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.
Global Commodity Prices Plateau, Threatening Inflation Targets Amid Geopolitical Tensions
Global commodity prices, which sharply declined last year contributing to a reduction in global inflation, have now stabilized, posing challenges… Read More
US Initiates Antidumping and Countervailing Duty Investigations
US Secretary of Commerce Wilbur Ross has announced the initiation of new antidumping duty (AD) and countervailing duty (CVD) investigations… Read More
WANTED: COOL CITIES, SMART PEOPLE
Speaking of e-commerce, a little outfit called Amazon has been known to dabble in that. They’ve also been known to… Read More
US Steel Users Warn Trump Against Section 232 Restrictions
A letter from 15 trade associations representing over 30,000 US steel-using manufacturers and employing one million American workers was sent… Read More
US Issues Countervailing Duties On Products From China And India
US Secretary of Commerce Wilbur Ross has announced the affirmative final determinations in the countervailing duty (CVD) investigations of fine… Read More
China-EU Pilot Boosts Trade Between China and Schiphol
The first shipment to land at Amsterdam Airport Schiphol as part of a pilot program to streamline and secure Customs… Read More
Agility is First Forwarder to Work with Maersk IBM on Blockchain
Agility is the first freight forwarder to collaborate on a Maersk-IBM solution to provide more efficient and secure methods for… Read More
Congress Missed an Opportunity to Reform Corporate Tax
The centerpiece of the new tax law is a cut in the corporate tax rate from 35 percent to 21… Read More
Leaving NAFTA: Will it Undermine Trump’s Energy Policy?
The United States became a net exporter of natural gas for the first time since in at least 60 years,… Read More
HOW WE REACT TO UNFAIR TRADE, 1773-2018 EDITION
No butts in line! How many times did you hear that in kindergarten? Point being that Americans learn the concept… Read More
Congress Missed an Opportunity to Reform Corporate Taxes
The centerpiece of the new tax law is a cut in the corporate tax rate from 35 percent to 21… Read More
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