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.
Logistics Trade Bodies Urge Action on New EU Import Rules
Global and European trade associations representing shippers, forwarders, and vessel operators have issued an urgent alert for businesses involved in… Read More
Trade Experts Mostly Negative on Trump Tariffs
The verdicts on the Trump steel and aluminum tariffs from a raft of international trade experts are coming in, and… Read More
The President’s Wild Week of Tariffs
It wasn’t surprising when President Donald Trump announced last week that he would be imposing tariffs on imported steel and… Read More
UCLA Forecast Sees ‘Regime Change’
UCLA Anderson Forecast’s first quarterly report in 2018 sees a definitive change in the nation’s economy, which is moving from… Read More
US Industries Slam Trump Tariffs
United States industries that consume steel and aluminum harshly criticized President Donald Trump’s decision yesterday to impose new tariffs on… Read More
BREAKING NEWS: Trump Signs Tariffs for Steel and Aluminum Imports
President Donald Trump did what he said he was going to do last week, signing a proclamation imposing new 25-percent… Read More
INTTRA Grows Container Orders to 45 Million
INTTRA, the largest neutral electronic transaction platform, software, and information provider for the ocean shipping industry, has announced significant growth… Read More
United States Tax Act Could Lead To Repatriation of $2 Trillion of Overseas Investment
The United States “Tax Cuts and Jobs Act” will have significant implications for global FDI patterns. It will affect multinational… Read More
Donald Trump, Steel Tariffs, and the Costs of Chaos
When President Nixon announced on August 15, 1971 that the United States would impose a 10-percent across-the-board tariff on imports—the… Read More
Oil Market Implications of the End of the Iran Deal
Last month, President Donald Trump told Congress and United States partners in Europe that he will not extend waivers of… Read More
WATCH: Maersk Line’s CCO on 2018 Shipping Outlook
Vincent Clerc, chief commercial officer at Maersk Line, discusses the container shipping industry in 2018, his strategy for growth, consolidation… Read More
‘Built in Detroit’ Launched to Help Businesses Develop Export Strategy
The Detroit Economic Growth Corporation (DEGC) announced the launch of its Built in Detroit initiative, which is aimed at supporting… Read More
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