TPA requires the executive branch to consult with Congress during trade negotiations while ensuring that agreements receive an up-or-down vote.
U.S. merchandise exports to Colombia surged by 20% in the last year.
Across the U.S., firms like Toyota, Siemens, and Embraer have been welcomed for the contributions they make to our economy.
U.S. multinational corporations generated nearly half (48%) of all merchandise exports in 2010.
Here are some possible trade agreements and bills to continue benefiting from imports.
Two-way commerce is a powerful engine for economic development, moving millions of people out of extreme poverty.
The increasingly competitive global economy has made access to imports especially vital for U.S. companies.
Half a century of trade liberalization has boosted the average American household’s annual income by about $10,000.
Last year, Export-Import Bank supported export sales that sustained nearly 255,000 American jobs at 3,400 companies.
Imports support more than 16 million American jobs.
Our southern neighbor is still emerging, or re-emerging, with an impressive economic renaissance over last few years.
President Obama set the goal of doubling U.S. exports within five years. It’s a good moment to ask: How are we doing?
The 16th round of negotiations is underway this week in Singapore, and U.S. Chamber members and staff are there to weigh in.
The U.S. will join with nearly 50 other countries to launch negotiations for the International Services Agreement.
It’s a done deal—Russia is now the 156th member of the World Trade Organization. But because of some unfinished business before the Congress, the United States is the one WTO member that won’t immediately reap the benefits of Russia opening its market, safeguarding intellectual property and investments, and strengthening the rule of law.
The U.S. won’t get the full benefits of Russia’s market-opening reforms unless Congress approves legislation establishing Permanent Normal Trade Relations with Russia.
With Russia’s accession to the WTO set for August, the U.S. can’t afford to wait.
If Congress fails to act, Russia will be free to deny U.S. workers, farmers, and companies the full benefits of its reforms.
Congress should approve Permanent Normal Trade Relations with Russia to ensure a level playing field for U.S. companies, workers, and farmers.
Trade is a two-way street — with benefits on both sides.
Trade has played a major role in improving living standards.
U.S. factories depend on imports.Keeping the cost of manufacturing inputs low is critical to the competitiveness of U.S. industry.
By stimulating competition in the marketplace and boosting productivity, imports raise American families’ purchasing power and help them stretch their budgets. They literally make us richer.
Millions of Americans work in sectors that are dominated by imports.
More than any other industry, U.S. aerospace firms have relied on Ex-Im to help them compete with foreign rivals.
Congress must act for U.S. companies to reap the benefits of Russia's accession to the World Trade Organization. Permanent Normal Trade Relations
We need to seize the day and craft a bold new agenda to boost trade and create jobs.
At the heart of these concerns lies the high regard that lawmakers and business share for the Office of the U.S. Trade Representative.
The Chamber joined major business organizations representing small, mid-sized, and large companies in sending a letter to Capitol Hill urging Congress to reauthorize the Ex-Im Bank.
Zoellick oversaw a record $247 billion of World Bank support in the key areas of infrastructure, the private sector, agriculture, social safety nets, education, health, and the environment.
Two years ago, call to double U.S. exports in five years came from both the U.S. Chamber and President Obama. The 2011 trade numbers are in. How are we doing?
The U.S. Chamber’s efforts to build support for an ambitious Transatlantic Economic and Trade Pact are gaining traction.
Unemployment is the biggest challenge we face today. But to cure the disease, we first need a correct diagnosis.
The Chamber this week joined with more than 80 business and agricultural associations to send a letter to the president opposing moving USTR into a huge new bureaucracy.
This evening, President Obama is sure to reflect on the goal he set in his State of the Union address two years ago to double U.S. exports within five years. But with two of these five years already behind us, how are we doing?
We would welcome a chance to learn about what possible synergies have been identified that could be tapped in a possible reorganization, and to support meaningful efforts to improve the efficiency of U.S. government trade efforts.
More than two years ago, the U.S. Chamber called for a national goal to double U.S. exports in the next five years. We were pleased President Obama echoed that goal in his State of the Union address the following January.
Increasing U.S. exports of goods and services can play a vital role in gene
Bruce Stokes, one of Washington’s most closely followed commentators on international trade, profiles the opportunities that enhanced trade ties to Europe could present in his “Balance of Payments” column on www.nationaljournal.com:
The U.S. economy needs jobs. Given Washington’s budgetary constr
Today President Obama signed the trade agreements with South Korea, Colombia, and Panama into law, signaling a victory for American workers, American competitiveness, and American leadership.
