AAPC: U.S. Auto Sector’s Doubling Of Exports

2American Automotive Policy Council President Governor Matt Blunt issued the following statement on new numbers showing that the U.S. automotive sector has more than doubled its exports in the last five years (2009-2014) from $68.09 billion in 2009 to $141.22 billion in 2014, according to official U.S trade data: “The data is in and it overwhelmingly demonstrates how vital auto manufacturing is to the overall U.S. economy. The automotive sector represents the nation’s No. 1 export industry and is responsible for driving job making and economic growth across the country. This news is further evidence of the economic significance of U.S. exports to job formation and a fast-growing economy. “In addition, increased exports have far reaching impacts on the economy overall. FCA US, Ford and General Motors produce more of their vehicles, buy more of their parts, conduct more of their research and base more of their workers in the United States than their competitors. These differences represent billions of dollars in investment and purchases, representing millions of American jobs.

“This significant milestone also spotlights the need to ensure all trade agreements help generate economic growth in the U.S. As America’s largest export industry, we realize the potential of trade pacts such as the Trans-Pacific Partnership to achieve this. However, even the most promising trade pacts can be threatened by other countries’ use of currency manipulation practices to gain an unfair advantage. To continue the growth of the last five years over the next five years, it is now more important than ever that strong and enforceable currency rules are included as part of any major trade agreement.”