“Last year, our exports to China exceeded $100 billion for the first time."
“China has become our second largest trading partner,” U.S. Under Secretary of Commerce for International Trade Francisco Sánchez said at a roundtable on small-and-medium-sized enterprises in Washington, DC. “Last year, our exports to China exceeded $100 billion for the first time . . . These outcomes are aligned with the goals of President Obama’s National Export Initiative . . . launched in 2010 . . . to double U.S. exports by the end of 2014.”
Businesses that specialize in export face many challenges, including uncertain regulatory environments and market access limitations.
“We’re working to address these challenges,” Under Secretary Sánchez said. “One way is through our Trade Agreements Compliance Program, which is helping companies overcome foreign government-imposed trade barriers every day. This program is a one-stop shop for remedying unfair situations in global markets. When a business reaches out to us — we quickly engage foreign governments to get the barrier removed or mitigated as quickly as possible.” In addition, we also coordinate with various government agencies with other tools that can be used to address trade issues facing our exporters.
There is a misperception that exporting is only for the big corporations, which is not the case. In fact, 92 percent of all U.S. exporters to China in 2010 were small-and medium-sized enterprises.
“Our staff stands ready to help all small-and-medium-sized enterprises on issues ranging from tariffs, to customs and excessive fees.” Under Secretary Sánchez said. “We support training to help firms to both start exporting, or build on their existing efforts. We also promote participation in major international trade shows and trade missions.”
Department of Commerce’s Commercial Service team stationed in China works to link U.S. businesses with the opportunities in China by providing U.S. firms with services such as counseling, customized market research, and single-company promotion to Chinese buyers.
“A few days ago, I was proud to sign a Memorandum of Understanding with China’s Ministry of Industry and Information Technology . . . focused on the development of small-and-medium-sized companies,” Under Secretary Sánchez said. “Today’s small-and-medium-sized enterprises are full of innovation, putting people to work, and a key to our nation’s economic future. We’ve got to give them opportunities to succeed in growing markets like China.”