PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Advocate for Entrepreneurs and Small Business Praises “Phase One” Deal and Trade Negotiation Progress with China

By at 13 December, 2019, 1:32 pm

NEWS

For Immediate Release

Washington, D.C. – The following statement can be attributed to Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan on the announcement by President Donald J. Trump and the Office of the United States Trade Representative (USTR) that a “Phase One” trade deal has been reached between the United States and China:

“Chinese theft of American intellectual property is a costly and insidious reality for many of our small businesses, and we are pleased to see that the Phase One deal addresses this issue in a meaningful way through enforceable structural changes. We look forward to seeing the details of all structural reforms, including those that address barriers to entry for agriculture, financial services and the full range of products and services offered by U.S. entrepreneurs and small businesses across all sectors of our economy. In addition to IP protections, lowering costly and undue barriers will enable more entrepreneurs and small businesses to do business in China. The establishment of a dispute resolution system along with tariff relief also demonstrate significant progress. The fact that a Phase Two deal will be pursued immediately will build upon the progress that has been made to date and will be very beneficial for the U.S. economy, investment and small business opportunity. We congratulate President Trump and U.S. negotiators for achieving this deal prior to the end of the year, and moving aggressively forward on the next phase of negotiations with China.”

According to the announcement by USTR: “The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports.”

FAST FACT: More than 75 percent of American firms doing business with China have less than 20 employees, while those with less than 50 employees make up 86.7 percent. (Census Bureau 2017)

 

Contact: 

Karen Kerrigan, SBE Council president & CEO

e-mail: kkerrigan@sbecouncil.org

 

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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