Latest news with #InternationalTransportForum
Time of India
24-05-2025
- Business
- Time of India
Global Trade Wars: Adapting Transport Industry in Uncertain Times, ET Infra
Advt Advt Intensifying trade uncertainties, including tariff wars , have a great impact on the global transport industry , which has no choice but to "adapt" to the changed situation, the chief of the inter-organisational transport body said."(The global trade war) has an impact on what kind of goods we transport, causing big shifts in items transported from one country to another," said Kim Young-tae, Secretary General of the International Transport Forum (ITF), in a group media interview at the 2025 ITF Summit in the eastern German city of Leipzig."We have no choice but to adapt to different situations in the global environment as we are transporting goods and people," Kim said, explaining that tariffs affect the supply and demand of goods for trade, such as automobiles, reports Yonhap news said geopolitical tensions can also disrupt and restructure maritime trade routes , referring to years-long tensions in the Red Sea, one of the world's most vital waterways in the Middle Donald Trump administration slapped hefty "reciprocal" tariffs on its trading partners, including 25 per cent duties for South Korea, in early April, only to pause them for 90 days. Washington has also imposed sectoral tariffs, including 25 per cent levies on all steel and automobile to a report from global maritime consultancy Drewry, these US trade policies are forecast to lead to a 1 per cent drop in global container shipping volume in 2025."We are attentively monitoring the situation ... and taking into account the trade and climate change issues to make projections on the growth of the transport industry," he annual ITF summit was set to wrap up its three-day run Friday after global transport leaders from more than 80 countries across the world, including South Korea and the Unites States, gathered to discuss measures to boost transport resilience to global the summit, South Korean Transport Minister Park Sang-woo shared South Korea's efforts to promote the use of public transportation and the transition to electric vehicles (EVs) for reducing carbon emissions, according to Park's about how the private transport sector can incorporate AI into their businesses amid differences by country in terms of standards on "safe" and "responsible" use of the technology, Kim said the ITF's policy recommendation may serve as a guideline on the international community's direction on the matter.
Hans India
24-05-2025
- Automotive
- Hans India
Global transport industry sees big shifts from rise of trade protectionism
Seoul: Intensifying trade uncertainties, including tariff wars, have a great impact on the global transport industry, which has no choice but to "adapt" to the changed situation, the chief of the inter-organisational transport body said. "(The global trade war) has an impact on what kind of goods we transport, causing big shifts in items transported from one country to another," said Kim Young-tae, Secretary General of the International Transport Forum (ITF), in a group media interview at the 2025 ITF Summit in the eastern German city of Leipzig. "We have no choice but to adapt to different situations in the global environment as we are transporting goods and people," Kim said, explaining that tariffs affect the supply and demand of goods for trade, such as automobiles, reports Yonhap news agency. Kim said geopolitical tensions can also disrupt and restructure maritime trade routes, referring to years-long tensions in the Red Sea, one of the world's most vital waterways in the Middle East. The Donald Trump administration slapped hefty "reciprocal" tariffs on its trading partners, including 25 percent duties for South Korea, in early April, only to pause them for 90 days. Washington has also imposed sectoral tariffs, including 25 percent levies on all steel and automobile imports. According to a report from global maritime consultancy Drewry, these U.S. trade policies are forecast to lead to a 1 percent drop in global container shipping volume in 2025. "We are attentively monitoring the situation ... and taking into account the trade and climate change issues to make projections on the growth of the transport industry," he added. The annual ITF summit was set to wrap up its three-day run Friday after global transport leaders from more than 80 countries across the world, including South Korea and the Unites States, gathered to discuss measures to boost transport resilience to global shocks. In the summit, South Korean Transport Minister Park Sang-woo shared South Korea's efforts to promote the use of public transportation and the transition to electric vehicles (EVs) for reducing carbon emissions, according to Park's office. Asked about how the private transport sector can incorporate AI into their businesses amid differences by country in terms of standards on "safe" and "responsible" use of the technology, Kim said the ITF's policy recommendation may serve as a guideline on the international community's direction on the matter.
Daily Tribune
23-05-2025
- Business
- Daily Tribune
Bahrain unveils strategy to boost transport resilience
TDT | Berlin His Excellency Dr. Shaikh Abdulla bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications, highlighted Bahrain's integrated strategy to enhance the resilience and sustainability of its transport and logistics systems. Dr. Shaikh Abdulla bin Ahmed was speaking as participated in the International Transport Forum (ITF) Summit, held in Leipzig, Federal Republic of Germany, from May 21 to 23. Organised under the Organisation for Economic Co-operation and Development (OECD), the summit brings together transport ministers, international organisations, private sector representatives, experts, and academics. The Minister outlined the Kingdom's proactive approach, built on three pillars: digital transformation, public-private partnership, and human capital development. He noted that this strategy supports Bahrain Economic Vision 2030 and improves preparedness to address global challenges such as climate change, cyber threats, geopolitical instability, and energy market fluctuations.
