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The Latest From The Commerce Blog

U.S. Commerce Secretary John Bryson Delivers Remarks to Steel Manufacturers Association

Submitted on May 15, 2012 - 5:45pm
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This afternoon, Commerce Secretary Bryson delivered keynote remarks at the Steel Manufacturers Association (SMA) 2012 Annual Members conference, where he discussed the importance of the steel industry and the Administration’s efforts to support U.S. manufacturers.

As the Secretary said, this Administration understands the importance of supporting U.S. manufacturers. When President Obama came into office, the United States was at risk of losing over 1 million auto industry jobs. The ripple effect on the supply chain would have been devastating, potentially eroding the U.S. manufacturing base and driving the economy from a deep recession into depression. Instead, due to the President’s leadership, the auto industry survived and is now thriving, adding more than 200,000 jobs over the last two-and-a-half years.

There is an inextricable link between America’s ability to produce and America’s ability to innovate, compete and create jobs. Manufacturing is responsible for 70 percent of U.S. private sector R&D, 90 percent of patents, and 60 percent of our exports. In addition, the Commerce Department released a report just last week showing that manufacturing workers earn pay and benefits about 17 percent higher than other workers.

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NOAA: April Global Temperatures are Fifth-Warmest

Submitted on May 15, 2012 - 5:30pm
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Most of the globe's land areas experienced warmer-than-average temperatures, resulting in the second-warmest April land temperature, behind 2007 (Credit: NOAA Visualization Lab)

La Niña ends; neutral conditions return over equatorial Pacific Ocean

According to NOAA scientists, the globally-averaged temperature for April marked the fifth warmest April since record keeping began in 1880. April 2012 also marked the largest departure from the 20th century average temperature in more than a year.

La Niña, typically associated with cooler global temperatures, dissipated and transitioned to neutral conditions during April as sea surface temperatures continued to warm across the equatorial Pacific Ocean. According to NOAA's Climate Prediction Center, neutral conditions are expected to continue through the Northern Hemisphere's summer.

April analysis

U.S.-Colombia Trade Promotion Agreement Now in Force!

Submitted on May 15, 2012 - 3:00pm
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Colombian porches superimposed on map of Colombia

Ed Note: The following is a cross-post that originally appeared on ITA's blog, "Tradeology."

Christopher Blaha is a Senior International Economist within the Office of Trade and Policy Analysis and Julie Anglin is the Colombia Desk Officer within the International Trade Administration.

Today more than 80 percent of U.S. exports of consumer and industrial products to Colombia become duty-free as part of the U.S.-Colombia Trade Promotion Agreement. This includes agricultural and construction equipment, building products, aircraft and parts, fertilizers, information technology equipment, medical scientific equipment and wood. Also, more than half of U.S. exports of agricultural commodities to Colombia become duty-free, including wheat, barley, soybeans, high-quality beef, bacon and almost all fruit and vegetable products.

The agreement also provides significant new access to Colombia’s $180 billion services market, supporting increased opportunities for U.S. service providers. For example, Colombia agreed to eliminate measures that prevented firms from hiring U.S. professionals, and to phase-out market restrictions in cable television.

Prior to the enactment of this agreement, the average tariff that U.S. manufactured goods faced entering Colombia was 10.8 percent. With entry into force today, Colombia’s average tariff rate for manufactured goods from the United States has been reduced to 4 percent.

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