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Blog Category: International Trade Administration

Making America a Top Tourist Destination: Commerce and Interior Keep Up Efforts to Increase Visitation

Submitted on March 21, 2012 - 3:00pm
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Guest blog post by Commerce Secretary John Bryson and Interior Secretary Ken Salazar

This month, more than a million visitors from across the country and around the world are coming to our nation’s capital to see the cherry blossom trees that bloom each spring among some of America’s most treasured historical landmarks. From the purchase of airline tickets to dining in area restaurants to staying in hotels, these visitors are infusing millions of dollars into the community and supporting local businesses.
 
As we search for ways to grow our nation’s economy, we must not overlook the travel and tourism industry as a source for economic opportunity. According to data released by the Commerce Department earlier today, tourism spending increased 8.1 percent in 2011 and supported an additional 103,000 jobs, for a total of 7.6 million jobs.
 
A big factor in the increase was a surge in international visitors to our country: in 2011, 2.5 million more international visitors came to the United States compared with the previous year. These international visitors spent an all-time record of $153 billion on U.S. travel and tourism-related goods and services.
 
As this data reveals, the travel and tourism industry is one of the most important engines of our economy—in fact, it is our number-one service export. That is why President Obama recently announced the creation of a Task Force on Travel and Competitiveness, which charged us with leading efforts to develop recommendations for a National Travel and Tourism Strategy to promote travel throughout the United States.

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How does Commerce’s Antidumping and Countervailing Duty Investigation Process Work?

Submitted on March 20, 2012 - 2:30pm
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In the next few weeks, the Department of Commerce is scheduled to release a series of determinations regarding antidumping (AD) and countervailing duty (CVD) investigations. In light of this, we wanted to share an explanation of the process.

Following U.S. law, regulation, and consistent with international trade rules, the Department of Commerce (Commerce) has the authority to conduct investigations of the alleged subsidization or dumping of foreign products sold in the United States.   

If a U.S. industry believes that it is being injured by dumped or subsidized imports, it may request the imposition of antidumping or countervailing duties by filing a petition with both the Department of Commerce and the United States International Trade Commission (ITC). Import Administration is the agency within Commerce’s International Trade Administration that investigates foreign producers and governments to determine whether dumping or subsidization has occurred and calculates the amount of dumping or subsidization.

If Commerce determines that a petition satisfies all requirements under the law to initiate an investigation, the agency will publish a Notice of Initiation in the Federal Register. The Notice of Initiation will lay out a general history of the proceeding, including dates of official filings as well as the scope of the investigation, explain how Commerce went about making a determination of industry support, and details how the petitioners went about estimating the existence of dumping or subsidization.

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Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India

Submitted on March 20, 2012 - 1:45pm
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Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India (State Dept. image)

U.S. Commerce Secretary John Bryson today announced the 16 companies that will join him on a business development mission to India, his first as Commerce Secretary. During the mission, Secretary Bryson will meet with senior-level Indian government officials to advocate for U.S. export opportunities in India’s rapidly expanding infrastructure sector, and promote investment opportunities in America – both key priorities of the Obama Administration. The mission will take place March 25-30 with stops in New Delhi, Jaipur and Mumbai.  

The trade mission supports President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014 to create more good-paying jobs. Last week, on the two year anniversary of the creation of the NEI, the Commerce Department released new data showing that jobs supported by U.S. exports increased by 1.2 million between 2009 and 2011, and the value of U.S. exports exceed $2.1 trillion for the first time in U.S. history. The mission also supports efforts to increase investment in the United States through SelectUSA, America’s first national investment advocacy program. In addition, the mission will promote a new national tourism strategy focused on creating American jobs by becoming even more welcoming to visitors from around the world.

“This mission builds on President Obama’s historic visit to India two years ago, when he said before the Indian Parliament that the U.S.-India relationship will be one of the defining partnerships of the 21st century. I couldn’t agree more,” said Bryson. “I am looking forward to connecting American business leaders to new opportunities in India’s rising infrastructure sector, and encouraging Indian businesses and individuals to invest in and visit the United States. India is one of the world’s fastest growing economies, and its large market presents an important opportunity for U.S. companies to sell their goods and services to some of the 95% of consumers who live beyond our borders and boost job creation at home.”  Full release

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U.S.-Korea Trade Agreement Provides Opportunities for U.S. Export Businesses

Submitted on March 15, 2012 - 12:00pm
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Korea Trade Agreement Enters into Effect

The United States-Korea Trade Agreement (KORUS Agreement) enters into effect today, reducing tariffs on almost all U.S. industrial exports to South Korea and making it easier for U.S. exporters to successfully compete in the Korean market.

With the implementation of the KORUS Agreement, tariffs will immediately be eliminated on almost 80 percent of U.S. exports to Korea.

Tariffs will also be reduced on other industrial exports that are not made automatically duty-free—the average tariff rate on U.S. industrial exports to South Korea will be reduced from 6.2 percent to 1.1 percent. Most remaining tariffs will be eliminated within 10 years. In addition, the KORUS agreement will eliminate tariffs on nearly two-thirds of all U.S. agricultural exports to Korea. The Commerce Department’s International Trade Administration (ITA) can help exporters figure out when tariffs on their products will be reduced or eliminated (PDF).

