A Brief Look at Global Trade Bottlenecks

Former AAUG Realty president Gregor Gregory serves as director of Northernlight in Hollywood, Florida, where he oversees a group of businesses that provides customized surety and property insurance solutions to clients in the international construction industry. While serving as AAUG’s president, he oversaw townhouse developments and the development of land along South Florida’s waterways. Gregor Gregory’s interests include international construction and global trade practices.

The global supply chain was disrupted across multiple segments in 2022 due to inflation, the Ukraine war, political turmoil, and a shortage of resources, among other factors. The United Kingdom exited the European Union on February 1, 2020. Two years after the “Brexit” withdrawal, a protectionist trade regime was in place. Companies trading with the UK in 2022 had to navigate unique trade protocols to comply with its sophisticated Customs Declaration Service (CDS) system.

Goods exchanged between the United States and China were subject to retaliatory tariffs. In addition to the spikes in prices of goods due to the excessive tariffs, sanctions in the form of trade status denials and port closures affected the US-China supply chain.

In the Asia-Pacific region, thousands of companies faced product delays and shortages due to COVID-related lockdowns of Chinese factories and an extra layer of scrutiny against forced labor. Companies in Latin America, meanwhile, were subject to rapid changes in trade policy, which complicated trade compliance. Some business leaders in Latin America pondered the question of whether sophisticated technological solutions could streamline trade compliance.

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