It was a long, tough road to win passage for these trade agreements, but the business community never ga
The Economic Policy Institute (EPI) has issued the latest version of their study entitled “Growing U.S. trade deficit with China cost 2.8 million jobs between 2001 and 2010.” As in the past, EPI has employed a flawed approach that equates exports with job gains and imports with job losses.
In sho
Ambassador Charles T. Manatt, 75, passed away on July 22 in Richmond. The California-born attorney served as Chairman of the Democratic National Committee in the early 1980s and as co-chairman of Bill Clinton's presidential campaign.
Obituaries have focused on Manatt’s political leadership, parti
Canadian Prime Minister Stephen Harper is in Colombia today on what the Globe and Mail is calling a “victory lap” ahead of the entry-into-force this coming Monday (August 15) of the Canada-Colombia Free Trade Agreement.
The two countries have negotiated an excellent agreement that will give their
Today, the U.S. Global Leadership Coalition released a new report underscoring the importance of the U.S. International Affairs budget to helping American businesses grow and create jobs here at home.
This new report, entitled “U.S. Global Leadership: A Strategic Investment in U.S. Jobs”, was cra
The U.S. Chamber of Commerce welcomed today’s approval of the pending trade agreements with Korea, Colombia, and Panama in the “mock” markups held by the Senate Finance and House Ways and Means Committees.
After years of delay, today marks a decisive step toward approval of these vital agreements
For the American trade agenda, it’s later than you think.
In Seoul, it’s already July 1, and the European Union-Korea Free Trade Agreement is entering into force. As the Wall Street Journal points out, American workers and farmers are now facing a sharp competitive disadvantage in a key export ma
House Ways and Means Committee Ranking Member Sander Levin (D-MI) announced today that he will oppose the U.S.-Colombia Trade Promotion Agreement, which is expected to come before Congress this summer. While the announcement is disappointing, Levin’s position is by no means representative of senti
Last week the AFL-CIO launched a campaign “to try and stop the pending trade deal between the United States and Colombia,” The Hill reported.
It turns out that the AFL-CIO isn’t just using out-of-date statistics in this campaign — even the photograph in their ad published last Wednesday is more t
The AFL-CIO is launching a campaign “to try and stop the pending trade deal between the United States and Colombia,” The Hill reports. But is the AFL-CIO accurately portraying the Colombia of today?
The AFL-CIO charges: “Colombia remains the deadliest country in the world for trade unionists stru
The Chamber is intensifying our push towards successful passage of the pending trade agreements with Colombia, Panama, and South Korea with today’s unveiling of our new website TradeSupportsJobs.com.
This first-of-its-kind site provides an unprecedented amount of information on exports and the
by John Murphy
Earlier this month, the Economic Policy Institute issued its latest “study” on how U.S. trade agreements supposedly cost the United States jobs. The Chamber pointed out a number of its errors earlier.
But when the Memphis, Tennessee, Commercial Appeal ran a story on the study, Mike
As the debate over the pending trade agreements with South Korea, Colombia, and Panama heats up this year, some of the perennial arguments against trade agreements are being heard anew. Let’s look at the charges and the facts:
Myth 1: Free trade agreements (FTAs) add to the U.S. trade deficit.
This morning, U.S. Trade Representative Ron Kirk sent a letter to Congress indicating the administration is ready to engage in technical talks on the U.S.-Colombia Trade Agreement. The move confirms that the action plan clinched by President Obama and Colombian President Juan Manuel Santos last mo
That’s the number of American companies that currently export to Panama. A whopping 7,275 of those are small and medium-sized businesses. The Chamber is running two trade ads today, the first in Roll Call, making that point and urging approval of the U.S.-Panama trade agreement.
U.S. Trade Repres
After the administration signaled it’s ready to move forward on a trade agreement with Panama, all three pending FTAs are now ready for action on the Hill. This is a chance to level the global playing field for U.S. businesses and create jobs here in America.
But these job-creating agreements ar
With the U.S. Bureau of Economic Analysis (BEA) announcing February’s U.S. export and import numbers today (U.S. exports reached $165.1 billion and imports $210.9 billion), it’s worth calling attention to last week’s release of World Trade Organization (WTO) statistics that answer the perennial q
Today, the Chamber spearheaded a bipartisan letter signed by 27 former senior U.S. government officials calling for action on the Korea-U.S. Free Trade Agreement (KORUS) as well as the trade agreements with Colombia and Panama.
