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Statement by USTR Susan C. Schwab on monthly trade deficit numbers

 

 

“June trade data, released this morning, show that the U.S. trade deficit has fallen by 7.7% so far this year, compared to the same period of 2006.  American exports are up by 11%, more than twice as fast as the 4.4% increase in U.S. imports. Highlighting the importance of exports, other recently released data on the economy showed that export expansion has accounted for 40% of U.S. economic growth over the last year.  Good trade agreements remove barriers, expand trade and help support incomes and better paying jobs in America.  Consumers, workers, companies, farmers and ranchers benefit from agreements to further open global markets to U.S. exports.”