is fluent in English, Dutch and Spanish. Moving beyond his success as a litigator and corporate counsel, Mr. Conway helped to found and lead multiple organizations promoting dispute resolution, including the Court of Arbitration for Art, the Netherlands Mediation Institute and the International Mediation Institute. His dedication to helping companies solve disputes in the most efficient, least disruptive, least costly way possible is well known in institutes and C-suites around the world. Contact Details Netherlands Conway@conwayarbitration.com Additional Links Link About ICC Netherlands We ensure that Dutch business interests are heard and represented in international policymaking. We deliver tools and standards that simplify cross-border business like model contracts or Incoterms®. We support fair and efficient dispute resolution . Become a member Upcoming events Learn more Check our latest news! News Languages Spoken English, Dutch, Spanish Specialisation Commercial, Construction, Contracts, Joint Ventures Bar Admission(s) Credentials CEDR, IMI CV

< Back < Previous | Next > Climate change ICC joins Business Call to Action to accelerate global cooperation for our oceans 10 Jun 2025 In a joint Business Call to Action more than 80 businesses and supporting organisations from 25 countries, including 55 businesses representing over €600 billion in turnover and 2 million employees, urged both private and public decisions-makers to strengthen global cooperation and accelerate action to conserve and sustainably use the ocean. As the largest business association in the world, the International Chamber of Commerce is proud to be a convener of this important call to action, bringing the voice of the global business community to the United Nations Ocean Conference. Download The call is convened by an unprecedented coalition of business networks, supported by signatories, including 80 businesses with a combined turnover of over €$600 billion and 2 million employees. In anticipation of the upcoming 2025 United Nations Ocean Conference in Nice, France,the call builds on the experience of leading businesses and organisations already advancing a sustainable blue economy. It emphasises the intrinsic connection between land and sea, highlighting the contribution and interdependencies between coastal and marine environment and the United Nations Sustainable Development Goals. This call is directed at all economic actors, whether directly or indirectly connected to the ocean, and includes: A call to action for businesses to expedite maintaining ocean health through business actions, such as contributions to ocean science, monitoring and reducing environmental impacts, incorporating ocean considerations into their climate and nature roadmaps and investing in blue solutions. A call to action for policy makers to pursue ambitious science-driven policies and measures that stimulate sustainable business action and to jointly address land and ocean for enhanced global resilience With this Business Call to Action, companies and business networks urge policymakers to: Agree to adopt and implement international agreements: champion strong, sustainable outcomes for existing and upcoming ocean-related agreements, Invest in ocean science and support strong science-policy interfaces, Acknowledge and embed into policies the links between ocean, nature and climate, Help all actors to collectively adapt to sea-level rise, Develop robust and innovative finance mechanisms, Raise awareness to encourage all actors to care for the ocean, even those based on land. This business declaration is still open to new signatories. For information on signing this declaration please contact: Daniel Grajales, Global Policy Manager - Environment daniel.grajales@iccwbo.org The Business Call to Action is convened by global and leading business networks including International Chamber of Commerce (ICC), United Nations Global Compact (UNGC), World Economic Forum (WEF), We Mean Business Coalition (WMB), Business for Nature (BfN), Mouvement des Entreprises de France (MEDEF), UN Global Compact Network France and Association française des Entreprises pour l’Environnement (EpE).

