With political tension in Washington and economic troubles nationwide, Americans are preoccupied with one thing–jobs.
According to the Bureau of Labor Statistics, the unemployment rate in the US stayed at 9.1% this month, meaning that 14 million Americans are out of a job.
On September 8th, President Obama delivered a speech that introduced the American Jobs Act and spoke about fostering business growth, remarking, “If American’s are driving Kias and Hyundais, then I want to see folks in South Korea driving Fords.”
Obama emphasized again and again the opportunities lying abroad for American business and the need for American business to embrace exporting as an essential factor in economic growth.
Already the administration has eased export control regulations, simplifying trade between the US and Canada and making it easier for American companies to sell military and duel-use technologies abroad. By instating a tiered export regulation system, more products are cleared for exporting and many loopholes that needlessly complicate exporting have been fixed.
Clearly, the Obama administration, in its quest to revitalize the economy, has turned to the prospect of exporting as a way to encourage economic growth in America. “Made in America” doesn’t have to become an unknown phrase in the international economy.