Hatch Press Release: By the Numbers: What Trade Means for America

Breaking down barriers to trade so the United States can sell American goods and services around the world has fueled economic growth and supported better, higher-paying jobs here at home.

So, what does trade mean for America today?

Here’s a look, by the numbers:

  • 11.7 Million Jobs: The number of export-supported jobs in 2014.
  • 18%: Export supported jobs can provide up to 18 percent higher wages than non-export supported jobs.
  • $2.3 Trillion: U.S. exports of goods and services tallied a record of more than $2.3 trillion in 2014, marking the fifth consecutive year of record exports.
  • 13.4%: Exports accounted for 13.4 percent of the American economy in 2014.
  • 304,223: The number of American companies exporting in 2013.

There is a real opportunity to build upon this economic success.

Right now, the United States is engaged in two major trade negotiations with Asia and Europe – the Trans-Pacific Partnership (TPP) and the Transatlantic and Investment Partnership (T-TIP). 

These two agreements will help open new markets and create even more customers for American manufacturers, farmers, and service providers.  

But first, we need to renew Trade Promotion Authority (TPA), a critical tool that will help America effectively negotiate and bring home high-standard trade agreements.

TPA is the only way the United States can successfully conclude such deals. It is an essential tool in America’s trade arsenal to unlock opportunities for our exports.

The time for Congress to act is now.