Every Nation wants to build a robust economic structure for sustainable growth and development of the country. It is the fundamental duty of any Nation to provide opportunities to its people to achieve a good standard of living and helping the country to earn foreign remittances, which is only possible through more and more export.
Thus, this initiative was no less than a boon for the people of the United States as it increased the job opportunities for people and gave them versatile options in the area of Trade. Tools, assistance, and funding from the government made it easier for small business enterprises to enter into export.
It put together federal and sector systems into a global administrative structure.
To provide legal, economic, and financial guidance to small and big enterprises for export promotion.
The government-linked banks and financial institutions provided loans and other financial help to people at a lower interest rate.
The social development through the creation of new market places made trading feasible for the individuals.
To remove trade barriers and achieve the mission, ‘American Export,’ the federal government made many new provisions and increased trade advocacy.
Departments under National-Export Initiative
To achieve all the goals and make this trading mechanism work smoothly without any chaos, the government formed a cabinet comprising different departments with separate roles in promoting export. This cabinet consists of a minimum of fourteen head branches, agencies, and offices.
The United States Department of State: It manages foreign Trade policies and international connections between countries around the globe.
The Secretary of Agriculture: This department includes many other organizations that manage forest services, food safety, and improve exports of agricultural products by assisting farmers with the latest machinery and other facilities.
The Trade and Commerce Department: The Secretary of commerce directly reports to the President concerning all the essentials rules and provisions related to increasing American export and businesses.
The US Trade Representative: US trade representative acts as President’s advisor and negotiator, and it holds a cabinet position and works as an arbitrary body.
United States Trade and Development Agency: These are executive and regulatory agencies of the federal government that can make rules and amend them from time to time.
The facts and figures depict the achievements of the policies made to increase the trade. As per the fact sheet, United States trades 95% of its goods throughout the world. The country made historical progress by the end of the year 2014 as planned.
Job opportunities increased along with an increase in other areas of production. The boom in the economy made the United States the most stable and renowned country among the rest. From aerospace to agriculture, all the sectors were moving ahead with modern methods and technology, which increased export throughout the world.
The administration took many efforts towards achieving its goals by educating the exporter’s methods to increase sales and curbing unfair trade practices.
The GDP of the country in 2012 was 13.9\%13.9%, along with a recorded victory in exports reaching $. 2.2trillions.
There was a commendable increase in the manufacturing of goods and services between 2009-2102, which was approximately 47\%47%, around $ 1.3 trillion.
Sectors like aerospace, automotive vehicles, services, etc., US is setting new records in trading overseas, which brought notable growth in the national economy.
Travel and tourism and agriculture both achieved growth in the economy by creating job opportunities for people directly or indirectly related to these sectors for assistance.
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