Thursday, January 28, 2010

President Sets Goal to Double Exports by 2015

President Barack Obama has set a national goal of doubling United States exports within the next five years in an effort to shore up the economy and create two million jobs.

"To help meet this goal," the President said Wednesday during his first State of the Union speech, "we're launching a national export initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security. "

The value of US exports totaled $1.4 trillion in the first 11 months of 2009, according to the latest federal government numbers.

The President also said that the US needs to seek out new markets aggressively, just as our international competitors do.

"If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores," Obama said. "But realizing those benefits also means enforcing those agreements so our trading partners play by the rules. And that's why we'll continue to shape a Doha trade agreement that opens global markets, and why we will strengthen our trade relations in Asia and with key partners like South Korea and Panama and Colombia."