Subcommittee Holds Field Hearing On Trade In Pennsylvania

Statement

House Small Business Subcommittee on Agriculture, Energy and Trade Chairman Scott Tipton (R-CO) today held a field hearing on the impact of U.S. trade policies on small businesses and manufacturing at the Pittsburgh Technology Council in Pittsburgh, PA. The hearing was held near the district of Subcommittee Ranking Member Rep. Mark Critz (D-PA).

According to Census data, the United States exported over $2.1 trillion in 2011, or 14 percent of the gross domestic product (GDP). In 2010 alone, American exports supported nearly 10 million jobs, including an estimated 4 million for small businesses.

"Trade is a major component to the U.S. economy, and American businesses engaged in trade help support and create millions of good-paying local jobs," said Chairman Tipton. "Multilateral and bilateral free trade agreements (FTA) create new market opportunities for small business exporters by removing trade barriers and making it easier to export. As a result, exports to these countries are growing at a faster rate than the rest of the world. In 2011, goods manufactured in the United States had a $49 billion trade surplus with FTA countries.

"With just one percent of the 28 million small businesses exporting, there is great untapped potential for economic growth and job creation. However, we must hold countries accountable for unfair trade practices to ensure small firms have a level playing field. It is important that we hold hearings like this to closely analyze how our trade policies affect small businesses."

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