Exports of goods and services have been one of the bright spots in the lackluster U.S. economy lately. Exports have been growing much faster than almost anything else. But, economies around the world are now slowing.
And to find out what that means for U.S. exports and jobs, we turn, as we often do, to David Wessel, economics editor of The Wall Street Journal.
President Barack Obama signs H.R. 3630 - Middle Class Tax Relief and Job Creation Act of 2012 in the Oval Office, Feb. 22, 2012.
Credit Peter Souza / White House
President Obama has signed bipartisan legislation that allows the bank to continue financing U.S. exports through 2014. Mr. Obama said the move will help thousands of businesses sell their products and services oversees and create jobs at home.
Originally published on Sat April 21, 2012 7:09 pm
Container ships are positioned under cranes at the Port of Oakland in California. U.S. exports are up more than 30 percent from just two years ago, when President Obama set a goal of doubling U.S. exports in five years.
In his State of the Union address two years ago, President Obama argued there were a few things the U.S. needed to do in order to recover from the economic recession. One of them was to export more of our goods around the world.
"The more products we make and sell to other countries, the more jobs we support right here in America," Obama said.
That night, the president unveiled a new goal: to double U.S. exports over the next five years. It would be an increase that the president said would "support two million jobs in America."
This is WEEKEND EDITION from NPR News. I'm Linda Wertheimer.
President Obama is in Colombia today, along with 33 leaders, gathered for the Summit of the Americas. During his visit, the president hopes to highlight growing economic ties within the region. On his way to Colombia, Mr. Obama made a swing-state pit-stop in Tampa, Florida.