More oil and gas come to the United States from Canada than from any other country in the world. The U.S. is a net energy importer in terms of oil and gas trade with Canada. Canada’s energy exports to the United States were valued at $76 billion in 2009, while U.S. exports to Canada were valued at $11.5 billion.
When officials at the Wisconsin manufacturing company Spee-Dee Packaging Machinery began seeking ways to expand the business, it became clear that one of their best options was to export. Taking this step, however, is not an easy one for small and mid-sized businesses such as Spee-Dee. The firm got a helping hand from the state, and has since become an early exporting success story. The ability of Spee-Dee and other businesses to export their products and services will be a critical barometer of the region's economic recovery and long-term prosperity.
In the 1930s, exports accounted for just 3 percent of the nation’s GDP. Eighty years later, the goods and services sold to other countries made up 12 percent of GDP, note Bruce Katz and Emilia Istrate in a recent report for Export Nation, a research project of the Brookings Institution’s Metropolitan Policy Program.
During his State of the Union address in 2010, President Barack Obama announced his plans for the National Export Initiative, the goal of which is to double U.S. exports by 2015. Meeting this objective would result in an additional 2 million jobs, administration officials estimate.
Prospects for a new bridge being built between Detroit and Windsor greatly improved in January when Michigan Republican Gov. Rick Snyder strongly endorsed the idea in his first State of the State address.
Canada and the United States are pursuing a perimeter security agreement that proponents say would allow goods and people to move more freely along the land border between the two countries and reduce costs for businesses.