On February 24th, President Obama signed into law the Trade Facilitation and Trade Enforcement Act of 2015. The new legislation now officially prohibits the importation of goods produced by forced labor or child labor, closing an 86 year old loophole and reauthorizing the Customs and Border Protection Agency to seize any imports suspected of being produced by forced labor. Forced labor produced goods are ubiquitous across industries, and the new law is slated to significantly impact global supply chains. Forced labor hidden in the supply chain presents a palpable, three-pronged risk to companies, irrespective of industry. These include business continuity risks, brand risks, and compliance/legal risks.
This white paper provides:
- An overview of the Trade Facilitation and Trade Enforcement Act
- Why SCM practitioners and stakeholders should care about the new law
- An examination into how the legislation will be implemented and enforced
- An assessment of key regions, industries and goods impacted by the new law
- Tactical and strategic recommendations on how to prepare for the foreseeable supply chain impacts