Geithner says growing exports critical to U.S. economy

09:08, May 19, 2010      

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U.S. Treasury Secretary Tim Geithner emphasized Tuesday that growing exports will benefit U.S. economic recovery and create jobs for Americans.

"Growing exports is critical to growing the economy," said Geithner during his visit to Washington state -- the number one exporter in the U.S. on a per capita basis -- to discuss the Obama administration's efforts to spur American exports, open new markets for U.S. exports, and grow the economy

"Our job as the government is to create the conditions for American business to excel. Our job is to help American businesses invest and grow. Our job is to help Americans get back to work," he said.

While in Washington, Geithner toured the Boeing manufacturing site in Renton, which, as of November 2008, has produced 42 percent of the world's current jetliner fleet.

In his State of the Union address, President Obama underscored the link between trade and job creation and set a goal of doubling exports over the next five years, an increase that will support two million jobs in the United States.

To help meet this goal, the U.S. government launched a National Export Initiative designed to marshal the resources of the U.S. government behind American businesses that sell their goods and services abroad, with steps to open up new markets, double exports, and level the playing field for American workers.

According to the Commerce Department's latest analysis, 6,200 jobs are created or sustained in the U.S. for every 1 billion U.S. dollars in exports.



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