February 04, 2010

Wyden Responds to Launch of National Export Initiative

Washington, D.C. - U.S. Senator Ron Wyden (D-Ore.), Chairman of the Senate Finance Committee's Subcommittee on International Trade, released the following statement today in response to Commerce Secretary Locke's speech announcing the launch of the National Export Initiative:

"I applaud Secretary Locke's remarks, which demonstrate that the Obama Administration is serious about establishing a long-term, coherent export expansion strategy. The President's National Export Initiative is an effort that our economy has needed for decades. Too few American businesses are taking advantage of existing opportunities to export American goods and services to foreign markets, which is one of the reasons that the U.S. lags behind most developed countries in terms of its reliance on exports. With U.S. consumption decreasing in recent months, it is vital that we launch a concerted effort to help U.S. producers take full advantage of foreign demand for their goods and services.

"I feel confident that I speak on behalf of all my colleagues - who recently joined me in urging the President to launch an export promotion initiative - in saying that the efforts begun by the NEI will play an important role in reshaping the U.S. economy. Small and medium-sized businesses and their employees will benefit from the opportunities that foreign markets present to American goods and services. In my mind, these opportunities represent our single greatest opportunity for creating good-paying American jobs.

"I look forward to working with Secretary Locke, the President, and his cabinet to move legislation to support this initiative on Capitol Hill, and to establish the short- and long-term benchmarks that are needed to measure the effectiveness of our efforts."

A copy of the letter Wyden sent along with other members of the Finance Committee to President Obama encouraging the creation of a targeted plan to increase exports can be found at: http://wyden.senate.gov/newsroom/export_strategy_jan2010.pdf