US President Obama Outlines Export Strategies

US President Barack Obama Thursday revealed his efforts to double US exports over the next 5 years, saying such a goal was critical to create jobs. “In a time when millions of Americans are out of work, boosting our exports is a short-term imperative,” said Obama in a speech at the Export-Import Bank’s annual conference. “In 2008, we exported more than one trillion dollars of manufactured goods, supporting more than one in five manufacturing jobs that pay about 15% more than average,” he added. He stressed …

The US trade deficit was lower by 6.6% in January

The US trade deficit decreased by 6.6% to US$37.29B in January, the US Commerce Department reported Thursday.

The January imbalance was lower than the US$41B deficit that economists expected. In the 1st month of Y 2010, exports decreased by 0.3%, while imports slipped by 1.7%.

The USA’s exports and imports rose in the past several months, a sign economists believe that US economy is beginning to recover from the most serious recession since the Great Depression in 1930’s. —Paul A. Ebeling, Jnr. www.livetradingnews.com