July 29, 2024

Simply Trade [News]: 28 Million Victims and $236 Billion in Profits--Tackling the Forced Labor Crisis

32 minutes

Forced labor is a growing issue in global trade, with 28 million people affected and $236 billion in profits made annually. Are you aware of the risks in your supply chain?

In this episode of the Simply Trade podcast, host Annik sits down with Renee Chuichiarelli, an expert on forced labor compliance, to dive deep into this critical topic. They discuss the alarming statistics, personal stories, and regulatory changes that every international trade professional needs to know.

Main Points/Takeaways:

- Forced labor is defined as work extracted under threat of penalty without voluntary consent. It's a widespread problem, with migrant workers being 3 times more likely to be affected.

- Renee shares shocking personal stories of forced labor victims, highlighting the lack of awareness and generational acceptance of these practices in some communities.

- Regulatory bodies like the ILO and US Department of Labor are ramping up enforcement, with the Uyghur Forced Labor Act expanding to cover more entities and high-risk sectors like solar panels and automotive parts.

- As an importer, you need to be aware of the Entity List, high-risk sectors, customs guidance, and detention processes to ensure compliance. Educating your team, auditing your supply chain, and leveraging technology are key steps.

- GTC is offering a specialized forced labor compliance course, taught by Renee and experts with firsthand experience, to provide a comprehensive, hands-on approach to this critical issue.

Forced labor is a complex, evolving challenge that requires vigilance and action from all international trade professionals. This episode provides valuable insights and resources to help you navigate the risks and protect your business.

Enjoy the show!

https://globaltrainingcenter.com/forced-labor-supply-chain-tracing/

Find us on YouTube: https://www.youtube.com/@SimplyTradePod

Host: Annik Sobing: https://www.linkedin.com/in/annik-sobing-mba-b226251a2/

Guest Host: Renee Chiuchiarelli: https://www.linkedin.com/in/renee-chiuchiarelli-8964a19/

Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/

Co-Producer: Mara Marquez: https://www.linkedin.com/in/mara-marquez-a00a111a8/

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Simply Trade is not a law firm or an advisor. The topics and discussions conducted by Simply Trade hosts and guests should not be considered and is not intended to substitute legal advice. You should seek appropriate counsel for your own situation. These conversations and information are directed towards listeners in the United States for informational, educational, and entertainment purposes only and should not be In substitute for legal advice. No listener or viewer of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal advice from counsel. Information on this podcast may not be up to date depending on the time of publishing and the time of viewership. The content of this posting is provided as is, no representations are made that the content is error free. The views expressed in or through this podcast are those are the individual speakers not those of their respective employers or Global Training Center as a whole. All liability with respect to actions taken or not taken based on the contents of this podcast are hereby expressly disclaimed.

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