International trade specialists provide guidance and analysis for companies and organizations involved in cross-border commerce. This expertise is essential for many businesses. In 2023, U.S. companies imported $3.8 trillion worth of goods and services and exported another $3 trillion.
Trade specialists not only offer advice on the logistics of these transactions, but they can also provide practical insights about tariffs, supply chain costs, and other variables that companies don’t consider when engaging in domestic trade.
Overseas suppliers and buyers likely also have their own trade specialists, so these professionals work on both sides of international deals to ensure they are profitable and logistically feasible.
Here is a closer look at the career path of an international trade specialist.
What Is an International Trade Specialist?
International trade specialists research opportunities and find trends in global commerce so they can help companies make informed decisions on how to conduct trade operations. This requires trade specialists to stay abreast of new tariffs, import and export laws, customs rules, and supply chain changes. International trade specialists can also research the feasibility of different trading strategies and provide actionable advice for carrying these plans out.
International trade specialists can also offer cultural insights to help executives better communicate with foreign partners, assess current international trade operations, and find areas for improvement.
The Growing Importance of International Trade Specialists for Global Business Growth
Over the past century and a half, global trade has grown exponentially. Exports now account for about 25% of global output. Companies need to expand their international reach if they want to remain competitive and profitable.
For instance, Apple uses Chinese manufacturers for many of its products to save on labor costs and reach higher production goals. As such, the company needs to make agreements with overseas manufacturers and stay updated on trade laws, so they can discover the best ways and places to create products overseas as markets shift. When done correctly, this can boost tech company’s overall profit margins. In fact, profitability and changes in supply chains are part of the reason why Apple is looking to move many of its factories to India.
Because companies need to navigate the complexities of international trade, there is a strong demand for international trade specialists. Demand for this role is expected to increase by 19% by 2028, with some experts citing technological advancements as one of the driving factors for this increase.
Roles and Responsibilities of an International Trade Specialist
International trade specialists wear different hats during their work week. Some of the regular responsibilities you can expect in this role include:
- Performing market research. You’ll look at research for new or existing markets and find new opportunities for imports or exports.
- Coordinating logistics. You will use supply-chain knowledge to ship goods for the lowest possible costs.
- Negotiating with potential trade partners. You will talk to partners to set prices and benchmarks for production or quality. This process may involve several rounds of offers and counter-offers before you reach an agreement.
- Researching laws and trends. New taxes or requirements can disrupt trade plans. You need to be aware of these potential changes so your company can adjust before they take effect.
In this position, you will also spend time reporting your findings or insights to company decision-makers.
How Much Can International Trade Specialists Make?
An international trade specialist salary can vary depending on factors like the size of the company, its location, and its industry. As of 2024, the median salary for international trade specialists is $101,553 per year.
How To Become an International Trade Specialist
There is not a well-defined pathway to becoming an international trade specialist. However, obtaining a degree, gaining experience in related entry-level positions, and learning how to overcome the challenges you’ll encounter in your position as an international trade specialist will help make you a desirable candidate.
Education and Skills Required
You can build a knowledge base for your career with a bachelor’s degree in business administration, international business, or economics. These subjects will equip you with a strong understanding of trade principles, finance, marketing, and international law.
You can also pursue a master’s degree in a specialized subject like global business to gain more advanced knowledge and, perhaps, streamline your career progression.Â
Outside of your degree program, you can develop other skills. For instance, foreign language skills can be very valuable in an internationally-focused career. An understanding of different cultures can also help with negotiation and relationship building once you obtain an international trade specialist job.
Career Path and Progression
Entry-level positions such as market researcher, procurement representative, logistics specialist, or junior member of an international trade team are good starting points for working as an international trade specialist. You could also find work as a junior member of an international trade team or department.
In addition to work experience, networking with other professionals in the industry can help you develop valuable connections that you can later leverage to find jobs or provide insight into different international markets. You might also consider specializing in a specific area related to international trade such as trade finance or international relations to help build partnerships and navigate foreign countries’ regulations. You can also specialize in the advisory aspects of trade by working in areas like international consulting.Â
Key Challenges Faced by International Trade Specialists
You will encounter unique challenges in your career as an international trade specialist. Here are the most common difficulties you’ll encounter and how to overcome them:
- Trade regulations vary from country to country. Export controls, customs laws, and labeling requirements can differ significantly. International trade specialists must stay up-to-date on these ever-shifting regulations.
- Cultural barriers such as business etiquette, communication styles, and negotiation tactics vary from country to country. Executives may look for guidance and communication advice from international trade specialists, so you need to cultivate an understanding of each partner’s culture.
- Changing global dynamics can complicate your work. For instance, prices for commodities needed for your company’s operations could increase due to a conflict or a disaster. Your company may look to you for alternative plans of contingencies.
Because of the dynamic nature of these challenges, international trade specialists need to develop a philosophy of lifelong learning. This allows them to gain the skills and insights necessary to continuously thrive in this career.
International trade specialists will continue to be necessary for smooth global commerce. Companies without the insights of these experts may not be able to deal with the constantly changing dynamics of international trade.