Aaron Fobes, Julia Lawless (202) 224-4515
Americans Agree: Expanded Trade Helps Boost Economic Opportunity Here at Home
With top trade officials meeting in Hawaii this week to continue negotiations on the Trans-Pacific Partnership (TPP) trade agreement – one of the most ambitious trade negotiations in the United States’ history – more Americans are recognizing the benefits of expanded trade.
According to a new Gallup poll, the majority of Americans view trade as an opportunity to strengthen the American economy through increased U.S. exports.
Here is a quick look at how the nation’s trade agreement partners have helped to boost the economy here at home:
- According to the National Manufacturers Association, the U.S. has a $55 billion manufacturing trade surplus with its 20 existing trade agreement partners. Those countries purchase nearly half of all U.S. manufactured goods exports.
- Increased trade with these trading partners has supported 5.4 million American jobs, according the U.S. Chamber of Commerce.
- That same study found, agricultural exports to trade agreement partners jumped by more than 130 percent between 2003 and 2013 and that about 40 percent of all goods exported by American small businesses go to the nation’s trade pact partners.
- The center-left organization Third Way found that the balance of trade in goods improved in 13 of the 17 countries where the United States had secured agreements negotiated and implemented under Congress’ last renewal of Trade Promotion Authority.
- For those same 17 countries, Third Way noted trade in goods rose by more than $30 billion a year.
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