Trade

90 articles

New Faces of Trade

The future runs through Southeast Asia, especially if women-owned businesses are given the chance to succeed.

There has never been a better time for small businesses to go global. The internet – with the ability to connect communities all around the world – has transformed the way people communicate, buy, sell, market and do business. Today, at the click of a button, small businesses anywhere can reach new customers without the capital […]

7 Key Challenges for the Future of ASEAN – and How to Solve Them

Home to a growing market of more than 600 million consumers, with 125,000 new internet users every day, ASEAN is brimming with opportunity.

The ASEAN region, made up of Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, boasted a combined GDP of roughly $2.77 trillion as of last year, with predictions for enviable GDP growth rates of around 5.3 percent per year through 2019. Here are seven challenges the bloc faces in promoting […]

Setting a Course for Viable Sustainability

Pitting economic concerns against environmental challenges is hardly a zero-sum game.

Some 90 percent of the world’s goods are transported by sea. Ships also account for about 3 percent of global greenhouse gas (GHG) emissions. Furthermore, this GHG figure could grow by a minimum of 50 percent and perhaps as much as 250 percent by 2050 if no action is taken to curb emission levels. Projected […]

Africa Matters: Why the U.S. Should Bolster its Trading Relationships with African Countries

Businesses can help grow African economies, create more job opportunities and export more products to the continent’s markets.

As Vice Chair of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), I am pleased to be co-leading the private sector contingent of a U.S. Department of Commerce delegation to Africa to learn about and discover new opportunities for U.S. businesses to partner, invest and grow across the continent. Led by the Secretary […]

Releasing the Full Potential of Global E-Commerce

Customs modernization will be key to facilitating trade growth.

Hosted by the United Nations Conference on Trade and Development (UNCTAD), this year’s E-Commerce Week brought together government representatives, CEOs, international organizations, academics and civil society. The objective: to highlight the potential benefits of e-commerce and discuss how we can overcome barriers to realizing them. During last week’s gathering, UPS joined panels to outline to […]

NAFTA Is Nearly 25 Years Old – Let’s Modernize It

We must focus on what’s at stake, drawing on the art of negotiation and enlightened self-interest to create a brighter future for us all.

The art of negotiation is so important – harmonizing different points of view, experience and needs is a challenging task. As the CEO of a global business, I know a thing or two about negotiation and compromise, as well as the resulting benefits. Negotiators from the U.S., Canada and Mexico have resumed talks to modernize […]

The State of Play: ASEAN Economic Integration

The future of ASEAN runs through regional and global trade. Here's why.

Earlier this month, I had the opportunity to share my thoughts on progress to date on the ASEAN Economic Community (AEC), along with distinguished panelists from various fields during the sixth ASEAN-EU Business Summit in Singapore. ASEAN is a critical part of the world for UPS, and we believe in the work of building a […]

Business Within the Automated Commercial Environment

The ACE platform creates advantages and challenges for companies of all sizes – let's review.

After U.S. Customs and Border Protection’s (CBP) new platform ACE (Automated Commercial Environment) becomes fully operational, it will process many important transactions taking place after entry release and entry summary. CBP intended for the new capabilities to be implemented in full by January of 2017. While some of these transactions have already been partially deployed, the […]

Globalization Got Stuck in the 20th Century

Global trade needs a major reboot. Here are four areas where we can start.

Despite the best efforts of the global policymakers, we are eight years removed from the global financial crisis and still haven’t enjoyed the broad-based rebound we need to create a world that is safe and more prosperous. Yes, the stimulus provided by the central banks helped stabilize the Western economies, but where’s the catalyst that […]

What History Teaches us about China’s ‘New Silk Road’

China's One Belt One Road initiative takes a page out of history – maritime history.

Few images are more enduring in the historical imagination than the train of two-humped Bactrian camels plodding across desert sands from west to east, or vice-versa, across the vast open spaces of Eurasia. Now that China is edging toward a modern incarnation of the “silk road” it is worth remembering how this emblem of the ancient world […]

Expand Free Trade by Enhancing Digital Trust

Blockchain and artificial intelligence can lead us to a new era of more equitable trade.

Free trade has been an enduring goal of the international community for more than a century. Despite broad technological progress, modern transaction systems remain heavily burdened by antiquated practices. This creates friction that slows global commerce and hinders service delivery of all kinds. Banks, for example, still issue letters of credit to importers, a practice […]

Opportunity in the New Economy

Now is not the time for incremental improvements to an old playbook. We need a transformational social contract.

The world is changing in profound ways. This change has brought with it growth, opportunity and job creation, as well as new risks for workers and communities. We are ill-equipped to manage many of these risks – these are the risks that have fueled economic anxiety and job insecurity. It’s the challenge of our time. We […]

How to Navigate a Changing Global Trade Landscape

Five tips to ensure your business is reaping the benefits of global trade.

First came Brexit. Then came the US’s departure from the Trans-Pacific Partnership (TPP). And recently, there have been talks on renegotiating the North American Free Trade Agreement (NAFTA). Countries that previously depended on trade with the US to conduct business are in fact looking elsewhere and diversifying their portfolios, according to Simon Evenett, director of […]

Asia: The New Center of Gravity

Here are five takeaways on what rising connectivity means for Asia.

As thought leader Parag Khanna reminds us, we’re living in an age of rising connectivity, which affects everything from highways to seaports to power lines and broadband cables. This is particularly relevant to Southeast Asian nations expected to account for a greater share of global economic growth. With a tip of the hat to Khanna, […]

Globalization Is Alive and Kicking

We are still moving toward – and not away from – a truly global economy.