Hindustan Times
22-05-2025
- Automotive
- Hindustan Times
Global NCAP and Latin NCAP call for mandatory vehicle safety labels worldwide
GNCAP and Latin NCAP have called for a safety label to be stuck on cars for consumer information. Check Offers At this week's International Transport Forum (ITF) Summit, Global NCAP and Latin NCAP released a joint report urging governments worldwide to introduce mandatory vehicle safety labelling for all new cars. The report highlights that safety rating labels, especially when based on familiar systems like star ratings from NCAPs, are simple and effective in communicating complex safety data. Much like energy efficiency labels on appliances or nutrition facts on food, vehicle safety labels would inform consumers at the point of sale, typically in dealership showrooms, where they currently lack access to clear safety comparisons. This information directly helps purchasing decisions and in turn, encourages manufacturers to design safer vehicles. Mandatory participation in the program will ensure that all car models, including poorly performing ones, are included, leaving no room for unsafe vehicles to avoid scrutiny. Rising accident risk With nearly two billion cars manufactured since 2000, the world is experiencing rapid motorisation. However, many of these vehicles still lack essential safety features, contributing to a rising global toll of road deaths and serious injuries. Also Read : Nissan Kicks scores 5 stars in Latin NCAP crash test Role of governments and next steps The report also pointed out that vehicle safety labelling schemes work best when backed by governments, particularly through the ministry responsible for road safety. Consistent label designs, supplementary material like brochures and websites and integration with existing fuel efficiency labels could accelerate implementation and reduce costs. Global NCAP and Latin NCAP recommend that wherever a national NCAP exists, its safety ratings should form the basis for labelling. Star ratings are preferred for their simplicity, and governments are encouraged to transition any voluntary labelling schemes into mandatory ones as soon as possible. Cost-effective tool to save lives With road trauma still a leading global health crisis, especially in low- and middle-income countries, Global NCAP and Latin NCAP say now is the time for governments to act. Safety labelling is a cost-effective and powerful way to drive market change and save lives according to the safety agencies. Richard Woods, CEO of Global NCAP, said the initiative would empower buyers and hold manufacturers accountable. 'NCAP programmes across the world are helping to democratise vehicle safety," he said. 'Mandatory vehicle safety labelling would provide consumers with the information they need to choose safety." Echoing this, Latin NCAP Secretary General Alejandro Furas called the proposal a vital step in encouraging safer choices. 'A vehicle safety labelling system directly impacts consumer behaviour. We hope this report becomes a tool for governments, especially those delaying the adoption of such schemes," he noted. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 22 May 2025, 11:43 AM IST
Korea Herald
22-05-2025
- Business
- Korea Herald
Global transport leaders warn of rising risks from US tariffs at ITF 2025
Maritime transport accounts for 75% of trade, vulnerable to tariff wars: ITF chief LEIPZIG, Germany ― Global transport executives voiced concerns over escalating trade wars, particularly driven by tariff measures imposed by the US, and their impact on maritime transport at the International Transport Forum 2025's annual summit in Leipzig, Germany. 'The transport links that connect the world are under pressure and governments face enormous tasks to protect transport infrastructure against increasing disruptions,' said Kim Young-tae, secretary-general of the International Transport Forum, during a press conference at the Congress Center Leipzig on Wednesday. '(One of their challenges is the global industries') more connected, and therefore more vulnerable, supply chains. Maritime transport moves around 75 percent of global cargo, and these disruptions can have an immediate impact.' Kim highlighted the Red Sea crisis, which has effectively forced vessels to abandon their most efficient sea routes, leading to a surge in international freight rates. 'We know that we're passing through very difficult moments, including the tariff issues, geopolitical tensions and (ongoing challenges) since the COVID-19 pandemic in 2020,' Kim noted. 'I think that's why the platform like the ITF should play (a role as) a very efficient and productive gathering of different views from different actors from the world.' Kim urged many countries to join the ITF to enhance diversity and strengthen collaboration on key agendas, noting that out of the 69 member countries, 44 are from Europe. Claudia Stutz, state secretary of the Ministry of Transport of Germany, also expressed concerns on the ongoing trade dispute, saying, 'For Germany, our focus has shifted significantly due to the global crisis and geopolitical tensions. Economic security and supply (chain) and the protection of critical infrastructure have taken center stage. … Increasing the resilience of transport change is a key objective of German transport and infrastructure policy.' Germany, which primarily exports automobiles, pharmaceuticals, machinery and electrical equipment to the US, is among the European countries most affected by the tariff policies initiated by US President Donald Trump. According to the Leibniz Institute for Economic Research at the University of Munich, Germany is expected to incur losses of 290 billion euros ($329 billion) in the next four years due to the "reciprocal tariffs" from the US. Under Chile's presidency this year, the annual ITF summit has been running from Tuesday to Friday, drawing approximately 1,253 participants, including 57 ministerial-level delegations, along with representatives from international organizations and businesses. Founded in 2006, the ITF at the Organization for Economic Cooperation and Development is the largest annual gathering of transport ministers in Leipzig, serving as a platform to address global transport issues and policies. South Korea joined the European Conference of Ministers of Transport, the predecessor of the ITF, in 2000.
