The next chapter of Ghana’s e-commerce revolution | LinkedIn

Small businesses are hit hardest by economic events such as recession and inflation.  Some experts forecast inflation to drop by 1-2 points from 9.1% to 7.5-8%.  The potential for recession is also under discussion as news outlets report that companies are canceling job offers and/or cutting jobs.  GDP data is due out this week.

The top economist who knew inflation would be a disaster says get ready for a bumpy recession ride: ‘Soft landings represent a kind of triumph of hope over experience.’ (msn.com) 

Chips Plus passed the first Senate hurdle last week.  A second Senate vote is needed. The House must also pass it. The House goes to August recess on July 27.   The bill as written includes $52Billion of unfunded chips factory funding (ie to Intel, Samsung, Taiwan Semiconductor), tax credits and authorization of "science agencies" among other not defined areas.  Sen Schumer (D-NY) has stated that Chips will benefit upstate New York. The question is increasing debt versus re-shoring chips production.

US Senate Passes CHIPS Act Temperature Check, but Challenges Linger (hpcwire.com)

Shipping line Maersk outsources new cargo jets to Amerijet - FreightWaves

Maersk will add air cargo capacity to its ocean cargo offerings later this year

Small business owners blitz Capitol Hill over inflation, recession fears | The Hill

Small business owners flew to Washington to raise awareness of the impact of the recession on them.  Add to this other bills under consideration such as Pass through Tax adding 3.8% federal tax ; potential loss of de minimis (calculated at $499Billion cost) and the American Rescue Act 1099K for on line small businesses.   

Large trucker protests over California's gig worker law AB5 shut down Port of Oakland terminals (msn.com)

Port of Oakland officials tell CNBC that as a result of the lack of longshoremen to work at the terminals, there were closures. ILWU labor came to work this morning at SSA terminal, they said, however, once they arrived, some ILWU members chose not to enter the terminal. Without a full complement of labor, SSA decided to close its operations today.

Washington, DC --

EMTC sent a letter to Congressional leaders seeking removal of the Import Security and Fairness Act from the America COMPETES Act legislation, which is pending before House and Senate conferees for final text negotiations.  EMTC estimates that the de minimis provision will impose an additional cost of $499 billion on e-sellers, many of which are micro, small and medium size businesses (MSMEs).

EMTC has been a signatory to multi-association letters (issued in February 2022 and March 2022) advising Congress about the negative impact that including the Import Security and Fairness Act in the America COMPETES Act will have on U.S. companies.  See EMTC Fact Sheet on the America COMPETES Act.

EMTC hopes that these cost estimates will provide Congress with the necessary information to strip the de minimis provision from the bill. 

Paul Asinor, Executive Director of e-Commerce Association of Ghana, an affiliate of EMTC, was the keynote speaker at Jumia's 10th anniversary celebration. Paul gave an excellent overview of the state of e-commerce in Ghana and Africa.  EMTC is pleased to share his speech with you.   e-CAG and EMTC share the goal of removing administrative burdens to boost e-commerce growth and openness to dialogue with regulators. Our leadership team congratulates Jumia Ghana on its 10th anniversary. 

https://acrobat.adobe.com/link/review?uri=urn:aaid:scds:US:32d6a0b8-38f6-37f6-b514-9ff6ab16e0fc

Geneva, Switzerland --

As a result of negotiations during the World Trade Organization's 12th Ministerial Conference, trade ministers have produced a Draft Ministerial Decision that would extend the moratorium on imposing customs duties on electronic transmissions until March 31, 2024.  The critical question is whether this extension changes anything?

Since adopting the Declaration on Global Electronic Commerce in 1998, the moratorium on customs duties on electronic transmissions has been revisited and extended by the WTO every two years at its ministerial conference.  In 2021, India and South Africa put forward a communication on The Moratorium on Customs Duties on Electronic Transmissions: Need for Clarity on its Scope and Impact.

While EMTC hoped that the WTO would produce a text for electronic commerce, it became clear over the past few months that not enough progress was made on the Work Programme on Electronic Commerce.

However, most observers have monitored the efforts of Member States (principally India and South Africa) to end the Moratorium, particularly at MC12.  While the moratorium is extended until MC13 (by December 31, 2023), the WTO General Council may extend the moratorium if MC13 is delayed.  

What are the chances that the following will occur before December 2023:

1. the WTO's Work Programme on Electronic Commerce produces an agreement acceptable to Member States and adopted.
2. the global minimum rate for a Digital Services Tax will be adopted and implemented by Member States before MC13.

Wamkele Mene: AfCFTA must set agenda on intellectual property and subsidies - African Business

The African Continental Free Trade Area is the world's newest and most ambitious trade bloc.  It covers 55 countries and 1.2B consumers.