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US 'on track to doubling exports'

Washington, February 19, 2012

US President Barack Obama said his administration was headed towards fulfilling its commitment of doubling US exports over five years and promised to reward businesses that created jobs at home with tax breaks.

"Two years ago, I set a goal of doubling US exports over five years," the president said in his weekly radio and Internet address. "And we're on track to meet that goal - ahead of schedule."

The comments came after Obama visited a Boeing manufacturing facility in the northwestern state of Washington, which he hailed as an example of revitalised industry.

At the end of a three-day tour that focused on US industry and fundraising for his November re-election bid, Obama promised not to stand by when US competitors don't play by the rules and benefit from what he called "unfair" trade practices.

In a cavernous Boeing hanger, Obama praised the company's new Dreamliner aircraft, which made its first commercial flight in October and is now getting a string of orders from around the world after years of delays that cost the firm billions of dollars in lost or delayed orders.

The president repeated his praise of Boeing in his address, holding up the company as an example of a competitive business.

"Companies like Boeing are realising that even when we can't make things cheaper than China, we can make things better," Obama said. "That's how we're going to compete globally."

The president also said he was against giving tax breaks to companies that ship out US jobs to other countries.

"It's time to stop rewarding businesses that ship jobs overseas, and start rewarding businesses that create jobs here in America," he said. "And Congress should send me that kind of tax reform right away."




Tags: US | Exports | Obama | double |

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