NSBA and SBEA are working to keep American small business and opportunities for exporters at the center of trade considerations.
As the 118th Congress kicks off with split majorities in the Senate and House, it remains to be seen how prominent an issue global trade will be. Last year, the Biden Administration launched economic initiatives in the Indo-Pacific regions, expanded export controls on Chinese entities and adopted contested industrial subsidies.
The effects of these commitments and expansions are still taking shape, but, trade watchers believe there will be consensus and common ground for Congress to coalesce around on certain trade policies.
This includes supporting American businesses and workers through strengthened foreign policy; implementing commercially-meaningful trade agreements with key partners in the Western Hemisphere; and Congress actioning programs, like the Miscellaneous Tariff Bill, as well as furthering oversight on trade ties with China.
House Republicans are assembling a new special panel to oversee competition with China, with particular focus on protecting American intellectual property and tech.
Even with the Chinese Ambassador in Washington recently being appointed as the new Chinese Foreign Minister – a sign of China’s interest in his American-influenced perspective in shaping its foreign policy – oversight of competition with a formalized congressional committee has the potential to heighten trade tensions between China and the U.S.
Beyond China, a quadrilateral dialogue between the U.S., Japan, Australia, and India is expected to continue, taking on its increasing importance in the region.
As trade, foreign relations and intellectual property protections are considered this Congress, follow NSBA and the Small Business Exporters Association (SBEA) as we pursue productive policies to position small business at the center of these considerations.