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
California Exports Take a Dive
California’s merchandise export trade fell 5.4 percent in October from the same month last year, according to a Beacon Economics’… Read More
Commerce Preliminarily Finds Subsidization of Cold-Rolled Steel Imports from Brazil, China, India, and Russia
On December 16, 2015, the U.S. Department of Commerce announced its preliminary determinations in the countervailing duty (CVD) investigations of… Read More
Obama May Have to Wait Until He is a Private Citizen to Claim Victory on TPP
U.S. Senate Majority Leader Mitch McConnell (R-Kentucky) said the Trans-Pacific Partnership will be defeated it is sent to Congress for… Read More
U.S. Trade Deficit Widens in October
The U.S. trade deficit widened 3.4 percent in October to $43.9 billion as exports fell to their lowest level in… Read More
Global Auto Market Regains Momentum
Global car sales regained momentum in September, showing its strongest performance since March with the improvement led by double-digit, year-over-year… Read More
Steelworkers Leadership Urges Rejection of TPP
The international executive board of the United Steelworkers (USW) adopted a formal resolution urging rejection of the proposed 12-nation Trans-Pacific… Read More
UPS Covers Last Mile With Connect India
Connect India is now a UPS authorized shipping outlet that is expected to connect customers in semi-urban and rural regions… Read More
Union Opposes Customs Bill
In a new letter being sent to all congressional offices today, the Communications Workers of America (CWA) notes its strong… Read More
WTO Ministerial Delivers IT Agreement
Nairobi, Kenya – At long last, the effort to expand the Information Technology Agreement (ITA) is now irreversibly bound for… Read More
Coface Sees Higher Risk in Global Business Picture
Of the 14 sectors monitored by the global credit insurer Coface economists in three regions of the world, there were… Read More
NAM Supporting U.S. Trade Facilitation Measure
The National Association of Manufacturers (NAM), the largest manufacturing association in the United States, is urging member of Congress to… Read More
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