< Back < Previous | Next > Integrity & Culture Integrity & Culture: Understanding How Culture Shapes Ethical Behaviour Inspired by Lee Cronk’s research on culture & behaviour 14 Feb 2025 Culture is often cited as a driving force behind human behaviour, influencing everything from social norms to business ethics. However, as anthropologist Lee Cronk points out, “Although behavioural scientists often use culture as an explanation of behaviour, we have little understanding of why culture sometimes powerfully shapes behaviour and at other times seems to have no effect on it.” This raises an important question in the realm of integrity: how does culture influence ethical behaviour, and why do individuals sometimes act against cultural norms? Culture as a Social Coordination Tool Cronk’s research suggests that culture plays a significant role in shaping behaviour through social coordination conventions. These conventions create shared expectations and provide individuals with a framework for decision-making. Ethical norms, which form the foundation of integrity, can be seen as a type of social coordination mechanism. For example, widely accepted ethical principles—such as honesty in business transactions—help facilitate trust and cooperation within societies. A critical insight from Cronk’s work is that people are more likely to conform to cultural norms when those norms provide a clear structure for coordination. Ethical standards function similarly, establishing a shared understanding of acceptable behaviour. However, when ethical norms are ambiguous or in conflict with other cultural influences (such as economic pressures), individuals may deviate from them. As Cronk states, “people may claim that they value a certain trait or behaviour but fail to act accordingly when other factors, such as economic incentives or social pressures, come into play. When Culture and Behaviour Diverge One of Cronk’s key observations is that people do not always follow cultural norms, especially when those norms are not tied to social coordination. He provides an example from the Maasai culture, where traditional gender preferences expressed by parents did not align with their actual behaviour. Maasai parents often state a preference for sons over daughters due to traditional societal values that emphasize the role of men as providers and warriors. However, when researchers observed their real-life actions, they found that parents often invested just as much—if not more—into their daughters’ well-being and education. Cronk explains this discrepancy by highlighting the difference between stated cultural values and actual decision-making behaviours. While Maasai parents verbally uphold traditional gender norms, their practical decisions are guided by evolving social and economic realities, such as the increasing importance of education for all children. This illustrates a broader issue in ethics: individuals and organizations may publicly support ethical norms but act differently when competing incentives come into play. In corporate settings, this explains why some organizations publicly endorse ethical standards yet engage in questionable business practices. The mere presence of an integrity policy does not guarantee ethical behaviour. Instead, ethical norms must be integrated into an organization’s coordination mechanisms, ensuring they guide everyday decision-making. Integrity as a Cultural Construct From a cultural perspective, integrity is not just about individual moral choices—it is about shared beliefs and practices that shape behaviour. Ethical cultures within organizations are most effective when they function as social coordination conventions. For example, when companies make ethical behaviour a fundamental part of their corporate culture—embedded in training, performance evaluations, and leadership expectations—employees are more likely to follow ethical guidelines. Conversely, when ethical policies are seen as mere formalities without meaningful reinforcement, they are likely to be ignored or overridden by other influences, such as financial incentives or peer pressure. This aligns with Cronk’s argument that culture’s influence on behaviour is strongest when it provides clear guidance on how to act in specific situations. “Cultural rules that are clearly tied to tangible benefits are more likely to be followed than those that exist primarily as abstract ideals,” he explains. Lessons for Businesses and Organizations Cronk’s insights offer valuable lessons for organizations aiming to foster a culture of integrity: • Make Ethical Norms Actionable : Ethical guidelines should not be abstract ideals but practical rules integrated into daily business operations. • Ensure Common Knowledge : Ethical standards must be widely known and understood within an organization. Transparency and communication are essential in