THE AUTO INDUSTRY IS AMERICA'S LARGEST EXPORTER

 

Automakers and their suppliers are America’s largest exporters, beating the next best-performing industry by nearly $36 billion in exports over the past ten years.

 

Top Five U.S. Exporters by Industry (2018, in billions)


 

The automotive sector represents the nation’s No. 1 export industry and is responsible for driving job creation and economic growth across the country. The U.S. automotive sector has seen its exports rise by 76% since 2009.

Each year, Ford, General Motors and Stellantis export about 1 million American-made vehicles to more than 100 different foreign markets. This is further evidence of the economic significance of U.S. exports to job creation.

Increased exports have far reaching impacts on the economy overall. Ford, General Motors and Stellantis produce more of their vehicles, buy more of their parts, conduct more of their research and base more of their workers in the United States than their competitors. These differences represent billions of dollars in investment and purchases, representing millions of American jobs.

Automaker and Supplier Exports (in billions)


 

The U.S. automotive sector has seen its exports rise by 76% since 2009.

 

 

  • Currency Rules Sought in Pacific-Trade Deal by Automakers

    A trade pact among Pacific-region nations should include provisions to prevent currency manipulation, Representative Sander Levin said, siding with U.S. automakers in expressing concern about Japan’s economic policies as the nation formally joins the talks.

    “We need an enforceable obligation to avoid manipulating exchange rates,” Levin of Michigan, the top Democrat on the House Ways & Means Committee, said today in remarks for a speech at the Peterson Institute for International Economics in Washington.

  • Detroit 3 seek to keep tariffs

    WASHINGTON -- After a failed effort to exclude Japan from regional free-trade talks, the Detroit 3 are demanding that U.S. auto tariffs be phased out in no less than 25 to 30 years, Reuters reported

     

  • Trade Deficit in U.S. Jumped in May as Imports Near Record

    The trade deficit in the U.S. unexpectedly jumped in May as imports climbed to the second-highest level on record, pointing to an economy that is overcoming higher taxes and government cutbacks.

    The gap widened by 12.1 percent to $45 billion, the biggest since November, from $40.1 billion in April, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg survey of 71 economists called for a $40.1 billion deficit. The value of imports at $232.1 billion was second only to a record $234.3 billion in March 2012.

  • Auto Companies, Unions Outline Demands For Dealing With Japan In TPP

    Labor unions and U.S. automotive manufacturers have outlined the concrete steps that they say the Office of the U.S. Trade Representative must take in order to ensure that the inclusion of Japan in the Trans-Pacific Partnership (TPP) talks does not end up harming U.S. companies and workers. On currency manipulation, these groups are aligned, but there appear to be some differences between them on issues like "managed trade" and rules of origin.

    The groups made presentations outlining their view at a July 2 hearing of the Trade Policy Staff Committee on Japan's participation in TPP.

    Matt Blunt, the president of the American Automobile Policy Council (AAPC), made clear that his group cannot support a final TPP deal unless its demands are met. "Unless the United States secures all of the commitments from Japan that we outlined in our June 9 submission, it will be impossible for the AAPC to support the TPP agreement," Blunt argued at the hearing.