The pandemic has impacted all parts of the world and every sector of industry. The World Center Miami continues to monitor the current situation and report back to you on recent projections as well as inform you on the movement of trade.
This month we suffered the losses of two pioneers who helped make Miami and Florida the international business centers they are today.
With the US-Mexico-Canada agreement taking effect this month, the newly formed Florida/Mexico Working Group is looking at ways to expand maritime trade between the two economies. The group, which formed as a result of a letter of intent signed in November by the Florida Ports Council and Mexican Coordinadora de Puertos, consists of six members from Florida and six from Mexico.
On July 1st, the USMCA, a trade agreement that modernized the North American Free Trade Agreement (NAFTA), came into effect.
The pandemic unleashed a staggering one-two punch on the economy – double-digit unemployment and drastically reduced revenues for many businesses. As states reopen with varying restrictions, what the future holds in the next six to 12 months is anybody’s guess.
The worst-case scenario for global trade in the wake of the COVID-19 pandemic has been avoided, according to economists from the World Trade Organization (WTO).
- World trade fell steeply in the first half of 2020 as the COVID-19 pandemic hit.
- Government and central bank intervention helped stem the losses.
- World Trade Organization economists now say we have avoided the worst-case scenario.
- Risks to the outlook include a second wave of COVID‑19 or trade restrictions.
After the volume of merchandise trade shrank by 3% year-on-year in the first quarter, estimates for the second quarter - when lockdown measures affected the largest share of the global population - show a drop of 18.5%.
Logistics companies have played a unique role throughout the COVID-19 pandemic and will be a key part of the economic recovery.
LONDON (Reuters) - Britain is urging businesses and individuals to prepare for the Dec. 31 end of the Brexit transition period with an information campaign titled: “The UK’s new start: let’s get going.”
Holland & Knight has tapped former Under Secretary of Commerce Frank Sánchez to co-chair the firm’s International Trade Practice.