Trade is essential to America’s economic growth, high standard of living, and
job creation in the states. The U.S. is the world’s largest trading nation,
exporting nearly $1.3 trillion in goods and services in 2005. Over one-fifth of
the growth in U.S. GDP depended on exports in 2005. Domestically, manufacturing
exports supported an estimated 5.2 million jobs (in 2002 - latest data),
including 1 in 5 manufacturing jobs. Jobs supported by goods exports pay 13-18%
higher than the average wage.
Every state in the Union depends upon trade for jobs. To give just a few
examples, over 700,000 jobs in California are supported by U.S. manufactured
goods exports. Nearly one-quarter of all manufacturing jobs in Massachusetts,
and nearly 20 percent of all manufacturing jobs in Michigan were supported by
exports (as of 2002). Iowa exported to 180 foreign markets in 2005 and is the
nation’s 2nd largest exporter of agricultural products, with exports valued at
over $4.0 billion.
Additionally, more than 5.1 million Americans have "insourced" jobs, drawing
their paychecks from U.S. subsidiaries of overseas-based companies (as of 2004).
Pennsylvania, for example, has 225,000 people employed by overseas-based
companies. Nearly 127,000 jobs in Tennessee and 71,000 jobs in Alabama are the
result of insourced jobs. Trade keeps our economy open, dynamic, and
competitive, and helps ensure that America continues to be the best place in the
world to do business.