Digital Trade Companies Applaud Obama on SOTU Trade Push
Small businesses that sell goods in online marketplaces stand to make big gains through an ambitious U.S. trade agenda because they already ship far more goods abroad than “traditional” businesses, said more than 100 “eBay-enabled” companies in a letter (here) to President Barack Obama that praised his push for trade in his State of the Union speech (see 1501210016). The pending Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership trade pacts have the potential to slash remaining barriers to digital trade and boost U.S. gross domestic product, said the companies, which sell everything from jerseys to RV appliances. “Trade rules developed in a ‘pre-Internet’ era unnecessarily complicate international opportunities for our businesses,” said the letter. “Domestic and international customs rules create real obstacles for us to increase exports, while open markets that allow for resale of goods and cross border data flows are critical to our participation in global commerce.”
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Consumer Electronics Association President Gary Shapiro also hailed Obama’s promise to “proactively seek bipartisan support” of trade promotion authority (TPA), “especially with the opportunity we have this year to pass trade agreements that help our manufacturing sector.” To compete in the global marketplace, “U.S. manufacturers have to be able to effectively supply the world with their products,” Shapiro said. “Passing TPA legislation that reflects the realities of the digital age would not only improve U.S. trade, but also strengthen job creation and bolster our economic recovery.”