International Trade News
U.S. exports of several agricultural products including pork, beef, poultry, apples and forage products are shrinking, and some export opportunities could be lost permanently because of dockworker slowdowns and the gridlock that has emerged at West Coast ports, the Agriculture Transportation Coalition reports.
In a sea change in Asia-Pacific trade among the world’s three largest economies, the United States retained its status as Japan’s biggest export market for the second year in a row in 2014, edging out China.
The U.S. formally accepted a landmark World Trade Organization agreement that could cut the cost of trade by up to 15 percent and inject up to $1 trillion into the global economy, providing a much-needed boost to sluggish international trade growth.
With the global middle class set to grow by nearly 3 billion people by 2030, congestion threatens to choke trade and economic growth, economist Walter Kemmsies told the SMC3 2015 JumpStart conference last week.
Australian wine exports to China have almost recovered to levels recorded before Beijing’s austerity measures severely dented volumes, according to data released by the Australian Grape and Wine Authority.
Rising foreign trade that drove up throughput at China’s container ports in 2014 is expected to continue this year on the back of strengthening demand from the U.S. and Europe, and despite a slowdown in the mainland economy.
A free trade agreement (FTA) between Australia and Japan came into effect on Jan. 15, granting virtually all Australian exports preferential or duty free access to the giant Japanese market.
Total container throughput at China’s top 20 ports reached 175 million TEUs in 2014, an increase of 5.3 percent over the previous year as solid exports to the U.S. helped drive up the cargo numbers.
Asian countries dominated the 2015 Agility Emerging Markets Logistics Index released today with four nations ranked in the top 10 emerging markets – China, Indonesia, India and Malaysia.
The U.S. economic engine is powering cross-border sales and truck freight traffic with Canada, sending spot-market cross-border loads to record highs, TransCore Link Logistics says.