Happy World Trade Week from MITA!
World Trade Week is the third full week of May and is part of the broader World Trade Month of May. The tradition of World Trade Week was started in 1927 by the Los Angeles Chamber of Commerce to promote the positive effects of international trade during a very isolationist era. This annual tradition continued to garner support and spread until 1935 when President Franklin Delano Roosevelt proclaimed World Trade Week a national observance following his passage of the Reciprocal Trade Agreements Act in 1934. Since then, this tradition has expanded to the entire month of May.
World Trade Week provides an annual opportunity to remind consumers, businesses, and policy makers of the importance of international trade to our economy. U.S. consumers engage in international trade every day with their purchases of imported merchandise. From textiles to electronics, U.S. companies regularly rely on foreign suppliers at some point in their supply chain. Just this month the U.S. Census Bureau reported exports from the U.S. at $256.2 billion and imports into the U.S. at $320.4 billion.[1]
Annual festivities during World Trade Week and Month regularly include opportunities for education and discussion on international trade topics, including supply chain and logistics strategies; updates on the regulatory landscape and changing policies; and compliance best practices. You can find a list of events taking place throughout the month here.
As an international trade association, we want to take this time to recognize all our members during World Trade Week. By continuing to navigate the complex landscape of regulations, practices, and trends MITA remains focused on sharing knowledge and best practices amongst our membership and the international trade community.
If you know of others that share your passion for international trade and would benefit from a MITA membership, please have them contact us at communications@mitatrade.org.
[1] CB 23-66, BEA 23-18, U.S. Census Bureau and U.S. Bureau of Economic Analysis, May 4, 2023.
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MITA is a Madison, Wisconsin-based organization with the simple goal to connect and provide global know-how and resources to its members. MITA provides international trade information to the organizations and individuals looking to expand their international reach. From trade agreements to export documentation to economic trends and prevailing world issues, MITA keeps its members “in the know.”
Helping Companies Succeed in Today’s Global Economy
The Madison International Trade Association (MITA) provides critical resources to EMPOWER Wisconsin manufacturers, organizations and individuals to succeed globally. Our mission is to foster a better understanding of the issues, practices, information, legislation and trends that affect and influence all aspects of global trade.
