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
As the Doors Open to Cuba, Should Your Business Be Entering?
The easing of sanctions against Cuba is creating opportunities for some businesses to explore a market that has been largely… Read More
Manufacturers Urge Ratification of TPP
“As you seek to advance the North American relationship this week, manufacturers in the United States urge you to build… Read More
Fairphone Establishes Transparent Supply Chain for Conflict Minerals
Fairphone has announced that conflict-free tungsten from Rwanda will become part of its supply chain. With this achievement, Fairphone has… Read More
First Round of EU-Mexico Negotiations to Update Economic Partnership Agreement Completed
Delegations of the European Union and Mexico met in Brussels earlier this month for the first round of negotiations to… Read More
Debunking the Top Ten Myths About International Distribution Agreements
[Editor’s note: This is the second in a series of ten articles debunking some common misconceptions about international distribution agreements,… Read More
U.S. Trade: Prospects Dimming for TPP?
When there were more than 20 people running for president of the United States, the future of the Trans-Pacific Partnership… Read More
BREAKING NEWS: UK Votes to Leave European Union
Today is the day that many in the international community dreaded but thought would never come. After going to the… Read More
Energy and Climate: Where the Presidential Candidates Stand
During this presidential election campaign the two major candidates hold views on energy and the environment that are pretty much… Read More
Liberia Ratifies WTO Agreement
Liberia’s House of Representatives has concurred with the Senate on the ratification of the country’s accession protocol to the World… Read More
USITC Investigating Apple and AT&T Over Imports
The U.S. International Trade Commission (USITC) has voted to institute an investigation of certain mobile and portable electronic devices incorporating… Read More
EU Trade in Services Continued to Rise in 2015
The international trade in services of the European Union (EU) has increased steadily and significantly over the last six years…. Read More
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