By expanding into the US, Welsh companies can tap into one of the most successful and vibrant economies in the world. However, a clear plan is necessary for success due to the size and complexity of the market. Understanding the market, anticipating obstacles, and utilising expert guidance are essential. This is what businesses need to know…

Why trade with the USA?

The US is the UK’s largest trading partner for both goods and services, with 17.7% of all UK trade in 2024, including £196.3bn in exports and £118.3bn in imports. The US is also a vital market for Wales. In 2024, Welsh companies imported £4.2bn and exported £2.2bn worth of goods to the US, making it the country’s largest import market and second-largest export market. The US market is very attractive to interested Welsh exporters due to its enormous size, diversity, and purchasing power.

Beyond the numbers, the US has a high demand for cutting-edge goods and services, few language hurdles, and access to international supply chains. With the US continuously ranking as Wales’ top inward investment donor, Welsh industries like food and drink, advanced manufacturing, and technology have already found success in the United States and is one of the Welsh Government’s priority target markets in its International Strategy and Export Action Plan.

Will tariffs affect trade with this market?

For Welsh exporters, tariffs could be a major factor when trading with the US market. As part of what was termed ‘Liberation Day’, the US imposed tariffs on countries worldwide including 10% on goods imported to the US by the UK. While negotiations between the governments of the US and the UK have reduced car export tariffs to 10% and removed the 25% tariff on steel and aluminium products in the UK-US Economic Prosperity Deal, the 10% on most goods remains which may affect Welsh goods’ ability to compete in the US market.

How can my business pitch my goods and services to the American market?

More than just a high-quality product, a customised strategy and a distinct value proposition are also necessary to be successful in the US market. First and foremost, in order to fully understand demand, competition, and regulatory requirements, it is critical to carry out thorough market studies and understand potential clients to craft your story, pitch and strategy.

Collaborating with experts, like American World Services (AWS), can also yield important information and point out the most effective entry points, from choosing the appropriate distributors, agents, or licensing partners to marketing goods and services effectively.

Chambers Wales South East, South West, and Mid’s trade team are dedicated to helping Welsh businesses access and export to new markets successfully, including the United States. As part of a series of events to help members, partners and businesses, the Chamber teamed up with American World Services to deliver a webinar on 20 May. Drawing on AWS’ 25 years of experience assisting European SMEs in thriving in the US, the session gave attendees practical insights on market entry, partner selection, and strategy navigation.