All News & Blogs
To protect and grow American jobs, we need more global trade - not less
View More Images from this story
Visit the Photo Place
WASHINGTON--Those who think we can protect U.S. jobs by turning inward have got it exactly backward.
In fact, we must look beyond U.S. shores and pursue lucrative opportunities in world markets if we're going to drive stronger growth at home, create more jobs for U.S. workers, and compete in a global economy.
Expanding our reach in the world will allow American businesses to grow. Five percent of global consumers live inside of the United States--the remaining 95 percent are spread out across the world. Foreign consumers represent 80 percent of the world's buying power and 92 percent of its economic growth. We need to go where the customers are.
Existing U.S. jobs and key industries depend on trade. Altogether, trade supports 38 million American jobs--more than 1 in 5. One in 3 manufacturing jobs depends on exports, and for every three acres of American farmland, one is used to grow food that is exported to a growing global population.
U.S. small businesses are some of the strongest drivers of trade. More than 97 percent of the 293,000 U.S. companies that export their products are small and midsize outfits. While large companies account for a majority of exports, small and midsize businesses account for more than one-third of all U.S. merchandise exports.
Trade is also a two-way street. If we say "no thanks" to global partners who wish to import goods and services to our markets, U.S. businesses and consumers will suffer. Imports mean lower prices and more choices for American families as they try to stretch their budgets and for companies seeking raw materials and other inputs. Access to imports boosts the purchasing power of the average American household by about $10,000 annually.
It's true that the playing field for trade isn't always level. Many countries slap tariffs on U.S. exports that are 10 or 20 times higher than our own, and a web of other barriers often shut out U.S. goods and services. That's why we must negotiate trade agreements to remove those obstacles. U.S. exports to new free trade agreement (FTA) partners have grown four times faster than U.S. exports globally in the years after they are implemented.
The expansion in trade spurred by U.S. FTAs supports more than 5 million American jobs. And while they represent just 10 percent of global GDP, America's 20 FTA partners buy nearly half of U.S. exports.
PRO: TO PROTECT U.S. JOBS, MORE TRADE--NOT LESS--IS NEEDED
Myron Brilliant is executive vice president and head of international affairs at the U.S. Chamber of Commerce.