President Obama supports export initiatives

Specialty Fabrics Review | May 2010

U.S. President Barack Obama wants to double exports of American goods during the next five years, the goal for an ambitious National Export Initiative outlined in March. The executive order calls for financial assistance to companies that want to export, eliminating overseas trade barriers and encouraging countries with a large trade surplus with the U.S. (such as China) to focus energy on domestic consumption. He has created an Export Promotion Cabinet, including the Secretaries of State, Treasury, Agriculture, Commerce, Labor and U.S. Trade Representative Ron Kirk. The initiative does not target specific strategies to the textile industry. For more, visit www.whitehouse.gov/the-press-office/executive-order-national-export-initiative.

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