U.S. Chamber releases report on economic impact of digital trade

A new report from the U.S. Chamber of Commerce shows that digital trade supports more than 3 million jobs and accounted for $2.6 trillion in gross domestic product (GDP) in 2022, which is equivalent to 10 percent of all U.S. economic output.

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The report drills down and looks at the impact of digital trade, state by state, in terms of jobs and economic impact. Digital trade casts a wide net and includes everything from telemedicine to GPS-enabled cars to streaming movies.

“Digital trade benefits millions of Americans employed by companies of every size, sector, and state,” Sean Heather, U.S. Chamber senior vice president for International Regulatory Affairs, said. “This report should be a wake-up call for anyone—including the USTR—who wants to abandon America’s longstanding support for strong digital trade rules.”

The Chamber also announced that it is embarking on an education campaign that will highlight the benefits of digital trade in every congressional district. The campaign will include a substantial digital ad buy and Congressional outreach. Through it, the Chamber will call on lawmakers to protect the jobs and growth that digital trade generates.

“A remarkable element of the digital economy is the broad participation of U.S. companies extending beyond the tech sector to manufacturing, transportation, arts and entertainment, and even agriculture,” Heather said. “We call on our elected leaders to protect and promote these businesses by supporting digital trade. If we don’t, it will directly harm American workers, invite unfair treatment of U.S. companies, and threaten our competitiveness.”

Interested parties can read the full report at USChamber.com.