Ken Hyatt, Acting Under Secretary of ITA at the Health IT Trade Mission in Brazil
Trade: Providing Growth for American Businesses
Ken Hyatt is the Acting Under Secretary of Commerce for International
have been paying attention to the domestic and global debate taking place over
trade, you understand how complex this discussion can be. The arguments in
favor of trade often involve discussing public policy, global markets, and
economic realities. But sometimes the arguments for trade and investment can be
made by just looking at the numbers, because sometimes the numbers truly tell
3.2 billion. That is the number of middle
class consumers who will reside in the Asia-Pacific by 2030, comprising
two-thirds of the global middle class. That is why we are invested in making
the Trans-Pacific Partnership (TPP) a reality, a groundbreaking trade agreement
that will allow U.S. exporters to access this pool of future consumers. More to the point, according to the
President's Export Council, which advises
the President on trade policy, the single most important step the United States
Government can take to promote increased U.S. exports and the continued
recovery and growth of the U.S. economy is to secure passage of TPP this year. So that is why we launched our TPP Country Webinar Series
to inform stakeholders of commercial opportunities, as well as provide insight
into strategies for increasing competitiveness inside our TPP partner markets. The next and final session will focus on Vietnam and take place on October 5th.
You can register
by clicking here. We also created a suite of materials that outline the benefits of TPP
by industry sector, partner market, and for each of the 50 states.
trillion. That is the value of goods exports that were
shipped out of the country's
388 metropolitan areas in 2015. 156 metro areas exported $1 billion or more
in goods last year as well, with 14 of them exporting more than $20 billion.
And despite the headwinds we saw in the global marketplace last year, 63 metropolitan
areas achieved record goods exports in 2015. Click here for a
full report outlining metro export data for 2015.
billion. That is the value of trade and investment
mobilized at this year's
U.S.-Africa Business Forum, a forum dedicated entirely to deepening trade
and investment ties and cultivating business opportunities between the U.S. and
the African continent. That $9.1 billion included a deal involving the U.S.
construction and mining equipment manufacturer, Caterpillar, which announced a
$1 billion investment expansion in business, education, and skills training
across Africa. Two related relevant numbers are 5 and 18, as in 5 African heads
of state and 18 CEOs participated in the East African
Heads of State and CEO Roundtable, which was held on the margins of the Business
Forum, to discuss business development, investment opportunities, and economic
The U.S and Brazil possess the two largest private healthcare insurance markets
in the world. I was reminded of that last week when I
participated in a Health IT trade mission to Brazil.
I was proud to take part in a mission that brought 9 leading U.S. health
solutions providers to share their products and practices with Brazilian
counterparts and stakeholders. The trip was a reminder of the fact that deeper
healthcare cooperation will not only mean supporting our businesses and
workers. It means better confronting the healthcare challenges we have in our
own countries as well as complex global health challenges, including the Zika
Finally, there is the number 1. One agency that supports
American exporters every day; an agency of 2,200 staff that includes the trade
and industry specialists located in our Washington, DC headquarters, in our
U.S. Export Assistance Centers in over 100 American cities, and in our Foreign
Commercial Service offices in over 75 markets. All of them stand ready to support your export needs,
and in the process help bring prosperity to American workers and growth for
Now more than ever, U.S. businesses know how important it is to take advantage of export opportunities around the world. From coast to coast, businesses are selling their world-class goods to the more than 95 percent of potential customers who live outside our borders. The 2015 Metropolitan Area Export Overview is a clear indicator of this movement, as many cities have increased exports or even set records.