International Trade News
General Mills will be the first tenant at a tri-modal logistics facility near Manchester, England, set to open next year. The inland port will offer rail, truck and short-sea shipping links.
U.S. consumer spending and new homebuilding are forecast to grow so steadily this year that imports from Far East Asia are likely to grow by a faster-than-expected 4.5 percent, year-over-year.
Japan posted a monthly trade surplus for the first time in nearly three years in March, as exports grew on the back of a weaker yen, led by robust U.S.-bound shipments, while imports tumbled due largely to lower oil prices.
The Mexican government is pumping $5 billion — more than 77 billion pesos — into its network of 117 ports, as the country’s rising middle class demands more imports and Mexico rises as a regional manufacturing powerhouse.
In the first two months of 2015, Chinese exports by value to Hong Kong, its second-largest trading partner, fell 6.5 percent year-over-year, while outbound shipments to Japan, China’s third-biggest receive of its exports, slipped 0.4 percent in the same period, according to statistics from Global Trade Information Systems, a sister company of JOC.com within IHS Maritime & Trade.
The first consignment of South African apples ever shipped to China is on the water and will arrive in Shanghai on May 2 following eight years of negotiations between the two countries over access to the giant Chinese market.
The term “One Belt One Road” has invaded reports on China trade over the past few weeks, with Beijing officials rarely missing a chance to extol the virtues of the regional initiative that brings together the Silk Road Economic Belt and Maritime Silk Road developments aimed at linking China with Europe and Africa, and the countries in between.
Two road trips 50 years apart reveal how far Mexico has come — and hasn’t — in its development as a trade giant.
Phil Peters, president of Cuba Research Center, a nonprofit organization in Alexandria, Virginia, says the U.S. and Cuba have been making progress in normalizing their diplomatic and trade ties, and overcoming political opposition within the United States to the Obama administration’s clear desire to end the U.S. trade embargo of Cuba.
The low cost sourcing model that has driven the apparel manufacturing industry from country to country in search of cheaper production alternatives is not sustainable and has to change, top shippers said at a sourcing conference.