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
Debunking The Top Ten Myths About International Distribution Agreements
Most companies today know that foreign bribery is bad, and may even know it’s illegal. They may have heard of… Read More
California Releases Plan to Transform Freight Transportation System
California state agency leaders have released the California Sustainable Freight Action Plan, a blueprint for transforming the state’s multi-billion dollar… Read More
Brexit Makes TTIP More Important
In the shadow of the British referendum, the European Union and the United States finished their fourteenth round negotiations on… Read More
DHL Announces Investments in U.S. Ecommerce Infrastructure and Services
Deutsche Post DHL Group has announced a $137 million investment plan for the U.S. domestic and crossborder ecommerce market. The… Read More
Manufacturer, Importer Admit Fraud in New York Trade Case
The defendants in a civil False Claims Act case pending in a U.S. district court in New York have admitted… Read More
U.S. Trade Deficit Widens in Second Quarter
The U.S. trade deficit widened in June and that, combined with moderate inventory accumulation numbers, has sparked pessimism about economic… Read More
Gabon’s Mission: Create Jobs, Train Workers
Gabon’s is an economy dependent upon exports of its rich array natural resources. Until the 1970s, manganese and timber were… Read More
WTO Report: Resist Protectionism and Get Trade Moving Again
WTO members need to avoid putting up barriers and “get trade moving again” in order to address slow global economic… Read More
Presidential Candidates Critique U.S. Trade Policy at Conventions
Based on the rhetoric from both presidential candidates at the recent Democratic and Republican National Conventions, it seems that no… Read More
Mexico Ratifies Trade Facilitation Agreement
Mexico has ratified the World Trade Organization’s Trade Facilitation Agreement (TFA) in the latest signal of support for the landmark… Read More
New UK International Trade Secretary Visits Los Angeles
The British American Business Council Los Angeles hosted UK Secretary of State for International Trade Dr. Liam Fox at a… Read More
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