With 2016 properly packed away with the ribbons and glitter of the holidays, it’s time to face 2017, where new world leaders, political volatility and Mother Nature’s influence all promise to play influential roles. While the outlook for Emerging Market Economies (EME) going into 2017 is stable, uncertainty is on the increase with challenges stemming from the strong U.S. dollar and prospects for higher interest rates in advanced markets.
With new vehicle sales and production in North America still running at record levels, the region’s vehicle-handling ports are running out of room. Larger vessels, sometimes arriving in bunches, are putting more pressure on terminals and yard space. Land for expansion, meanwhile, is hotly contested because port authorities have competing claims on its use, whether with the much larger container trade, or with real estate developers keen to invest in waterfront property.
Recently, leaders from business and government, including Secretary of Commerce Penny Pritzker, Secretary of Transportation Anthony Foxx and Secretary of Labor Tom Perez gathered at an event hosted by the White House National Economic Council (NEC) to discuss the promise and opportunity that ports hold not only for keeping America’s goods on the move, but for keeping America's economy on the upswing.