Government

SBA Administrator Carranza: USMCA to Benefit America’s Small Businesses

By MBE Magazine Staff 
Last updated on February 5th, 2020 09:56 pm
SBA Administrator Jovita Carranza takes her oath during the swearing-in ceremony.

Minority-owned businesses to benefit from access to new markets.

WASHINGTONU.S. Small Business AdministrationAdministrator 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.”

Clickhereto learn more about the USMCA.