U.S. container imports are projected to rise through the end of the year as retailers prepare for a possible East Coast and Gulf Coast port strike and anticipated tariff hikes under President-elect Donald Trump. According to the National Retail Federation’s latest Global Port Tracker report, uncertainty over labor negotiations
Firms of all sizes are being encouraged to export their goods and services. If you’re new to the global marketplace or your firm is expanding into new markets, then it’s time to establish best practices in your organization. (more…)
The global economy has had a tough time in the 2020s. In March, most countries were locked down because of COVID-19, messing up the supply chain for two years. When things were getting better, another problem came up with Russia invading Ukraine in February 2022. The European Union and
Hispanic Heritage Month honors Americans whose ancestors came from Spain, Mexico, the Caribbean, and Central and South America. The Export-Import Bank of the United States (EXIM) joins in celebrating the histories, cultures, and contributions of these Americans who help the nation grow and prosper. (more…)
Introduction International trade is crucial in influencing economies in a world of interconnectivity. India is a major player in the world of imports thanks to its broad market and expanding economy. This blog dives into the specifics of India’s import sector, the operation of the Import Export Business,
By Rebecca Yeager, Export Solutions Spoiler Alert – Similar but Different As a U.S. importer or exporter, we are required to comply with specific regulations. For defense articles, we are regulated by the International Traffic in Arms Regulations (ITAR), for dual-use and commercial items, we must comply with the
Understanding Excise Tax Excise tax is a type of indirect tax levied on the manufacture or sale of specific goods. In South Africa, excise tax is applicable to a wide range of products, including alcohol, tobacco, fuel, and certain other goods. For businesses dealing with these products, accurate and
For four consecutive months, U.S. container imports have surpassed 2.4 million twenty-foot equivalent units (TEU)—a threshold that has historically strained U.S. maritime logistics. In October 2024, U.S. container imports totaled 2,494,635 TEUs, a slight 1% decline from September’s 2,520,935 TEUs and just 2.4% lower than this year’s high of
It’s essential to stay on top of changing regulations to ensure you’re meeting your compliance obligations. This December, significant updates to the Lacey Act will broaden its scope, affecting a wider range of products, including many with plant-based, wood or paper materials. Originally enacted to combat illegal logging and
A trade surplus signifies a favorable trade balance, where a nation’s exports exceed its imports. This condition is determined by a simple computation: Trade Surplus = Total Value of Exports − Total Value of Imports When the result is positive, indicating that a nation exports more than it imports,
