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NEWS ABOUT: US exports

US Becoming Net Fuel Exporter

More going out than coming in for first time since 1949

(Newser) - This is going to be the first year since 1949 in which America exports more fuel than it imports, thanks to sagging demand at home and booming economies elsewhere. The US still imports around 9 million barrels of crude oil every day, but soaring exports of refined petroleum products are... More »

10 Industries the US No Longer Rules

We're No. 2! We're No. 2!

(Newser) - When it comes to business, Americans have long been used to being on top—but oh, how the mighty have fallen in some arenas. 24/7 Wall Street breaks down the top 10 industries in which "Made in the USA" doesn't dominate as it once did:
  • Autos—High labor costs
... More »

US, South Korea Cut Trade Deal

Could mean tens of thousands of jobs for US

(Newser) - The Obama administration has completed a free-trade agreement with South Korea that it expects to jack US exports by billions and create at least 70,000 jobs. The deal, the largest since NAFTA 16 years ago, was reached yesterday after trade reps for both sides reached a deal on automobile... More »

World Scrambles to Boost Buck

Weak dollar doesn't help anyone—except the US

(Newser) - Central banks around the world are stepping up measures to keep the American dollar strong and their own currencies weak. The dollar 's drop to near 15-month lows this week sparked fears that exports will become uncompetitive, threatening their fragile economic recoveries. Pacific Rim countries are especially concerned that China—... More »

Big Biz Slams 'Buy American' Stimulus Clause

Exporters warn of foreign backlash if package erects free-trade barriers

(Newser) - American exporters are fighting to ditch "Buy American" provisions from the economic stimulus package, the Washington Post reports. The House version bars most foreign iron and steel from stimulus projects, while a Senate version calls for only American-made equipment and goods to be used in nearly all projects to... More »

Skirting Laws, Iran Buys Bomb Parts From US Firms

Materials used to make top weapon against US troops

(Newser) - Through front firms and complex maneuvering, Iran skirts trading laws to buy bomb parts from US companies, the Washington Post reports. The equipment allows production of improvised explosive devices, or IEDS, bombs that are the leading killer of US troops in Iraq, according to Justice Department documents and a new... More »

Going Global Juices Cranberry Biz

Farmers raking it in after successful campaign to sell US berry to the world

(Newser) - America's cranberry farmers have turned sour times around with a push to bring the berry to the world, the New York Times reports. Eight years ago, farmers were faced with a glut of berries, but now, with almost a third of the crop being exported to nations who have been... More »

America's Real Financial Crisis? It's Debt

US can't safely sell $700M in securities

(Newser) - Washington must stop selling debt as its top export if it wants to solve today's financial crisis, Justin Fox argues in Time. Political talk of the nation's staggering $731 billion deficit often centers on trade pacts and exchange rates. But "if the US simply stopped borrowing so much—if... More »

Rally Fizzles Despite Oil's Drop

Traders becoming more focused on economic strength than fuel

(Newser) - An early rally faded today and the markets closed with mild losses, the Wall Street Journal reports. Oil fell $5.75 as Gulf Coast oil-production facilities appeared to have emerged mostly unscathed from Hurricane Gustav, but the news failed to give equities lasting momentum. The Dow closed down 26.63,... More »

Farms Fuel Boom in US Exports

Strengthening dollar could trim growth of sales abroad

(Newser) - Worldwide demand for grain and a weak US dollar helped drive exports up 7.1% in the first half of the year, providing a respite from the barrage of negative economic news. But experts warn the commodity-driven rise could be brief, reports the New York Times. Export surges of agricultural... More »

Distillers Like Taste of Bourbon Boom

Weak dollar, rising exports help fuel spike in sales

(Newser) - Kentucky bourbon is popular in the likes of Russia and China as drinkers worldwide flock to the US drink, the AP reports. A weak dollar, rising exports, and a bourbon trend among young Americans are also fueling the boom. "Younger consumers are interested in drinks that were, you might... More »

US, S. Korea Reach Beef Deal

Imported US meat must come from cattle younger than 30 months

(AP) - All US beef imported into South Korea will come from cattle less than 30 months old, officials said today, in a deal made to placate South Korean protesters worried about mad cow disease. Nonetheless, thousands of protesters returned to the streets of Seoul, calling for a complete renegotiation of an... More »

FedEx Chief: Exports Will Stave Off Recession

CEO says increased globalization in high-tech a boon to struggling economy

(Newser) - Strength in high-tech US manufacturing and the globalization of the market has helped the US avoid a recession, with its exports being driven by a weak dollar, FedEx CEO Fred Smith told the Financial Times today. And, he said, as emerging economies continue to grow, so will US exports, even... More »

Detroit Looks to Pump Up Exports

US automakers say cheap dollar, low-cost labor puts them in driver's seat

(Newser) - The dollar’s declining value, lower labor costs, and other terms of new UAW deals have US automakers looking overseas as they attempt to reclaim market share and profitability, reports the Wall Street Journal. About half of US vehicle exports in 2007, which totaled $50.66 billion, went to Canada... More »

US Parts End Up in Insurgents' Bombs in Iraq

US technology exports to UAE getting diverted to Iraq via Iran

(Newser) - A year ago American technology started turning up in roadside bombs used to attack US troops in Iraq, the New York Times reports, and the rogue computer circuits were tracked to the United Arab Emirates. There investigators found the UAE's controls so lax that sensitive technology imported from the US... More »

A Vintage Year for Wine Exports

California vintners take advantage of a weak dollar to expand overseas market

(Newser) - The dollar’s decline is a boon for California winemakers, who’ve turned the greenback’s challenges into opportunities, expanding exports of everything from top vintages to bulk table wines, reports the Los Angeles Times. California wine exports, 95% of the wine the US sends overseas, jumped 9% to nearly... More »

Oil Sends Trade Deficit to 14-Month High

Soaring crude prices overshadow strong growth in US exports

(Newser) - The trade deficit widened 9.3% to $63.1 billion in November, despite a healthy growth in exports. With the dollar down, and demand for US goods rising in Asia and Latin America, exports moved at a healthy clip. But spending on imported oil overshadowed everything else, Bloomberg reports. “... More »

Is the Worst Over for the Dollar?

Experts predict modest rise for greenback in '08

(Newser) - After a year that saw the dollar slip to record lows against the euro and its weakest position in decades, the worst might be over for the beleaguered greenback. A survey of 42 strategists by Bloomberg found nearly unanimous consensus that the dollar is set for a gain, with a... More »

Quality Boosts US Exports

Experts credit weak dollar, manufacturing know-how for surge

(Newser) - The sinking dollar is fueling a booming export market in tractors, medical equipment, and electrical machinery, helping some US manufacturers overcome a falloff in domestic sales, reports the Washington Post. The trend may even help reduce the trade deficit: For 2007, US exports are projected to increase even more than... More »

China Looks to Buy American

Seeks investments to adjust yuan growth; US official set for talks

(Newser) - China, increasingly being called upon to more rapidly adjust the growth of the yuan against the dollar, is looking to expand its investment in US assets as a way to funnel its powerhouse currency out of the country, Bloomberg reports today. Treasury Secretary Henry Paulson visits Beijing Wednesday for a... More »

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