Secretary Pritzker and Senator Kaine Meet with Local Business Leaders in Richmond to Discuss Trade Opportunities

U.S. Secretary of Commerce Penny Pritzker today traveled to Richmond, Virginia to join U.S. Senator Tim Kaine for a roundtable meeting with local business owners. They discussed the importance of trade and exports to economic growth, and how new trade opportunities for businesses, including deals like the Trans-Pacific Partnership, will open doors for Virginia companies and the Commonwealth’s economy. 

The roundtable was hosted by the World Art Group, a small business in Richmond that understands the importance of exports firsthand. World Art Group has been producing wall décor for more than 40 years. They now ship their goods to more than 30 countries, including China, Korea, Singapore, Australia and Japan. However, the company faces tariffs as high as 20 percent in certain Trans-Pacific Partnership (TPP) countries, such as Malaysia and Vietnam, and elsewhere around the world.  These tariffs impede the company’s competitiveness and ability to sell in key markets. World Art Group is a prime example of why reaching new agreements that reduce trade barriers is necessary for local businesses to reach some of the fastest-growing markets around the world.

Through the TPP negotiations, the Administration is working to eliminate tariffs and non-tariff barriers as quickly as possible, so World Art Group and companies throughout Virginia can compete more effectively around the world. The Administration is working to streamline customs procedures and promote transparency, which will make it easier for small manufacturers like World Art Group to enter markets on fair terms.

After discussing trade with local business leaders, Secretary Pritzker and Senator Kaine toured the World Art Group’s manufacturing facility, where they saw artists painting, art being scanned, printed, and framed, and the final product being boxed and shipped to international locations.

Trade agreements will not only help small businesses like World Art Group and strengthen local economies – they will also give the United States more opportunities to promote American values, raise standards, and maintain a competitive edge for our businesses in today’s global economy.