The KORUS agreement means more trade for U.S. businesses and more jobs for American workers. The tariff reductions give U.S. exports a competitive advantage in the Korean market, creating new opportunities for companies to do business in South Korea and providing opportunities to expand the reach of their businesses.

For example:

  • Zeeland Farm Services, Inc. (ZFS) is a family-owned and operated agricultural and transportation business with over 200 employees. ZFS was able to break into the Korean market in 2008, and their annual sales revenues in exports to Korea have been around the $5 million mark. The base tariff rates on ZFS’s product categories range from three percent for cottonseed exports to eight percent for soybean meal exports. Under the KORUS agreement, all of these tariffs would immediately drop to zero, giving ZFS a competitive advantage in the Korea market.
  • iWood Eco Design is a Louisville, Kentucky-based manufacturer of custom wood-framed sunglasses. The company currently pays an eight percent tariff on its exports to Korea, Under the KORUS agreement, these sunglasses will enter the country duty-free, immediately creating cost savings for the company. Expedited customs clearance commitments in the pending trade agreement would also facilitate greater access to international delivery services.
  • Pipe Line Development Company (PLIDCO), a Cleveland, Ohio-based manufacturer of pipeline repair and maintenance fittings, currently employs approximately 100 employees. International markets, including Korea and other Asian markets, comprise 74 percent of PLIDCO’s export revenue. PLIDCO currently faces tariffs of up to eight percent on its exports to the Korea. These tariffs will be eliminated under the KORUS agreement, enabling PLIDCO to better compete with other top exporters to Korea, including those from the EU and Iran.

The KORUS agreement is also an important step toward meeting President Obama’s National Export Initiative (NEI) goal to double U.S. exports by the end of 2014. This commitment to supporting exports is one way the Commerce Department is working to support an American economy that’s built to last.

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SelectUSA Brings Investment to the United States

Submitted on March 14, 2012 - 6:00pm
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SelectUSA logo

Guest blog post by Barry Johnson, executive director of SelectUSA

Today, Commerce Secretary John Bryson met with a number of U.S. ambassadors to countries where SelectUSA, the first federal initiative to help drive investment to the United States to create American jobs, is being implemented. The Commerce Department recently launched SelectUSA in ten countries, including China, Brazil, India and South Korea, and their discussion focused on opportunities for further collaboration. The ambassadors were visiting Washington as part of the State Department’s Global Chiefs of Mission Conference.

One of Secretary Bryson’s top priorities is attracting more investment to the United States to create good American jobs. The Commerce Department, through SelectUSA, is helping to tell the story of why America is the best place for companies from around the world to invest, to hire and to build the future of their businesses.

As part of SelectUSA, the Commerce Department will serve businesses seeking to invest or expand in the U.S. and the state, cities and regions that they seek to attract  and host the business. SelectUSA serves as an information clearinghouse on federal rules, regulations and resources; advocates on behalf of the U.S. as the premier investment destination; and functions as an ombudsman to resolve federal-level problems, issues and impediments to investment.

The Commerce Department just finished two-day training sessions with commercial service officers in ten fast-growing pilot markets to conduct outreach to potential investors and perform SelectUSA investment promotion. Together, these countries represent approximately 30 percent of all foreign direct investment (FDI) in the United States. They also reflect both the largest and fastest growing sources of FDI, as well as posts that have been the most active on investment promotion issues.

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On the Two-Year Anniversary of the National Export Initiative Successes Abound

Submitted on March 12, 2012 - 3:30pm
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National Export Initiative

Guest blog post by Commerce Secretary John Bryson

Today marks the two-year anniversary of the signing of the Executive Order creating the National Export Initiative (NEI), when President Obama set the ambitious goal of doubling U.S. exports over five years.

To mark this anniversary, we released new data today showing that jobs supported by U.S. exports increased by 1.2 million between 2009 and 2011. Building on strong growth in 2010, exports supported approximately 9.7 million jobs in 2011 and the value of U.S. exports of goods and services exceeded $2.1 trillion for the first time in U.S. history.

This new data further confirms the good news that exports support an increasing number of American jobs. At the same time, it is also a reminder that we cannot afford to let up on our efforts to help U.S. businesses build it here and sell it everywhere. We must maintain the track record of the past two years and intensify our support of U.S. companies in selling their goods to the 95 percent of the world’s consumers who live beyond our borders by helping to create opportunities and a level playing field. We know that when American businesses and workers get a fair shot, they can compete and they can win.

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The NEI's Second-Year Anniversary: Supporting American Jobs

Submitted on March 12, 2012 - 1:30pm
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The Port of Baltimore – one of the top ports in the country – handles around 30 million tons of cargo and 400,000 containers annually.

