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U.S. exports down slightly in June

The Commerce Department on Wednesday said the country’s exports of goods and services for June fell slightly to $188.6 billion, compared to $188.7 billion in May.

   The United States Commerce Department on Wednesday said the country’s exports of goods and services for June fell slightly to $188.6 billion, compared to $188.7 billion in May.
   U.S. Undersecretary of Commerce for International Trade Stefan M. Selig blamed the export numbers on “weak economic growth among our trading partners.” He emphasized that “there is work to be done to promote the world-class goods and services offered by U.S. businesses – small and large – to the 96 percent of consumers who live outside the United States.”
   The Obama administration is hopeful that the Trans-Pacific Partnership (TPP), which is currently being negotiated between the United States and 11 countries within the Asia-Pacific region, will further stimulate U.S. exports once ratified.
   The White House also continues to tout its National Export Initiative, which the president launched in 2010. The Commerce Department noted that last year U.S. exports reached a record $2.34 trillion.
   “Those exports accounted for 13.5 percent of total GDP, compared to 7.5 percent 30 years ago,” the department said.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.