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.
Navigating Global Investment Challenges: UNCTAD’s Call for Equitable Development Strategies
Amidst evolving global economic landscapes, the United Nations Conference on Trade and Development (UNCTAD) has unveiled a comprehensive report titled… Read More
U.S. Trade Was Down in 2015
The United States goods and services trade deficit for 2015 was $531.5 billion, up $23.2 billion or 4.6 percent from… Read More
Patent Complaints Against Apple, AT&T Filed
Immersion Corporation, a developer of touch feedback technology, has filed a complaint with the U.S. International Trade Commission against Apple… Read More
Mercedes Benz to Develop New Texas Facilities
A 31-acre site in Grapevine, Texas, will be the new home of Mercedes-Benz, USA’s planned regional Parts Distribution Center (PDC) and… Read More
European Commission and Mexico Start Negotiations on Trade of Organic Products
The government of Mexico and the European Commission have started negotiations towards a bilateral agreement on trade in organic products…. Read More
TriLinc Global Impact Fund Makes Impact Investments in Latin America and Sub-Saharan Africa
TriLinc Global Impact Fund has approved $9.5 million in term loan and trade finance facilities to companies in Argentina, Ecuador,… Read More
South Korea Facing Tough Economic Times
South Korea’s economic growth shrank to 2.6 percent last year, the slowest rate since 2012 and down from the previous… Read More
European Commission Opens Consultation on Measures to Prevent Dumped Imports from China
The European Commission has launched an online public consultation on methods used in the EU’s antidumping procedures concerning China. The… Read More
Commerce Expands the List of Cuba Exportable Products and Services
The U.S. Department of Commerce (DOC) has expanded the list of products and services that U.S. companies can export to… Read More
Report Fills Gap on Trade Statistics in the Pacific
Primary industries are the backbone of many Pacific Island countries but there is a great need for more up-to-date information… Read More
International Chamber of Commerce and UNCTAD to Work Together on Development Agenda
The International Chamber of Commerce (ICC) and UNCTAD have pledged to strengthen their work maximizing the benefits of international trade… Read More
U.S. Mayoral Group Supports Ratification of Trans Pacific Agreement
The U.S. Conference of Mayors (USCM) has come out in favor of the Trans Pacific Partnership (TPP), the far-reaching regional… Read More
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