SBEA, NSBA Talks Trade

On Monday, Sept. 26, NSBA President and CEO Todd McCracken joined Commerce Secretary Penny Pritzker for a discussion on the importance of the Trans-Pacific Partnership (TPP) and its potential impact on global trade for small businesses. The event was hosted by the Progressive Policy Institute and featured the release of their new report, “A Big Deal for Small Business: Seven Stories of How the Trans-Pacific Partnership Would Boost America’s Small Exporters.”

Following Secretary Pritzker’s keynote address, McCracken participated in a panel discussion with experts from EBay, UPS and Cask LLC, a small management consulting company. Throughout the conversation, McCracken underscored the enormous potential of TPP to increase small business exporting, citing that “Only 1% of small businesses currently export, yet 49% of non-exporters say they want to explore exporting opportunities.”

McCracken cited NSBA’s recent exporting survey which found that the greatest challenges to exporting are: concerns about getting paid; and complexity and confusion – both issues the TPP could address for small firms.

NSBA has been an outspoken proponent of TPP, citing that it would reduce complexity and barriers by eliminating thousands of foreign tariffs and nontariff barriers; improve the ability to obtain information on markets and rules by requiring the establishment of user friendly web-portals; expedite payments by creating transparent customs rules and requiring the prompt release of shipments through customs; and create common rules for the acceptance of electronic payments and consumer protections for online sales.