Filed under: Global Economy, International Trade, U.S. Government, Economy, This Built America
"Exports are creating jobs and strengthening our economy," U.S. Secretary of Commerce Penny Pritzker said . "We know that export-related jobs are good jobs, paying up to 18 percent more than non-export related positions."
Numbers are up across the board, as goods exports supported 7.1 million jobs last year -- an increase of 1 million jobs since 2009. Service exports increased roughly 700,000 jobs over that same time, increasing its total to 4.6 million jobs in 2014.
Pritzker said American businesses exporting goods and services are critical to the country's growth since 95 percent of the world's consumers are outside the U.S.
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"Enacting President Obama's trade agenda will open new markets to 'Made in America' goods, helping create even more jobs in communities across the country," she said in the report. "Now is the time for Congress to pass bipartisan trade promotion legislation, so we can implement new trade agreements that will help our businesses, workers and innovators compete on a level playing field and succeed around the world."
Through the last four decades, Congress has used trade promotion authority -- or "fast track negotiating authority" -- to pursue foreign trade agreements throughout the world. Measures often include domestic job support, relaxed export agreements and moves to create equal competition for agricultural businesses. The technique recently resurfaced for its potential role in the highly debated Trans-Pacific Partnership.
