US to boost exports via USD$2 billion finance
Friday, 12 March 2010
US president Barrack Obama has unveiled plans to put USD$2 billion into export financing through America's Export-Import Bank.
This financing will help improve American exporters' competitiveness by giving them finance to export US goods, the Washington Post reported.
To lift export performance, America may also lift export restrictions on some high-end technology goods.
If successful, the president said, the programme would create 2 million jobs.
Last year, US exports fell to USD$1.5 trillion from a peak of more than USD$1.8 trillion in 2008.
According to the paper, US exports began to rebound in the latter half of 2009 but Obama's goal could prove difficult without the opening of new markets.