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12/29/2016 04:44 PM
GLENDALE, Calif., Nov. 16, 2016 /PRNewswire/ -- Donald Trump's election to the White House has created uncertainty in the export and import industry. President-elect Trump's ambitiously arrogant statements on free trade may result in tumultuous concerns from global trade partners. Trump has bluntly stated that he is opposed to the Trans-Pacific Partnership (TPP) and the North American Free Trade Agreement (NAFTA).
Trump's protectionist position and restraint on foreign trade with US' current trading partners would result in weaker investments as well as a drastic slowdown in export import transactions globally. An evident consequence from weakened investment and export is a shrinking global market for US companies who are exporting their goods.
Export Portal believes that President-elect Trump's plans of withdrawing from its current free trade agreements with Mexico, China, and other countries is detrimental to international trade. Increasing the tariff on Chinese imports to 45%, while renegotiating NAFTA, as well as imposing a 35% tax on American companies who export jobs to other countries would only increase the price of goods sold in the United States.
According to Stockton University professor of finance Michael Busler, there is no guarantee that manufacturing companies would move back to the US. Busler states that, "all it will mean is US consumers have to pay 35% more for the products that are made outside the country."
While Export Portal aims to provide simpler and safer international transactions to their members, they are also contributing their part by advocating for free trade agreements that is fair and beneficial to all parties involved.
Export Portal is able to participate in this type of dialogue because they are part EXIMA, an international network for exporters and importers. Through EXIMA, members are not only provided new opportunities. Members get constant updates and information on trade regulations – locally, nationally, and globally.
Uncertainty still looms over President-elect Trump's free trade policies but, as an international trading platform, Export Portal aims to cultivate a harmonious trading relationship between countries and businesses. Whether a business is new or well-established, Export Portal and EXIMA will help businesses expand, find new opportunities, and boost their profits through free trade.
Read the article on original source: presswire.com
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