Press Release

Statement by Commerce Secretary Gutierrez on the February 2008 U.S. International Trade in Goods and Services Report

DALLAS—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the release of the February 2008 U.S. International Trade in Goods and Services report by the Department’s Bureau of the Census and Bureau of Economic Analysis. Today’s report shows that February U.S. exports increased by 20.8 percent over February 2007 to $151.4 billion, while February imports increased 16.4 percent to $213.7 billion from the February 2007 level. The trade deficit rose by 7.0 percent over its year ago level, driven by rising petroleum costs.

“Exports continue to be a bright spot for the U.S. economy and are actually helping to off-set some of the economic challenges in the housing market. Last year our country exported $1.6 trillion of goods and services—nearly a 13.0 percent increase over 2006. Free trade agreements continue to play a vital role in opening markets for American workers, farmers and businesses. The U.S.-Colombia Trade Promotion Agreement will further open the door for American goods and agriculture, remove barriers and bolster U.S.-Colombia trade relations to two-way, free trade

“The U.S.-Colombia agreement deserves a vote from Congress and our workers, farmers and businesses deserve to compete on an even playing field.

“It is profoundly disappointing that Democratic congressional leadership is choosing to change the rules in the middle of the game. We need to stand up for American interests rather than special interests. American workers, farmers and manufacturers deserve a vote in support of exports.

“The need for this agreement is too urgent—the stakes for our national and economic security are too high—to allow this year to end without a vote.

Commerce Secretary Carlos M. Gutierrez is in Dallas-Ft. Worth to tour RadioShack World Headquarters and provide an update on the transition to digital TV and deliver remarks on trade and the economy at the Jno. E. Owens Memorial Foundation Conference hosted by SMU’s Tower Center: “Trade Integration in the Americas.”