A total of 52,771 SMEs from the United States exported products to Mexico in 2019 (latest data available), according to data from the White House Trade Representation (USTR).
At the same time, 87,225 US SMEs exported to the Canadian market.
While these exports to Mexico were for 82,600 million dollars, those sent to Canada totaled 59,000 million, in both cases they only correspond to products, not including services.
The Agreement between Mexico, the United States and Canada (T-MEC) contains key provisions that support Small and Medium Enterprises throughout the Agreement.
The SMEs chapter promotes continued cooperation between the Parties to increase business and investment opportunities for SMEs.
The T-MEC also established tools to share information that help these companies to better understand the benefits of the Agreement and provides other useful information for them to do business in the region.
SMEs
In addition, the chapter established a committee on Small and Medium Business issues, made up of government officials from each country.
Additionally, the chapter launched a new framework for a dialogue that is open to the participation of these businesses, including those owned by diverse and underrepresented groups.
The Dialogue will allow participants to provide views and information to government officials on the implementation of the Agreement to help ensure that SMEs continue to benefit.
Other provisions in this regard include provisions on customs and trade facilitation to reduce red tape and reduce costs, and a new chapter on digital trade that contains the strongest provisions of any international agreement, including: support for small businesses enabled to Internet and electronic commerce exports; protect the intellectual property of innovators; support cross-border trade in services for small businesses; and support small businesses through good regulatory practices to promote transparency and accountability when developing and implementing regulations.
Tariff barriers, cumbersome customs procedures, discriminatory or arbitrary rules, lack of transparency regarding relevant regulations, restrictions on digital trade, and insufficient protection of intellectual property rights in foreign markets present particular challenges for companies. US SMEs exporting abroad.
