June Newsletter

Pictured: WTC Utah President and CEO Miles Hansen being interviewed by KUTV at the 2019 Governor’s Utah Economic Summit on May 17, 2019. 

If you’ve followed World Trade Center Utah during World Trade Month in May, you’re aware of the many opportunities World Trade Center Utah has had to share in the press the important role international trade plays statewide. Catch up on any stories you may have missed in the following press roundup.

On May 11, WTC Utah hosted the Utah-China Trade and Investment Forum in conjunction with the 150th anniversary of the completion of the transcontinental railroad. More than 250 forum attendees, including nearly 100 Chinese business and government leaders, came together to discuss ways to strengthen the people-to-people ties that come with trade and investment.  The Forum succeeded in connecting Utah businesses with Chinese business and government leaders, creating relationships that help Utah companies watchover and advance their interests there.

The Forum occurred against the backdrop of increased tension in the ongoing efforts by the United States to address long-standing concerns with Chinese trade practices and to develop a stronger framework for freer and fairer trade and investment relations between the United States and China.  As federal leaders engage on trade policy, Utah businesses and consumers are experiencing increased uncertainty and costs, underscoring the need for both sides to resume discussions to reach an agreement.

The following week, the Utah Global Forum was combined with the Utah Economic Summit for the first time ever. The Summit, which highlighted international outreach and trends important to Utahns, brought over 1,000 attendees together for a series of keynote speeches and breakout sessions featuring premier appearances, including Dr. Jesús Seade, Undersecretary for North America for the Mexican Ministry of Foreign Affairs and Consul General Stéphane Lessard of Canada.  Dr. Seade–the top trade negotiator for Mexico–played a major role in the termination of U.S. tariffs on steel and aluminum while attending the Summit.  Mexico and Canada are our most important trading partners, and as such, it is imperative that Congress ratify USMCA.  The Administration’s policy to impose new tariffs on all Mexican goods entering the United States will undercut momentum to ratify USMCA while imposing a 5 percent tax on the $3.6 billion Utah imports from Mexico, equating to $180 million in increased costs.

Throughout #worldtrademonth, Utah companies shared their international successes made possible with the help of WTC Utah. Watch the videos below to hear from three Utah companies who are going global.

2019-06-06T15:40:21+00:00