World Trade Center-Kansas City News: April 2024

Apr 12, 2024

Category:

A LETTER FROM THE DIRECTOR

This April, WTC-KC is proud to announce the Spring 2024 Heartland Export Accelerator cohort:

The cohort will graduate in May with fully vetted export plans as part of the program. You can learn more about the Heartland Export Accelerator here. Please contact us for any trade needs.

Events

Ins and Outs of Exporting- Part 3
Export Compliance Solutions, International Trade Council of Greater KC
April 25
Register here

World Quest 2024
UMKC, IRS
May 1
Register here

Trade Winds Europe/Eurasia
ITA/U.S. Commercial Service
May 13-15
Register here

Agribusiness Sales Program to South Africa
ITA/U.S. Commercial Service
May 13-17
Learn more

World Trade Day: Successful Sustainable Strategies
International Steering Committee
May 15
Register here

2024 U.S.-China Agriculture Roundtable
US Heartland China Association
June 2024
Save the date

ILA Berlin Pioneering Airspace 2024
U.S Commercial Service & International Trade Administration
June 5-9, 2024
Learn more

EXIM 2024 Annual Conference
EXIM Bank
June 6-7
Register here

Certified Global Business Professional (CGBP) training
MU International Trade Center
August 6-9
Register here

Dispatches from DC

Photo of Francis Scott Key Bridge in Baltimore before collapse.

The tragic collapse of the Baltimore Bridge has sent shockwaves through trade and supply chains, with significant implications for the economy. Immediate legal issues include rerouting cargo to alternative ports, addressing cargo damage and associated charges, managing structural concerns, and assessing environmental impacts. The closure of the Port of Baltimore, which handled over $80 billion worth of cargo in 2023, will lead to massive economic repercussions (Husch Blackwell). CNN reports that the disruption will necessitate rerouting hundreds of vessels, impacting maritime lanes and causing potential congestion at alternative ports. Major East Coast ports like Philadelphia, Norfolk, and New York/New Jersey are expected to absorb redirected cargo, albeit with potential shipping cost increases and congestion. With approximately 3,200 factories, warehouses, and distribution centers within a 30-mile radius of the port, the closure will disrupt shipments of thousands of parts and finished products. However, ports like Norfolk can handle redirected vessels, and efforts are underway to smooth potential bottlenecks in trade flows. Nevertheless, normal port operations in Baltimore are unlikely to resume soon, impacting automakers like Mazda, Mercedes-Benz, and Subaru, as well as the broader roll-on, roll-off cargo sector. As investigations continue, stakeholders are bracing for short-term disruptions and long-term trade and supply chain dynamics adjustments.