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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Senate Currency Letter Signatures Show Strong Finance, Banking Support
A Senate letter demanding that the Obama administration include disciplines on currency manipulation in trade agreements, including the Trans-Pacific Partnership, has attracted 60 signatories, with more than half of them from the Banking, Finance and Foreign Relations committees.
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Senators urge Obama to address currency manipulation
A bipartisan group of 60 U.S. senators on Tuesday urged the Obama administration to address foreign currency manipulation in the Trans-Pacific Partnership trade talks.
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Stabenow and colleague urge caution on trade deal
A group of 60 senators, led in part by U.S. Sen. Debbie Stabenow, D-Mich., have sent a letter to Treasury Secretary Jacob Lew and the U.S. trade representative asking that concerns about foreign currency manipulation be addressed in talks related to a Pacific Rim trade agreement.
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Senators Seek to Address Currency Manipulation Asia-Pacific Trade Deal
A group of sixty U.S. senators on Tuesday asked the Obama administration to consider the issue of currency manipulation as a part of major trade negotiations among Asia and Pacific nations.
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Currency manipulation should be part of trade talks, Senators say
A bipartisan majority of the US Senate demanded that US President Barack Obama address “currency manipulation” in trade negotiations with 12 Pacific nations, throwing up a potential roadblock as the talks approach their final stages.