Just over a year ago in his State of the Union Address, President Obama pledged to create 2 million jobs by doubling exports by 2015.
U.S. Commerce Secretary Gary Locke ? along with the President?s Export Council ? has been tasked with making this goal a reality. ?Last year we grew exports at 17 percent,? Locke tells Dan and Aaron in the accompanying video. ?As long as we increase exports about 14 percent per year?we will reach the President?s goal.?
Locke, just back from a high-tech trade mission to India with a delegation of 24 U.S. businesses, is fairly confident that the pace of U.S. exports will continue to grow, but it is not going to be easy. ?We gotta keep at it,? he says. ?Only one percent of U.S. companies export, and of that one percent 58-60 percent export to only one country, typically Canada or Mexico.?
With unemployment hanging above 9 percent longer than any time since the Great Depression, the Obama administration is set on trying to create jobs any way it can.� ?The more that companies export the more that they produce. The more they produce the more workers they need. And, that means jobs.?
Not only is there a lot of potential for U.S. behemoths like GE and Boeing to sell products in countries like India, there are also great opportunities for small- and medium-sized U.S. businesses to sell products overseas, but, it is not always as easy, he says.
To help the little guys, yesterday Locke and U.S. Trade Representative Ron Kirk kicked off the Export Council?s new ?exports road show? called New Markets, New Jobs to help small- and medium- sized businesses across the country navigate their products into foreign markets.
Free Trade Stigma
In the last decades, the U.S. has signed a number of free trade agreements ? like NAFTA and CAFTA ? which have been hailed as U.S. job killers as companies shipped thousands of jobs -- not goods -- overseas.� But, the Obama administration is adamant that FTAs will spur U.S. export growth and lead to job creation in this country.�
Up until now there has not been the political will to push through three trade deals in particular.� The FTAs with South Korea, Panama and Colombia have been on the table for years waiting for Congressional approval.
But, time is of the essence, says Locke. There is an abundance of competition from other countries vying for the same business in foreign markets.� ?Right now U.S. products and services face these incredible barriers,? says Locke in regard to the South Korean trade deal which is pending congressional approval.� ?The trade agreement lowers the barriers and it will make it easier for American companies to sell made in the U.S.A. goods and services into Korea providing tens of thousands of jobs for America here at home.?
Made In America?
Yes, if you've been wondering, America does still make a few things for which the world is ?hungry? for, Locke says. ?There is a great desire all around the world. They would prefer to buy things made in the U.S.A. because they know that it is a superior product.?
India is one key place that is hot for our goods these days. According to a Commerce Department press release, the U.S. exports to India totaled $17.6B in the first eleven months of 2010, up 17 percent from the same period the year before.
You can bet the administration has its sights set on India, which saw 9.7 percent growth last year and does not show any signs of slowing.
Do you agree with President Obama that free trade agreements will help create jobs in this country?
Editors Note: Check out part one of this interview here.
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