National Export Initiative (E.O. 13534)

Summary

Creates a plan to help U.S. businesses sell more products overseas, aiming to double exports in five years and create more jobs at home.

What problem does this solve?

Many Americans lost their jobs during a bad economic time, and the country needed a way to grow its economy again. This order creates a government-wide plan to help U.S. companies sell more goods to other countries, which will create more high-paying jobs.

What does this order do?

Establishes the National Export Initiative (NEI)

Creates a new government-wide effort with the goal of doubling U.S. exports over the next five years to support job creation and economic growth.

Creates the Export Promotion Cabinet

Forms a new cabinet composed of various department secretaries and agency heads to lead and coordinate the National Export Initiative.

Focuses on small and medium-sized businesses

Directs the new cabinet to develop programs that provide assistance and information to help small and medium-sized companies start exporting or find new international markets.

Reduces barriers to trade

Instructs the United States Trade Representative to work on opening new markets, lowering trade barriers, and enforcing trade agreements to help U.S. companies sell their products abroad.

Increases access to export credit

Requires the President of the Export-Import Bank to take steps to make more credit available to small and medium-sized businesses that need financing to export their goods.

Requires a comprehensive plan

Mandates that the Export Promotion Cabinet provide the President with a detailed plan to achieve the goals of the initiative within 180 days.

Who does this affect?

U.S. businesses
American workers
Federal trade agencies

What is the real world impact?

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Boosts economic recovery and job creation

Responds to job losses from the financial crisis by creating a clear government strategy to stimulate the economy. Increasing exports is seen as a direct way to create high-paying jobs for Americans and support sustainable economic growth.

When does this start?

This order takes effect immediately on March 11, 2010, and sets a deadline for a future action.

Comprehensive plan submission

Not later than 180 days after March 11, 2010, the Export Promotion Cabinet must give the President a complete plan for the National Export Initiative.