President Barack Obama is scheduled to unveil a report Wednesday showing the U.S. is on track to double exports in the next five years and name the chief executives of United Parcel Services Inc., Walt Disney Co., Pfizer Inc. and other firms to a presidential advisory board on trade issues.
Other large, publicly trade companies that will be represented on the council include Metlife Inc., UAL Corp., Dow Chemical Co. , Ford Motor Co. , Verizon Communications Inc. and Archer Daniels Midland Co.
The report shows that in the first four months of 2010, exports were up 17 percent from the same period last year, according to a copy of the report.
“Boosting America’s exports strengthens our economic growth and supports millions of good, high-paying American jobs,” Obama is expected to say Wednesday while announcing the report, according to a copy of his prepared remarks.
Obama on Wednesday will name 18 members to his Export Council including those already mentioned. The appointees include a union leader, medium-sized business leaders and a co-president of the private-equity firm Warburg Pincus.
Obama had pledged in his State of the Union address to double exports in the next five years, saying doing so would help support several million jobs.
The Obama administration is trying to carry momentum from recent trade successes involving poultry, pork and planes to push for expanded trade with medium- and small-sized business.
In March, the U.S. and China agreed to reopen the Chinese market to U.S. pork and pork products. The U.S. also inked a deal in June with Russia to reopen the country for poultry products after a six-month ban, a move that immediately lifted the share prices of U.S. chicken producers such as Pilgrim’s Pride Corp. and Sanderson Farms Inc.
U.S. Commerce Secretary Gary Locke Tuesday told reporters at the White House that the government was now trying to shift some of its focus on expanding trade toward small and medium-size businesses. About 58 percent of U.S. companies export to only one country, he said. He said if the government can get these companies to expand trade to another country it will definitely reach Obama’s goal of doubling exports in the next five years.
