Obama Asks Trade Nominees to Reverse Slump in US Exports Gains | White & Case LLP International Law Firm, Global Law Practice
Obama Asks Trade Nominees to Reverse Slump in US Exports Gains

Obama Asks Trade Nominees to Reverse Slump in US Exports Gains

In hopes of spurring export growth, the US has commenced legal proceedings at the World Trade Organization (WTO) against nations such as China and India, which they believe are engaging in unfair competition that hampers the trade of US exports. The proceedings are in line with supporting President Obama's National Export Initiative, which aims to double the sale of goods and services overseas and thus add up to two million new jobs to the US economy by the end of 2014.

"It's not simply a matter of filing a WTO case and then doubling your exports," Scott Lincicome, a trade lawyer with White & Case LLP Washington, said in a phone interview. The success of a nation's exports depends on macroeconomic conditions, and to significantly boost sales abroad the US will need to take steps including reducing its debt, he said. "Until you do those things, you’re kind of at the whims of the market gods."