Resilinc Thought Leadership White Paper
New Forced Labor Legislation To Impact Global Supply Chains
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.