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U.S. International Trade Commission Conducts Study Analyzing SMEs and Trade Policy

Thursday, August 27, 2015

(North American Meat Institute)

The U.S. International Trade Commission conducted a study that analyzed the relationship between small or medium enterprises (SMEs) and trade policy to determine the role of SMEs in generating exports and jobs, while assessing current barriers to trade for these businesses. The study found that SMEs accounted for nearly two-thirds of net new private sector jobs in recent decades and that exporting SMEs grow faster, create more jobs and pay higher wages than business that do not engage in international trade. The study also concluded that SMEs benefit from trade with Trans Pacific Partnership (TPP) countries, revealing that 171,000 of the 177,000 U.S. companies exporting to TPP countries were SMEs. Meanwhile, the study asserted that TPP will pave the way for SMEs to compete and thrive in the Asia Pacific region by eliminating tariff and non-tariff barriers, simplifying customs procedures, strengthening intellectual property protection, developing more efficient and transparent regulatory regimes and promoting e-commerce.

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