U.S. Chamber Study Highlights Jobs Created Through Trade

At 'State of World Trade' Address Donohue Urges Administration to Pass FTAs for Sake of American Workers

WASHINGTON, D.C.—Delivering the U.S. Chamber of Commerce's first annual "State of World Trade" address today, U.S. Chamber President and CEO Thomas J. Donohue released a new study which found that nearly 18 million U.S. jobs depend on trade with America's free trade agreement (FTA) partners—5.4 million of which were created by the increase in trade unleashed by the agreements.

"I challenge anyone to name another budget-neutral government initiative that has generated this many jobs," said Donohue, who unveiled the study—Opening Markets, Creating Jobs—in a speech to the National Press Club.

Donohue called on the administration, the business community, and labor unions to unite behind a goal of doubling exports of American goods and services in the next five years, and then doubling them again.

"When it comes to trade agreements, America is being locked out and left behind," said Donohue. "It's time to pass the pending agreements with Colombia, Panama, and South Korea. With nearly one in ten Americans looking for work, it is irresponsible and inexcusable to delay any further. If we don't act, not only will we miss out on opportunities to create new jobs, we will lose existing jobs as well."

According to the World Trade Organization, there are 262 free trade agreements in force around the globe today, but the United States has FTAs with just 17 countries. America is party to only one of more than 100 negotiations of bilateral and regional trade agreements.

Donohue also warned against the threat posed by economic nationalism around the globe and how foreign market access barriers and industrial policies skew the playing field against U.S. enterprises.

Donohue's complete remarks and the study, Opening Markets, Creating Jobs, are available at: www.uschamber.com/trade.

The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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