Press Release

Gutierrez Statement on June 2008 Trade Numbers

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the release of the June 2008 U.S. International Trade in Goods and Services report by the Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report shows that U.S. exports increased by 18.8 percent to $932.9 billion year-to-date (through June) over 2007. Imports increased 12.3 percent to $1,284.3 billion and the trade deficit narrowed 1.9 percent during the same time period.

“Today’s trade numbers show that U.S. exports are invaluable to the strength of the overall U.S. economy. Our export success underscores the robust competitiveness of U.S. business and agriculture in the global marketplace. Trade with our free trade agreement (FTA) partners is vigorous and demonstrates the benefits of fair, two-way trade between neighbors and friends. Through June, exports to NAFTA partners Canada and Mexico, Chile and CAFTA-DR* are up $26.2 billion over this period last year and growing at a rate of 13.0 percent.

“To improve the competitiveness in our economy, Congress must pass the U.S.-Colombia Trade Promotion Agreement (TPA). Colombia is a great ally and friend of the United States and President Uribe has achieved truly remarkable results in transforming Colombia into a proud society with a growing economy. Congress must also pass the pending free trade agreements with Panama and South Korea. FTAs will not only strengthen our export growth, but demonstrate U.S. support of allies devoted to democracy and free markets.”

*Excludes Costa Rica; pending CAFTA-DR entry-into-force.