reinforcing these norms. • Align Incentives with Integrity : When employees perceive ethical behaviour as a requirement for success, rather than an optional guideline, they are more likely to adhere to ethical standards. • Create Accountability Mechanisms : Social coordination relies on mutual expectations. Establishing clear accountability structures ensures that ethical breaches are addressed effectively. Conclusion Culture is a powerful force in shaping behaviour, but its influence depends on how norms are embedded in social structures. Ethical behaviour thrives when integrity is not just an individual choice but a collective expectation reinforced through cultural coordination. As organizations and societies continue to navigate ethical challenges, understanding the relationship between culture and behaviour is crucial for fostering a sustainable and integrity-driven future. AU - Cronk, Lee T1 - Culture’s Influence on Behaviour: Steps Toward a Theory JO - Evolutionary Behavioural Sciences

< Back < Previous | Next > Trade & Investment Incoterms® 2020: Navigating Risk, Responsibility & Reality in Global Trade 3 May 2025 Incoterms® 2020 help businesses manage tariff and compliance risks in global trade by clearly defining who is responsible for transport, insurance, and customs duties. Strategic use can reduce seller exposure to tariffs, making these terms crucial tools in navigating today’s volatile trade environment. New Insight: Managing Tariff Risk with Incoterms® As outlined in our April 2025 guidance note “Using the Incoterms® 2020 Rules to Manage Tariff Risk in International Trade,” businesses can use Incoterms strategically to reduce exposure to unpredictable tariff changes. While Incoterms do not affect tariff schedules directly, they clearly allocate responsibility for customs duties and import formalities. This clarity becomes critical in volatile trade environments. Key Takeaways: • Only DDP (Delivered Duty Paid) places full tariff risk and cost on the seller. • All other rules (EXW, FCA, CPT, CIP, etc) shift import tariffs to the buyer. • Smart selection between DAP and DDP can make a difference when negotiating long-term contracts under changing trade regimes. Use cases: • Avoid seller exposure to future tariffs by shifting from DDP to DAP. • Use FCA or EXW to pass compliance burdens to better-prepared buyers. • Define roles clearly to reduce friction between logistics, legal, and finance. Understanding Incoterms® 2020: More Than Just Shipping Terms Incoterms® 2020 — shorthand for “International Commercial Terms” — are globally recognized rules to standardize obligations in international sales contracts. Incoterms clarify the responsibilities of sellers and buyers regarding transport costs, risk allocation, and logistics obligations at each point in the supply chain. While Incoterms do not govern ownership transfer or payment mechanisms, they serve as a common legal and commercial language that reduces ambiguity and friction in cross-border trade. • Who arranges and pays for transport and insurance? • Who handles customs clearance? • At what point does the risk transfer from seller to buyer? These are not trivial distinctions. Choosing the wrong Incoterm can lead to costly disputes, unpaid claims, or disrupted deliveries. The 2020 revision introduced updated insurance requirements, clearer allocation of security obligations, and a stronger recommendation to match Incoterms with the realities of modern logistics (like containerization). There are 11 terms, grouped as follows: Multimodal terms: EXW, FCA, CPT, CIP, DAP, DPU, DDP Sea/inland waterway-only terms: FAS, FOB, CFR, CIF Understanding the practical application of these rules is where professionals gain the most value — and where costly misconceptions often arise. Incoterms Gone Wrong: 5 Real Mistakes to Learn From Choosing the wrong Incoterm might seem like a small slip — until it leads to costly delays, damaged goods, legal disputes, or unexpected tax bills. Below are five real-world examples, often used in trade compliance training, that show just how easy it is to get it wrong — and how to avoid the same fate. Misapplying Incoterms® can create costly confusion over responsibility, risk, and compliance — even in otherwise well-structured contracts. While the examples above are fictional, they reflect common pitfalls seen in international trade and logistics. Understanding Incoterms® isn’t just a legal formality — it’s a frontline tool for avoiding preventable disputes in global commerce. Incoterms® in Action: Would You Get It Right? Test yourself! Incorrect use of Incoterms isn’t just academic — it leads to costly errors, disputes, and legal risk. Think you’re covered? Take this quick quiz and test your instincts on three real-world scenarios. You’ll find the correct answers and explanations at the end of this newsletter!

