free trade overview
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Free Trade Overview. Republican Policy Committee October 11, 2011. Myth No. 1 We don’t export anything. False: The U.S. is the world’s largest exporter. Agricultural Products $108 billion. Other Merchandise (fuels, minerals, etc.) $71 billion. Manufactured Goods $1.10 trillion. - PowerPoint PPT PresentationTRANSCRIPT
Free Trade OverviewFree Trade Overview
Republican Policy Committee Republican Policy Committee October 11, 2011October 11, 2011
False: The U.S. is the world’s largest exporter
Source: U.S. Department of Commerce
Total 2010 Exports: $1.83 trillion
Manufactured Goods$1.10 trillion
Services$543 billion
Agricultural Products$108 billion
Other Merchandise (fuels, minerals, etc.) $71 billion
Myth No. 1Myth No. 1We don’t export anythingWe don’t export anything
False: U.S. goods and services are popular
Source: U.S. Department of Commerce, 2008 merchandise exports
U.S. exports rose by
79% in five years (2003-2008)
Leading U.S. Export Markets
Myth No. 2Myth No. 2““Made-in-USA” doesn’t sellMade-in-USA” doesn’t sell
False: Exports are critical to small business
Source: U.S. Department of Commerce
In the past 15 years, the number of small businesses exporting has doubled
Their total export sales have tripled
Larger Exporters: 7,079 (3%)
Smaller Exporters: 281,668 (97%)
Larger Firms ($790b)
Smaller Firms ($360b)
No. of U.S. Exporters U.S. Merchandise Exports
Myth No. 3Myth No. 3Trade is just for big businessTrade is just for big business
False: The U.S. market is already wide open while many foreign markets have high tariffs
FTAs aren’t the problem—they’re the solution!
They create a level playing field by ending all tariffs—in both directions.
FTAs: 40.7% of U.S exports in 2010
Source: USTR
Myth No. 4Myth No. 4FTAs are unfair to workersFTAs are unfair to workers
Source: WTO
America Left BehindAmerica Left Behind
5752
45
17
No. of FTA Partner Countries 283 FTAs in force worldwide, U.S. has 17
100 FTAs under negotiation, U.S. participating in just one of these (TPP)
Europe and Asia moving ahead
Colombia, Panama, South Korea Good agreements signed many years ago Trade competitors/Loss of market share
The International Trade Commission estimates that implementation of the three export-opening trade agreements would increase U.S. exports by at least $13 billion and add $10 billion to U.S. GDP.
Using the Administration’s own measure, such an increase in U.S. exports could create 250,000+ American jobs.
Pending Trade AgreementsPending Trade Agreements
Christopher WenkChristopher WenkSenior Director, International PolicySenior Director, International Policy
U.S. Chamber of CommerceU.S. Chamber of Commerce
U.S. Chamber Trade Information Website:U.S. Chamber Trade Information Website:
www.tradesupportsjobs.com