Yesterday, U.S. Trade Representative Michael Froman testified before the Senate Finance Committee and the House Ways & Means Committee on the 2015 U.S. trade policy agenda. Both Congressional Committees have jurisdiction on the issue of trade and as trade negotiations heat up in the new Congress, Congress and the Administration will be discussing the future of our nation’s trade policy.

In his testimony, Ambassador Froman discussed the importance of trade to the American economy. In fact, U.S. exports supported “a record-breaking 11.3 million jobs”, which in 2013, paid “18 percent more” than non-export related jobs.

“Since 2009 America’s total exports have grown by nearly 50 percent, and contributed nearly one-third of our economic growth. And during the most recent year on record, 2013, U.S. exports reached a record high of 2.3 trillion dollars and supported a record-breaking 11.3 million jobs”, testified Froman. “At a time when too many workers haven’t seen their paychecks grow in much too long, these jobs typically pay up to 18 percent more on average than non-export related jobs.”

He also discussed the new trade opportunities that are available to U.S. small businesses. In the past, small businesses were largely left out of the global marketplace. However, with the rise of the Internet and platforms like eBay and PayPal, small businesses can reach customers all over the world.

“We have 300,000 firms in the U.S. that export, and 98 percent of them are small and medium-sized businesses, businesses with fewer than 500 employees”, said Froman. “And yet, only about 10 percent of small businesses export, and most of those export to only one country. So the opportunity is immense, including, as you say, through the Internet and through the digital economy.”

The eBay Inc. community has been supportive of both the modernization of the U.S. trade agenda. In fact, eBay-enabled businesses recently sent a letter to the President calling for the United States to update its trade laws in an effort to create more opportunities for Internet-enabled small businesses.  Learn more about eBay Inc.’s trade story.