2023 Year in Review: ITA Highlights Top Accomplishments to Advance President Biden’s Trade Agenda

FOR IMMEDIATE RELEASE
Friday, January 26, 2024
Contact: Office of Public Affairs
Email: publicaffairs@trade.gov
Phone: 202-482-3809

WASHINGTON — Today, Under Secretary of Commerce for International Trade Marisa Lago released a statement about the International Trade Administration’s (ITA) top accomplishments in 2023, delivering on the Biden Administration’s commitment to strengthening the competitiveness of U.S. businesses and workers.

“Last year was an extraordinary and consequential year in international trade. ITA’s global team of industry and trade professionals helped U.S. businesses of all sizes and sectors succeed across the globe,” said Under Secretary Lago. “ITA continues to advocate for U.S. businesses and workers so that they can compete and thrive in the 21^st century global economy. In 2024, we look forward to helping U.S. firms reach even more consumers in the global marketplace.”

In Fiscal Year 2023, ITA:

Facilitated nearly $127 billion in U.S. export revenue, which supported approximately 560,000 American jobs.
Assisted more than 92,000 U.S. business clients in exploring export opportunities in global markets, including micro and small businesses, as well as women, minority, veteran, disabled and LGBTQIA+ owned businesses, and other entrepreneurs from underserved communities. ITA also opened seven new regional Rural Export Centers across the country to increase exports by businesses from rural communities.
Facilitated $55 billion in client-verified foreign direct investment into the United States, supporting more than 35,000 U.S. jobs. For the 11^th consecutive year, the United States retained its rank as the #1 destination for global business investment. Since the SelectUSA program began in 2011, the U.S. Department of Commerce has secured more than $200 billion in client-verified FDI that has supported more than 200,000 U.S. jobs.
Delivered on President Biden’s Indo-Pacific Strategy by substantially concluding negotiations on landmark agreements under the Indo-Pacific Economic Framework for Prosperity (IPEF) with 13 partner nations. These agreements aim to address 21^st century challenges related to supply chain resilience, the transition to cleaner economies, and promoting a fair and transparent business environment. In so doing, we are strengthening U.S. economic engagement in one of the world’s fastest-growing regions.
Established a new, first-of-its-kind Supply Chain Center integrating industry expertise and data analytics to develop innovative supply chain risk assessment tools and drive targeted action to increase the resilience of critical supply chains. The Center, housed within ITA’s Industry and Analysis unit, is proactive in getting ahead of supply chain challenges, strategic in setting priorities for policy action, a force multiplier in improving the effectiveness of U.S. Government investments, and a partner to industry in building resilient supply chains and supporting U.S. businesses to lead the industries of the future.
Defended U.S. workers and businesses against unfair trade practices. ITA’s Enforcement and Compliance unit administered 670 anti-dumping and countervailing duty orders and successfully closed 46 compliance cases in fiscal year 2023. ITA levels the playing field for U.S. businesses and workers in foreign markets by countering unfairly traded imports and upholding U.S. rights under trade agreements.
Relaunched the National Export Strategy and the President’s Export Council. ITA released the 2023 National Export Strategy that outlines the export promotion activities and priorities across top U.S. industry sectors. These include travel and tourism, manufacturing, international education, infrastructure, and agriculture. This strategy was released by Commerce Secretary Gina Raimondo during the inaugural meeting of the newly reconstituted President’s Export Council (PEC), a Presidential advisory committee administered by ITA and comprised of trade experts from across the industry, labor and non-profit sectors. The PEC provides recommendations to the President through the Secretary of Commerce. The PEC informs ITA’s policies to expand exports and ensure that all U.S. companies can compete and succeed in international markets.
Protected and defended America’s national security. ITA provided critical industry expertise to help U.S. industries compete abroad, strengthen global supply chains vital to U.S. national security and economic competitiveness, and screen foreign investments in the United States to protect national security. ITA is lending its unrivaled sector-specific industry expertise to prevent U.S. private capital from financing adversary advances in critical sectors that undermine U.S. national security, focusing especially on protecting technologies that are critical to the next generation of military innovation. In 2023, this meant leading Department of Commerce work to support the Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern. In collaboration with the White House and the U.S. Treasury Department, ITA’s work helps to address this national security threat by safeguarding our most sensitive technologies, and has been informed by robust and sustained engagement with industry and other stakeholders.
Strengthened trade partnerships through commercial diplomacy. ITA participated in numerous trade missions, executive forums, trade shows, and bilateral and multilateral engagements across the country and the globe. Notable activities included leading the U.S. government’s largest trade mission, Trade Winds ASEAN; reconstituting the U.S.-Brazil and U.S.-India CEO Forums; launching a U.S.-UK Tech and Data Dialogue; participating in the inaugural meeting of the U.S.-Egypt Joint Economic Commission; and opening a new U.S. Foreign Commercial Service office in Guyana.
Expanded Opportunities for Diverse U.S. Exporters. ITA remains committed to ensuring that the benefits of exports are distributed equitably. Through its Global Diversity Export Initiative (GDEI), ITA is ensuring that U.S. businesses from all communities have knowledge of and access to federal resources to increase their export sales, including women, minority, veteran, disabled and LGBTQIA+ owned businesses. In 2023, ITA led outreach events in over 30 communities across the United States – including historically under-served communities – that provided in-person support and resources to identify export opportunities, remove trade barriers and obtain trade relief against unfair competition. ITA also expanded relationships with national chambers of commerce and other business associations to maximize reach into underserved business communities. Building on ITA’s trade and investment commitments made at the 2022 U.S.-Africa Leaders Summit, ITA organized a historic trade mission of U.S. diverse-owned business and small business leaders to Ghana, Nigeria and South Africa, which facilitated over 350 business-to-business and business-to-government meetings, deepening commercial partnerships on the continent.
Modernized Data Privacy Regimes. After two years of intensive negotiations, U.S. companies conducting business with the European Union now benefit from the newly launched Data Privacy Framework (DPF) program. The DPF facilitates safe and secure flows of personal data from the EU to the United States in compliance with EU law. ITA also launched a U.S.-UK Data Bridge that allows companies to use the DPF to cover secure data transfers from the United Kingdom and is working to bring into force a program allowing data transfers from Switzerland under the DPF. Transatlantic data flows are estimated to underpin more than $1 trillion in trade and investment annually, and more than 2,500 companies from all sectors, primarily small and medium enterprises, are participating in the DPF.
Showcased U.S. Climate and Clean Tech Industry Innovation. As part of ITA’s clean tech export strategy to combat the climate crisis and accelerate the net-zero transition, Under Secretary Lago led ITA’s largest-ever delegation to the United Nations Climate Conference (COP28) to elevate U.S. industry leadership and partnerships. This included engagements with foreign officials and nearly 200 U.S. companies, industry associations and non-government organizations. Additionally, ITA facilitated 13 Memoranda of Understanding between U.S. companies and the United Arab Emirates (UAE) to accelerate the clean energy transition, thereby making progress under the U.S.-UAE Partnership for Clean Energy (PACE).

###

About the International Trade Administration
The International Trade Administration (ITA) at the U.S. Department of Commerce is the premier resource for American companies competing in the global marketplace. Operating in more than 100 U.S. locations and 80 markets worldwide, ITA promotes trade and investment, assists U.S. businesses and workers to export and expand globally, and ensures fair trade and compliance by enforcing U.S. trade laws and agreements. For more information on ITA, visit www.trade.gov.