[ Fact Sheet - October 27, 2008]

Under Secretary Christopher A. Padilla Promotes Invest in America With Foreign Trade Commissioners: Foreign Direct Investment Key to U.S. Growth

New York (Nov. 6) - U.S. Commerce Under Secretary for International Trade Christopher A. Padilla underscored the importance of foreign direct investment to the U.S. economy during a meeting with Foreign Trade Commissioners at the office of New York Gov. David A. Patterson. “The United States is the best place in the world to do business because of our commitment to open markets and democracy, our transparent legal system and cutting-edge workforce,” said Padilla. “FDI encourages innovation and job creation in the United States and creates strong, stable and profitable investment relationships with global partners that are vital to the long-term health of the U.S. economy.” (More)

International Visitor Spending Hits All Time High: Travelers Pump $12.7 Billion into U.S. Economy

Washington (Nov. 6) - The U.S. Department of Commerce today announced that 5.6 million international visitors traveled to the United States in August 2008, an increase of 6 percent over August 2007. International visitors spent a record $12.7 billion in August 2008, a 20 percent increase over August 2007. “The strong August data shows that America continued to be a top destination for travelers from all parts of the world,” said Commerce Manufacturing and Services Assistant Secretary William G. Sutton. “Record high visitor spending highlighted the strength of the U.S. tourism industry, a welcome and positive contribution to a lagging U.S. economy.” (More)

Recent Trade News:
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Gutierrez Releases Report on Impact of Litigation Environment on Attracting Foreign Investment - October 29, 2008

Secretary Gutierrez Discusses Economy, Announces Launch of New Interagency Web Site in “Ask The White House” Interactive Online Forum - October 24, 2008

President Bush Signs H.R. 7222, the Andean Trade Preference Act Extension - October 16, 2008

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