IMPORT & EXPORT
By Deborah Belgum | May 26, 2016
The U.S. International Trade Commission recently published an independent study of the free-trade accord and found that U.S. apparel imports would inch up 1.4 percent with a $1.9 billion increase by the year 2032 while exports would barely budge, seeing a 0.3 percent rise, or a $10 million increase.
California’s attorney general has won a settlement from a clothing factory in India accused of stealing intellectual property from U.S. software companies.
China’s exports of textiles and apparel to the United States saw a 1.5 percent increase over last year, meaning that the nation of 1.35 billion people and nearly 20,000 apparel and textile factories sent $43 billion worth of goods to the United States for the 12 months ending Oct. 31.
The largest container ship ever to call in the United States will be arriving at three California ports to test the waters on how the facilities handle a megaship of this size.
The people and events that made the news in 2015.
After seven years of negotiations, trade representatives from 12 countries hammered out a final agreement this year on the Trans-Pacific Partnership, which could change free-trade as we know it between the United States and Asia.
The beginning of the year was a challenging time for shippers, who found their merchandise delayed for weeks at the Port of Los Angeles and the Port of Long Beach.
The total number of cargo containers coming into the nation’s major ports will increase approximately 5.5 percent this year compared with last year, according to the National Retail Federation.
With 40 percent of the nation’s cargo-container traffic arriving at Los Angeles–area ports, trade has become a very important economic engine for the area.
Import volumes at most of the nation’s ports are on the upswing as retailers bring the last of their goods in for the holiday season.
After years of negotiating a trade agreement between the United States and 11 other Pacific Rim countries, the U.S. government released the final text outlining the deal.
It seems like only yesterday that the ports of Los Angeles and Long Beach were clogged with container ships after contract negotiations with the workers of the International Longshore and Warehouse Union dragged on for nine months.
After eight years of negotiations that took place in various cities around the world, trade negotiators from 11 Pacific Rim countries and the United States finally have agreed to a trade accord that will affect 40 percent of the world’s economy.
Southern California’s two major ports in Los Angeles and Long Beach have seen a revival of activity this summer as shippers return to the West Coast after a major port congestion problem earlier this year.
Despite massive congestion problems plaguing the West Coast ports earlier this year, cargo-container volumes for imported goods are expected to rise 4.2 percent this year compared with last year.