Key Takeaways from AAEI Trade Day

The American Association of Exporters & Importers (AAEI) recently had their annual conference event which was attended by the American World Trade Chamber of Commerce (AWTCC). The event focused on trainings, forecasts, and technology showcases relevant for exporters and importers. This year also marked the first Trade Day event on Capital Hill. Sessions were focused on current trade situation and regulations being faced by importers and exporters alike. Here we discuss the key takeaways from the AAEI Trade Day and conference.

Trade Day Event

AAEI organized their first national trade day with meetings on capital hill. AWTCC was happy to participate in this historic event and speak on the issues and challenges facing AWTCC members. AWTCC is honored to have been a participant with the first AAEI trade day mission.

What will we know – when will we know it

A common topic was around the speed of change regarding U.S. trade relations. Keeping pace with these has become more important for US exporters.

One of the most important takeaways from the event was the predicting exact nature and timing of tariff changes is not feasible. Teams of experts on the topic repeatedly made clear that definitive numbers and effective dates for enforcement cannot be predicted with much certainty. Furthermore, there was clear suggestion to avoid entities making strong predictive claims.

Instead, exporters were encouraged to stay vigilant on changes. Being in situations that can mitigate risk are also advisable, such as having a range of destinations for goods and a diverse buyer portfolio.

Emerging Technology for Exporters

Day two of the conference focused on emerging tools and resources for exporters. Particularly AI fueled tools to handle classification, origin calculation, document preparation, and party screening tools.

AWTCC will work with these businesses in identifying their potential usefulness and seeking to establish discounts for chamber members.

One such organization, BITE Compliance, has negotiated a discount for AWTCC members, and members of affiliated chambers of commerce. The screening tool helps ensure compliance with restricted party screening.

Policy Changes on the Horizon

Major topics were also discussed, where guests were able to clarify their impressions. The two big items appear to be a consensus that there is an effort to eliminate de minimis regarding goods for import into the United States. Another common topic was around USTR’s upcoming 301 enforcement around Chinese flagged vessels.

Attention of the C-Suite

A common topic was the mix of challenges with potential benefit of having focus on the export team by a business. Common stories of CEOs reaching out directly to staff to understand situations and what their business needs to do to stay complaint with changes.

Much of the focus was on how best to communicate to the C-Suite and how best to ensure projects a trade team needs are able to have funding and time appropriately given to them.

Staff Challenges

The need for mentorship and key talents was discussed. Customs brokers and compliance professionals have significant workloads already and with more retiring without new talent coming into these spaces it presents a core risk for businesses.

The need for business mentorship was repeatedly highlighted. AWTCC also partners with Global Trade Jobs to help businesses find new talent.