Guest blog post by Francisco Sanchez, Under Secretary of Commerce for International Trade

Earlier today – on the second anniversary of the President’s National Export Initiative – Commerce Secretary John Bryson announced that the number of American jobs supported by U.S. exports increased 1.2 million from 2009 to 2011. In total, U.S. exports now support 9.7 million jobs, serving as a bright spot in our economy, and helping to fuel our economic recovery. In addition, last year, there were a record $2.1 trillion in U.S. exports.  And there is a lot more room to grow.

Never has that been more clear than today.

I was in Baltimore this morning to see our efforts to support U.S. exporters first-hand. The Port of Baltimore – one of the top ports in the country – handles around 30 million tons of cargo and 400,000 containers annually. As the head of the U.S. Department of Commerce’s International Trade Administration (ITA), I was proud to sign a Memorandum of Agreement with the Port of Baltimore to expand cooperation on export promotion activities here at home.

The Port was also one of 12 U.S. organizations that participated in the February 2012 ports trade mission to India that I led on behalf of the Department of Commerce. During this mission, the Port of Baltimore signed a sister-port Memorandum of Understanding with the Mundra Port, in an effort to increase trade between the two ports. Two way trade between India and the U.S. grew to $58 billion in 2011 and is an NEI priority market. That is why Secretary Bryson will be leading his first trade mission to India at the end of the month to further opportunities for U.S. businesses in this region.

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Working Locally to Boost Exports Nationally

Submitted on March 8, 2012 - 6:01pm
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Under Secretary Sanchez at the Brookings Institute (Photo Credit: Paul Morigi)

Guest blog post by Francisco Sanchez, Under Secretary of Commerce for International Trade

America is made up of different communities — each with its own character, challenges and opportunities.  Regional leaders have a unique view of these issues and bring to the table incredible insight into their respective regions.  That’s why the International Trade Administration (ITA) is firmly committed to working with these local leaders to utilize their insight, and ultimately help more American businesses expand into overseas markets.

This is important work because exporting supports American jobs, provides new opportunities for businesses, and makes significant contributions to the growth of the American economy. 

In recognition of these positive economic benefits, President Obama launched the National Export Initiative (NEI) in 2010 with the goal of doubling U.S. exports.  On the eve of the NEI’s two-year anniversary — officially on March 12 — I’m proud to say that we are on track to meet this goal.  Last year, there were a record $2.1 trillion in exports.  Plus, exports comprised nearly 14% of U.S. GDP — another record.

Progress has been made, and we are determined to keep it going.  Key to this work is our partnerships with local and regional partners.  While ITA has a talented and dedicated staff doing great work in 108 offices throughout the nation, we recognize that we can have an even greater reach through partnership.

Case in point: Our work with the Brookings Institution.

Today, Brookings’ Metropolitan Policy Program released a report called “Export Nation 2012: How US Metropolitan Areas Are Driving National Growth.”  

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Secretary Bryson Hosts Trade Promotion Coordinating Committee and Export Promotion Cabinet

Submitted on February 28, 2012 - 5:25pm
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Bryson and participants seated at conference table

Meeting follows establishment of the Interagency Trade Enforcement Center through Presidential Executive Order signed today

Commerce Secretary John Bryson today hosted a joint meeting of the Trade Promotion Coordinating Committee (TPCC) and the Export Promotion Cabinet (EPC) to discuss strategic priorities for promoting trade and U.S. exports and receive input on new initiatives. Secretary Bryson was joined by officials from the Export-Import Bank, Small Business Administration, National Security Council, and Departments of Agriculture, State, and Treasury, among other agencies.

The TPCC and EPC support the president’s overall economic agenda by helping U.S. companies export globally and create jobs locally. The TPCC is composed of 20 federal government agencies and chaired by the Secretary of Commerce. The EPC was established to coordinate the development and implementation of the National Export Initiative (NEI) along with the TPCC, helping to meet the president’s goal of doubling U.S. exports by the end of 2014.  

During the meeting, which was his first as Commerce Secretary, Bryson highlighted the progress with NEI and the need to strengthen efforts to continue to increase U.S. exports. In 2011, the U.S. exported over $2.1 trillion in goods and services, the highest on record and the first time in history that America has crossed the $2 trillion threshold. Despite the positive signs of economic recovery, the president has made clear that lasting economic growth requires leveling the playing field for American workers and businesses and making sure they are able to compete successfully in global markets.

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India Notes: New Partnerships Equals New Opportunities

Submitted on February 27, 2012 - 10:30am
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Under Secretary Sánchez with inauguration participants

Guest blog post by Francisco J. Sánchez, Under Secretary for International Trade, International Trade Administration

There are amazing opportunities available to U.S. businesses in India.

That’s one of the main takeaways of my successful week-long trade mission focusing on Indian port infrastructure. Case in point: the two-way trade between India and the U.S. grew to $58 billion in 2011, and this upward trend is expected to continue in 2012.

The ports trade mission that we just concluded today–a first of its kind in India–was especially successful. Representatives from 12 U.S. organizations joined me on the trip, where we visited three different cities to facilitate as many partnerships as possible. The trade mission participants included dredging companies, port security companies, scanning technology providers, infrastructure, and transportation and logistics companies. With them the Ports of Baltimore and San Diego also joined to partner with companies and ports in India.

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