The letter to House and Senate leadership includes signatories that r
As White House Press Secretary Jay Carney promises movement on the U.S.-Colombia trade agreement “Sooner than later" (subscription required) , Senators John Kerry and Max Baucus write that Colombia is a “Different kind of jobs bill.”
Also, seven New Democrats sent a letter to President Obama on F
There was a lot of action this week on the trade front, and the U.S. Chamber was right in the thick of it. The week kicked off with the Chamber leading a grassroots mission to Central Florida with Korean Ambassador Han Duk-soo, Congressman Dan Webster, and an array of local businesses. The effor
Check out this great video from the U.S. Department of Commerce about how a major contract in Panama’s canal expansion saved a Chicago company hammered by the recession.
Some critics have disparaged the pending U.S.-Panama Free Trade Agreement, claiming the Panamanian market is too small to be
Doug Oberhelman, chairman and CEO of Caterpillar, will testify tomorrow before the House Ways and Means Trade Subcommittee on behalf of the Chamber. He will deliver a clarion call for approval of the pending free trade agreements with Panama (the primary focus of the hearing), Colombia, and Korea.
The drumbeat for action on trade continues this week with several hearings on Capitol Hill. I’m testifying today before the House Committee on Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade hearing entitled “Made in America: Increasing Jobs through Exports and Trade.” Two ot
With the trade agenda condemned to legislative purgatory for the past several years, the new Congress is helping U.S. Trade Representative Ron Kirk find his way to Capitol Hill quite often in 2011. A month after presenting the administration’s trade agenda to the House Ways and Means Committee, K
The U.S. Department of Commerce recently released the full data for U.S. exports and imports of goods and services in 2010. The Chamber has prepared a handy overview of the official data. The charts are worth reviewing, but here are a few observations.
Doubling Exports: U.S. exports of goods a
The answer: Lots of people. The Chamber is delighted that the Korea-U.S. Free Trade Agreement (FTA) is winning broad support; President Obama will reportedly speak about this important accord in tonight’s State of the Union address.
However, less attention has been given to the growing support for
The U.S. Chamber of Commerce is delighted to host today the launch of the U.S. Export-Import Bank’s new "Global Access for Small Business" program. This initiative is dedicated to dramatically increasing the number of American small businesses exporting goods and services.
This afternoon, our CEO,
by John MurphyU.S. Chamber President Tom Donohue issued the following statement regarding the administration's release of a proposal to resolve the U.S.-Mexico cross-border trucking dispute:
"Today's news that the administration is taking a first step toward resolving the long-running U.S.-Mexico t
This article was originally posted at Chamber Post.
As the 112th Congress begins today, it’s important to remind lawmakers--notably the large freshmen class--that international trade and investment are critical to America’s prosperity. But don’t just take our word for it, look at the numbers. He
As the 112th Congress begins today, it’s important to remind lawmakers--notably the large freshmen class--that international trade and investment are critical to America’s prosperity. But don’t just take our word for it, look at the numbers. Here, with apologies to Letterman, are the top ten reason
Selling Christmas trees to Mexico--it seems like a perfect example of how nations can mutually benefit from trade. Mexico has a lot of people who celebrate Christmas, but not a lot of conifers; the U.S. has a great climate for growing conifers; the shipping distances are not very far; and we’ve got
by John MurphyThe White House announced today that U.S. Chamber Executive Vice President and Chief Operating Officer David Chavern has been appointed to the President's Advisory Committee for Trade Policy and Negotiations (ACTPN). The committee is the senior-most body of the federal trade advisory c
by John MurphyThree years and a half years ago, the United States and Panama signed a bilateral trade agreement that promises jobs and opportunities for American workers and farmers. Unfortunately, the accord has been gathering dust ever since, and those jobs and opportunities have gone to other cou
Tomorrow, the U.S. Chamber-affiliated U.S.-India Business Council (USIBC) will host the "U.S.-India Business & Entrepreneurship Summit" featuring President Obama in Mumbai. This is an exciting moment for the USIBC and for the U.S.-India economic relationship.
The summit is part of the USIBC's Novem
Updated 10:00am November 3 with additional results--see below.
