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Follow on Google News | LA Business Leader Urges Passage of Free Trade Agreements to Boost Small BusinessGreater Los Angeles African American Chamber of Commerce Chairman Gene Hale, a member of the President’s Export Council, supports this week’s expected Congressional consideration of U.S. free trade deals with South Korea, Colombia and Panama.
By: Greater Los Angeles African American Chamber “The ratification of these agreements will be a substantial boost for the economy, small businesses and will create jobs in many local economies,” said Gene Hale, chair of the Small and Medium-Sized Business Engagement Subcommittee of the President’s Export Council. “It’s imperative that the agreements be approved as soon as possible.” According to the U.S. Department of Commerce, large companies make up about 4 percent of U.S. exports. This means that 96 percent of exporters are small businesses. The President’s Export Council is the principal national advisory committee on international trade. The council advises the President of government policies and programs that affect U.S. trade performance; The trade deals – which will phase out tariffs and other barriers to U.S. exports - cleared the U.S. House Ways and Means last week and are expected to be considered in the full House and Senate this week. The Administration estimates the agreements will boost U.S. exports by about $13 billion a year and help create tens of thousands of jobs. End
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