The automotive sector represents the nation’s No. 1 export industry and is responsible for driving job creation and economic growth across the country. The U.S. automotive sector has seen its exports rise by 76% since 2009.
Each year, Ford, General Motors, and Stellantis export about 1 million American-made vehicles to more than 100 different foreign markets. This is further evidence of the economic significance of U.S. exports to job creation.
Increased exports have far reaching impacts on the economy overall. Ford, General Motors and Stellantis produce more of their vehicles, buy more of their parts, conduct more of their research and base more of their workers in the United States than their competitors. These differences represent billions of dollars in investment and purchases, representing millions of American jobs.
Automaker and Supplier Exports (in billions)
The U.S. automotive sector has seen its exports rise by 76% since 2009.
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Toyota chief urges Detroit Three to list complaints
Toyota Chairman Takeshi Uchiyamada on Monday challenged Detroit-based automakers to spell out exactly what barriers they face selling in Japan’s market as negotiations between the United States and Japan on a regional free-trade pact intensify.
“We would like to hear specifically what kind of problems they are seeing. And listening, we’d like to work together in a forward-looking way, including confirming what they’re saying is a fact,” Uchiyamada told reporters after a speech to the Economic Club of Washington.
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Currency manipulation at issue in Pacific free-trade talks
The Obama administration is racing to finish negotiations on a Pacific free-trade pact by year's end, but it's running up against a potentially major obstacle at home.
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Senate Currency Letter Signatures Show Strong Finance, Banking Support
A Senate letter demanding that the Obama administration include disciplines on currency manipulation in trade agreements, including the Trans-Pacific Partnership, has attracted 60 signatories, with more than half of them from the Banking, Finance and Foreign Relations committees.
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Senators urge Obama to address currency manipulation
A bipartisan group of 60 U.S. senators on Tuesday urged the Obama administration to address foreign currency manipulation in the Trans-Pacific Partnership trade talks.
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Stabenow and colleague urge caution on trade deal
A group of 60 senators, led in part by U.S. Sen. Debbie Stabenow, D-Mich., have sent a letter to Treasury Secretary Jacob Lew and the U.S. trade representative asking that concerns about foreign currency manipulation be addressed in talks related to a Pacific Rim trade agreement.