The Large Stake of U.S. Small Business in an Expanding Global Economy

America’s growing engagement in the global economy is not just a story of the Fortune 500. Increasingly, small and medium sized U.S. companies are entering global markets not only to sell but also to buy and invest. In response, Congress and the administration can and should do more to open new opportunities for U.S. small businesses to remain competitive in a globalized economy.

Members of Congress should start from the premise that expanding trade and globalization are not a threat to American companies but an opportunity. We should reject the protectionist and defeatist arguments that portray the U.S. economy in general and American manufacturing companies in particular as victims of global competition. Nothing could be further from the truth.

“The more we prosper, the more we trade; the more we trade, the more we prosper.”

TESTIMONY OF

Daniel T. Griswold
Director, Center for Trade Policy Studies
The Cato Institute

before the

House Small Business Committee
Washington, DC

Full Testimony: http://www.freetrade.org/node/679