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 Adjusts Surcharges Amid Escalating Red Sea Risks
Recent developments in the Red Sea have prompted Maersk Line to implement surcharge adjustments and reroute vessels, signaling heightened concerns… Read More
Ten EU Trade Delegations to Visit Iran
In the wake of the Iran Nuclear agreement and the expected lifting of sanctions on the Islamic Republic, Iran’s Trade… Read More
Tianjin Explosions Will Hike Insurance Rates
The explosions that rocked the Chinese port of Tianjin in mid-August will likely result in higher property insurance rates thanks… Read More
Record Containers for PANYNJ in July
The Port of New York and New Jersey handled a record number of shipping containers in July. The growth rate… Read More
McDonald’s Eyes Siberia for ‘Big Mac Attack’
The mere mention of the word Siberia and the minds of most Westerners conjure up visions of 5 million square… Read More
North Florida Logistics Freight Logistics Zone in the Works
Northeast Florida is planning to be the first in the state to have a freight logistics zone identified and ready… Read More
EMO Trans Announces Expansion in Asia
EMO Trans Inc., a provider of international logistics and supply chain solutions, announced the opening of a new full-service office… Read More
Arctic Summit is About More Than Climate Change
When President Barack Obama became the first U.S. president to visit north of the Arctic Circle yesterday, it was climate… Read More
Intermarine Opens Quito Office
Intermarine, LLC, a provider of project, breakbulk, and heavy lift ocean transportation and marine logistics services, has opened an office… Read More
Kallman Worldwide Opens New Regional Trade Center in Chile
A new U.S. Regional Trade Center (USRTC) in Chile has opened its doors “giving U.S. businesses looking to launch or… Read More
Major U.S. Trade Mission Planned to Canary Islands
The Virginia/Washington, D.C. District Export Council (DEC) is organizing a U.S. Trade Mission to the Canary Islands, November 16-20, 2015…. Read More
Strong Supply Threatens to End Heyday for Tanker Owners
A surge in crude tanker vessel capacity over the next two years will lead to a fall in ship-owner earnings… Read More
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