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Over a quarter million small businesses in the United States export their products and services to other countries around the world. By doing so these businesses increase their revenues, broaden and diversify their customer base, and provide jobs for their local communities. The United States has set a goal to double exports by 2014 in order to support the addition of two million jobs for the American workforce and encourage economic growth. To reach this goal and help small businesses further increase their exports, the Office of the U.S. Trade Representative, the Department of Commerce, and the Small Business Administration have released a new Free Trade Agreement (FTA) Tariff Tool.
This new tool allows businesses to perform instant searches for tariff treatments involving specific industrial products under each United States FTA. Small manufacturers with plans to enter new export markets will benefit greatly from this use of the tool. Small businesses looking to export abroad can use the tool for accessing market and sector reports as well as other FTA information. Many American small businesses begin by selling to countries in trade agreements with the United States. With 17 countries belonging to United States FTA partnerships, small business owners can use the new tool to decide which market is ideal for their business.
Small and medium-sized firms represent the majority of U.S. companies exporting to FTA partnered countries. With the help of these trade agreements, American small businesses have exported their products to key partners around the world. Now, the new FTA Tariff Tool will empower many more small businesses to take advantage of the vast trade opportunities across the globe.
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