As the dust settles from Tuesday’s election, one conclusion is clear: the midterm election was not about trade.
Some candidates, mostly Democrats, tried to win votes by tapping into anxiety about trade with China, "offshoring," and trad
Update: This story, also from The Wall Street Journal, leads off with the dramatically simple statement, "The rescue of the Chilean miners is a smashing victory for free-market capitalism."
The dramatic rescue now underway of 33 Chilean miners trapped deep underground since August 5 has capture
by John MurphyHouse Ways and Means Chairman Sandy Levin (D-Mich.) and Rep. Tim Ryan (D-Ohio) will be speaking to the press today about "continued efforts by Democrats to prevent the outsourcing of jobs," The Hill reports. Also today, the AFL-CIO is releasing a database that purports to identify comp
After months of delay, this week the House and Senate approved implementing legislation for the U.S.-United Kingdom and the U.S.-Australia Defense Trade Cooperation Treaties, followed by Senate ratification of the treaties themselves.
For over a year, the U.S. Chamber has urged that the treaties be
A year ago this month, Chamber President Tom Donohue called for a national goal to double U.S. exports within five years in a major address to the Michigan Chamber of Commerce in East Lansing. President Obama embraced this goal in his State of the Union address in January.
With that goal and Mich
Doug Oberhelman, CEO of Caterpillar has a great piece in the Chicago Tribune:
Big business has become an easy target for politicians who love sound bites about "the decline of American manufacturing." This rhetoric is counterproductive and could lead to dangerous policies that could harm the compe
Public Citizen’s Global Trade Watch (GTW) has issued its latest trade "study," and as so often before, it takes on the Chamber. However, while everyone’s entitled to their own opinions, no one is entitled to their own statistics.
In one prominent claim, the report asserts that “as of 2009, the Unit
Alan Beattie at the FT has an interesting piece on the opportunities and, in his view, perils of export promotion. He concurs that boosting exports can create jobs, and observes:
Indeed, it is service-sector exports themselves that show most promise, including often-forgotten contributions to the
Tomorrow, Colombian President Alvaro Uribe will leave office, and his successor, Juan Manuel Santos, will be inaugurated. Santos was elected on June 20 with an astonishing 69% of the popular vote, not least because the former defense minister has pledged to continue many of Uribe's policies.
U.S.
Addressing the AFL-CIO today, President Obama said: “For generations, manufacturing was the ticket to a better life for the American worker. But as the world became smaller, outsourcing, an easier way to increase profits, a lot of those jobs shifted to low-wage nations… We are going to rebuild this
Third Way has a new report out on How Export Barriers Cost America Jobs, with a specific focus on “non-tariff barriers.” It’s a thoughtful report, and it echoes many points the Chamber made last May in our State of World Trade. Here is their section on trade agreements:
There’s a new global arms r
The World Trade Organization (WTO) today issued its World Trade Report 2010, an annual publication that offers definitive statistics on international trade. In recent months, media reports have widely described China as the world’s largest exporter, but today’s report indicates that the United Sta
Why does the United States levy tariffs on imported goods that U.S. manufacturers and consumers need...but that aren't even produced domestically?
On June 28 I wrote that Congress has been unable to move the Miscellaneous Tariff Bill (MTB). According to a Key Vote letter sent by the U.S. Chamber t
As the President’s Export Council meets today, officials are reporting that the United States is on track to meet President Obama’s goal of doubling U.S. exports within five years.
The U.S. Commerce Department recently reported that “U.S. goods and services exports in the first four months of 201
In his State of the Union address last January, President Obama set the goal of doubling U.S. exports within five years. The Chamber applauded this goal because, in our estimation, boosting exports is one of the best avenues to creating the 20 million jobs Americans will need over the next decade.
// 20 July 2010 update here.
