US Import Data – How low-wage countries affect US Imports & Exports

Whether you’re looking to understand how low-wage countries are affecting U.S. imports, or you’re looking for information about the costs of shipping goods into the U.S., there’s a lot of data to be gleaned from the various sources of data. Trademo Intel offers access to US ocean import data, so you can analyze millions in shipment transactions in just minutes. Should you have almost any queries about in which and also tips on how to employ customs records, you’ll be able to call us on our own page.

US Import Data – How low-wage countries affect US Imports & Exports 2

Information on U.S. imported goods

A wealth of information can be found about U.S. trade and imports from many sources. The Journal of Commerce’s Port Import Export Reporting Service (PIERS) reports detailed data on waterborne cargo, including containerized goods by tonnage and TEU. The PIERS data are different from administrative trade statistics in that they include data on transshipment activity, shipments not included under official U.S. international trade statistics.

The United States doesn’t require any information on imports or exports below an acceptable threshold. However, other countries might require such information. Different countries may use different methods of identifying the country from which the shipment originated. Mexican Customs required only one country to report the origin of the shipment and assigned the total value of the shipment to that country. However, U.S. exports to Mexico and China only made up a small proportion of total U.S. imported.

Information about low-wage country import penetration

An increasing number of studies are being done to examine the effects of low wage competition on domestic activity, in particular in manufacturing. Using data for 230 Italian manufacturing sectors from 1995 to 2007, the authors find that low-wage country import penetration is negatively related to employment and other measures of activity. These effects are more pronounced in R&D, capital and skilled-intensive sectors. In addition, the authors find that low-wage country import penetration is positively related to employment in upstream and downstream industries.

Information on shipping to the U.S.

The cost of shipping goods to the U.S. is a huge consideration for firms that import and purchase exported goods from abroad. According to the World Bank the cost of shipping goods can be as high as one-fifth as the total cost. Multiple costs are involved in shipping goods. These include container fees, packaging material, terminal handling and broker fees. These are some of the factors that will help you understand the cost of shipping goods to the U.S.

Exporting goods from overseas requires that you keep in mind that there are no tariffs or duty charges at the border. The rate of duty and tax for imports differs by country, so it is important to check the Harmonized Tariff Schedule for rates for your goods’ destination country. An annotated loose-leaf copy of the Harmonized Tariff Schedule can be obtained from the U.S. Government Publishing Office. You can also check out the International Trade Commission’s website to compare rates.

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