Trade is Keeping the U.S. Afloat

Oct 1, 2008

From The Progressive Policy Institute's Trade Fact of the Week (with my bold):

In February 2008, for the first time in a decade, the LA port sent more containers out full than empty. Each month since it has done the same. In total, the port's data collectors recorded a jump from the 1.4 million full outgoing containers in 2006 (measured in TEUs) to 1.6 million in 2007; they may count 2 million this year. The same thing is happening at the other big container ports.
...
American factories are quickly finding new customers abroad. Their export totals jumped from $821 billion in 2006 to $910 billion in 2007, and should hit $1.06 trillion or so this year. Farm and services exports are rising just as fast, though smaller in dollar terms; together, the three sectors' export expansion accounts for all America's economic growth this year.

Controversial in sunnier times, trade is proving a stormy-weather friend.

Of course, trade is a friend on sunny, mostly sunny, and partly cloudy days too; the controversy has always been misguided.

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