Posted at 10:54 AM
Today, the U.S. Department of Commerce released the 2016 National Export Strategy (NES), a report that details the U.S. government’s efforts to help U.S. companies conduct business abroad. The document serves both as a review of results and as a path forward, highlighting how U.S. businesses and workers have benefited during the past eight years.
“Demonstrated through reports like the National Export Strategy, the U.S. government remains committed to supporting American businesses and jobs through trade opportunities,” said U.S. Secretary of Commerce Penny Pritzker. “More than 95 percent of global consumers and 80 percent of global purchasing power reside outside the United States. The strategy outlines the potential for American exporters to capitalize on these opportunities by selling their goods and services worldwide.”
The NES further describes in detail how U.S. trade promotion agencies assist companies to increase global sales, create local jobs, and therefore grow the American economy; and how these agencies provide American businesses with tools, services, and resources for every phase of the exporting journey. Under the National Export Initiative - NEI/NEXT, exports fueled a quarter of post-recession economic recovery. As of 2015, exports supported an estimated 11.5 million jobs in the United States, representing almost 10 percent of U.S. private-sector employment.
As detailed in the report, the five major areas that the U.S. Government will continue to focus on include:
- Connecting American businesses to the global consumer
- Making international shipments more streamlined and less expensive
- Expanding access to export finance
- Promoting exports and investment as a development priority for states and cities
- Opening additional markets and enforcing international trade rules and regulations
This strategy helps more U.S. companies sell their products and services worldwide to advance economic progress and promote job growth. Working together, can position America's workers and businesses for continued success in an increasingly integrated global economy.
For more information on the National Export Strategy, please visit http://trade.gov/publications/abstracts/national-export-strategy-2016.asp.