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Blog Category: Trade

Secretary Locke Meets with Korea's Minister of Knowledge Economy, Signs Memorandum of Understanding

Secretary Locke and Minister Lee are pictured signing document with U.S. and South Korean flags in background. Click for larger image.

U.S. Commerce Secretary Gary Locke hosted a meeting and signed a Memorandum of Understanding (MOU) on commercial cooperation with Korea’s Minister of Knowledge Economy Mr. Lee Youn Ho at the Commerce Department today. This was the first meeting between the Secretary and Minister Lee. Secretary Locke and Minister Lee confirmed the importance of further strengthening the U.S.-Korea commercial relationship and continuing to deepen cooperation on trade and investment issues. (More)

Secretary Locke Statement on May 2009 Retail Trade Numbers

Photo of Secretary Locke.

File Photo

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the May 2009 U.S. Retail and Food Services Sales. Today’s report showed that U.S. nominal retail sales rose 0.5% in May. Motor vehicle and parts sales also rose 0.5% in May. Gasoline sales increased 3.6%, partly reflecting the renewed rise in prices, while other sales edged up 0.1%. “Today’s numbers reflect improving consumer confidence. The Recovery Act is making life a little easier for families and businesses, and there are early signs of progress across the country. But May sales are still below their first-quarter average, reminding us of how difficult the economic environment remains.” (More) (Report)

U.S. Commerce Secretary Gary Locke Statement on Trade Numbers

U.S. Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the April 2009 U.S. International Trade in Goods and Services that showed that U.S. exports decreased by 2.3 percent to $121.1 billion since March 2009. Imports decreased 1.4 percent to $150.3 billion. Overall, the trade deficit grew 2.2 percent during the same time period. “Today’s numbers remind us just how challenging the world economic environment is.That’s why it’s important we continue supporting American businesses by removing trade barriers and encouraging other countries to resist protectionist impulses.” (More)

Secretary Locke Hosts Meeting of U.S. Travel and Tourism Board

Secretary Locke (center) with participants. Click for larger image.

Commerce Secretary Gary Locke hosted his first meeting with the U.S. Travel and Tourism Advisory Board (TTAB). Board members presented their recommendations regarding airport congestion, travel facilitation and the economic sustainability of the travel and tourism industry. “At Commerce, we’re working closely on tourism development with trade associations, destinations, and industry leaders,” Locke said. “We are tracking the industry because of its importance to the U.S. economy and understand the stress it is currently experiencing. I look forward to working with the Travel and Tourism Advisory Board to restore growth to this important sector.” (More)

Secretary Locke Meets with Mongolia's Minister of Foreign Affairs and Trade Batbold

Secretary Lock And Minister Batbold seated in chairs by a fireplace. Click for larger image.

U.S. Commerce Secretary Gary Locke hosted a meeting with Mongolia's Minister of Foreign Affairs and Trade Sukhbaatar Batbold at the Commerce Department. This was the first meeting between Minister Batbold and Secretary Locke. Secretary Locke and Minister Batbold pledged to continue to develop U.S.-Mongolian trade and economic relations."The Commerce Department looks forward to working with Mongolia's Ministry of Foreign Affairs and Trade to further strengthen our commercial ties," Secretary Locke said. (More)

Secretary Locke Meets with Singapore's Minister of Trade and Industry Lim

Secretary Locke and Minister Lim shaking hands in front of their countries' flags. Click for larger image.

U.S. Commerce Secretary Gary Locke hosted a meeting with Singapore’s Minister of Trade and Industry Lim Hng Kiang at the Commerce Department today. This was the first meeting between Minister Lim and Secretary Locke. Secretary Locke and Minister Lim expressed a commitment to strengthening an already robust bilateral commercial relationship, grounded in the extremely successful U.S.-Singapore Free Trade Agreement (FTA). Since implementation of the FTA in January 2004, two-way trade between the United States and Singapore has increased 41 percent, with U.S. exports increasing nearly 74 percent over the same time period. (More)

Commerce Secretary Locke Meets with Mexico's Secretary of Economy Mateos

Secretary Mateos and Secretary Locke seated in front of fireplace talking. Click for larger image.

U.S. Commerce Secretary Gary Locke hosted a meeting with Mexico’s Secretary of Economy Gerardo Ruiz Mateos at the Commerce Department. This was the first meeting between Secretary Ruiz and Secretary Locke.Secretary Locke and Secretary Ruiz highlighted the importance of our bilateral trade relationship and the need for continued cooperation in strengthening our competitiveness in the region and removing impediments to trade. (More)

President Obama Proclaims World Trade Week

Official White House logo.

In a proclamation from the White House, President Barack Obama declared “World Trade Week is an opportunity to reaffirm the benefits of trade and to emphasize America's commitment to a global marketplace that creates good jobs and lifts up American families. The United States and our trading partners stand to gain when trade is open, transparent, rules-based, and fair, showing respect for labor and environmental standards. The United States is well-positioned to reap the benefits of trade. America is a leader in the global marketplace and ranks at the top of almost every measure of global competitiveness.” World Trade Week is May 17-23. (Presidential Proclamation) (Secretary Locke Remarks)

Secretary Locke Meets with Korea's Trade Minister Kim Jong-Hoon

Locke and Kim at conference table with aides. Click for larger image.

U.S. Commerce Secretary Gary Locke hosted a meeting with South Korea’s Minister for Trade Kim Jong-Hoon at the Commerce Department, the first meeting between Minister Kim and Secretary Locke. Locke and Kim recognized the importance of the $83 billion in goods trade between the two countries in 2008. They expressed support for continuing to deepen cooperation on trade and investment issues. “Korea, with a $1 trillion economy, is our eighth largest export market, and the Department of Commerce is committed to ensuring that U.S. companies can compete and win in this vibrant Asian market,” said Secretary Locke. (More)

Secretary Locke Statement on March 2009 Trade Numbers

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the March 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports decreased by 2.4 percent to $123.6 billion since February 2009. Imports decreased 1.0 percent to $151.2 billion. Overall, the trade deficit grew 5.5 percent during the same time period. “Today’s numbers are better than many economists predicted, and it’s worth noting that the trade deficit is half of what it was in the first quarter of 2008.” (More) (Fact Sheet)