BECKERMAN: “It is time U.S. trade policy reflects the integral role that digital trade and the Internet plays in our modern economy.”
Washington, D.C. — Today, the Internet Association released a report highlighting the importance of the Internet economy to global trade, and brought three small business owners to Capitol Hill to illustrate the importance of including digital trade provisions in future trade legislation. Emphasizing that the United States is a net exporter of Internet services and products, the Internet Association’s newest policy paper focuses on the experiences of Internet-enabled small businesses competing in today’s global economy.
“The Internet industry calls on Congress to pass trade legislation that recognizes the importance of Internet-enabled trade,” said Michael Beckerman, President and CEO of the Internet Association. “When the last TPA bill was passed in 2002, some of the most well known Internet companies had either just come into existence or did not exist as all. It is time U.S. trade policy reflects the integral role that digital trade and the Internet plays in our modern economy.”
With over three billion users, the Internet is integrated into every aspect of global commerce and communications, accounting for 21 percent of worldwide GDP growth in advanced economies. Internet platforms level the playing field for small and medium sized businesses, are proven drivers of economic growth, and allow users to transcend borders and cultures to reach new customers.
In the U.S. alone, American Internet companies and their global community of users contribute over $141 billion in annual revenue to the overall U.S. GDP, simultaneously employing 6.6 million people. In order to further encourage consumer-oriented online commerce and economic growth, the report emphasizes the need for policies that foster digital trade and enable businesses of all sizes to reach consumers across the globe.
The full report can be viewed here.