Highlighting his goal of doubling U.S. exports over the next five years, President Barack Obama on Thursday will create a new Export Promotion Cabinet and task the Chief Executives of Boeing and Xerox Co. with leading a private-sector advisory panel on international trade.
A White House official said Obama will outline new details of his National Export Initiative in a speech at the Export-Import Bank's Annual Conference. He will also sign an executive order establishing the Export Promotion Cabinet, a group that will include the Departments of State, Commerce, Treasury and other agencies. The order will re-establish the President's Export Council, which will be led by Boeing's Jim McNerney and Xerox's Ursala Burns. A White House official said the goals of Obama's export initiative include helping businesses get access to financing, enforcing existing trade agreements and promoting U.S. companies overseas. "The president is also committed to opening new markets, protecting our intellectual property by employing new technology, and encouraging public-private partnerships to help American businesses grow their exports and create more jobs," the official said. Obama unveiled his plan to double exports during his State of the Union address. While business groups laud the goal, many are pushing for more action on trade, including the passage of long-pending trade deals with Colombia, South Korea and Panama, and the resolution of a dispute with Mexico over cross-border trucking. Commerce Secretary Gary Locke and U.S. Trade Representative Ron Kirk also will speak at Thursday's conference.
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