Here's an interesting question: Why does the United States levy tariffs on imported goods that U.S. manufacturers and consumers need...but that aren't even produced domestically? It may not make sense, but it happens all the time:
Exhibit 1: Congress has been unable to
Richard Trumka is "deeply troubled." So declares the president of the AFL-CIO in a statement issued today on the "U.S.-Columbia [sic] Free Trade Agreement." As readers of these columns know, this accord would create good American jobs, bolster an important ally, and confirm that America is unwillin
by John Murphy
Dartmouth economist Douglas Irwin, one of the country’s leading historians of trade, has a great piece in the Wall Street Journal today on “How ‘Protectionist’ Became An Insult.” Irwin notes June 17 was the 80th anniversary of the Smoot-Hawley tariff, which
slashed U.S. dutiable imp
U.S. Wheat Associates has released a new study showing that trade agreements directly increase U.S. agricultural exports, farm gate prices, and job growth. However, the study also underscores that U.S. farmers risk losing out in foreign markets while Washington hems and haws over pending trade agre
Since it is graduation season, time for a Thomas Sowell classic on free enterprise:
Every year about this time, big-government liberals stand up in front of college-commencement crowds across the country and urge the graduates to do the noblest thing possible — become big-government liberals. That
In a speech at the National Press Club last Friday Chamber president and CEO Tom Donohue unveiled an economic impact study of Free Trade Agreements entitled “Opening Markets, Creating Jobs.” It found that 17.7 million American jobs depend on trade with 14 countries with which we have FTAs. Of this
To show the benefits of America's trade agreements for U.S. workers, the U.S. Chamber commissioned a study entitled Opening Markets, Creating Jobs: Estimated U.S. Employment Effects of Trade with FTA Partners. It found nearly 18 million U.S. jobs depend on trade with America's free trade agreement
As Stefanie noted yesterday "one in three acres on American farms is planted for hungry consumers overseas." And there is room to, if you will pardon the pun, grow -- let's have a look:
"There’s no such thing as a ‘time out" in international trade," said Don Butler, immediate past president of th
On March 23, the Economic Policy Institute (EPI) issued a study entitled “Unfair China Trade Costs Local Jobs.” As in the past, EPI has employed a flawed approach that equates exports with job gains and imports with job losses.
In short, the world isn’t that simple. Reflecting a zero-sum game menta
This article, in the Washington Post today with the rather distressing headline “Obama’s export plan won’t necessarily create jobs,” opens with:
The Obama administration’s effort to boost employment by promoting U.S. exports may be undercut as business owners find ways to increase production witho
Here is our plan to double exports in the next five years and here is a spot on commentary from James Bacchus, intro and three clips:
President Obama has promised to create 2 million new jobs by doubling exports from $1 trillion to $2 trillion during the next five years.
...To keep his word he nee
Tomorrow, March 10, marks the first anniversary of the vote in Congress that brought the U.S.-Mexico cross-border trucking pilot project to an abrupt halt. In response to Congress’s action a year ago, Mexico imposed tariffs on 90 U.S. manufactured and agricultural products, largely shutting out $2.
Today the Chamber-affiliated Association of American Chambers of Commerce in Latin America (AACCLA) is hosting its annual Miami Meeting, with representatives of the hemispheric business community flying in to discuss next steps for our pro-jobs, pro-growth business agenda for the Americas.
These in
Multiple news outlets are reporting that China overtook Germany to become the world’s largest exporter in 2009. However, several of those reports fail to indicate they’re talking about merchandise trade, which is mostly manufactured goods but also includes petroleum, raw materials, and so on. The
U.S. Trade Representative Ron Kirk today notified Congress that the United States will enter negotiations for the Trans-Pacific Partnership (TPP) Agreement, a new trade accord with a number of Asia-Pacific economies that could greatly benefit American workers, farmers, and companies. The U.S. Chamb
Let’s see if I’ve got this right. James Hoffa of the Teamsters writes in the Detroit News that "America built the biggest, strongest economy ever behind a wall of protectionism. We nurtured infant industries through tariffs and subsidies. We need to be doing that again."
Let’s look at the largest s
As President Obama and other leaders gather for the Asia-Pacific Economic Cooperation (APEC) summit this week in Singapore, America’s failure to advance a trade agenda that is pro-growth and pro-jobs is attracting new attention.
In an excellent editorial this morning, the Wall Street Journal warns
by John Murphy As we move forward with our economic recovery I see a lesson as we look back at the former West Germany and East Germany. For nearly half a century, the industrious and intelligent German people were divided between one state where free enterprise and political liberty held sway — and
Reuters has this piece on President Obama speaking out on trade:
U.S. President Barack Obama warned on Monday that more U.S. job losses lay ahead despite a turnaround in the economy, and he called for a new “post bubble growth model” with greater focus on U.S. exports. “If Germany, a wealthy, high
Philip Levy posted the below to AEI's blog a few weeks ago:
The revised GDP numbers came out last week and things look a bit brighter, despite persistent unemployment. After the economy shrank at a –5.4 percent rate in the fourth quarter of 2008 and then at a –6.4 percent rate in the first quarter
Think you know where everyone stands on climate change legislation? Test your knowledge of where everyone stands on the proposal to impose tariffs on imports from countries that the United States says aren't limiting their own carbon emissions. Such provisions were included in the House-approved Wa
The Wall Street Journal reports that the "U.S. trade deficit unexpectedly narrowed for the first time in four months in August, with exports rising to their highest level of the year and imports easing despite higher oil prices."
