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What international trade looks like under President-Elect Trump

  • Posted On: November 15, 2016
  • Category: General Marketing Info
  • Posted By: admin

International Trade

Last Updated on

From the desk of Hema Dey….

So it has been 6 days since Donald Trump got elected as the 45th USA President. International trade agreements have been a real issue during his campaign from TPP, NAFTA to deals made with China. Some of us are left hanging without understanding what to do or how to go about doing international trade. The truth is clarification on all uncertainties will not be revealed for a while. One thing we do know is that the TPP agreement has been put aside by the Obama Administration which has caused deflated motivation from TPP advocates from all around the world. We await now decisions from the Trump administration for further news, but until such time, it is business as usual. NAFTA was also brutally attacked as one of the worse trade agreements championed by President Bill Clinton. Some of us are shaking our heads thinking, whats going to happen to the supply chain all round!

Prime Minister of Canada, Justin Trudeau and President of Mexico Enrique Peña Nieto have both reached out to President-elect Trump with an olive branch to modernize NAFTA. Being 6 days, there has been no decision made around this but our team at Iffel are vigorously keeping in touch with updates from all sources so you can be better informed. In the meantime don’t be de-motivated as nothing has changed and nothing can be change overnight. I say stay focus on your sales strategies both domestically and internationally.

My recommendations short term:

  1. If you don’t have your 2017 strategic plan in place, do it now. Look at options for growth both domestically, interstate and internationally. If you are professional service provider, don’t ignore the powers of online marketing to grow your business.
  2. If you are manufacturing here in the USA or elsewhere, keep thinking about how to increase production through increased sales. This is key. If you are not selling enough domestically, ask yourself why! If it is because you cannot find buyers in other states, could it be that you have limited yourself in your domestic sales strategy? Have you considered exporting using eCommerce? Yes you may compete with your existing customers but hey, everyone else is doing it and if you did it the SMART way, you might just have a two prong product branding strategy ready to go.
  3. From a marketing perspective, how does your website look like? Is it compliant with Google, does the brand and communication come across accurately? Have you asked what your customers think about your products or services? Do you know what your keywords are and what your competitors are doing out there?
  4. Donald Trump in last nights 60 minute interview on CBS confirmed that his media strategy that won him votes was social media.That is a WOW factor! Therefore if you have been a skeptic on social media, perhaps you need to re-think this as a very powerful way to reach your market of choice!
  5. Move fast, don’t dither on your marketing campaigns because of an election cycle. There are many ways to be creative within restrictions that are made. At the end of the day people love USA made products, so why don’t we just sell it – it will keep jobs in the USA anyway!
  6. If you are a foreign nation wanting to export products to the USA, this is a great time. The country is doing well, it has the lowest rate of unemployment seen in the last 8 years. The people are open to various products here and if you want to target the USA population, you have to do it the American way – and we know how.

The elections are now over, lots will be unfolding because this is an unprecedented election, offering many uncertainties and already “U turns” on policies are being made during Trump’s campaign. At the end of the day, if trade is benefiting a USA company, why would they change it. If it is working, I have a strong feeling Trump will not be foolish to cut ties with countries that have been long allies of the USA. Pull yourself up and lets get domestic and international trade talks open – starting now. Talk to me about your business. Remember exporting to all states in USA, requires a plan for each state.

 

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