Update: Obama proposes trade agency reform

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13 January 2012

President Obama is asking Congress for the authority to combine the US government’s six trade and business-related agencies and departments into a one-stop-shop for exporters.

President Obama is asking Congress for the authority to combine the US government’s six trade and business-related agencies and departments into a one-stop-shop for businesses.

The move would see the amalgamation of parts of the Department of Commerce, Export-Import Bank, Overseas Private Investment Corporation, Small Business Administration, US Trade Representative, and the Trade and Development Agency into a new agency, focused on the administration’s goal of doubling exports by 2014 and creating manufacturing jobs within the US. The goal is for one department where entrepreneurs can go from the day they come up with an idea and need a patent, to the day they start building a product and need a warehouse, to the day they are ready to export and need help breaking into new markets overseas. The new department will lead the development and implementation of an integrated, strategic, government-wide trade effort and have a focused capacity to help...

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