It’s easy to take for granted our accessibility to products native to or manufactured in countries on the other side of the world. International trade makes it possible to enjoy a dinner of Kobe beef from Japan, tropical fruits from India and a bottle of wine from France, without having to wait days (or weeks) for all the ingredients to arrive. From the days of the Silk Road between Europe and Asia in the 1200s, international trade has facilitated the exchange of goods and services between nations. As transportation evolved to make doing business internationally more practical, the result has been a global economy where events in one county can impact product supplies, demand and prices in countries thousand of miles away. For consumers, global trade means more business competition, which (despite tariffs and other additional costs that do not apply to domestic trade) typically results in lower prices for the products they want to purchase. It also opens up more markets where countries can sell the goods that are more abundant within their borders. The Cycle of Global Trade Relationships International trade can, over time, change the nature of relationships between two countries. One familiar example is when a poorer nation provides labor and facilities to more developed trading partners, acquiring wealth that can then be channeled into greater domestic productivity. When that happens, it could eventually result in a reversal of roles, where the product importer becomes an exporter. One sees elements of this in the trade relationship between the U.S. and China.
Maersk Infuses $600 Million into Nigeria’s Port Infrastructure, Bolstering Maritime Trade Expansion
A.P. Moller-Maersk (Maersk) has unveiled a substantial $600 million investment geared towards enhancing Nigeria’s port infrastructure, marking a pivotal step… Read More
Is Trump Ready to Embark On Trade War?
Recently, the US administration decided in favor of the introduction of trade barriers on the imports of washing machines and… Read More
Piloting Blockchain Payment System For Bulk Shipping
The global shipping industry is one of the oldest in the world and a trillion-dollar business. In fact nearly all… Read More
Four Reasons to Comply with the Latest Human Trafficking Regulations
Slavery and human trafficking are still prevalent in America today. An estimated 17,500 foreign nationals and 200,000 Americans are being… Read More
IF DAYS COUNT, HOW ABOUT HOURS?
New York’s John F. Kennedy International Airport is situated in the largest and densest consumer market in the United States,… Read More
Emerging Markets: How Logistics Executives See Them
Logistics executives share the International Monetary Fund’s view that 2018 will be a stronger year for emerging markets. So concludes… Read More
Trump’s Solar Tariffs Catching Growing Criticism
President Donald Trump’s decision earlier this week to impose safeguard tariffs on imported solar cells and modules, has been met… Read More
BREAKING NEWS: International Trade Commission Knocks Down Duties on Canadian Aircraft
In a unanimous decision, the United States International Trade Commission (ITC) knocked down antidumping (AD) and countervailing duties (CVD) on… Read More
BREAKING NEWS: Trump at Davos: ‘America First Does Not Mean America Alone’
President Donald J. Trump, speaking at the World Economic Forum in Davos, Switzerland, struck a tone similar to a governor,… Read More
Iran Update 2018
On January 12, President Donald Trump announced that he would waive the economic sanctions against Iran pursuant to the 2015… Read More
INFOGRAPHIC: Smart Manufacturing
Smart manufacturing is having a major impact on the entire manufacturing industry worldwide, but which technologies are driving the smart… Read More
Schiphol Cargo Reaches Record 1.75 Million Tons in 2017
Schiphol Cargo reported an increase of 5.4 percent on yearly tonnage in 2017 with strong demand in the Far East… Read More
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