News From Congresswoman
Nydia M. Velázquez
Representing New York's 12th Congressional District - Brooklyn, Manhattan, Queens
Ranking Democratic Member, House Small Business Committee

For Immediate Release
July 14, 2004

CONTACT: Kate Davis, Allyson Ivins, (202) 225-4038

Velázquez: Bush Administration Must Address Small Business in International Trade Policies
Small businesses face excessive burdens in trade laws with foreign markets

WASHINGTON - Congresswoman Nydia M. Velázquez (D-N.Y.), Ranking Member of the House Small Business Committee, today highlighted the need for the Bush Administration to reassess its current international trade policies in order to alleviate burdens placed on U.S. small exporters.

"The ability of the United States to remain competitive in today's fast-growing global market is critical now more than ever," Congresswoman Velázquez said. "The global economy has significantly grown - so much that 80 percent of world economic consumption takes place outside of our borders. In order to guarantee that this nation remains a world leader, and is able to work efficiently within the world market -we must make sure that current trade laws are properly examined, so all businesses can take advantage of the international market."

Small businesses account for 97 percent of American exporters. Despite this tremendous involvement in the global market, U.S. exporters continue to face a struggling economy at home, as well as tough competition abroad. The committee today examined legislation, H.R. 3716, which allows domestic businesses who face competition from products imported from non-market economies to seek remedies in the form of countervailing duties (CVD).

Congresswoman Velázquez stated that while H.R. 3716 represents one course of action to create fairness in the international market, it must be viewed in conjunction with other needed solutions to fully address the ability of small businesses to be successful in today's global economy. For example, a major concern for small firms is the need for adequate access to technical assistance and capital in order to remain a top competitor in the global market, and access existing foreign markets. Many of the small business programs which provide this assistance have been cut by the Bush administration's budget.

"In order for this sector to create the jobs we so desperately need here at home, while remaining competitive abroad - these needs must be addressed in our trade policies," Congresswoman Velázquez said. "It is my hope to find a solution that not only creates a level playing field for these small exporters, but also allows them to be as competitive as possible. This solution should allow our nation's 23 million small businesses - the economic engine of our economy - to have free and fair access to the global marketplace, no matter what the circumstance is."

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