Statement:
Increase opportunities for U.S. companies by opening markets globally (ITA, USPTO, NTIA, NOAA)
Description:
The strength of the U.S. economy continues to depend on competitive manufacturing and services sectors and a vibrant open global marketplace. Growth in key foreign markets will help drive global economic recovery. More than one billion new consumers worldwide will enter the middle class during the next 15 years, and their buying power will increase the consumption of goods and services worldwide.
As economies around the world grow, some foreign governments develop policies that create barriers to U.S. companies in those markets. Such trade barriers and other unfair trade practices cost U.S. companies billions of dollars in lost revenue. Trade barriers result not only in financial loss, but also limit the ability of U.S. companies to expand production, hire additional workers, or pursue investment opportunities. Studies indicate that trade openness has added between $800 billion to $1.4 trillion to the U.S. economy since World War II, amounting to $7 thousand to $13 thousand per U.S. household.Removing the remaining trade barriers could result in an additional $400 billion to $1.3 trillion annually, or about an additional $4 thousand to $12 thousand per U.S. household.
The Department will deploy its policy and promotional tools to help U.S. firms compete for new opportunities globally. A renewed focus on global competitiveness will help strengthen the long-term health of U.S. industries and stimulate domestic job creation. The Department will also use its strong expertise on export promotion and industry-economic-country issues to conduct holistic analyses of U.S. trade issues and needs, make recommendations, and take actions.
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Statement:
By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.
Description:
Exports are important to U.S. economic prosperity. The International Trade Administration (ITA) is committed to providing high-quality assistance that helps U.S. companies achieve their export objectives. This priority goal focuses on improving the quality of assistance ITA’s trade and commercial specialists provide to companies. ITA’s delivery of substantive, high value-added assistance is affirmed when companies receiving this assistance respond that they have achieved their export objectives. The Global Markets business unit within ITA is the organizational lead on this priority goal. It is imperative that Global Markets staff worldwide – all of whom interact with U.S. companies – are unified behind a common goal that focuses on unique needs of our customers. The FY12 – FY13 baseline average percentage of companies assisted that achieved their export objectives is 67 percent for ITA’s fee-for-service clients. To achieve this priority goal, Global Markets has sought to understand individual U.S. company needs to be successful internationally and, subsequently, offered a customized approach that draws on the full resources available across ITA and the Federal Government to meet those needs. This strategic shift towards offering a more consultative approach steers ITA professionals toward identifying the problems and challenges with exporting, and designing holistic solutions. It focuses ITA on engaging with clients to offer substantive, high value-added assistance, such as helping companies select the best markets to enter, overcoming export trade barriers, or finding suitable international business partners.
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Statement:
Increase U.S. exports by broadening and deepening the U.S. exporter base (ITA, BIS, ESA, MBDA, EDA)
Description:
Recognizing the important role of exports to the U.S. economy, President Obama announced the National Export Initiative in 2010. U.S. exports have increased steadily since the launch of this initiative, reaching a record $2.2 trillion in 2012. However, the nation still remains below its full export potential. U.S. firms under-export compared to competitor industrialized nations. Of the U.S. companies that do export merchandise, 58 percent export to only one market. The International Monetary Fund forecasts that approximately 80 percent of world economic growth over the next five years (2014 – 2018) will take place outside of the United States. Yet many small and medium-sized companies in the US, the engines of economic growth and innovation, rarely export.
The Department, through its programs, expertise, and global presence, is uniquely positioned to help U.S. companies understand the importance of exporting. Department research and analyses can identify the best export opportunities for U.S. goods and services. With offices located in more than 70 countries, 48 U.S. states, Puerto Rico and Washington D.C., Department experts help U.S. companies access valuable market information, promote their products and services in target foreign markets, meet qualified international buyers and distributors, and overcome challenges and barriers when they do business overseas. Moreover, the Secretary of Commerce, as chair of the Trade Promotion Coordinating Committee, will lead the national export strategy, set priorities, and drive federal efforts to increase exports.
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Statement:
By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.
Description:
Exports are important to U.S. economic prosperity. The International Trade Administration (ITA) is committed to providing high-quality assistance that helps U.S. companies achieve their export objectives. This priority goal focuses on improving the quality of assistance ITA’s trade and commercial specialists provide to companies. ITA’s delivery of substantive, high value-added assistance is affirmed when companies receiving this assistance respond that they have achieved their export objectives. The Global Markets business unit within ITA is the organizational lead on this priority goal. It is imperative that Global Markets staff worldwide – all of whom interact with U.S. companies – are unified behind a common goal that focuses on unique needs of our customers. The FY12 – FY13 baseline average percentage of companies assisted that achieved their export objectives is 67 percent for ITA’s fee-for-service clients. To achieve this priority goal, Global Markets has sought to understand individual U.S. company needs to be successful internationally and, subsequently, offered a customized approach that draws on the full resources available across ITA and the Federal Government to meet those needs. This strategic shift towards offering a more consultative approach steers ITA professionals toward identifying the problems and challenges with exporting, and designing holistic solutions. It focuses ITA on engaging with clients to offer substantive, high value-added assistance, such as helping companies select the best markets to enter, overcoming export trade barriers, or finding suitable international business partners.