< Back < Previous | Next > Trade & Investment Major banks set industry milestone with endorsement of ICC’s Principles for Sustainable Trade Finance 13 Jun 2025 A group of leading Trade Finance banks have announced their endorsement of the International Chamber of Commerce’s (ICC) Principles for Sustainable Trade Finance (ICC PSTF). This group, and further supporting banks, collectively represent as much as 25% of the global trade finance market by volume. A group of leading Trade Finance banks have today announced their endorsement of the International Chamber of Commerce’s (ICC) Principles for Sustainable Trade Finance ( ICC PSTF ). This group, and further supporting banks, collectively represent as much as 25% of the global trade finance market by volume. The work, led by ICC, with support from Boston Consulting Group (BCG) and newly announced endorsement by Commerzbank, ING, Santander, and Standard Chartered aims to provide clear, transparent, and consistent guidelines to enable banks, corporates and investors to effectively channel capital towards sustainable and inclusive trade finance facilities. Unlike for many other financial products, trade finance practitioners have historically not had a clear, consistent and consensus definition on what constitutes sustainable trade finance, limiting its application. The principles, launched in October 2024, therefore provide a robust methodology for evaluating sustainable trade finance transactions, including a globally acceptable approach for assessing use-of-proceeds in trade finance transactions, proposed due diligence protocols for sustainability verification and unified reporting standards to ensure consistency across financial institutions. As a next step, with support of these banks, ICC plans to further build on the principles including defining legal terms and extending its coverage to social sustainability, while also working with the broader trade ecosystem – including banks, corporates and regulators – to expand further endorsement. ICC welcomes any users who also wish to endorse the PSTF to an additional endorsement announcement in circa Q3 2025. “We welcome the endorsement of the ICC Principles for Sustainable Trade Finance by four leading banks. This is a strong signal of market alignment behind a common framework to scale sustainable trade finance in a practical, credible and commercially viable way. We look forward to more banks endorsing the ICC principles ahead of COP30 in November – sending a clear signal that trade is a core part of the solution to climate change.” Philippe Varin, ICC Chair Raelene Martin, Head of Sustainability at ICC, added: “We are thrilled to welcome the banks’ endorsement of ICC’s Principles for Sustainable Trade Finance, which marks an important step in aligning the industry around common methodology for the assessment of sustainable trade finance. We are thankful for their tremendous support in providing thought leadership and guidance that is fit for purpose for industry globally. We believe that the ICC Principles for Sustainable Trade Finance present an important milestone in embedding sustainability at the heart of global trade in a practical and robust way.” The first ICC member banks to endorse the ICC principles shared their initial thoughts: “At Santander CIB, we are committed to empowering our clients with innovative trade and working capital solutions aligned to their sustainability goals that promote resilience across global supply chains. To that end, we are happy to endorse the ICC principles, a landmark initiative in sustainable trade finance, and to continue to pave the way for more original solutions that deliver positive financial and sustainable impacts to businesses everywhere.” — Pablo Ballesteros, Head of GTB Cross Solutions at Santander CIB “Standard Chartered introduced its sustainable trade finance proposition in 2021 and as a pioneering advocate for sustainable trade finance standards across the industry, we are pleased to adopt ICC’s principles. We are committed to offering our clients innovative solutions that empower them to achieve their sustainability goals while effectively managing associated risks. We applaud ICC for leading the way in setting the international guidelines for the industry and we look forward to continuing our partnership with them to shape the future of sustainable trade finance globally.” — Sofia Hammoucha, Global Head of Trade & Working Capital at Standard Chartered. “Commerzbank, as a leading bank for foreign trade particularly for Germany and Europe, welcomes the publication of ICC’s Principles for Sustainable Trade Finance and actively contributed to them. They are suitable for establishing a consistent approach among international market participants and are referenced in our ESG framework.” — Sven O. Schmidt, Head of International Trade Finance Operations, Commerzbank AG “ING is proud to have contributed to ICC’s new Principles for Sustainable Trade Finance, which set a clear and actionable framework specifically tailored for the unique nature of trade finance transactions. These principles align with ING’s commitment to supporting clients in their transition to a more sustainable and resilient ecosystem. We will actively support further development of the framework into Social Trade Principles and further guidance for Sustainability Linked Supply Chain Finance.” — Anthony van Vliet, Head of Product Management Trade – Transaction Services – ING Wholesale Banking “Accelerating sustainable trade is a critical enabler in decarbonising some of the world’s most complex supply chains. Unlike for many other financial products, trade finance practitioners have not historically had a clear, consistent, and consensus definition on what constitutes sustainable trade finance, limiting its application. The formal recognition and endorsement of ICC’s Principles for Sustainable Trade Finance by leading global financial institutions is a huge step forward on this journey.” — Ravi Hanspal, Partner, Boston Consulting Group Boston Consulting Group (BCG) is a long-term strategic partner of ICC, co-leading ICC’s Sustainable Trade programme since its inception, including the working group that developed the most recent Principles for Sustainable Trade Finance. Read more about the ICC Principles for Sustainable Trade Finance, and ICC’s broader work on sustainable trade.