President Obama met yesterday with his Export Council, an advisory committee of government and private-sector leaders that provide recommendations on trade and export policies. The President named several new manufacturing leaders to the PEC, which has 28 members:
- AES Corporation President and CEO Andrés R. Gluski,
- Lockheed Martin Corporation President and CEO Marillyn A. Hewson,
- Merck & Co. President Kenneth C. Frazier, and
- Pfizer Chairman and CEO Ian C. Read.
In his remarks, President Obama told the Council that U.S. exports have been one of the biggest bright spots in our economic recovery and reminded the world just how competitive we are. He also noted there is more the Administration and Congress can do to support exports, namely the completion of new trade agreements.
“Now, we can still do more when it comes to exports, and thanks in part to new trade deals that I’ve signed as well as obviously really great products and services that you’ve all designed, America now exports more to the rest of the world than ever before. We’re on track to export even more this year,” President Obama said in his remarks. “Last year, $1 billion in exports supported nearly 50,000 jobs — or 5,000 jobs in the United States. So for every billion dollars that we sell, that’s 5,000 new jobs right here in the United States.”
President Obama said his Administration is focused on keeping that momentum going by completing Trans-Pacific Partnership (TTP) negotiations as well as expanding our trade relationship with Europe with the Transatlantic Trade and Investment Partnership (TTIP). The United States currently has trade agreements with 20 countries, and those agreements have supercharged U.S.-manufactured goods exports. Our 20 FTA partners purchased nearly half of total U.S.-manufactured exports in 2012.
A new Brookings report released this month found that exports have had a significant positive impact on post-recession growth in the United States. “Export Nation 2013” found that exports drive more than half of the growth in the 100 largest metropolitan areas, and metro area manufacturing exports grew to record levels in 2012. Transportation equipment, petroleum and coal products, and computers and electronics accounted for nearly half of post-recession export growth in the top 100 metros.
Last year, exports hit a record $2.2 trillion. Nearly 10 million Americans across the country are employed in export-supported jobs, a 1.3 million increase since 2009. The NAM has been sharing manufacturers’ stories about the importance of exports to manufacturing with a new “Trade Toolkit” available online here.