Since the election of Donald Trump, great uncertainty has prevailed over the economic policy of the United States and its trade relations with Continental Europe. Against this background, a roadshow on the subject of future economic development and business opportunities with the U.S. was recently organised by the logistics company Kuehne + Nagel in cooperation with the American Chamber of Commerce in Austria (AmCham) to analyse facts and current developments. In Vienna, Linz, Graz and Innsbruck four economics experts pointed out relevant facts for transatlantic business relations.
Hans Heinrich Hilgenstock (Director Route Development – Germany, Switzerland and East Europe, Kühne + Nagel, USA) emphasised on the strict compliance and customs regulations as well as other standards in the USA, which sometimes mean great challenges to companies exporting to the United States. “Made in Austria” or “Made in the EU” is still valid today in the USA, but delivery times must meet American expectations in order to succeed in the market, said the logistics expert.
For this reason, he recommends companies to use the numerous smaller ports on the East Coast, which offer better infrastructure, shorter handling times and better weather conditions than the overflowed mega ports on the West Coast. It was also important to be located near an airport offering good connections “because customers require short-term personal care”.
Al Guarnieri, Senior Partner ParkerPoe Adams & Bernstein LLP, USA, deems three main actions as essential for companies to gain a foothold in the American market: following the export phase from the domestic market, an American branch should be opened, followed by expansion on the US market. Special attention should be paid to the marketability of products with regard to American legislation, which is clearly different from the EU in many areas.
“For the majority of exporting companies, also under the new administration, there is no alternative to the U.S. market as the second most important export market for Austria. However, it pays off to know the market rules in order to be able to celebrate transatlantic business success. The USA are still highly attractive for business operations,” said Daniela Homan, AmCham general secretary at the launch of the roadshow in Vienna.
www.amcham.at; www.kuehne-nagel.com
