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.
Reimagining Africa’s Economic Growth: Insights from Okonjo-Iweala
Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, emphasized the imperative for Africa to bolster trade and investment in value-added… Read More
U.S. Moves to Ease Some Export Controls
The U.S. Departments of State and Commerce proposed earlier this month new rules to transfer certain items from more restrictive… Read More
U.S. Exporters Laud Passage of Trade Promotion Authority
U.S. agricultural and equipment exporters applauded the passage of the Trade Promotion Authority (TPA) bill in the U.S. Congress. The… Read More
Qatar Buys Four of the Last Five Boeing Globemaster III Transport Planes
If you’ve got a spare $225 million in your pocket, you might be interested in buying a Boeing C-17 Globemaster… Read More
U.S.-Cuba Embassy Openings Won’t Change Trade Embargo
The U.S. and Cuba announced today the reopening of embassies in Washington and Havana for the first time in more… Read More
Los Angeles and Long Beach Ports Cooperate on Supply Chain
The ports of Los Angeles and Long Beach have established a series of joint working groups desgined to optimize facilities… Read More
Obama Signs Two Global Trade Bills
President Barack Obama signed two pieces of legislation addressing issues of international trade at a White House signing ceremony yesterday…. Read More
U.S.-NAFTA Trade Down in April
The value of freight shipments between the United States and its partners in the North American Free Trade Agreements—Canada and… Read More
UK Ocean Carrier Kestrel Starts Offering Capacity Online
Kestrel Liner Agencies, an ocean freight provider based in the UK and serving the U.S., Caribbean, and Latin America, has… Read More
Dicom Transportation Expands U.S. Offerings
Montreal-based Dicom Transportation Group has acquired Orbis Logistics to add final mile capabilities and a wider distribution presence in the… Read More
Africa Trade Promotion Act Passes U.S. Senate
The U.S. Senate has passed the Africa Growth and Opportunity Act (AGOA), which could potentially support small businesses and smallholder… Read More
International Trade Benefits Florida’s Agricultural Industry
International trade’s impact to Florida’s economy cannot be denied. Global business and foreign direct investment accounts for approximately 17 percent… Read More
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