Today, President Obama signed the Trade Promotion Authority (TPA) bill after weeks of sometimes contentious debate. TPA is a very important next step towards the much needed modernization of trade agreements. Today, over 95% of U.S. commercial sellers on eBay export internationally and updated trade agreements offer the best chance to reduce or eliminate many of the obstacles eBay businesses face when attempting to export. The passage of the TPA bill will hopefully make way for changes to many of the outdated trade rules developed in the “pre-internet” era.

The TPA bill that was signed into law is notable in that is seeks to promote an open, equitable and reciprocal market access for U.S. goods and services, ensure that international trading partners move closer to the U.S. standard of law, and ensure that trade agreements afford small business equal access to international markets. eBay believes all U.S. trade agreements should be updated to ensure markets are opened to allow for the resale of goods, cross-border retail returns and international data flows – all of which are critical for eBay sellers participating in global commerce.

eBay would like to thank President Obama and the members of the House of Representatives and Senate that worked so hard to make this new legislation a reality for all small U.S. businesses.