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Showing posts from February, 2022

The Benefits of Utilizing Trade Data About Imports & Exports

As international tensions rise and tariff activity increases, trade analysis will be a crucial part of strategic decision-making. Analyzing Import export data can give you key insights into domestic markets and international markets. This will allow you to make better business decisions. Trade data can provide insight into the supply chain dynamics, domestic demand, and recent shifts of raw material movement among countries. Consumption apparent When there is no production estimate, import export data analysis can help to estimate the local demand for certain goods and services. This is known as apparent consumption. This takes into account both the country's exports and production. According to the UN Food and Agriculture Organization (UNFAO), Canada produced 8.7 Million Tons of barley in 2016. Canada also exported 1.2 million metric tons and imported less than 0.1 million metric tons. Canada's barley consumption is estimated to be appro...

Business is a big part of customs duties

  Many consulting firms in America warn clients about the risks associated with international trade transactions.   T hese firms also provide advice on how to minimize the risks of international trade transactions. These are crucial considerations clients must not overlook.   Clients often forget to consider customs duties.   Customs duties and tariffs could affect your revenue.   You can use several trade data driven softwares to obtain data about US Customs data .   Benefits of Hiring: They can make it more difficult to import and export.   Although you might not be subject to any duties, it is possible for you to get a lower tariff. It is always a good idea to seek expert advice.   Freight forwarders and clearing agents are often used by clients to inform them of the applicable customs duties.   Most people are not skilled at making customs decisions.   This could have severe financial consequences.   Incorrectly determining cust...

The New Approach to reducing Trade Deficit Between The USA And China

After three years of trade disputes and interruptions due to the pandemic in 2003, the US is trying to reverse decades worth of American industrial lines that were shifting to China. After three years of trade disputes and interruptions due to the pandemic in 2003, the US is trying to reverse decades worth of American industrial lines that were shifting to China. This will result in a loss of manufacturing employment and industrial capability. The US government is determined to revive American manufacturing, especially of key items, as well as reduce its dependence on a more hostile strategic partner. American companies are evaluating their sourcing risk in light of China's President Xi Jinping's potential ban on US exports. One policy option that could help achieve both of these goals is the cap-and trade system. This would allow China and the US to trade certain rights for the right to import a certain dollar amount from China. A New Ap...