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
NAFTA Negotiations Restart Today
Negotiators from Canada, Mexico, and the United States are gathering in Montreal beginning today to try to negotiate a revised… Read More
China: US Violated Sovereignty in South China Sea
China has accused the United States of violating its sovereignty after a US missile destroyer sailed near Huangyan Island, also… Read More
USTR: China and Russia Are Not Living Up to WTO Commitments
China and Russia have failed to embrace the market-oriented economic policies championed by the World Trade Organization (WTO) and are… Read More
Saving Energy Across The Board
The manufacture of cement is energy-intensive and to cement manufacturers energy efficiency is very important. In order to ensure an… Read More
FMC Issues Regulatory Reform Priorities Plan
The Federal Maritime Commission has released a plan that identifies regulations under its purview that are currently suitable for reform… Read More
BREAKING NEWS: Trump Imposes New Tariffs on Imported Washing Machines and Solar Cells
President Donald Trump has approved recommendations to impose safeguard tariffs on imported residential washing machines and solar cells and modules,… Read More
BREAKING NEWS: Department of Commerce Submits Aluminum Section 232 Report to the President
It’s happened again. Once again the United States Department of Commerce submitted the results of a Section 232 investigation to… Read More
Trump Wants to Sell US Natural Gas to S**thole Countries
President Donald Trump may have denigrated Haiti, El Salvador, and African nations by using a term now ubiquitous on cable… Read More
DHL Global Trade Barometer Projects Stable Trade Growth for the US
DHL’s new Global Trade Barometer provides a solid prediction of ongoing positive trade growth for the United States. The US is… Read More
Understanding the Sub-Saharan African Business Environment in 2018
The Sub-Saharan African (SSA) business environment, which offers great opportunities for trade and investment, is not so complicated to understand… Read More
Innovation Mercantilists Subverting Competition in Key Industries: Report
Brazil, China, Indonesia, Russia, and Vietnam were among 2017’s worst innovation mercantilism, according to a report released today by the… Read More
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