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
U.S. Challenges China’s Export Duties in WTO
U.S. Trade Representative Michael Froman announced last week that the United States has launched a new trade enforcement action against… Read More
Supply Chain Is Unsung Hero Of The U.S. Aerospace and Defense
The commitment of the United States to international trade in aerospace and defense was prominently on display at the opening… Read More
South China Sea: Uncertain Times for Shipping and Trade
Tension and uncertainty are nothing new in the South China Sea. From Chinese skirmishes with Vietnamese forces in 1974, to… Read More
Global Survey Finds Mid-Sized Firms See Natural Disaster Exposures Increasing
Even as middle market businesses in all parts of the world view their exposures to natural catastrophes as increasing, many… Read More
TPP Critical for Ensuring Digital Trade
The Trans-Pacific Partnership (TPP) represents the best opportunity to establish high-standard rules that will permit digital trade—the lifeblood of the… Read More
European Commission Takes Steps on Transparency and Taxation
The European Commission has announced next steps in its campaign to boost tax transparency in order to fight tax evasion… Read More
Sub-Saharan Africa: An Investable Continent
Despite several initiatives, programs, agreements and bilateral investment treaties established to promote trade and investment between the U.S. and Sub-Saharan… Read More
Preparing Your Supply Chain for Brexit
The United Kingdom’s vote to leave the European Union has been rattling markets and supply chains for the last few… Read More
Navitas Celebrates 100th pharmaREADY Customer
A U.S. based life sciences company is the 100th company that will utilize pharmaREADY to publish and submit dossiers on… Read More
China’s Changing Energy Picture
Some experts have forecast a peak in Chinese coal consumption for 2030. Other say it will come sooner, in 2020…. Read More
Congress May Restrict Boeing Sales to Iran
Several Democrats in the U.S. House of Representatives joined Republican colleagues last week in supporting setting conditions before Boeing can… Read More
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