On March 11, 2010, President Obama established the Export Promotion Cabinet by Executive Order 13534 and tasked them with a plan to achieve the goal of doubling U. S. exports in five years that he had stated in his 2010 State of the Union address.<\/p>\n
Sixteen representatives from the Secretary of State down to the Director of the United States Trade and Development Agency were appointed to this Cabinet, but the final report<\/a>, released on September 15, 2010, was the product of an intensive six-month collaboration between this Cabinet and the 20 federal agencies that make up the Trade Promotion Coordinating Committee (TPCC).\u00a0 In addition, the TPCC Secretariat reviewed over 175 responses to a Federal Register notice requesting input to the National Export Initiative (NEI) from small, medium, and large businesses; trade associations; academia; labor unions; and state and local governments.<\/p>\n In 2008, U. S. exports represented records levels of GDP (12.7 percent) and supported over 10 million jobs (6.9 percent of fully employed workers).\u00a0 This was the highest percentage level of GDP since the beginning of World War I in 1914 and marked the high point of a 70-year trend that began in the early 1930s.\u00a0 However, exports fell from $1.8 trillion in 2008 to $1.57 trillion in 2009 during the recession.<\/p>\n The report states:\u00a0 \u201cThe National Export Initiative (NEI) is a key component of the President\u2019s plan to help the United States transition form the legacy of the most severe financial and economic crisis in generations to a sustained recovery \u2026The NEI\u2019s goal of doubling exports over five years is ambitious.\u00a0 Exports need to grow from $1.57 trillion in 2009 to $3.14 trillion by 2015.\u201d<\/p>\n The NEI has five components:\u00a0 improve advocacy and trade promotion, increase access to export financing, remove barriers to trade, enforce current trade rules, and promote strong, sustainable, and balanced growth.<\/p>\n The NEI Executive Order identified eight priorities for the plan, and the Export Promotion Cabinet developed recommendations to address each of these priorities, which cover all five components, cut across many Federal Government agencies, and focus on areas where concerted Federal Government efforts can help lift exports.\u00a0 The following are recommendations for each priority:<\/p>\n Priority 1:\u00a0 Exports by Small and Medium-Sized Enterprises (SMEs) \u2013 <\/strong>advocacy, promotion and export financing component<\/p>\n Priority 2:\u00a0 Federal Export Assistance \u2013 <\/strong>trade promotion component<\/p>\n <\/strong><\/p>\n Priority 3:\u00a0 Trade Missions <\/strong>\u2013 <\/strong>trade promotion component<\/p>\n <\/strong><\/p>\n Priority 4:\u00a0 Commercial Advocacy – <\/strong>trade promotion component<\/p>\n <\/strong><\/p>\n Leverage multiple agencies assistance in the advocacy process and extend outreach efforts to make more U. S. companies aware of the Federal Government\u2019s advocacy program.<\/p>\n Priority 5:\u00a0 Increasing Export Credit <\/strong>\u2013 export financing<\/p>\n <\/strong><\/p>\n Priority 6:\u00a0 Macroeconomic Rebalancing <\/strong>\u2013 strong, sustainable, and more balanced global growth<\/p>\n <\/strong><\/p>\n In the short term, the U. S. and its G-20 partners must work to ensure that the global economy shifts smoothly to more diversified sources of economic growth.\u00a0 Over the long term, shifts in the composition of economic growth in our trading partners will also be crucial to U. S. export growth.\u00a0 Actions to reduce surpluses and stimulate domestic demand for imports will be required by a broad range of countries.<\/p>\n Priority 7:\u00a0 Reducing Barriers to Trade <\/strong>\u2013 removing trade barriers and enforcing trade obligations components<\/p>\n <\/strong><\/p>\n <\/strong><\/p>\n <\/strong><\/p>\n Priority 8:\u00a0 Export Promotion of Services <\/strong>\u2013 advocacy and trade promotion components<\/p>\n There are four general themes that apply to all of the priorities and recommendations in order to achieve the goal of doubling the U. S. exports in five years:<\/p>\n The plan admits that the Federal Government alone cannot succeed in this initiative; its ultimate success will be determined by the success of U. S. companies selling their goods and services internationally.\u00a0 A continued dialogue with the business community will be required to help ensure that the NEI is addressing their export challenges.<\/p>\n On December 7, 2010, U. S. Energy Secretary Steven Chu<\/a> announced the establishment of the Renewable Energy and Energy Efficiency Export Initiative as part of its National Export Initiative and Trade Promotion Coordinating Committee.\u00a0 \u201cExpanding U. S. clean technology exports is a crucial step to ensuring America\u2019s economic competitiveness in the years ahead,\u201d said Secretary Chu.\u00a0 \u201cThe initiatives we are announcing today will provide us with a better understanding of the global clean energy marketplace and help boost U. S. exports.\u201d<\/p>\n The Initiative is divided into two parts:\u00a0 (a) an assessment of the current competitiveness of U. S. renewable energy and energy efficient goods and services and (b) an action plan of new commitments that facilitate private sector efforts to significantly increase U. S. renewable energy and energy efficient exports within five years.\u00a0 As part of the Initiative, the Administration created www.export.gov\/reee<\/a>, a web portal that consolidates information on government-sponsored export promotion programs.<\/p>\n The next article will examine whether or not the plan will work to achieve the stated goal.<\/p>\n","protected":false},"excerpt":{"rendered":" On March 11, 2010, President Obama established the Export Promotion Cabinet by Executive Order 13534 and tasked them with a plan to achieve the goal of doubling U. S. exports in five years that he had stated in his 2010 State of the Union address. Sixteen representatives from the Secretary of State down to the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-117","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/comments?post=117"}],"version-history":[{"count":2,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/117\/revisions"}],"predecessor-version":[{"id":119,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/posts\/117\/revisions\/119"}],"wp:attachment":[{"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/media?parent=117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/categories?post=117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/savingusmanufacturing.com\/blog\/wp-json\/wp\/v2\/tags?post=117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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