95 percent of the world’s population and 80 percent of the world’s purchasing power is located outside of the United States. For American businesses and workers, trade helps them tap into the immense potential of the international economy, connecting the U.S. to the rest of the world.
Customers in 235 countries and territories buy U.S.-made goods and services. U.S. exports have grown nearly 60 percent faster than GDP since 2006.
Future economic growth and jobs for the United States increasingly depend on expanding U.S. trade and investment opportunities in the global marketplace.
International trade, including exports and imports, supports 36 million U.S. jobs – nearly 1 in 5. These trade-related jobs grew nearly 4 times faster than total employment from 1992 to 2016, created at small companies, farms, factories, and at the headquarters of globally engaged firms.
Approximately 6 million American jobs are supported by U.S. manufactured goods exports to other countries. Blue-collar workers in export-intensive manufacturing companies earn a 19 percent wage premium compared to the average manufacturing salary.
Trade benefits consumers as well. With free trade agreements, American consumers enjoy higher quality goods, more options, and lower costs.
Through lower tariffs created by trade agreements, American families saved as much as $13 billion on goods like clothes, computers and refrigerators in 2014.
In fact, imports increase purchasing power and real wages, effectively allowing families to spend $10,000 more each year.
Take the North American Free Trade Agreement (NAFTA) for example. Trade with Canada and Mexico supports 11 million U.S. jobs.