Assignment:
In a recent State of the Union Address, the President of the United States announced the formation of the "National Export Initiative," an important endeavor that is necessary for long-term, sustainable economic growth for the country. The president's goal is to double exports within 5 years, which, it is hoped, should reduce unemployment by adding 2 million jobs.
This is the first time in history that the United States has put a real focus on government-wide export promotion.
Since then, the president has signed an Executive Order that formed the "Export Promotion Cabinet" within the presidential administration. The Department of Commerce is an important player in this initiative and is charged with making sure that U.S. businesses can actively participate in international markets by increasing their exports of goods, services, and agricultural products.
Individual Portion (1):
If you were a member of the Cabinet, what would you do to achieve these goals?
Address the following in 1,000-1,250 words:
1. Increase exports of small and medium-sized businesses.
a. What kind of programs should be put in place to improve information?
b. What kind of technical assistance should be given to first-time exporters?
i. What kinds of education do first time-exporters need to do business overseas?
c. How can the government assist these exporters with new opportunities in international markets?
2. What other kinds of assistance can the government give?
3. Where should the trade missions go, and why?
4. How can consumers help?
5. What will this mean for business costs?
6. How can the banks help?
a. What does the Export-Import Bank do?
7. What macroeconomic policies would be helpful?
a. Should the Fed involve itself more in the foreign exchange rate?
b. Should interest rates remain low?
8. How do you reduce barriers to trade? What issues do you think will come up in new markets, with old trade barriers and enforcement of current trade agreements?
9. How does the also increase services trade?
10. How does all this achieve the president's objective of reducing unemployment and increasing GDP?
11. Are there any risks to businesses with this new policy?
12. Are there any risks to U.S. fiscal, monetary, or trade policies?