Given how trade skeptics often argue that job loss can be ascribed di
Labor union's arguments against FTAs and BITs don’t square with the facts, but are they at least representing fairly the seven and a half percent of private sector workers who are their members? Let’s look at a few unions.
The SEIU has opposed every trade agreement you can name. Their two million m
// See this and this for background on labor and the American trade agenda.
What exactly are labor's arguments against FTAs and bilateral investment treaties, known as BITs? In testimony before the House Ways and Means Committee last May, Thea Lee described U.S. free trade agreements in this way:
Background here but in short, Labor's position is to allow foreign workers free access to our markets but oppose helping American workers by lowering tariffs on a reciprocal basis. Most U.S. labor unions have opposed nearly every trade agreement that has come down the pike since NAFTA -- whether ne
A complicated topic to be sure, for a little context it’s important to first ask: What should the U.S. trade agenda be?
Senior administration officials acknowledge that boosting exports will play a critical role in America’s economic recovery. The rationale is clear. The American consumer’s credit
John Murphy talks about the Chinese tire case and the larger risk of "Trade Action – or Inaction: The Cost for American Workers and Companies"
Tell Congress to get the show on the road.
While some evidence is emerging that the economic downturn is easing, the global trading system is under great stress. The U.S. Census Bureau's most recent reporting of trade data through June 2009 indicates a sharp decline in global trade over the past year.
Of America's 46 customs districts, "11
On August 10, President Obama met with Canadian Prime Minister Stephen Harper, who pressed him yet again to soften the regulations implementing the "Buy American" rules in last February’s economic stimulus package, known as the Recovery Act.
The president responded: "We have not seen some sweeping
The World Trade Organization (WTO) issued its World Trade Report 2009 yesterday, so we finally have the globally comparable data for 2008 to answer the question. It shows the United States remains the world’s largest exporter:
2008 Exports (in billions)
Country
Merchandise
Commercial Services
To
The AFL-CIO's blog yesterday took a shot at the U.S. Chamber in a post titled Chamber of Commerce Sides with Foreign Embassies Against Buy American. "There they go again," goes their lament. "Those running the show at the U.S. Chamber of Commerce are attacking again the Buy American provision in t
Yesterday, the U.S. Chamber of Commerce welcomed the Senate Finance Committee’s hearing on the U.S.-Panama Trade Promotion Agreement, calling it a critical step in efforts to spur economic growth at home and abroad. The fact that we don’t already have a trade agreement in place with Panama only pu
Today's Washington Post has an editorial ringing the alarm about "small signs of protectionism … popping up around the globe."
We have seen this with the "Buy American" provisions initially stuck into the stimulus bill, which President Obama wisely persuaded the Senate to alter, as well as restric
For years, labor leaders and activists calling for major changes in U.S. trade policy have fingered the trade deficit as the culprit behind job losses, particularly in the U.S. manufacturing sector.
This is a timely discussion. The monthly trade deficit has recently fallen to its lowest level in a
The U.S. trade deficit shrank 28% in February, narrowing to its smallest in more than nine years, the Wall Street Journal reported.
