The United States is missing out on opportunities to boost trade and jobs: To create the 20 million jobs we’ll need by 2020, we must leverage the opportunities presented by trade. This is why the Chamber applauded when President Barack Obama called for a national goal to double U.S. exports within five years.
The opportunities we see abroad are vast: Outside our borders are markets that represent 73% of the world’s purchasing power, 87% of its economic growth, and 95% of its consumers. Trade is recovering in the wake of the financial crisis, and the WTO reports a feared epidemic of protectionism did not materialize.
» Read the summary and download the report
» Read Tom Donohue’s speech delivered at the National Press Club
Opening Markets, Creating Jobs:
Estimated U.S. Employment Effects of Trade with FTA Partners
To show the benefits of America’s trade agreements for U.S. workers, the U.S. Chamber commissioned a study entitled Opening Markets, Creating Jobs: Estimated U.S. Employment Effects of Trade with FTA Partners. It found nearly 18 million U.S. jobs depend on trade with America’s free trade agreement (FTA) partners — 5.4 million of which were created by the increase in trade unleashed by the agreements.
The study examined U.S. FTAs in effect in 2008 with a total of 14 countries. It excluded three other countries where FTAs have only recently been implemented. The study employs a widely used general equilibrium economic model which is also used by the U.S. International Trade Commission, the WTO, and the World Bank.
» Read the summary and download the study
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