It’s on. Super Bowl Sunday approaches amidst a swirl of controversies over bad calls and “unfair competition” on the football field. We take no opinion on that here at TradeVistas. Instead, we bring you a trade showdown between the exporting profile of the metropolitan area where each team is located. Share the graphic and enjoy your guacamole that was probably made from Mexican avocados.
DHL created a barometer to predict where storms lie ahead for global trade.
First launched in 2016, the Hinrich Foundation Sustainable Trade Index ranks each economy’s ability to participate in global trade in a way that creates sustainable growth, encourages foreign direct investment, and attracts support from multilateral development agencies. Built by the Economist Intelligence Unit, the index measures the readiness of 19 economies in Asia and the United States to trade sustainably.
In 2016, the United States ran a trade deficit of $500.6 billion. If President Trump wanted to reduce the U.S. deficit with Mexico or China, all he has to do is change the way we count it.
If you were to take a guess as to which American metropolitan areas export the most, you’d probably be right: New York, Los Angeles, Houston, Chicago, Dallas, and Seattle top the list. But, if ranked by exports as a share of local GDP, it’s America’s smaller cities that top the list – four of the most export dependent are smaller cities in Indiana.
To see how countries stack up in terms of the number of agreements they’ve negotiated, check out the WTO’s database of trade agreements.
Americans like to play to win. When it comes to international trade, however, we shouldn’t use the size and trend of the national trade deficit as a way of scoring trade policy. It’s like using the size of players’ salaries to evaluate whether you had a winning season.
According to a new study, reducing tariffs on LED light bulbs by 3.6 percent would save American households $320 million each year. How? Lowering the tariff on imported LED bulbs makes it cheaper to buy them. Lower prices also raises demand, leading to greater usage. Using more energy efficient light bulbs could cut electric bills by $129.6 million and lower the number of kilowatt hours in the United States by 238 million every year.
North America receives a B+ on the new George W. Bush Institute Scorecard, outperforming other trade groups such as the EU, which gets a B, and Mercosur, which only achieved a D-.
The Observatory of Economic Complexity offers a tool that is as beautiful as it is educational (not mention fun to use), enabling users to “quickly compose a visual narrative about countries and the products they exchange.”