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 user 2010-03-15 at 12:02:35 pm Views: 34
  • #23456
    Obama taps Boeing, Xerox chiefs to
    lead export body

    President Barack
    Obama, anxious to spur growth and tackle unemployment, will name two top
    executives from Boeing and Xerox on Thursday to spearhead his drive to
    boost U.S. exports, the White House said.

    Obama, who pledged in
    his State of the Union address to double U.S. exports over five years to
    support 2 million jobs, will make the announcement in Washington when
    he speaks to the Export-Import Bank’s annual conference on his trade
    strategy.A White House official said Obama would name Boeing Co
    president and chief executive Jim McNerney and Xerox Co chief executive
    Ursula Burns to lead the President’s Export Council.Founded in 1973 by
    former President Richard Nixon, the council is a key forum for the
    private sector to communicate its trade views to the U.S.

    Obama will also create a new Export Promotion
    Cabinet, drawn from government departments including Treasury, State,
    Commerce and Agriculture in support of his efforts, the White House
    said.Trade is a central part of Obama’s drive of shift Americans away
    from an over-reliance on borrowing and consumption, replacing those
    sources of economic activity with investment and greater exports to the
    rest of the world.Exports could help the United States recover from the
    worst recession in 50 years, caused by the collapse of the country’s
    housing market, and unemployment at a towering 9.7 percent.

    critics say Obama has not backed up his words with action to advance
    free trade agreements with Panama, Colombia, and South Korea, and they
    are skeptical that his top-down initiatives to lift exports will deliver
    results.”Beyond another bureaucratic incarnation — in the form of a
    new “Export Promotion Cabinet” — the details for achieving that growth
    in exports are missing,” Republican Senator Chuck Grassley said in
    congressional testimony last week during hearings on Obama’s 2010 trade

    Some members of Obama’s Democratic Party are hostile to
    further trade deregulation and blame deals done in the past for costing
    American jobs.Obama’s Thursday export speech will be followed on Monday
    by the first round of talks on the Transpacific Partnership in
    Melbourne. Obama has said the TPP will set the standard for future U.S.
    trade deals, with greater protection for workers and the environment
    than was previously the case.