Significant Cost Reduction Available for Many Key Export and Investment Services Through September 30, 2020
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the U.S. Department of Commerce’s International Trade Administration (ITA) and U.S. & Foreign Commercial Service (USFCS) are temporarily reducing or eliminating the costs of several of their export services, providing relief to U.S. businesses affected by COVID-19. These efforts are intended to encourage the export of non-COVID-19-treatment-related “Made in the USA” products around the world in this moment of economic transition and recovery.
“Today’s action is another example of President Trump’s commitment to ensuring American businesses have immediate access to every available tool to remain competitive and help rebuild our economy as we recover from COVID-19,” said Secretary Ross. “These fee reductions will increase connectivity to export services as our Nation’s exporters help fuel our economic revival.”
For U.S. companies that produce goods or services for export, the USFCS is authorized to reduce user fees and services by up to 100 percent for U.S. small and medium-sized enterprises and economic development organizations, and by up to 50 percent for large U.S. companies. Reduced fees will be provided until September 30, 2020.
“With 95 percent of the world’s consumers outside of the United States, we must ensure that American businesses continue selling internationally,” said Joe Semsar, Deputy Under Secretary, performing the non-exclusive functions and duties of the Under Secretary for International Trade. “The Trump Administration is committed to providing American businesses with the resources and tools needed to expand their export sales at this crucial time.”
In 2019, ITA assisted nearly 30,000 clients, supporting U.S. industry with $88.3 billion in exports of goods and services and helping the facilitation of $18.5 billion in foreign direct investment into the United States. ITA is the premier federal resource for American companies competing in the global marketplace.
ITA’s USFCS has more than 1,300 employees, assisting U.S. exporters in selling their products and services in more than 100 U.S. cities and 75 markets worldwide while also working to secure investment into the United States in coordination with state economic development organizations. ITA’s work to improve the global business environment helps U.S. organizations compete at home and abroad, creating tens-of-thousands of American jobs and ensuring American industry remains the most competitive in the world.
To find your nearest U.S. Export Assistance Center, please visit www.trade.gov/contact-us.
