posts tagged with Free trade

Open Markets One of the Keys to U.S. Competitiveness

EX1258.jpg Earlier today, I had the honor of joining President Obama at the Rose Garden on the South Lawn of the White House to celebrate the signing of trade agreements with South Korea, Panama and Colombia. This is a victory for our company, our customers and the overall economic health of the United States. FedEx has long supported these agreements and we are pleased this day has come.

Open markets are one of the key foundations to U.S. competitiveness, economic growth and job creation. As our chairman, Frederick W. Smith, so often says, global trade is now the largest single economy out there – and it will only continue to grow. Open markets enable people outside of the U.S. to sell their goods here and allow American workers, manufacturers and producers to export theirs globally. According to the Office of the U.S. Trade Representative, in 2008, exports in goods and services supported more than 10 million American jobs and generated more than $1.5 trillion in income for American families in 2009.

First hand benefits of free trade (originally published on TheHill.com)

...One of our small-business clients in California was able to increase sales almost 19,000 percent in five years and create a supply chain that wraps around the world with no physical headquarters and only 32 employees. This was possible due to its imagination and entrepreneurial spirit, and also because of access to markets around the globe and an ability to get its products to its customers. Free trade creates growth.

FedEx regularly ships high-tech products, pharmaceuticals, auto parts, medical equipment and many other goods to Korea, Panama and Colombia. Passing bilateral FTAs will ease market barriers and provide significant opportunities for American businesses that are looking to grow and reach new customers. In fact, according to a 2008 estimate from the U.S. Trade Representative, America’s small- and medium-sized enterprises could export up to $173 billion to the Asia-Pacific region...

Grow U.S. Exports, Grow Jobs for Americans

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Like many of you, I watched President Obama's recent State of the Union address.  And I was very pleased to hear about his goal of doubling U.S. exports of goods and services by 2014 to support two million jobs for Americans.

Trading Up

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On April 2, world leaders of the G20 will meet in London for critical talks on the global economic crisis.  From my perspective, one of their key objectives should be to prevent new trade barriers from spreading like a virus around the world. In November, leaders of the G20 pledged to refrain from raising barriers to trade and investment for a year.  A few days later, however, they started backing away from their commitments.

Why Trade?

If you’re like me, you have a long shopping list this holiday season.  But have you ever stopped to think where the products you purchase come from? Chances are, those flowers you ordered online came from flower farms in Latin America.  The hand-crafted bracelet you bought in a department store could have come from Bali or even India. This is not just a sign of the times.  Over the past three centuries, the levels of access people have had to goods, services and even each other has risen dramatically.