Seize The Day Would Be Exporters Told

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Seize the day, would-be exporters told
9th February 2018

By Karen Pickwick
 
The low value of the pound, current freedom from tariffs at EU borders and a new generous US duty threshold means this is the ideal time for small and medium-sized businsses to take their first step overseas, ParcelHero told the Department for International Trade’s ‘Selling Online’ Conference.
 
The event, staged at the Ricoh Arena in Coventry, attracted about 500 retailers and manufacturers embarking on exporting products to overseas markets.
 
ParcelHero’s head of consumer research, David Jinks, told delegates that ‘all the stars were in alignment for exporting success’.
 
But he cautioned that the impact of Brexit may change the current highly-favourable trading arrangements with European Union countries.
 
“Exporters have never had it so good! It’s to be hoped that a soft Brexit will mirror EU Single Market and Customs Union arrangements as closely as possible. Certainly now is the most cost-effective time for businesses to dip your toes in exporting to Europe and start building relationships.”
 
David also warned that US President Trump’s lack of enthusiasm for low tariffs and free trade agreements meant America’s new minimum duty threshold of $800 (the value under which no duties and taxes are imposed on UK exports into the US) – introduced in the dying days of Obama’s presidency – could be reversed to the former $200 level if President Trump continued his more protectionist agenda.
 
But David urged: “By starting to export now, while all the stars are in alignment for successful exporting, retailers and manufacturers will be in a well-established place and able to meet any changes in EU or US duties.”
 
And he concluded: “Not only is Exporting GREAT, to borrow the title of the DIT’s campaign, it is also far easier and cheaper than many SME businesses may fear.”
 
Also speaking at the Conference were experts from PayPal, Google, Barclays and other major supporters of the DIT initiative.