TRADE FOR AMERICA
What Does Trade Mean for American Workers and Families?
When America trades goods and services with other countries, it promotes economic growth and creates jobs in all 50 states by facilitating American businesses’ access to international markets. In 2016, trade —exports and imports of goods and services— supported nearly one in five U.S. jobs. Trade with other countries also makes goods more affordable for U.S. customers. Through reduced tariffs, American families saved as much $13 billion in 2014.
In 2016, nearly 36 million jobs were supported by exports and imports, and total trade represented 27 percent of GDP.
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.
Approximately 6 million American jobs are supported by U.S. manufactured goods exports to other countries. In fact, blue-collar workers in export-intensive manufacturing companies earn a 19 percent wage premium compared to the average manufacturing salary.