The U.S. Commerce Department has reported that exports of goods and services in August decreased to $185.1 billion from $188.8 billion in July.
The U.S. Commerce Department has reported that exports of goods and services in August decreased to $185.1 billion from $188.8 billion in July, despite noticeable increases in exports of financial services, telecommunications, computers, information services and insurance services.
Commerce’s International Trade Undersecretary Stefan M. Selig said the data shows that U.S. exports still “face global economic headwinds.”
However, the Obama administration believes U.S. companies will see their exports increase as the recently concluded 12-nation Trans-Pacific Partnership is implemented.
“The Trans-Pacific Partnership will strengthen the hand of American workers and ensure that our businesses can compete on a level playing field in some of the world’s most significant markets,” Selig said in a statement. “The Commerce Department played a critical role in the TPP negotiations and we look forward to ensuring U.S. companies are able to capitalize on the benefits of this agreement once it is approved.”
U.S. exports decline in August
