Trade Center exec says Utah poised for export business

World Trade Center Utah Chief Executive Derek Miller says he’s optimistic about the future of trade, specifically exporting, in Utah. “We export between 12 and 13 billion dollars each year,” Miller said in an interview about the importance of international trade in the economy.
Primary metals, steel, iron ore, copper, and coal all make up the largest group of exports in the state. There are spinoffs from those primaries, and Miller mentioned Love-Less Ash as one of them. “As you would imagine they got their start in supporting the coal industry,” he said. The firm specializes in wet and dry vacuums and industrial sized vacuums. The vacuums were used at coal sites but diversification allowed the company to expand its customer base.
Diversification also played a key role in allowing Utah to fare better then most states during the Great Recession because it was “not at the whims of the boom and bust cycle.” During meetings with local business and civic leaders, he emphasized having local businesses expand their customer base. According to the end of the year report for the World Trade Center 2016, metals make up 41.30 percent of exports. Other sectors of the economy that are included in exporting include Information Technologies (both hardware and software), chemicals, agriculture equipment and transportation equipment.
The topic of trade is an important one for the Beehive state, as there was a lot of emphasis placed on the issue during the 2016 presidential race. Both candidates voiced their opposition toward the Trans-Pacific Partnership (TPP), and President Donald Trump even voiced his opposition to NAFTA. “I certainly support the President’s desire to update NAFTA,” Miller said, hoping that President Trump does not move toward a protectionist policy but rather a revision of the 23 year old trade deal. “There’s no doubt that Utah businesses have benefited by the rules of the game that were established by NAFTA,” Miller continued.
On the issue of the climate surrounding businesses, Miller said, “The current debate revolves around punishing U.S. companies that send jobs overseas, or bribing companies to keep their jobs in the United States.” Miller noted that is the wrong way the question should be asked, and said that we should be asking what can we do to create a business-friendly environment.
President Trump’s keeping the United States out of the TPP provides a mixed result for Utah companies. Miller said he hopes that the reason for President Trump keeping the United States out was to benefit the American workers and businesses. On the one hand, the president could benefit the businesses in the country by making a better deal but on the other hand, Miller said that the TPP would have provided Utah businesses with an opportunity to expand their customer base in Vietnam and Malaysia and other developing countries. Miller said that everything would remain the same because the United States never actually signed into the agreement.
“Utah provides a great example,” Miller added, saying that the state could provide a framework for the federal government in Washington to set the right atmosphere for businesses to succeed in the United States.