Washington, D.C. — Plastics Industry Association (PLASTICS) Chief Economist, Dr. Perc Pineda, has released a new economic analysis highlighting the enduring strength of the U.S. plastics trade surplus with the United Kingdom, and the implications of the emerging U.S.–UK Economic Prosperity Deal (EPD) for the plastics industry.
Dr. Pineda writes, “In 2023, the U.S. recorded a $296.5 million plastics trade surplus with the UK, a trend that continues in 2024 with a preliminary surplus of $451.9 million. This growth is driven largely by strong exports in resin and plastic products.”
He continues, “The EPD offers meaningful market access and trade stability, while sector-specific provisions—such as tariff-rate adjustments tied to automotive manufacturing—create favorable conditions for continued plastics trade. These developments highlight how strategic trade agreements can protect U.S. industry advantages and spur opportunities in both manufacturing and exports.”
Click here to read the full analysis on the PLASTICS blog.
The Plastics Industry Association (PLASTICS) supports the entire plastics supply chain, including Equipment Suppliers, Material Suppliers, Processors, and Recyclers, representing over one million workers in our $519 billion U.S. industry. PLASTICS advances the priorities of our members who are dedicated to investing in technologies that improve capabilities and advances in recycling and sustainability and providing essential products that allow for the protection and safety of our lives. Since 1937, PLASTICS has been working to make its members, and the eighth largest U.S. manufacturing industry, more globally competitive while supporting circularity through educational initiatives, industry-leading insights and events, convening opportunities and policy advocacy, including the largest plastics trade show in the Americas, NPE: The Plastics Show.
