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
Hopes for India to Modernize its IP Regime
Earlier this month, the Department of the Industrial Policy and Promotion (DIPP) of the Indian government announced several reforms to… Read More
WTO Approves Kazakhstan’s Membership
The World Trade Organization formally adopted Kazakhstan’s WTO terms of entry at the organization’s General Council meeting yesterday. Kazakhstan has… Read More
What’s Keeping Manufacturers Up at Night?
U.S. manufacturing is experiencing a growth revival, but concern around labor shortages is escalating. In fact, 98 percent of manufacturers… Read More
Three Containerships Test Waterway as New Suez Canal Nears Opening
Three container-laden ships have transited a new portion of the New Suez Canal this past weekend, two weeks ahead of… Read More
EC Report: Lifting Turkish Truck Quotas By Europeans Would Boost Trade, Jobs
A recent report prepared by the European Commission revealed that trade volume between member states of the European Union and… Read More
WTO Members Eliminate Tariffs on $1 Trillion in IT Trade
The World Trade Organization announced today that negotiators from 54 countries reached an agreement which would expand the Information Technology… Read More
Argentina’s Import Restrictions: What’s Next?
Earlier this year, the World Trade Organization Appellate Body found that certain practices of the government of Argentina with respect… Read More
Detroit Mayor Visiting Japan
Detroit Mayor Mike Duggan is in Japan on a trip devoted exlusively to strengthening and building upon Detroit’s existing relationship… Read More
Increasing Stockpile of Trade-Restrictive Measures Found By WTO
The increasing stockpile of trade-restrictive measures introduced by WTO members remains a cause for concern, and continued vigilance is required,… Read More
The U.S. and China: Friends or Foes?
China’s economy has slowed down in recent years, down from a stratospheric 11 percent annual average before the global financial… Read More
AGOA and Next Steps for African Trade
International trade has rocketed into the headlines in 2015. Never has there been so many trade acronyms bounded around with… Read More
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