The Commerce Department reported today that U.S. exports climbed in February by 1.6% from the previous month, reaching $127 billion. Imports fell by 5.1%. A sharp glob
As representatives from the world’s leading economies gather for the G20 Summit on April 2, it’s worth remembering the last time London hosted a summit with the aim of reviving a slumping global economy and collapsing trade flows. As the BBC reminds us, "In June 1933, delegates from 66 countries ga
Former Dallas Mayor Ron Kirk was confirmed by the Senate today to be the 16th United States Trade Representative. There was no drama — his supporters won the vote by the lopsided margin of 92 to five. As Chamber President Tom Donohue said when his nomination was announced in December:
At a time
While the Senate has yet to confirm his nominees for U.S. Trade Representative and Secretary of Commerce, President Obama faced a statutory obligation to issue his 2009 "Trade Policy Agenda" this month, and he has done so. This roadmap makes it clear the administration intends to advance a strong
President Barack Obama will travel to Canada tomorrow, February 19, for his first foreign trip. One item on his agenda with Canadian Prime Minister Stephen Harper will be the North American Free Trade Agreement (NAFTA). The meeting follows a similar encounter with Mexican President Felipe Calderón
The U.S. Census Bureau and U.S. Bureau of Economic Analysis released their trade data for December 2008 yesterday, thus completing the picture for the year. Combined with agricultural data from the U.S. Department of Agriculture, it illustrates the ongoing importance of international trade to our e
Bob Davis warned today of the impact of protectionism on recovery, and the danger is quite real. But as Bruce Stokes noted last month – with my emphasis "It is possible to be a little bit protectionist without globalization coming to a screeching halt. History suggests that in recessions it is imp
A few Q3 trade facts, prepared by the U.S. Chamber based on data from the U.S. Census Bureau/Bureau of Economic Analysis
Exports have made the difference between slow growth and sharp recession for the U.S. economy over the past year. Net exports contributed 1.4% to GDP growth over the past four q
The SF Gate on trade:Finally, free trade comes up as an issue in the presidential election...But was that enough to get past the "talk to the hand" posture of interest groups -- mainly unions -- which have stalled action on Colombia and South Korean agreements in the Democratic-controlled Congress?
With the Colombian trade agreement once more in the news, I thought it might be a good time to review the situation.
Last year, the new Democratic majority in Congress sought additional protections for labor rights and the environment in trade agreements. The result was the bipartisan trade deal re
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
Today I had the pleasure of attending a luncheon, co-hosted by the U.S. Chamber and the Embassy of Panama, with His Excellency Martín Torrijos Espino, President of the Republic of Panama.
It’s been over a century now since the construction of the Panama Canal, and over thirty years since the signi
On the campaign trail this year, trade has been blamed for a wide variety of economic woes. But in reality, trade is giving a huge boost to the U.S. economy in this election year. Here are the Top Ten Overlooked Facts About Trade for 2008:
Exports generated two-thirds of U.S. economic growth over
Last February, Congress approved a $168 billion stimulus package to help the flagging U.S. economy. Today, some members of Congress are proposing an additional stimulus package with a price tag that could reach $50 billion. But awaiting Congressional action are three bills that together would pro
Trade was cast in the role of villain by some candidates in this year’s presidential primaries. This is nothing new: "We rail at trade," wrote Ralph Waldo Emerson more than a century ago, "but the historian of the world will see that it was the principle of liberty; that it settled America, and de
by John MurphyAround the globe, food prices have soared over the past few years. International prices for the most critical staples -- rice, wheat, and other cereals -- have doubled or tripled. Right on cue, some pundits have been quick to blame the "excesses" of the free market for these price hi
The United States now has a trade surplus in manufactured goods with its 14 free trade agreement (FTA) partners, the Commerce Department reported last week. That’s right: Free trade agreements are helping to shrink the U.S. trade deficit:
The U.S. trade surplus in manufactured goods with these 14
NAM's John Engler had a good piece in Industry Week on trade and energy, a quick summary:...The fact is, FTAs are enabling American manufacturers to more effectively compete in markets abroad. The manufacturing trade deficit with our FTA partners has narrowed from $41 billion in 2002 to less than $
In a push to secure an extension of the Andean trade preferences for Ecuador, Minister of Internal and External Security Gustavo Larrea is in Washington on a charm offensive this week. He argues that Ecuador should continue to enjoy duty-free access for its exports to the United States after Dec.
Today’s long, front-page Washington Post article "Sustaining the Medellin Miracle" does a great job of presenting Colombia’s turnaround in an accurate (and positive) fashion. It also explains how uncertainty about the trade agreement poses a real danger. "Why turn us away?" it concludes, quoting
A few thoughts on trade from founders and friends of the republic:
"Any nation which leaves all her ports open to the world on equal terms will have commodities cheaper, sell its own production dearer, and be on the whole most prosperous." — Benjamin Franklin
"Our interest will be to throw open the
In recent years, some politicians and pundits have charged that trade is harmful to the American worker. In short, these voices allege that trade has destroyed American jobs, undermined manufacturers, and pushed wages down. There is no need for lofty rhetoric in defense of trade, the facts, stati
Today Senator Sherrod Brown and Representative Mike Michaud introduced the Trade Reform, Accountability, Development, and Employment (TRADE) Act. The bill would create new bureaucratic requirements for reports on how trade agreements are affecting the U.S. economy.