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Statement:
Increase high-impact inward foreign direct investment into the United States (ITA, ESA, EDA)
Description:
The United States has been the world’s largest recipient of foreign direct investment since 2006. Every day, foreign companies establish new operations in the United States or provide additional capital to existing businesses. With the world’s largest consumer market, skilled and productive workers, highly innovative culture, strong and effective legal system, predictable regulatory environment, and low cost energy resources, the United States has an attractive investment climate. In addition, the nation’s strong commitment to environmental protection adds sustainability to U.S. assets. To remain a premier investment destination, the United States must continue to nurture and build upon these strengths that make firms want to invest here.
Foreign direct investment in the United States contributes significantly to U.S. economic growth and prosperity. In 2011, value added by majority-owned U.S. affiliates of foreign companies accounted for 4.7 percent of total U.S. private output. These firms employed 5.6 million people in the United States, or 4.1 percent of private-sector employment. The United States competes with countries that have aggressive national programs to encourage businesses to move to or expand within their own borders. In response to this competition, President Obama announced a federal SelectUSA initiative in 2011. Led by the Department, SelectUSA, involves multiple Department bureaus, includes other federal agencies, and works alongside U.S. states and localities to advocate aggressively for the United States as a premier destination. This coordinated federal effort assures the global investment community that America is open for business. Furthermore, Department advocacy is backed up by capacity building grants to help communities create an economic ecosystem in which the private sector can leverage regional and community assets to promote foreign investment.
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Statement:
By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.
Description:
Exports are important to U.S. economic prosperity. The International Trade Administration (ITA) is committed to providing high-quality assistance that helps U.S. companies achieve their export objectives. This priority goal focuses on improving the quality of assistance ITA’s trade and commercial specialists provide to companies. ITA’s delivery of substantive, high value-added assistance is affirmed when companies receiving this assistance respond that they have achieved their export objectives. The Global Markets business unit within ITA is the organizational lead on this priority goal. It is imperative that Global Markets staff worldwide – all of whom interact with U.S. companies – are unified behind a common goal that focuses on unique needs of our customers. The FY12 – FY13 baseline average percentage of companies assisted that achieved their export objectives is 67 percent for ITA’s fee-for-service clients. To achieve this priority goal, Global Markets has sought to understand individual U.S. company needs to be successful internationally and, subsequently, offered a customized approach that draws on the full resources available across ITA and the Federal Government to meet those needs. This strategic shift towards offering a more consultative approach steers ITA professionals toward identifying the problems and challenges with exporting, and designing holistic solutions. It focuses ITA on engaging with clients to offer substantive, high value-added assistance, such as helping companies select the best markets to enter, overcoming export trade barriers, or finding suitable international business partners.
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Statement:
Strengthen fair competition in international trade for U.S. firms and workers by addressing and resolving foreign unfair trade practices and enforcing international trade agreements (ITA)
Description:
Efforts to enhance U.S. commercial competitiveness and maximize potential U.S. exports can be thwarted by unfair and injurious practices of foreign firms and their governments. Only with a level playing field can U.S. companies strengthen and develop the capacity to expand into new markets or maintain market share at home and abroad.
As the federal agency charged with administering the U.S. antidumping and countervailing duty laws, the Department’s International Trade Administration (ITA) helps domestic manufacturers compete against unfairly traded imports into the United States. ITA’s petition counseling unit helps U.S. workers and firms who assert damage from violations. Focus is on assuring that small and medium-sized enterprises understand their rights and the requirements for filing a petition to initiate an investigation of possible foreign dumping and subsidization. Once petitions seeking relief under the trade remedy laws are filed, ITA investigates the allegations. When imports are found to be dumped or subsidized and a cause of injury to U.S. industry, ITA instructs U.S. Customs and Border Protection to collect duties to offset the impact.
The Department also offers assistance to U.S. exporters and investors, particularly small and medium-sized enterprises, by coordinating government resources to overcome trade barriers. This assistance educates U.S. industry on international trade agreements that maintain open markets . ITA’s trade experts monitor foreign government compliance with the more than 250 trade agreements so companies, investors, and workers realize the benefits of the agreements. Through its full range of legal, analytical, investigatory, trade policy, and commercial expertise, the Department provides robust and comprehensive services to help U.S. exporters confront, forestall, and resolve foreign unfair trade practices.
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Statement:
By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.
Description:
Exports are important to U.S. economic prosperity. The International Trade Administration (ITA) is committed to providing high-quality assistance that helps U.S. companies achieve their export objectives. This priority goal focuses on improving the quality of assistance ITA’s trade and commercial specialists provide to companies. ITA’s delivery of substantive, high value-added assistance is affirmed when companies receiving this assistance respond that they have achieved their export objectives. The Global Markets business unit within ITA is the organizational lead on this priority goal. It is imperative that Global Markets staff worldwide – all of whom interact with U.S. companies – are unified behind a common goal that focuses on unique needs of our customers. The FY12 – FY13 baseline average percentage of companies assisted that achieved their export objectives is 67 percent for ITA’s fee-for-service clients. To achieve this priority goal, Global Markets has sought to understand individual U.S. company needs to be successful internationally and, subsequently, offered a customized approach that draws on the full resources available across ITA and the Federal Government to meet those needs. This strategic shift towards offering a more consultative approach steers ITA professionals toward identifying the problems and challenges with exporting, and designing holistic solutions. It focuses ITA on engaging with clients to offer substantive, high value-added assistance, such as helping companies select the best markets to enter, overcoming export trade barriers, or finding suitable international business partners.
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