International trade is very important to Washington - Boeing and aerospace, Microsoft, Starbucks, agriculture and other exports. And imports. And China is the largest trade partner.
Washington Council on International Trade released a study:
- International trade is a key driver of our state's economy.It spans across nearly every industry sector - from agriculture to aerospace to IT to tourism. Based on new research, nearly 40% of all jobs in Washington can be tied to trade-related activity, making our state one of the most trade-engaged economies in the country.
- Services are an increasingly important part of our trade economy. While it is widely known that Washington is a leader in merchandise and commodities exports like agriculture and aerospace, we are also a growing leader in the export of services such as IT and tourism.
- The state government has a key role to play. Much of our country's trade policy is set at the federal level, however, state government is crucial to Washington's international competitiveness.
- Imports mean jobs in Washington state. Although shifting global supply chains cause economic hardship for many people in the U.S., imports also help employ many Washington residents - because of our state's role as an Asian gateway and as the home to a wide diversity of retail and manufacturing headquarters that leverage global supply chains.
- Washington's international engagement goes beyond imports and exports. Foreign direct investment provides capital for our state's businesses and infrastructure, as well as direct employment for Washington residents. Immigrants and foreign-born residents strengthen our workforce, drive innovation and bring with them connections to our trading partners.
- There are steps we can collectively take to increase Washington's international competitiveness. The strategy provides six recommendations that will have the maximum impact on increasing the ability of Washington businesses and organizations to successfully engage internationally.