Afternoon Coffee: Import and Export Prices Drop in October, Companies Not Taking Advantage of Foreign Trade Agreements

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U.S. import and export prices fell in October, the Bureau of Labor Statistics reported today. Import prices dropped 0.5%, marking the fourth consecutive month of declines. Export prices fell 0.2% as well.

A new survey by Thomson Reuters and KPMG showed 70% of companies that import and export goods do not take advantage of foreign trade agreements, mainly due to to complications associated with managing and adhering to regulatory requirements.

Increasing e-commerce sales is creating more warehousing and storage jobs. During October, warehousing companies created 5,100 jobs,. A total of 18,200 warehousing jobs have been added since June.

There is a growing trend for e-commerce businesses to open physical, brick and mortar stores, giving customers the ability to interact with products and the brand in person. One retail expert told USA Today, opening physical stores is a great marketing effort for companies and can be a way to differentiate themselves from competitors.

 

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