Trade liberalizations do not harm non-exporting companies. In fact, they can benefit from future export opportunities. By studying US data, researchers found that reducing trade costs can increase export profits while decreasing domestic ones. Small non-exporters may lose value due to lower domestic profits, but larger ones can gain from the anticipation of future exports. On average, a 1% reduction in trade costs slightly reduces the value of non-exporters, but a significant portion of them actually gain value.