So it is affecting our competitive position in many markets.ĭavid Brancaccio: Currency goes up, currency goes down, it is an especially unpredictable market. And right now, there’s much lower cost for the importer in these markets because of the weaker value of the euro. If we’re vying for a project, bidding on a project – in say, Peru, or in Singapore – with an American product, more often than not, our main competitor is a European manufacturer. We are selling mostly higher-quality, higher-priced U.S. And I say “at least not in Europe,” because it is affecting our competitive position, interestingly enough, in other parts of the world.ĭ avid Brancaccio: I guess you’re talking about in reverse when European companies are competing against us here and other countries?Įd Dorian: Well, let me first talk about the fact that we’re a global company, we export to more than 100 countries across the globe. So we have several salespeople that live and travel in Europe, and the feedback we’ve gotten from them is that so far, we haven’t received a lot of pushback from customers about the strengthening of the dollar versus the euro, at least not in Europe. manufacturers far less competitive, I think has been kind of obscured. And in the middle of all this, the drop in the value of the euro, which normally would have a big impact and make U.S. Manufacturers who traditionally might put through a price increase of 2% or 3%, once every 12 or 18 months, in some cases have implemented double-digit price increases two or three times a year, over the last two years. But we’re also living in a time of rampant inflation. First of all, for all the disruptions in supply chain. That must cause them some grief.Įd Dorian: Under normal circumstances, a drop in the value of the euro would be severely impacting our sales of U.S. You work with companies that export to Europe – that will make the American products sent there more expensive. The following is an edited transcript of their conversation.ĭavid Brancaccio: A euro, the single currency, costs about one U.S. Marketplace’s David Brancaccio spoke with Dorian about the side effects of a weaker euro on U.S. companies are feeling the sting of the euro’s drop in value elsewhere. That unusual time includes supply chain disruptions and aggressive inflation. But we’re living in a very unusual time,” said Ed Dorian Jr., president and CEO of Dorian Drake International - an export management company. “Under normal circumstances, a drop in the value of the euro would be severely impacting our sales of U.S. That’s because there’s just a lot going on right now. companies that export to Europe, but not exactly. You’d think the sliding value of the euro against the U.S.
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