Minority-owned businesses to benefit from access to new markets.
WASHINGTON – U.S. Small Business Administration Administrator Jovita Carranza recently issued the following statement in response to President Donald J. Trump’s signing of the innovative United States-Mexico-Canada Agreement (USMCA):
“Today’s signing into law of the USMCA by President Trump is a landmark achievement that promises to create lucrative new opportunities for small businesses, including many minority-owned businesses. Thirty-six percent of Latino-owned businesses earn most of their revenue online, compared to 18% of other small businesses, and this new framework will make it easier to sell products to consumers in Canada and Mexico by eliminating complex and cost-prohibitive rules requiring small businesses to open foreign offices.
“As a result of this President’s leadership on trade, $68 billion in new economic activity will be generated, and an estimated 176,000 new jobs will be created, helping to further fuel upward mobility in communities that need it most.”
Click here to learn more about the USMCA.