News / Economy

Obama Lauds US Export Growth

President Barack Obama, center, takes his seat before speaking to members of his Export Council during their meeting in the Eisenhower Executive Office Building on the White House complex, Sept. 19, 2013.
President Barack Obama, center, takes his seat before speaking to members of his Export Council during their meeting in the Eisenhower Executive Office Building on the White House complex, Sept. 19, 2013.
Kent Klein
— President Barack Obama is highlighting a steady increase in U.S. exports during his term as “one of the biggest bright spots” in the nation’s economy.  The president adds, however, that more remains to be done.

Obama says rising exports are one of many encouraging signs for the U.S. economy.

“One of the biggest bright spots in our economy has been exports.  The fact that ‘Made In America’ means something and has provided a boost to our domestic economy and has reminded the world just how competitive we are," said President Obama.

The president spoke Thursday at a meeting of his export council at the White House.

In 2010 Obama set an ambitious goal of doubling U.S. exports by 2015.  But a weak global economy and slow growth in American manufacturing have made that goal elusive.  

U.S. exports have grown from $1.84 trillion, when the president took office in January 2009, to $2.2 trillion today.

Obama stressed the importance of exports to the American economy.

“Last year, $1 billion in exports supported nearly 5,000 jobs in the United States.  So, for every billion dollars that we sell [abroad], that is 5,000 new jobs here in the United States.  So we are really focused on how do we keep that momentum going," said Obama.

The president said he intends to push ahead with the trans-Pacific and trans-Atlantic trade partnerships, in addition to reaching trade deals with individual countries.

Caroline Atkinson, a deputy national security adviser for international economics, said the United States also continues to work against protectionism and for more equitable trade agreements.

“We have managed to shift to a more positive tone in the multilateral trade negotiations, and we are hopeful that there will be, and we had strong statements of political will to make the next round of the negotiations in December in Bali a success," said Atkinson.

Obama has spent much of this week calling attention to the growth in the U.S. economy in the five years since the financial crisis began with the collapse of several banks and financial firms.

Republicans have reminded voters that the recovery has been slow, and has not extended to all Americans.

The president’s export council is an advisory group, consisting of the leaders of corporations such as Merck, Xerox, Boeing, Dow Chemical and Walt Disney.

You May Like

Koreas Mark 61st Anniversary of War Armistice

Muted observances on both sides of heavily-armed Demilitarized Zone that separates two decades-long enemies More

Judge Declares Washington DC Ban on Public Handguns Unconstitutional

Ruling overturns capital city's prohibition on carrying guns in pubic More

Pricey Hepatitis C Drug Draws Criticism

Activists are using the International AIDS Conference to criticize drug companies for charging high prices for life-saving therapies More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Students in Business for Themselvesi
X
Mike O'Sullivan
July 26, 2014 11:04 AM
They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Not Even Monks Spared From Thailand’s Junta-Backed Morality Push

With Thailand’s military government firmly in control after May’s bloodless coup, authorities are carrying out plans they say are aimed at restoring discipline, morality and patriotism to all Thais. The measures include a crackdown on illegal gambling, education reforms to promote students’ moral development, and a new 24-hour phone hotline for citizens to report misbehaving monks. Steve Sandford reports from Bangkok.
Video

Video Virtual Program Teaches Farming Skills

In a fast-changing world beset by unpredictable climate conditions, farmers cannot afford to ignore new technology. Researchers in Australia are developing an online virtual world program to share information about climate change and more sustainable farming techniques for sugar cane growers. As VOA's Zlatica Hoke reports, the idea is to create a wider support network for farmers.
Video

Video Airline Expert: Missile will Show Signature on Debris

The debris field from Malaysia Airlines Flight 17 is spread over a 21-kilometer radius in eastern Ukraine. It is expected to take investigators months to sort through the airplane pieces to learn about the missile that brought down the jetliner and who fired it. VOAs Carolyn Presutti explains how this work will be done.
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.