Trade Deficit Grows as Exports Decline

The nation’s international trade deficit in goods and services increased to $50.1 billion in July from $45.7 billion in June (revised), as exports decreased and imports increased.

July 2018: 50.1° $ billion
June 2018 (r): 45.7° $ billion

Attorney: Businesses should prepare for trade war impacts

Businesses, whether currently impacted by the status of the nation’s trade war or not, should be keeping an eye on the evolving tariffs situation between the U.S. and other countries.

Tariffs could impact FTZ business benefits

Local and national trade experts say that Foreign Trade Zones can be a tool for local companies to utilize in global business, but whether it can aid in the national tariff situation is a more complex issue.

U.S. International Trade in Goods and Services

The nation’s international trade deficit in goods and services increased to $46.3 billion in June from $43.2 billion in May (revised), as exports decreased and imports increased.

More port projects on the way to support future growth

N.C. Ports’ container business has grown 61 percent, year over year to date, according to Paul Cozza, executive director of N.C. Ports.

To keep up with that growth, Cozza said port officials are looking into additional projects, including deepening the Cape Fear River and upgrading its container yard. The projects were part of the updates Cozza shared at a luncheon Friday hosted by the N.C. Foreign Trade Promotion Council.

Local leaders describe economic development efforts

Local leaders in business and economic development said connectivity between multiple organizations is a key asset to the region’s continued growth.

4 things to know about ILM’s trade zone

As of September, 150 acres of land at the Wilmington International Airport is part of an expanded foreign trade zone, adding to the Port of Wilmington. The region will also benefit from this expansion, as magnet sites, like the airport, have the ability to expedite...

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Wilmington – Trading With The World

Wilmington has positioned itself to play a critical role in increasing the region’s global trade with the rest of the world. That was the sentiment at a recent foreign trade conference in the Port City on Oct. 12 organized by the Foreign Trade Promotion Council...

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Welcome to a Newer, Bigger, Better Trade Zone

Foreign trade between North Carolina and the world is expected to increase, with the recent expansion of Foreign Trade Zone 214, and all that FTZ 214 promises across the 22 counties it includes in the southeastern part of the state. That was the big topic of...

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Foreign Trade Zone: Signed, Sealed, Delivered

An expanded Foreign Trade Zone #214 is now an approved reality for eastern North Carolina. The U.S. Foreign Trade Zone Board has signed off on the application to expand the FTZ and change the zone from a traditional model to the newer, more flexible Alternative Site...

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UPS Opens Up Export Competition To Area Businesses

BY JENNY CALLISON UPS has launched a competition that could provide export assistance to area businesses interested in expanding to global markets. The $10,000 X-Port Challenge was announced this week by Wilmington’s Foreign Trade Promotion Council (FTPC), which is...

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$10,000 X-PORT CHALLENGE – Join Today !!!

The Foreign Trade Promotion Council (FTPC) www.ncftpc.org is pleased to announce that one of our member companies, UPS, has launched a contest that will allow potential new exporters to get $10,000 in free export services from UPS. They will also get the chance to...

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