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.
Logistics Trade Bodies Urge Action on New EU Import Rules
Global and European trade associations representing shippers, forwarders, and vessel operators have issued an urgent alert for businesses involved in… Read More
CBSA Credit Offsets: What Importers Need to Know
The Canada Border Services Agency (CBSA) recently changed its business process as part of phase one of the Assessment and… Read More
ITC Issues Initial Determination in Favor of Fitbit
The International Trade Commission has issued an initial determination in favor of Fitbit in an ITC case brought by Jawbone…. Read More
C.H. Robinson Acquires APC Logistics
C.H. Robinson has agreed to acquire APC Logistics, a leading provider of freight forwarding and customs brokerage services in Australia… Read More
Regional Trade Could Boost African Economies
Despite an average annual growth in exports of 8.5 percent since 2010, trade between African regions remains low when compared… Read More
U.S. Pharmaceuticals Have Enjoyed Their Day in the Sun
Despite having the highest healthcare expenditure of all industrialized nations—17.1 percent of GDP in 2013—U.S. public health is far below… Read More
U.S., Lao Presidents Ink Partnership at Historic Visit
On the occasion of his state visit to Laos, the first for a U.S. president, President Barack Obama and President… Read More
Gulf of Mexico Oil and Gas Operators Back in Business
Offshore oil and gas operators in the Gulf of Mexico have re-boarded platforms and rigs and are restoring production following… Read More
Saudi-Russian Oil Deal: Behind the Headlines
The headlines on yesterday’s Saudi-Russian oil deal blared that the two petroleum giants may be cutting back on production in… Read More
OPEC Oil Export Revenue Drops to Lowest Level Since 2004
Members of the Organization of the Petroleum Exporting Countries (OPEC) earned $404 billion in net oil export revenue in 2015,… Read More
Obama’s Acceptance of Climate Agreement: Is it on the Up and Up?
What does a U.S. president do when he has concluded a groundbreaking climate agreement but doesn’t think he can get… Read More
Brazilian Market Reopened to U.S. Beef Exports
The U.S. Department of Agriculture (USDA) has reached agreement with Brazil’s Ministry of Agriculture, Livestock and Food Supply to allow… Read More
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