Report: Digital Trade Holds Vast Promise for U.S. Workers, Firms
Guest User
On February 9th, the U.S. Chamber of Commerce released a major report entitled The Digital Trade Revolution: How U.S. Workers and Companies Can Benefit from a Digital Trade Agreement. The report underscores the promise of digital trade as a driver of dynamic growth and good jobs in the U.S. and abroad.
To read the full report, click here.
“The digital trade revolution is already delivering benefits for workers and companies across the country,” said U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant. “Americans working in companies of all sizes and sectors can now sell their goods and services digitally to customers around the globe, yet the potential of this sea-change is nearly untapped.”
With details on a host of industry sectors and state-by-state fact sheets, the report shows that most U.S. services exports now have the potential to be delivered to customers abroad digitally. It also reveals how companies of all sizes have the potential to benefit from digital trade.
“While Americans are well placed to seize these opportunities, rising digital protectionism abroad presents a serious threat,” continued Brilliant. “Scores of countries have imposed data localization measures and other trade barriers. In our view, the best defense is a good offense: The United States should pursue a high-standard digital trade agreement with a coalition of like-minded countries that share U.S. ambitions. We need this to secure opportunities for American workers, small businesses, services industries, and others. The time to act is now.”
The Chamber report lays out principles to guide the negotiation of a digital trade agreement. It also identifies a group of countries — dubbed the “Digital Dozen” in this report — considered potentially suitable partners to join the United States in a high-standard digital trade agreement, including countries from the Indo-Pacific and the Americas to the UK.