WASHINGTON, Oct. 7, 2015 (GLOBE NEWSWIRE) -- After several months of working with members of congress, local Mayors and Administration officials, the USHCC is thrilled that negotiations between the US and the 11 other members of the Trans-Pacific Partnership (TPP) have concluded, and an agreement was reached. Our association is particularly elated to know that for the first time in any trade agreement, TPP includes a chapter specifically dedicated to helping small- and medium-sized businesses benefit from trade.
Small businesses are one of the primary drivers of job growth in the U.S., but too often trade barriers lock small businesses out of important foreign markets when they try to export. In fact, 98 percent of the 300,000 US firms who export are small businesses. Of these, minority firms are more likely than non-minority firms to have businesses generating 100 percent of all their sales in exports. This agreement will address trade barriers that pose challenges to small businesses, such as high taxes, overly complex trade paperwork and customs "red tape."
The USHCC is committed to helping our membership of Hispanic entrepreneurs – as well as all American businesses – make the most of TPP, which will help level the playing field in foreign markets, make it easier for small businesses to sell their goods, increase competition, and create opportunities for entrepreneurs to expand operations at home and abroad.
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of our nation's entrepreneurs. The USHCC advocates on behalf of nearly 4.1 million Hispanic-owned businesses, that together contribute in excess of $661 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations across the nation, and partners with more than 250 major corporations.
For more information, visit www.ushcc.com.