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.
U.S. Increases Tariffs on Chinese Imports to Protect Domestic Industries
Today, U.S. Secretary of Commerce Gina Raimondo issued a statement supporting President Biden’s directive to the United States Trade Representative… Read More
Can Florida Compete in the Global Cargo Business?
Florida’s ports are famous for underperforming. Last year, they handled just 10.2 percent of the U.S. export container traffic and… Read More
Off-Shore, Multi-Use Mega-Port Planned In Gulf of Mexico
After seven years of planning and research, plans are officially underway to build a multi-use, offshore mega-port in the Gulf… Read More
Euler Hermes Launches Energy Trade Credit Group
The North American energy sector‘s volatility coupled with stricter banking regulations have made it increasingly difficult for energy companies to… Read More
Multi-Billion Dollar Air Cargo Price Fixing Litigation Headed to Trial in Brooklyn
A trial has been set for January 25, 2016 in a class action seeking billions of dollars in compensation from… Read More
What Does the ACE Deadline Delay Mean for Your Business?
In late August, U.S. Customs and Border Protection announced that the mandatory deadline for filing ACE Entry Summaries and ACE… Read More
It’s Complicated: Effects of Removing Restrictions on U.S. Crude Oil Exports
The U.S. Energy Information Administration, the statistical arm of the U.S. Department of Energy, earlier this month released a report… Read More
Fact and Fantasy About China’s Investments in Africa
China’s increased trade with and investment in Africa has boosted the continent’s growth rate, but has also generated controversy. A… Read More
Heineken Buys a Stake in U.S. Based Craft Brewer
Old-world Dutch brewer Heineken has taken a major step into the new world of American craft beer making with the… Read More
Retail Imports Begin To Climb As Holidays Approach
Import cargo volume at the nation’s major retail container ports is expected to increase 1.2 percent this month over the… Read More
U.S., EU Widen Sanctions On Russia
The United States and the European Union are once again widening sanctions against dozens of Russians and Ukrainian individuals and… Read More
German Ambassador Believes India-EU Trade Talks Will be Restarted Soon
Germany’s new ambassador to India has said that he expects the stalled India-European Union free trade agreement talks will resume… Read More
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