Pacific NW Trade eNews

Vol. 2, Issue 2

Trade War Impact on WA and

Local Trade Resources & Opportunities

Adam Smith famously said, “Every man lives by exchanging.” This goes for nations and states . . . and especially ours.

The WTC Tacoma, WTC Seattle, and the Heritage Foundation called attention to the importance of trade in July with a roundtable at the WTC Seattle, “Free Trade and Washington State.”

The Heritage Foundation’s trade economist, Tori Whiting, gave a thorough overview on the negative economic impact of tariffs on Washington State .

WTC Tacoma Senior Trade Consultant, Mike Fowler, highlighted the dramatic impact on supply chains and trading patterns , including:

movement toward the decoupling of the US and Chinese economies,
China imports drop, a striking rise in the imports from Mexico and Vietnam, and
s trategic considerations that are likely being factored into trade policy.

At the time of publication of this letter, talks between the US and China have been set for October in DC . There is a better prospect than the last round for a breakthrough given that both economies are feeling the pain, but the outcome is difficult to predict. Follow our Facebook page for important updates.

In the previous issue we highlighted opportunities in markets where there is a rapid growth of the middle class, including China, India, Nigeria, etc. As illustrated, the population of the middle class in these markets will equal several times the entire population of the US within five years.

These markets are not only export destinations, but sources of components and incoming foreign direct investment . The Breaking International Barriers event at Business Transition Advisors on Mercer Island on September 24th will be focused on this topic. Fowler will represent the WTC Tacoma as a panelist giving an overview of some of Tacoma's FDI successes realized with the help of proactive measures. One of the most recent being investment opportunity zones that allow investors to realize substantial reductions in capital gains taxes.

When looking to expand into overseas markets, a first step should be to understand what free and low-cost local resources are available . Join us on Thursday, Sept 12 at 3pm for our joint Export Mini-Series with the US Commercial Service Seattle to learn about assistance available through the US Small Business Administration and Washington State Export Finance Assistance Center .

Also, bookmark this link highlighting the broad range of business assistance available in the City of Tacoma .

Finally, please note that we will hold a reception for a business delegation, including trading companies, from our Sister City of Fuzhou, China from 7:00PM-9:00PM on September 20th. Please visit our events page for more information.

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