The World Trade Centers Association predicts that trade uncertainty will worsen
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“When things are uncertain, it’s time to get even more proactive,” says Brigitta Miranda-Freer, the executive director of the WTCA in Montana, a state hit by China agriculture tariffs. Combines harvest soybeans in Brazil. The country became the world's largest soy exporter, surpassing the U.S., as China shunned U.S. beans last crop year in the trade war.In heavily disruptive economies, now exacerbated by tariffs, the more economically diverse, the better a state can deal with shifting business trends.
Cities often compete for foreign investment, often from the same source. Most WTCA members said they are focused on attracting greenfield investment or follow-on investment, which can strengthen local economies with brand new businesses and make existing ones more deeply rooted in the event of unsuspected headwinds.
Most companies have already absorbed or passed on the initial costs of tariffs. Some got their China partners to lower prices. But escalating tensions are shifting business sentiment and putting investment plans on hold. The reality could be worse going forward because trade out of China, as well as some corporate investments, are being front-loaded as people try to get ahead of Trump’s threat to tariff all of China’s exports to the U.S.
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