It’s commonplace to emphasize that we are now in a new era of globalization, marked by the rise in the importance of emerging economies. But what does this really mean? Richard Baldwin, author of The Great Convergence, argues that what is new is the combination of northern technology and southern labor. But he adds that […]

Colombia’s Cinderella Story

How the Andean nation turned around its economy to become a regional leader.

During the past decade, Colombia has experienced an economic and cultural renaissance following years of instability and lackluster economic growth. Colombia now boasts Latin America’s third largest economy and has seen unprecedented levels of foreign trade. This turnaround has not gone unnoticed by the country’s neighbors, who see Colombia as a fierce competitor. However, it […]

The Staggering Numbers Behind the World’s Closest Trade Relationship

You might be surprised by how much the United States buys from Canada – and vice versa.

Whether we’re discussing the ancient merchants that traversed the legendary Silk Road or the transfer of goods across modern border lines, trade has always been about building close relationships. There are many examples of strong and mutually beneficial trade relationships all throughout history, but one doesn’t have to look far back to find what could […]

Business Rivals Agree on Policy

Simplify taxes, invest in transport infrastructure and expand international trade while keeping it fair.

At a time when the U.S. needs unity and bold reforms, American businesses must be partners in building the future. While the business community has diverse interests, every company should agree on basic policy priorities if we want to be globally competitive. That’s why we are speaking out together — two fierce competitors, UPS and […]

3 Ways to Modernize NAFTA

It's time to bring the North American Free Trade Agreement into the digital age.

Every day, 3 percent of global GDP  – and 6 percent of U.S. GDP –  moves through UPS’s international network. That means we see first-hand what works and what doesn’t when it comes to fueling cross-border commerce. As the U.S. administration looks at ways to modernize the North American Free Trade Agreement (NAFTA) in the […]

5 Reasons Not to Give Up On Global Trade

It's time to recognize the core value of international trade.

Many people feel the international trading system is unfair or unaccountable. Some blame it for the loss of jobs, others for pressurizing local industries or eroding labor standards. It is true that economic globalization has not lifted all boats. Income and wealth inequality are on the rise. Significantly, 42 percent of countries ranked on the World Economic […]

Decoding Harmonized Tariff Codes

In global trade, a label is more than just a label.

The word harmony itself is soothing. Think about it. Harmony evokes images of consistency, pleasure and order in chaos. If your company is shipping to other parts of the world, that order is not only appreciated but also critical. How does this apply to shippers? Through the use of harmonized tariff codes and the Harmonized Tariff Schedule (HTS). According […]

It’s Time to Turn to Asia for Growth

The Asian middle class is rapidly transforming. Is your company ready?

In past years, Asia’s cheap labor and production methods were global differentiators that powered economic growth. But another factor is propelling China’s new growth: a middle-class expansion in Asia’s emerging markets. The Organization for Economic Cooperation and Development projects that the Asian middle class will reach 3.3 billion by 2030. This may result in a middle-class […]

Canada is Open for Business

Assessing Canada’s changing trade landscape can help uncover new international business opportunities.

According to the World Bank’s Doing Business 2017 ranking, Canada is the second best place in the world for starting a business, and let’s face it – the reasons are quite clear. Beyond the federal government’s plan to advance trade, Canada is located next to one of the world’s largest economies and has access to […]

How Free Trade Agreements Affect You

Evaluating current trade agreements may uncover new international opportunities.

Perhaps you are familiar with free trade agreements (FTA) that pertain to your home country or your region of the world. Is it possible that other regional agreements, where your country is not a participant, have some sort of an impact on your business – positive or negative? Before addressing this question, what are the […]

How Exports Will Fuel Cities of the Future

If we treat export growth as our North Star, the possibilities are limitless.

UPS Chief Information and Engineering Officer Juan Perez spoke at the Southern California Logistics and Supply Chain Summit on April 20, which examined critical trends at the intersection of technology and international commerce. I’d bet that many of us in this room, given our day jobs, are true believers. True believers in trade, I mean. […]

Dubai: The City of the Future

At Expo 2020 Dubai, a pipeline for innovation, as well as economic and social development, takes center stage.

Imagine a world not restricted by borders. This world is connected virtually through information technology and physically through trade lanes and supply chains. In this world, free trade brings people and organizations closer together and allows them to work together to tackle global challenges. Click to hear about UPS’s exciting new role as the Official […]

Reimagining Financial Services with Blockchain

Organizations can unlock substantial economic value using blockchain technology.

Across every industry today, organizations are looking to streamline and automate processes to reduce costs, gain efficiencies, radically improve speed to market and achieve better business outcomes. The financial services industry in many ways is at the forefront of such initiatives – with particular focus on today’s disjointed and redundant processing and reconciliation challenges – […]

TFA’s Benefits Extend Well Beyond Cutting Red Tape

The Trade Facilitation Agreement will bolster governance in developing nations.

Late last month, the World Trade Organization celebrated the entry into force of the Trade Facilitation Agreement (TFA), a global effort to streamline government procedures governing international trade. The primary goal of the agreement is to improve the efficiency and effectiveness of agencies that oversee trade, especially in developing countries, by reducing bureaucratic red tape […]

How Blockchain Can Restore Trust In Trade

During a time when transparency matters more than ever, enter blockchain.

International trade is under pressure. Fears fueled by the global refugee situation and terrorist threats have led to tighter border controls – and these come at a cost. Every inspection of goods, every stop along the supply chain, eats up time and drives up prices. It harms businesses and consumers alike. Those involved in international […]

3 Ways a New Customs Agreement Makes it Easier to Meet Global Demand

The new TFA is changing the way goods cross borders and move around the world.

The newly minted Trade Facilitation Agreement (TFA) is a game-changer for the way goods cross borders and move around the world. At UPS, the seamless movement of packages is our lifeblood — so we are excited by this World Trade Organization (WTO) agreement, which ushers in a new global framework of rules that make trade […]