Today, Acting Deputy Secretary Rebecca Blank participated in an event in the Department of Commerce that thanked business leaders for their service in Industry Trade Advisory Committees while also noting that their hard work was greatly aiding the private sector to export in record numbers.
Blank told ITAC representatives that while traditional drivers of U.S. economic growth – like consumer spending – are currently facing headwinds, exports remain a vital avenue to get Americans back to work. ITACs, public-private partnerships managed by the Commerce Department and the U.S. Trade Representative, work tirelessly to help U.S. companies and employees across the country compete and win in the global economy by engaging business leaders in formulating trade policy.
A large part of the success that ITACs’ energies have created could be seen in September’s trade figures that were released by Commerce last month, Blank told the audience of roughly 100 ITAC members. In September, U.S. exports of goods and services increased by 1.4 percent to a record $180.4 billion since August. In fact, over the last twelve months, exports of goods and services totaled $2.05 trillion – leaving America 15.6 percent above the level of exports for the same period in 2009-10.
President Obama’s National Export Initiative, which aims to double U.S. exports by the end of 2015 supporting millions of jobs, is now in its second full year. Blank told the ITAC members that the Commerce Department and partner agencies are expecting the collaborative effort to only grow. Agencies are working with states, metropolitan areas and the private sector to help companies successfully export around the globe, she said. The NEI push assists local public-private organizations in developing customized plans to boost exports from businesses in their region – particularly focusing on urban centers – thereby helping smaller firms grow and hire more workers.
Michael C. Camuñez, Assistant Secretary of Commerce for Market Access and Compliance and Nicole Y. Lamb-Hale, Assistant Secretary for Manufacturing and Services also addressed the ITAC.
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