But rather than create a new bure
In his Outlook piece “The Old Titans All Collapsed. Is the U.S. Next?,” Kevin Phillips foresees the "multi-decade endgame of U.S. ascendancy" and ascribes it to America’s "unhealthy reliance on the financial sector as the engine of its growth" coupled with the supposed shriveling of U.S. manufactur
President Bush has declared May 21 a "Day of Solidarity with the Cuban People" with the goal of promoting "peaceful democratic change in Cuba and show[ing] support for the Cuban people." A White House fact sheet notes:The day will focus on the plight of prisoners of conscience and the lack of civi
I have a Guest Observer op/ed in Roll Call today outlining the overwhelmingly strong case for the U.S.-Colombia trade agreement, which was shelved by the House of Representatives on April 10th. In doing so, Congress tossed aside Congressional rules dating back to 1974 that ensure an up-or-down vot
Over the past 12 months (Q2 2007 – Q1 2008), exports generated nearly half (48%) of all U.S. GDP growth. America’s booming exports of manufactured goods, agricultural products, and services are clearly helping offset weakness in the housing and financial sectors.
Background for calendar year 200
Chamber President and CEO Tom Donohue is at the Milken Institute Global Conference today where he will be participating in a panel entitled "NAFTA Under Assault: Reassessing Its Impact". Here are his opening remarks:
Let me start with a basic point - If NAFTA didn’t already exist, we’d have to inv
In the wake of this week’s North American Summit in New Orleans, CongressDaily reports on "a new analysis by the liberal-leaning Economic Policy Institute that said Pennsylvania has lost 222,000 manufacturing jobs since NAFTA was implemented." Not only does this study fail to show how NAFTA brought
Expressing strong support for the U.S.-Colombia Trade Promotion Agreement, the Chamber's Bruce Josten said yesterday:"For the sake of American workers and farmers, we must move forward on the Colombia trade agreement. Congress and the administration must redouble their efforts to find a way to sec
As the Washington Post reports, last Wednesday the Obama campaign made this statement:"I'm running for President because working families can't afford to wait another four years while the same old Washington players play the same old Washington game, while factories like the York Peppermint Patty p
Kenneth Duberstein, White House chief of staff for President Reagan, and Mr. Thomas McLarty, White House chief of staff for President Clinton, published a joint op-ed today in the Wall Street Journal on the importance of active engagement in the global economy to America's future properity. They t
David Sirota takes some serious liberties with the facts in his recent post on the trade agreement with Colombia.Sirota says: "…polls show this ‘free trade zone’ is unpopular in almost every country it encompasses." This is nonsense. I was just in Lima, Peru, where polls show that the recently ap
Rather than just respond to this comment, I thought I would go ahead and take care of some of the other misinformation which is out there.
MYTH: "… the current rate of murders [among labor union members] still places the country in a class of its own." - "Workers’ Rights, Violence and Impunity in C
For some politicians on the campaign trail, free trade is a bad word (well, two bad words). But how about a fair trade agreement?
As debate over the trade agreement with Colombia heats up, it’s surprising to learn that many Americans don’t know that the U.S. market is already wide open to imports.
We agree with the NY Times (Game of Chicken in the Andes) that the Andean Trade Preference Act (ATPA) has brought jobs and other real benefits to a strategic region. Trade really is the best kind of alternative development program. However, shouldn’t Congress fight for the trade interests of U.S.
Contrary to what some of the candidates are saying, Ohio is benefiting from trade and from the North American Free Trade Agreement (NAFTA) in extraordinary ways, and no one more than the state’s manufacturers. If they were forced to bid au revoir to the Canadian market, or adios to Mexico, Ohio wo
United Steelworkers Director of International Affairs Gerald Fernandez wrote in his recent entry “Colombia’s President Tacitly Supports Union Murders” on The Hill’s Congress Blog that the administration of Colombian President Alvaro Uribe is engaging in a “murderous rampage against innocent working
"The Hill" reports today: …this week a group of businesses wrote congressional leaders pleading for more support to block a 'private arrangement' between the sugar industries of the United States and Mexico that basically ignores the requirements of the North American Free Trade Agreement." In the
