NEW YORK Nov 15 U.S. businesses faced with
tepid consumer spending must export more to spur economic
recovery, United Parcel Service (UPS.N) Chief Executive Scott
Barriers to free trade are high hurdles, and "when global
commerce suffers, we all suffer and we all end up paying a
price," said Davis, a member of the President's Export
Davis spoke at the Commerce Department's America's
Competitiveness Forum in Atlanta on Monday, and his comments
were made available in advance.
More than 95 percent of the world's potential customers are
outside of the United States, he said.
Davis said he worried about Congress not approving
negotiated trade agreements with South Korea, Colombia and
Panama, which the U.S. Chamber of Commerce says has cost the
United States some 380,000 jobs with unemployment at 9.6
"Buy America" rules in the 2009 stimulus package, in which
only U.S. firms can bid on major federal government contracts,
could also backfire, he said.
Some restrictions have been eased, but U.S. businesses
could face higher barriers when they bid for big projects in
other countries, possibly costing U.S. exports and related
jobs, said Davis.
"The U.S. should abolish Buy America provisions and the
sooner the better."
The President's Export Council aims to double U.S. exports
in the next five years from about $1.6 trillion to more than $3
trillion in 2015.
Exports now account for 11 percent of U.S. GDP, compared
with 28 percent for Mexico and 50 percent for Germany, Davis
UPS handles 6 percent of the U.S. GDP, and 2 percent of
global GDP in its trucks and planes, he said.
(Reporting by Lynn Adler, editing by Dave Zimmerman)