eBay strongly encourages the Senate to take up and pass the Trade Facilitation and Trade Enforcement Act (H.R. 644), which would support the ability of small Internet-enabled retailers to successfully export across the globe. According to the new Small Online Business Growth Report, 97% of eBay-enabled U.S. small businesses export and 59% of those reach 10 or more different foreign markets. This statistic is notable because less than 4% of traditional businesses export, regardless of their size.
The customs bill enjoys support across industry and on both sides of the aisle, as it takes overdue steps toward updating U.S. customs procedures. For example, this legislation will boost the threshold under which buyers and sellers submit paperwork and pay duties on low-value shipments to the US from $200 to $800, while also encouraging trading partner nations to do the same. In addition, the bill would allow U.S. sellers to accept retail returns, which is a key offering that appeals to overseas customers and increases buyer satisfaction. Currently, U.S. small businesses must pay duty when accepting a returned item from an international customer.
eBay supports the Customs Reauthorization bill because it breaks down traditional barriers to trade for Internet-enabled small businesses and streamlines the customs process. The House of Representatives passed Customs Reauthorization legislation last year, and it is now time for the Senate to pass the reconciled bill.
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