Crossroads Trade Summit: Utah’s global state of mind
Photo credit: Jill Jackson
On May 7–8, 2025, the Crossroads of the World International Trade Summit, hosted by Zions Bank and World Trade Center Utah, brought together more than 1,000 attendees from across industries, borders, and sectors — all focused on navigating global shifts with purpose and clarity.
From tariff policy and trade turbulence to diplomacy and leadership, the summit delivered two days of insight, candor, and action — with trade challenges front and center in nearly every conversation.
The first day of the summit focused on Utah companies and their global strategies, while the second day brought international and U.S. leaders together to discuss trust, global challenges, and cooperation in an evolving global landscape.
“There are not many gatherings anywhere — in Washington, D.C., or New York, or L.A. — that have three former secretaries of state, along with former heads of state, ambassadors. So it just shows again that Utah is a significant player in international trade.”
Inside Utah’s global playbook
A powerhouse panel featuring PMI Foods, Varex Imaging, and Wavetronix focused on how companies are adapting to today’s unpredictable climate. “All business is local,” said Varex’s Kimberley Honeysett. They emphasized supplier communication, stakeholder alignment, and calm leadership through volatility.
Cotopaxi, Skullcandy, and Traeger Grills CEOs tackled brand resilience and operational strategy, underscoring the value of clarity — in product, partnerships, and messaging. Their goal: to emerge stronger and healthier, leading with steadfast decision-making. “It wasn’t tariffs and trade that got you here. It was product and brand,” said Traeger’s Jeremy Andrus.
South Korea-based Coupang discussed e-commerce growth in Asia, noting the company’s success in South Korea — the world’s fourth-largest e-commerce market — as well as Japan and Taiwan. HL Rogers emphasized a customer-first mindset and evolving last-mile logistics. “We don’t spend time thinking about the competition. We focus on what the customer wants, and if you create something no one else has, they’ll come.”
Leaders from Zions Bancorporation, Zions Bank, and WTC Utah shared how Utah companies can reduce risk, identify new markets, and grow internationally. They highlighted resources — from foreign exchange services to SBA STEP grants — and emphasized the value of trusted relationships.
The global lens
Former U.S. secretaries of state Antony Blinken, Mike Pompeo, and Condoleezza Rice offered candid takes on U.S. leadership, diplomacy, and economic power.
Pompeo opened the summit with a call to stay globally engaged while focusing on areas of impact: “We are truly exceptional. The whole world depends on the success of the United States of America.”
Rice emphasized the role of values in foreign policy and the stabilizing power of alliances. “Give people a chance to chart their own course in democracy and see what happens,” she said.
Blinken highlighted the need to strengthen relationships with allies, warning that cuts to aid and broad tariffs could erode trust. “The most important currency we have around the world is trust,” he said.
Former prime ministers Jacinda Ardern (New Zealand), Theresa May (United Kingdom), and Kevin Rudd (Australia), reflected on global leadership and international cooperation.
May explored digital regulation and institutional trust, applauding Utah’s entrepreneurial culture.
Rudd, who now serves as Australia’s ambassador to the U.S., examined U.S.-China relations and how strong bilateral ties can foster stability.
Ardern offered a reminder of shared responsibility: “We are too interconnected to not work for a common good.”
Japan’s former national security advisor Shigeru Kitamura joined Strider Technologies for a conversation on global trade and economic statecraft. They underscored how strategic competitors are using trade tools and critical technology access to reshape supply chains and exert influence — a call for businesses to navigate risk with security in mind.
Utah on the world stage
From deepening trade ties with Mexico to leading-edge export growth, Utah’s global momentum was on full display. Consul General Eduardo Baca and Utah Senate President Stuart Adams highlighted shared strengths in medical devices, auto manufacturing, and health supplements — and noted that with integrated supply chains and new direct flights, the two regions have never been more connected.
New data from the Kem C. Gardner Policy Institute, presented by Natalie Gochnour, shows that in 2024, Utah exported $18.2 billion in goods to 201 countries — up 12% over the past decade — and imported $21.9 billion from 154. International trade supported more than 70,000 jobs, added nearly $8 billion to the state’s GDP, and accounted for 3% of total economic output.
That growth is powered by more than 3,500 Utah exporters — 85% of which are small and midsize businesses. “Trade is not a spectator sport. We’re all involved in it,” said Paul Burdiss, president and CEO of Zions Bank.
“Utah is not simply a state participating in the global economy. We are a model for how small and medium-sized companies can thrive despite challenges," said Jonathan Freedman, president and CEO of World Trade Center Utah.
Bishop Gérald Caussé, presiding bishop of The Church of Jesus Christ of Latter-day Saints, added that Utah’s culture of service and inclusion is a global asset — positioning the state for lasting impact through stewardship and community.
Closing the segment, Utah Gov. Spencer Cox, offered a forward-looking message on abundance, cooperation, and global momentum.
“We’re better off when we engage our partners (and) our allies across the world.”
2025 Global Pacesetter: Varex Imaging
Salt Lake City–based Varex Imaging received Zions Bank’s 2025 Global Pacesetter Award for its global contributions to health and innovation — from medical imaging to border security.
Summing up: Utah’s global momentum
With candor and clarity, 2025 Crossroads Trade Summit underscored why Utah is more than just a participant in the global economy — it’s a proving ground for leadership, resilience, and global connection. And while trade policy, including tariffs, continues to evolve, Utah’s business and civic leaders remain united in their commitment to adaptability, collaboration, and forward-thinking engagement.
About World Trade Center Utah
World Trade Center Utah is a private, nonprofit organization whose mission is to accelerate growth for Utah companies through our global network, programs, and services. Utah was the fastest-growing state in the U.S. from 2010 to 2020 and ranked the nation’s best state overall by U.S. News and World Report in May 2025. Officially joining the World Trade Center Association in 2007, the organization has helped companies throughout the state actualize their global potential and was recognized by the U.S. President with the 2021 President’s “E” Award for Export Service — the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports. For more information, visit wtcutah.com or follow @WTCUtah on LinkedIn, Instagram, Facebook and X.
About Zions Bank
Zions Bank is Utah’s oldest financial institution and is the only local bank with a statewide distribution of branches operating 92 full-service branches. Zions Bank also operates 26 branches in Idaho and Wyoming. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending. Founded in 1873, Zions Bank has been serving the communities of Utah for more than 150 years. Additional information is available at www.zionsbank.com. Zions Bank is a division of Zions Bancorporation N.A., Member FDIC.