TABLE OF CONTENTS What do we see for the future in the world of importing and exporting? Our view includes freer trade, an increased focus on cargo security, and more automation than ever before. Those are the three areas that will shape the future of a global supply chain. This closing chapter will briefly discuss how each of these trends is expected to transform importing.
The U.S. has stretched far out to its neighbors abroad to conduct business. You have learned how the U.S. government presides over international trade activities, the hidden pros and cons to global procurement, exposure to additional costs embedded in the cracks, best practices for reducing costs and improving delivery turnaround for the industry, and where technology can lead you. Learning what is in store for quicker, freer, and more secure trade continues to be a challenge. The future for global transactions will offer the potential for completely paperless trade transactions, fully secured with global standards throughout entire route of each shipment.
The average duty during the early 1900s stood at 58.2 percent. Today, the U.S. is one of the world's lowest tariff nations. As you learned in Chapter 8, bilateral and regional trade agreements have catalyzed the U.S. trend toward lower tariffs and freer trade, a trend that continues today. As a result, the future of global procurement will continue to grow, expand, and evolve. The trend towards lower tariffs is not isolated to the U.S.
While the progress of the World...
