Small- and medium-sized enterprises (SMEs) are the backbone of the U.S. economy and are key contributors to economic growth in other TPP economies as well. The United States’ 28 million SMEs account for nearly two-thirds of net new private sector jobs in recent decades. SMEs that export tend to grow even faster, create more jobs, and pay higher wages than similar businesses that do not trade internationally. We are seeking through this agreement to provide SMEs the tools they need to compete across TPP markets. TPP will benefit SMEs by eliminating tariff and non-tariff barriers, streamlining customs procedures, strengthening intellectual property protection, promoting e-commerce, and developing more efficient and transparent regulatory regimes. In addition, TPP will include a first-ever chapter focusing on issues that create particular challenges for SMEs.
More information can be found at- https://ustr.gov/tpp/Summary-of-US-objectives