The latest episode of “Talking Trade” features Government Analytics CEO John Pournoor on the overall impact of global trading and trade’s role in U.S. markets.
Pournoor, who’s also a member of the National Association of District Export Councils, argued global trade and production of goods and services “is the engine of what makes the economies of the world run.”
He said global GDP is about $100 trillion while US GDP is about $30 trillion of that, and the country’s exports make up about $2 trillion of that. He also said 97% of all exporters in the U.S. are small and medium sized enterprises, making them an invaluable part of the country’s economy.
“So this sort of gives you a scale of where we are in that spectrum of exports,” he said.
He also argued NADEC plays an essential role in engaging the community of exporters as well as connecting them with government resources such as U.S. export assistance centers and foreign embassies. NADEC also assists exporters with various regulatory compliance requirements and organizes informational seminars.
But one challenge exporters face right now is simplifying trade regimes during a time when trade policies are frequently shifting, he said.
“I foresee this kind of shift in trade policy to be with us for some time, simply because of the nature of how trade and investment is going to increase dramatically over the next few years,” he said. “We see other countries putting a premium for access to their markets manifesting itself in different ways. And the United States, increasingly, is doing the same.
As far as advice goes, Pournoor said exporters need to keep watching the changes, prepare and strategize.
“It’s important to realize, you know, what are some of the openings that are being offered for trade access to some elements of the market,” he said. “For instance, farmers being able to export in markets where protectionist policies on the other wise have not been allowing them to do that. Or manufacturers and other providers are able to actually enter into markets that were not necessarily accessible to them before.”
Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.
Watch the full episode here.
