hen we have the opportunity to sell American products and services around the world, we know we can compete -- and that means new jobs and a rising standard of living, the core of the American Dream.
President Bill Clinton
The Clinton Administration's trade policies are on the side of working Americans and U.S. businesses.
We have created a partnership with the private sector to grow our economy by opening up more opportunities to sell American goods and services in foreign markets and create high-wage jobs for American workers. We are monitoring our trade agreements to ensure that our trading partners are living up to their obligations.
As a result, America has had the highest growth of any major economy in the world over the last three years. Our economy has created 10.5 million jobs -- 93 percent of which are in the private sector. Over 60 percent of the 3.3 million new jobs created in 1994 alone were created by small companies. The unemployment rate is down to 5.1 percent. The combined rate of unemployment, inflation, and mortgage rates is at its lowest level since 1968.
President Clinton has stood up for American interests by implementing an aggressive policy to open new markets for U.S. exports and to create high-wage jobs in the United States. At the same time, he is monitoring and enforcing our trade agreements, ensuring that our trading partners live up to their obligations.
The President is leading the successful fight to expand America's economy by:
Standing up for American workers against unfair competition:
President Clinton has reached 21 agreements with Japan to open its markets to U.S. goods in such sectors as autos and auto parts, telecommunications, supercomputers, construction, cellular phones, and rice. U.S. exports to Japan are up 35 percent since 1992, reaching a record $64 billion in 1995 and supporting over 800,000 American jobs. U.S. manufacturing firms have increased their share of the Japanese market by more than 20 percent in the past three years. For the first time in a decade, U.S. auto exports to Japan increased significantly while imports fell.
Signing tough trade agreements that are good for America:
The President worked to open markets of our first and third largest trade partners -- Canada and Mexico -- by leading a bipartisan coalition in support of the North American Free Trade Agreement (NAFTA). U.S. exports to Mexico in 1995 were 46 percent -- 11 percent higher than in 1993, the year before NAFTA was implemented. President Clinton leveled the playing field for U.S. products around the world by concluding the Uruguay Round of the GATT, which put in place tough international rules of trade and established a permanent enforcement unit to monitor and enforce trade agreements.
Creating over 1 million high-wage American jobs through an unprecedented export boom:
The Clinton Administration's National Export Strategy has helped to create American jobs by promoting U.S. goods and services abroad and reducing tariff and other trade barriers with our trading partners. Exports have grown 31 percent since President Clinton took office. Agricultural exports surged to $56 billion in 1995, with all-time highs in poultry, pork, wheat, and cotton. The United States is now the world's largest exporter. Eleven million -- roughly one out of every ten -- American workers depend on exports for their jobs. Export-related jobs pay an average of 13 percent more than other jobs. One in five manufacturing jobs is supported by U.S. exports. The increase in U.S. exports has contributed to the creation of 175,000 manufacturing jobs in the past three years.
Putting America first by restoring U.S. competitiveness:
President Clinton has put our financial house in order with fiscal policies that will have cut the deficit by more than half within four years. He has reduced the size of the federal government to its lowest level in 30 years. The United States is the world's number one producer of automobiles for the first time since the 1970s -- overtaking Japan. The United States is once again the world's number one producer of semiconductors -- surpassing Japan.
Building on Our Progress
President Clinton will continue to protect American workers and businesses by:
Aggressively pushing our foreign trading partners to open wider their markets to U.S. goods and services.
Ensuring that our trading partners live up to their obligations through strict enforcement of our trade agreements, using sanctions when necessary.
Continuing to place special emphasis on the world's fast-growing, emerging markets.
Helping small- and medium-sized businesses increase their exports.
Continuing to give American workers and businesses the tools they need to compete and win in the new global economy.
Paid for by Clinton/Gore 96 General Committee, Inc.