The Numbers and Issues Defining Trade
Lori Otto Punke, President, Washington Council on International Trade
This month’s release of our 2022 Trade Policy Agenda as well as our new WCIT Quarterly Trade Dashboard provides the latest relevant information on the trends and the critical issues that are defining international trade in Washington state. With close to a million jobs in the state connected to trade, these issues and this information matter to the future growth of the region and the livelihoods of workers in communities throughout the state.
Education and outreach are core to WCIT’s mission to foster trade and investment policies that increase the competitiveness of Washington state workers, farmers and businesses. Both the policy agenda and the Dashboard reflect our commitment to:
- Provide Insights: Evaluate and share objective data on the impact of trade policies on the region’s economy
- Advocate smartly: Educate our local, state, and federal elected officials about the benefits of strong international trade policies and investments to Washington employers and residents
- Encourage Action: Engage diverse stakeholders from across the state to drive policy changes that help them succeed in the global marketplace
In striving to achieve these objectives, we recognize that nothing grabs attention like relevant data and stats. That’s why we are so excited to launch the trade Dashboard — a new feature on our website that is chock full of current and thought-provoking insights. The Dashboard provides a real-time snapshot at what’s going on in Washington state trade, with new data tracked on a monthly and quarterly basis giving Washingtonians a fascinating glimpse into the key trends shaping our state’s economy. This tool, which will be updated each quarter, will be valuable in not only identifying new developments but also determining the underlying causes that will inform our advocacy and action. We believe that providing this timely information in an easily digestible, clear, and fun format will help all Washingtonians better understand the impact international engagement has on all of our lives.
Data and trends will help define our advocacy as well, as seen in WCIT’s 2022 Trade Policy Agenda. The twelve issues highlighted in the Policy Agenda reflect WCIT’s focus on the key areas where we can have the most impact and the potential to forge consensus and action. These issue areas address both current challenges and potential opportunities. Consistent with our commitment to make things clear and straightforward, there is a brief synopsis for each issue, a concise explanation of the positions we take and links to resources where you can go to learn more.
The Policy Agenda has evolved over the years to reflect a dynamic international business, economic and political environment. For example, this year we’ve included “Addressing global supply chain challenges” as a key priority that emphasizes the importance of an ongoing coordinated response to shipping logjams that came in the aftermath of the pandemic. We’ve also added a specific focus on the Asia-Pacific market given its importance to the state and we’ve included issues like “Exploring ways to make trade more climate-friendly” given the implications climate technologies and environmental policies are having on international commerce. We believe it’s important to our members and all Washingtonians to highlight the most important current issues recognizing that, given the fast-paced global marketplace, our agenda is ever evolving.
There are some common themes that bind the Dashboard and the Policy Agenda that I want to call out. First, is the undeniable importance of trade to Washington state – our geography, our heritage and our diverse, cutting-edge economy has thrived in no small part to our outward looking, innovative spirit. Next is the crucial link between international engagement and our regional economy. There are a variety of factors, including a reluctance about globalization and a mistrust in international institutions, that currently serve as headwinds against efforts to forge opportunities in markets abroad. But for our region to continue to thrive and grow, we must engage. If we’re not going forward on trade, we are moving backwards.
WCIT is committed to providing timely data so Washingtonians are informed and better understand how the decisions made by our federal and state elected officials impact all of our lives. So, I encourage you to check out our website, take a look at the Trade Dashboard and read through our 2022 Policy Agenda. We’d love to hear your thoughts and welcome your input.