Doubling Down on Exports

February 4, 2010

It is not surprising that a U.S. Secretary of Commerce who hails from the most trade dependent state in America would lead the charge to get America to double its exports over the next five years as Obama called for last week in his State of the Union speech.  Today, Gary Locke added detailed cargo to the rhetorical container ship Obama steered into the ocean of politics last week (or, uh, something like that). Locke calls the effort to double our country’s exports the National Export Initiative (NEI).  The NEI will increase funding for export promotion, put more emphasis on advocating for U.S. exporters’ interests overseas and create an Export Promotion Cabinet.   The effort also calls for providing more access to credit for exporters by increasing funding for the Export Import Bank from $4 to $6 billion to be chiefly aimed at small and medium size businesses. Read the rest of this entry »