Press Release

Gutierrez Expresses Continued Support for Free Trade

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez issued the following statement on the release of the November 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 14.1 percent to $1.7 trillion year-to-date (through November) over 2007.Imports also increased 9.3 percent to $2.3 trillion and the trade deficit narrowed 1.8 percent during the same time period.

“While the recent monthly declines in trade reflect the challenges in the global economy, today’s report reaffirms that exports will continue to play an important role in helping our economy get back on track.Year-to-date results show that 2008 will be the fifth consecutive year of double-digit percent export growth. Our year-to-date manufactured goods trade surplus is $15.6 billion with the 14 countries with which we had a free trade agreement in 2008. Free Trade Agreements (FTAs) are a proven way to boost sales for American business and agriculture. I urge Congress to act now by approving the Colombia, Panama and South Korea FTAs that will open new markets to American-made goods and services.”