Yesterday, President Bush met with the President’s Export Council to discuss the crucial contributions of trade to the American economy. Last year, the U.S. exported a record $1.6 trillion in goods and services to countries around the world, and in the past four quarters, trade has accounted for more than half of the growth in the U.S. economy. For the first half of 2008, the United States exported $926 billion worth of goods and services, 18 percent higher than the same period in 2007. The growth in exports has helped to strengthen the American economy.

·                 American goods and services are extremely competitive, and our exports are thriving in markets around the world. Goods and services exports in July were a record $168 billion, 20 percent higher than July 2007.

·                 The U.S. trade surplus has quadrupled with countries that have become FTA partners under President Bush. When President Bush took office, the U.S. had FTAs in force with three countries; today, the U.S. has agreements in force with 14 countries as well as three approved by Congress but not yet in force. Exports have increased with every country with which the United States has an FTA. With all the countries with which the United States has implemented FTAs during the Bush Administration, the trade surplus has grown from $3.8 billion in 2000 to $21 billion in 2007.

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