United States Trade Representative Susan C. Schwab has spoken out this week to announce the June 2008 export data, released on Wednesday, which show the continued strength of US exports in the global marketplace.
Goods and services exports during the first six months of this year were 18.8%
higher than in the same period in 2007, according to the most recent trade data
released by the US Department of Commerce.
“The strong growth of US exports reaffirms the international competitiveness
of American goods and services,” Schwab said, going on to add:
“The increase of US exports has provided much needed support to the health
of our economy.”
From the second quarter of 2007 to the second quarter of 2008, the US economy
expanded by 1.8%, with goods and services exports accounting for more than two-thirds
of that growth, according to US Department of Commerce data.
Imports of goods to the United States so far this year are 12.3% higher than
in the first six months of 2007, with more than half of the increase coming
from higher prices of imported petroleum products.
“To encourage further growth in our exports, Congress needs to act to
level the trade playing field for American workers, farmers, and entrepreneurs
in three key markets – Colombia, Panama, and South Korea,” Ambassador
Schwab continued, finishing:
“Upon the approval and implementation of these agreements, nearly all tariffs and other trade barriers to US goods and services exports to these markets will be lifted. Allowing this free flow of exports will create higher paying jobs for American workers and strengthen our economy. I look forward to continuing my work with Congress to get these agreements passed once it returns in September.”
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