The U.S. International Trade Commission will conduct two investigations of...
The U.S. International Trade Commission will conduct two investigations of digital trade in the country’s economy, the agency announced Wednesday (http://xrl.us/bn94on). As requested by the Senate Finance Committee late last year, the first investigation -- with resulting report to be…
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released July 14 -- will examine U.S. digital trade in relation to the broader economy, U.S. digital cross-border trade, obstacles to digital trade, “potential approaches for assessing the linkages and contributions of digital trade to the U.S. economy, noting any challenges associated with data gaps and limitations,” according to the release. The second investigation -- with resulting report to be released by July 2014 -- will examine the value of U.S. digital trade and the way U.S. digital trade affects the U.S. economy as well as present case studies of U.S. digital trade in specific industries and examine “notable barriers to digital trade on selected industries,” said the release. A December letter (http://xrl.us/bn94oa) from Senate Finance Committee Chairman Max Baucus, D-Mont., cited research showing “the Internet has fostered GDP growth, improved productivity for large and small firms, acted as a catalyst for job creation, and provided substantial value to individual users.” The changing landscape means that “policymakers are facing unprecedented challenges as they seek to ensure that digital trade remains open while producers’ and consumers’ data remains secure,” Baucus continued, requesting the investigations “to assist in better understanding the role of digital trade in the U.S. economy."