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.
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Time for a fightback in the currency wars
The most overlooked cause of the economic weakness in the US and Europe is what we call the “global currency wars”. If all currency intervention were to cease, we estimate that the US trade deficit would fall by $150bn-$300bn, or 1-2 per cent of gross domestic product. Between 1m and 2m jobs would be created. The eurozone would gain by a lesser but still substantial amount. Countries that were engaged in intervention could offset the impact on their economies by expanding domestic demand.
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U.S. Trade Rep Confident About Trans-Pacific Partnership
SINGAPORE–The top U.S. trade negotiator said he doesn’t see plans for an Asia-only trade pact that would bind China and Japan to other economies throughout the region as a threat to U.S. economic interests.
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Study sees US auto jobs losses if Japan joins trade pact
WASHINGTON, Aug 21 (Reuters) - A study released on Tuesday warned the United States could lose 2,600 auto industry jobs and thousands more in the broader economy if Japan is allowed to join a proposed free trade pact at the center of President Barack Obama's trade agenda.
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Report: US would lose jobs, auto production if Japan joins trade deal
U.S. automakers continue to build their case against Japan's entry into an Asia-Pacific trade deal with a new report showing thousands in job losses and a drop in U.S. production.
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