Snap Fact #155

Post date: Apr 08, 2012 5:22:33 PM

Snap Fact #155

President Obama Sets Goal To Double U.S. Exports By The End of 2014!

In order to support businesses competing in the global marketplace and double our country’s exports before 2015 (a target the government and the American people are on track to meet), President Obama created the National Export Initiative (NEI) in 2010. 

The program promotes more businesses and attracts foreigners to come to the United States to invest in our economy. According to the opening press release from the White House quoting the President, “the National Export Initiative shall be an Administration initiative to improve conditions that directly affect the private sector's ability to export. The NEI will help meet my Administration's goal of doubling exports over the next 5 years by working to remove trade barriers abroad, by helping firms -- especially small businesses -- overcome the hurdles to entering new export markets, by assisting with financing, and in general by pursuing a Government-wide approach to export advocacy abroad, among other steps."

On June 11, 2011 a government report was issued by the government to update citizens on the progress of this initiative. This 60 page report (*bottom link below) is worth review by serious scholars. The report is lead off by a letter from the President and one from Secretary Locke. 

 These letters are worthy of everyone reading them to better understand this issue. For those who don't use the links, here is the first two paragraphs of the President's letter: 

“How we win the future' was the theme of my State of the Union address in January, and it is one of the biggest challenges facing our nation in the generation to come. America’s willingness to invest in innovation, education, and infrastructure are fundamental to America’s achieving a prosperous future. In early February, I issued an updated Strategy for American Innovation, charting America’s progress for out-innovating, out-educating, and out-building the rest of the world to promote our economic growth and prepare for the challenges of a new century."

"U.S. businesses, farmers, manufacturers, and service providers are among the most competitive in the world. Every company, farm, factory, and partnership needs to be thinking about exporting their goods and services to new international markets. Similarly, the Federal Government must constantly look for ways to promote U.S. exports, enforce trade agreements, and work to ensure that U.S. businesses are able to compete—and compete fairly—on the world stage, consistent with global trading rules".