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
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
Yusen Logistics Russia Introduces New Customs Clearance Services
The Russian government has certified Yusen Logistics Russia (YLRU) as an official Federal Customs license holder. As a result, the… Read More
Kalmar delivers port equipment to Kazakhstan’s Khorgos Gateway
Kalmar, a provider of cargo handling equipment and part of Cargotec, has secured two contracts to supply mobile equipment to… Read More
European Exports Increase During First Half of 2015
Between January and June 2015, euro area exports of goods to the rest of the world rose to $1.13 trillion,… Read More
Macy’s Forms Joint Venture to Test E-Commerce in China
Macy’s, Inc. has announced it has formed a joint venture with Hong Kong–based Fung Retailing Limited to explore retailing in… Read More
Johnson Controls to Build a New Plant in Northeast China
Johnson Controls plans to build a new automotive battery manufacturing facility in the city of Shenyang in northeastern China as it continues to invest… Read More
John Deere, Toyota Suspend Tianjin Operations
Global equipment manufacturer John Deere & Co. has reportedly suspended operations near Tianjin after some of its workers were injured… Read More
U.S. International Trade Commission Extends Trade Relief on Diamond Sawblades from China
In a victory for U.S. producers of diamond sawblades, the U.S. International Trade Commission (ITC) voted to extend the antidumping… Read More
Kenya to Become Hub for Intra-Regional Africa Trade
Kenya is set to become a hub for intra-regional trade in Africa, according to a new report from Frost &… Read More
India Defers Trade Talks With Europe
The government of India has decided to defer the proposed talks with the European Union on the Broadbased Investment and… Read More
USITC Finds No Cause For Antidumping Penalties on Imports of 53-Foot Chinese Containers
The U.S. International Trade Commission (USITC) in Washington, D.C. recently determined that industries in the U.S. “are not materially retarded”… Read More
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