An important tool for small-business owners already operating or looking to enter the international market.
This week, the U.S. Department of Treasury’s Office of International Affairs released its Annual Report to Congress, “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.”
Published every year since 1988, this report reviews developments in international economic exchange rate policies, consulting with the Board of Governors of the Federal Reserve System and International Monetary Fund.
Generally, the report showed positive movement in a number of key indicators such as a stabilization in the price of commodities like food and energy and an easing of supply chain pressures. Unfortunately, conflicts in Europe and the Pacific continue to cause global uncertainty, and inflation remains high.
The report went on to say that, “On net, the dollar finished stronger against nearly all major trading partners,” despite legal actions by U.S. trading partners that sought to weaken the dollar and strengthen their currency.
NSBA’s international trade arm, the the Small Business Exporters Association (SBEA), is continuously engaged with policymakers to ensure small- and mid-sized exporters are a priority in any global trade policy. SBEA and NSBA are proud to work with these regulatory officials and trade policy experts, and we look forward to supporting small-business owners looking to expand their goods and services internationally.