World Trade Center-Kansas City News: October 2024

Oct 02, 2024

Category:

LETTER FROM THE DIRECTOR

Happy Spooky October! Halloween isn’t the only time for treats this month—our lineup of events is sure to make your October even sweeter. From engaging trade discussions to exploring the future of AI, we have something for everyone.

On October 17, kick off your morning with a lively discussion over coffee at Talking Trade at Port KC, where local professionals gather to dive into the pressing issues surrounding international trade. Whether you’re a seasoned trade professional or just starting to explore the field, this event offers a great opportunity to expand your network and exchange ideas on global commerce. Sign up here.

As AI continues to reshape industries worldwide, international trade is no exception. At our AI Horizons: Transforming International Trade event on October 22, you’ll gain an understanding of how artificial intelligence is revolutionizing trade practices. Learn more about the event here.

October is also a time to reflect on important personal issues that affect us worldwide. World Mental Health Day on October 10 is dedicated to raising awareness and eliminating the stigma surrounding mental health. In a fast-paced world, mental well-being is often overlooked. This day serves as a reminder to prioritize mental wellness and foster open, supportive conversations for ourselves and those around us. Learn more about Mental Health Day and how you can help reduce mental health stigma here.

Thank you for your continued engagement with WTC-KC. We look forward to bringing you more updates next month. For any trade-related inquiries, please contact us.

Events

Benefits of the Foreign Trade Zone
WTC-KC and Greater Kansas City Foreign Trade Zone
October 7, 2024
Register Here

Exploring France’s Hydrogren Market and Opportunities
International Trade Administration and U.S. Commercial Service
October 9, 2024
Register Here

Indonesia Public Procurement in Healthcare Webinar
International Trade Administration and U.S. Commercial Service
October 9, 2024
Register Here

Unearthing Opportunities: Critical Minerals in Eurasia
International Trade Administration and U.S. Commercial Service
October 15, 2024
Register Here

Talking Trade: Coffee and Networking at PortKC
WTC-KC and PortKC
October 17, 2024
Register Here

Global Honors Evening
International Relations Council
October 17, 2024
Purchase Ticket Here

AI Horizons: Transforming International Trade
WTC-KC and International Trade Council
October 22, 2024
Register Here

Expanding Your Exports through EXIM Resources and Services Webinar
Exim Bank
October 24, 2024
Register Here

Discover Global Markets: The Americas in Omaha, Nebraska
International Trade Administration and U.S. Commercial Service
October 24, 2024
Register Here

Heartland CISO Summit
KC Tech Council
October 24-25, 2024
Register here

Build You Export Plan to Grow from Local to Global
(Part of GEWKC)
WTC-KC and US Commercial Service
November 19, 2024
Register Here

Dispatches from DC

Photo of clear cut land with dust blowing and trees in the background.

How the EU’s Deforestation-Free Product Regulations May Impact U.S. Agricultural Exports

In 2023, the European Union announced plans to introduce a new regulation on Deforestation-Free Products as part of its Biodiversity Strategy for 2030. This regulation aims to reduce the EU’s contribution to global deforestation. As the EU begins implementing this regulation, it is expected to have a notable impact on supply chains both within and outside of Europe (European Union).

The primary driver of deforestation is the expansion of agricultural land, particularly for producing commodities like cattle, wood, cocoa, soy, palm oil, coffee, rubber, and others. The EU aims to address this by implementing strict requirements on tracing the origin of products. By ensuring that products entering the EU market are not sourced from heavily deforested areas, the regulation seeks to mitigate deforestation and contribute to broader climate change solutions. While no specific products will be outright banned, companies that do not meet the regulation's criteria must conduct due diligence if they wish to export to or sell within the EU market (European Commission).

Although U.S. agricultural businesses need to adapt to these changing regulations, they also present new opportunities. U.S. businesses that are already adopting sustainable practices could find a competitive advantage, as the demand for deforestation-free products rises. Additionally, those willing to meet the EU’s requirements can maintain or grow their access to one of the world's largest and most lucrative markets.