Trade Fact of the Day
The U.S. manufactured goods trade balance improved 122 percent with our FTA partners, but only six percent with non-FTA partners in the first five months of 2008.
About Trade
"Free and fair trade helps secure a future of freedom and promise."
President George W. Bush
World Trade Week Proclomation
May 16, 2008
News Highlights
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Commerce Secretary Gutierrez Hails 2nd Quarter Growth Spurt Driven by Booming Record Exports
Washington (Aug. 30)—Commerce Secretary Carlos M. Gutierrez released the following statement on the preliminary estimate of real gross domestic product (GDP), which showed that the American economy grew at 4.0 percent in the second quarter of 2007. (More)
Secretary of Agriculture Mike Johanns Addresses Media on the Farm Bill
Decatur, Ill. (Aug. 29)—Secretary of Agriculture Johanns spoke about the Farm Bill: “The Administration, as you know, proposed a Farm Bill that ended subsidies to those who are among the wealthiest 2 percent of American tax filers. This measure alone would have saved about $1 billion in savings. This is money that, quite honestly, we did not want to take out of farm policy. We wanted to reinvest it in farm policy, right back into states like Illinois, for agricultural priorities, a strong safety net, conservation programs, renewable energy, and rural development.”
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Secretary Gutierrez Applauds Increasing Exports
Washington (Aug. 14)—U.S. Commerce Secretary Carlos M. Gutierrez issued the following statement on the release of the June 2007 U.S. International Trade in Goods and Services report by the Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report shows that U.S. exports increased by 11.0 percent to $779.2 billion year-to-date (through June) over the same period in 2006. Imports increased 4.4 percent to $1,132.0 billion. The deficit narrowed 7.7 percent or $29.5 billion compared to the same period in 2006. (More) (Fact Sheet)
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Secretary Gutierrez Meets with Chinese Ambassador
Washington (Aug. 7)—Secretary Carlos M. Gutierrez met with Chinese Ambassador Zhou Wenzhong at the Commerce Department to discuss the upcoming U.S.-China Joint Commission on Commerce and Trade (JCCT) meeting and our commercial relationship with China, our fourth-largest export market. China is our fastest-growing major market—U.S. exports to China totaled $55 billion in 2006, up 32 percent from the previous year. Ongoing issues such as market access, product safety and intellectual property will be on the agenda at the bilateral meetings in December.
Gutierrez Touts Record U.S. Exports in Tour of Charleston Port
Charleston, S.C. (Aug. 6)—U.S. Commerce Secretary Carlos M. Gutierrez (center), U.S. Senator Jim DeMint (right) and Congressman Henry Brown, Jr. (left) hold a press conference at the Port of Charleston in South Carolina to discuss how open markets help the U.S. economy and create jobs. Gutierrez was in Charleston to discuss the benefits of the pending free trade agreements with Peru, Colombia, Panama and South Korea, and to highlight how trade has helped South Carolina's economy. (More)
