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Ambassador Schwab statement on U.S. Trade Deficit

October 11, 2007



“Strong export expansion is lending critical support to the U.S. economy right now.  Exports have accounted for 40% of U.S. economic growth over the last 4 quarters.  The U.S. trade deficit has also declined 9% so far this year, compared to last.  Removing barriers and expanding trade supports productivity and income growth, and better paying jobs in America.  Trade agreements reduce barriers to global markets, expand trade, spur development  and benefit U.S. consumers, workers, companies, farmers and ranchers.”