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.
U.S. Increases Tariffs on Chinese Imports to Protect Domestic Industries
Today, U.S. Secretary of Commerce Gina Raimondo issued a statement supporting President Biden’s directive to the United States Trade Representative… Read More
WATCH How Florida’s Economy Depends on Trade
Two and a half million high-wage Florida jobs rely on international trade. Learn the benefits trade provides the Sunshine State.
WATCH: IEA Oil Market Report 2017
The CSIS Energy & National Security Program hosted Keisuke Sadamori, Director of Energy Markets and Security at the International Energy… Read More
Made in North America
In North America, regional production is the norm in our most advanced manufacturing industries. On the average day, approximately $2.4… Read More
US Trade Policy Shift
The 2016 US presidential election was a vote to initiate change. Central to the campaign rhetoric on both sides was… Read More
Trump’s Challenge for Canada
Dentons, the global law firm, recently released its Global Regulatory Trends to Watch in 2017. In this five-part series, we… Read More
WATCH: Unpacking Trump’s Border Wall
A senior fellow at the Brookings Institution, unpacks the security, economic and environmental impacts of President Trump’s proposed border wall…. Read More
WATCH: US-Mexico & Canada Trade Ties
Experts discuss the future of the North American market at an Atlantic Council forum. Look for long-term development, rather than… Read More
WATCH Blockchain Technology and International Trade
International trading involves many participants all around the globe. These participants may not necessarily have the needed trust of all… Read More
February Jobs: A Trump Bump?
The February jobs report from the Bureau of Labor Statistics was a good one for the United States economy, and,… Read More
WATCH: China: Job Killer or Job Creator?
David J. Firestein, a senior vice president at the EastWest Institute, a New York-based think tank, says “China can become… Read More
What’s Theresa May’s Plan for Post-Brexit UK?
Dentons, the global law firm, recently released its Global Regulatory Trends to Watch in 2017. In this five-part series, we… Read More
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