Principles of International Trade

This book, Principles of International Trade: Import-Export, is intended for students studying international trade and for business people who want to engage in international trade. This book covers the basic concepts and procedures that are required for starting and completing international transactions.

All businesses, regardless of whether they do only domestic business or not, are affected by international trade and business. Consumers encounter imported products at most retail stores, and domestic businesses are exposed to stiff foreign competition. As a consumer or as a businessperson, all of us need to understand international trade for our own benefits.

The draft version of this book, annually or biannually revised, had been used as a textbook at California State University, Los Angeles, California (Cal State, Los Angeles), and Pacific States University, Los Angeles, California (PSU), for over ten years before this book was first published in 1993 with the help and encouragement of my family, friends, students, and colleagues at both campuses.

This book consists of thirty-seven chapters, a bibliography, websites, indexes, and endnotes. The text is divided into two parts. The first part, chapters 1 through 27, covers matters for importing goods from overseas and common topics related to both importing and exporting. The second part, chapters 28 through 37, is devoted to topics for exporting overseas. This new edition includes the latest Uniform Customs and Practice for Documentary Credits No. 600 (2007 Revision) and Incoterms 2010 published by the International Chamber of Commerce (ICC).

Instructors teaching materials for international trade (import-export), such as PowerPoint slides and key points for examinations, are available at the authors website: http://www.internationaltraderesearch.com.

The material and information in this text have been brought current as of June 1, 2017. Any errors or omissions exclusively belong to me. I would appreciate any comments, suggestions, or recommendations directed to me at my email address: drccrhee@gmail.com or fax 626-795-5196. Your comments, suggestions, or recommendations will be used in improving this book at the next publication.