USTR - Statement by USTR Schwab on monthly trade deficit numbers
Office of the United States Trade Representative

 

Statement by USTR Schwab on monthly trade deficit numbers
11/09/2007
 

 

"Today's release of September trade data shows continued strong growth of U.S. exports.  Exports have increased by nearly 12% so far this year.  The trade deficit has decreased by more than 9%. Continued strong export growth is providing considerable support to the U.S. economy right now.  Recent data for the third quarter of this year shows that nearly half of the 3.9% growth rate of the economy was attributable to export expansion.   For Americans, removal of global trade barriers and increased trade improve productivity, generate income growth, and expand higher paying jobs in the United States.  Ninety-five percent of world consumers are outside our borders. Global, regional and bilateral agreements that pry open world markets help expand our trade, support and strengthen our economic growth and benefit U.S. consumers, workers, companies, farmers and ranchers.”

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