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
New England Bank to Promote Exports
The Provident Bank will be partnering with the U.S. Department of Commerce, The Granite State District Export Council, and state… Read More
Brexit: An Opportunity to Steal Trade From UK?
Wilbur Ross, President-elect Donald Trump’s nominee for U.S. Secretary Commerce, has urged countries to exploit the “God-given opportunity” to steal… Read More
China To Streamline Logistics
The Chinese government has proposed an overhaul of China’s logistics industry and infrastructure. According to a recent report in the… Read More
Potential Oil and Gas Development in Cook Inlet, Alaska
The Bureau of Ocean Energy Management (BOEM) announced the availability of a Final Environmental Impact Statement (EIS) analyzing the possible… Read More
Tech Policy Positions in Silicon Valley
Lincoln Network, in partnership with CALInnovates, released the results of a survey of technology startup founders on government regulation. The… Read More
Donald Trump and the Future of Globalization
The election of Donald Trump demands a reevaluation of the future of globalization and our earlier optimism that the open… Read More
Time for a North American Border Infrastructure Bank?
A recent report from the George W. Bush Institute and the Canada West Foundation makes the case for the establishment… Read More
What Could a U.S.-Mexico Partnership Look Like?
When the Trump administration takes office, one of the clearest articulations of its foreign policy is likely to be its… Read More
The GCC and the Oil Price Crisis
Oil price swings are not only a problem for consumer countries but also for producers, particularly those with oil sectors… Read More
Pacific Nations Celebrate 15 years of Automated Customs
Meeting with other customs officials in a UN meeting room on a frosty European winter’s day, Ben Malas is a… Read More
Lifting the Veil on a Trump Economy
Gazing into the future of a Trump economy, Oxford Economics sees U.S. growth gradually firming from 1.6 percent this year… Read More
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