On June 29th, 2015, President Obama signed the Trade Promotion Authority (TPA) bill into law after weeks of contentious debate. This legislation clears the way for the President to negotiate trade agreements that afford small businesses equal access to international markets. TPA is an important step toward modernizing trade policies originally passed in the “pre-internet” era. The eBay community had a hand in making this happen; our grassroots campaign on this subject resulted in more than 50,000 emails and tweets to Members of Congress supporting passage of TPA.
However, our work is not done – TPA is only the first step toward modernized trade agreements. eBay believes that trade policies should be updated to open markets and allow for the resale of goods, cross-border retail returns, and international data flows. Currently under negotiation are a series of bills and international partnerships that would decrease barriers to global trade for Internet-enabled U.S. small businesses:
- Customs Reauthorization Bill: The House and Senate are currently working toward an agreement on a Customs Reauthorization bill that would streamline customs procedures for consumers and businesses. Of note, final legislation is expected to increase the U.S. de minimis threshold (the value over which customs paperwork and duty fees must be processed on shipments) and encourage U.S. trading partners to do the same. The legislation would also update customs policies to improve the ability of U.S. sellers to accept retail returns.
- Trans-Pacific Partnership (TPP): The United States is engaging in talks with 11 other countries to develop a consensus on a trade partnership that seeks to improve outdated regulations and help U.S. small businesses benefit from increased access to Asia Pacific markets. With the passage of TPA, negotiators are moving forward on final TPP negotiations and Congressional review is expected before the year’s end.
- Transatlantic Trade and Investment Partnership (TTIP): A trade and investment agreement currently being negotiated between the United States and the European Union which would reduce barriers to trade and customs duties between the two influential trading partners. TTIP negotiations are ongoing as stakeholders seek the best possible solution.
Learn more about global trade, as well as other issues affecting internet-enabled small businesses.