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.
Global Commodity Prices Plateau, Threatening Inflation Targets Amid Geopolitical Tensions
Global commodity prices, which sharply declined last year contributing to a reduction in global inflation, have now stabilized, posing challenges… Read More
U.S. Manufacturers Call on Government to Address Trade Issues with India
The National Association of Manufacturers (NAM) released a set of priorities outlining specific steps the U.S. and Indian governments should… Read More
Lufthansa Cargo Focuses on Startups
Lufthansa’s logistics division is the first freight airline globally to participate in the new Logistics Tech Accelerator program in cooperation… Read More
Global Trade in Fake Goods Worth Half a Trillion Dollars a Year
Imports of counterfeit and pirated goods are worth nearly half a trillion dollars a year, or around 2.5 percent of… Read More
IT Professionals Underestimate Impact of Supply Chain Security
Nearly half of respondents in a recent study said they were not confident in the IT security of their supply… Read More
Implications of Giving Financial Data Special Treatment in Trade Agreements
The Information Technology and Innovation Foundation (ITIF), a technology policy think tank, in a new report urged policymakers to walk… Read More
Annual Event Focuses on US-Mexico Relations, Cross-Border Business
With U.S.-Mexico relations making headlines—particularly in this year’s presidential election—ManattJones Global Strategies, the U.S.-Mexico Chamber of Commerce (California Regional Chapter),… Read More
New Poll Reveals Americans Are Tepid On Trade
A newly-released Morning Consult poll of more than 10,000 respondents reveals where Americans stand on the country’s biggest trade policy… Read More
FMC Briefed on Supply Chain Innovation Team Launch
Federal Maritime Commissioner Rebecca Dye recently briefed her fellow commissioners on the upcoming May 3 launch of the FMC’s Supply… Read More
EU-China Trade Deal Would Boost Combined GDP by $200 Billion by 2030
The potential benefits for European jobs and growth of an EU-China Free Trade Agreement (FTA) are underestimated, according to a… Read More
Thomson Reuters Global Trade Survey to Examine State of Market and Business Practice
Thomson Reuters has announced the launch of the second annual survey of global trade professionals from multinational corporations, this year… Read More
Maritime Administration Announces $ 4.9 Million to Strengthen U.S. Shipyard Competitiveness
The U.S. Department of Transportation’s Maritime Administration (MARAD) has awarded $4.9 million in grants to support capital improvements at nine… Read More
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