By Taylor Schachter, originally published in Global Trade on July 11th, 2018.
PUTTING THE “E” IN EXPORTS
BEHOLD THE 2018 PRESIDENT’S “E” AWARD RECIPIENTS
PICK A WINNER: The President’s Export Awards hoopla fits in nicely with the Trump administration’s economic strategy.
United States Secretary of Commerce Wilbur Ross commenced the nation’s annual World Trade Week on May 21 by honoring 43 top American companies and organizations that either export American goods and services or assist other businesses in selling goods abroad.
Recognition of the honorees at the 49th annual President’s Export Awards ceremony in Washington, D.C., marked a victory for President Trump and his administration, as the Commander-in-Chief campaigned heavily on job creation back in 2016. In May–the same month of the Export Awards ceremony—the jobless rate tumbled from 4.1 percent to 3.9 percent, the lowest numbers since December 2000.
This year’s award recipients contributed toward exporting more than $2 trillion of American goods and services in 2017 alone—and those exports subsequently supported nearly 11 million U.S. jobs. According to the Brookings Institute, a record 85 percent of economic growth over the next five years is expected to come from exports. Leaders like those selected for the President’s Export Awards can hopefully help lead the way for other businesses.
Introduced by President John F. Kennedy in 1961, the President’s Export Awards (or “E” awards, the “E” being for exports) have become a longstanding tradition in Washington.
Phillips Lytle LLP
The Buffalo, New York, law firm assists clients in many aspects of financial law, including export services for small and medium-sized businesses. This includes joint ventures, international tax issues, mergers and acquisitions, entity formation, intellectual property and compliance counseling. But Phillips Lytle LLP stood out from the pack for the “E” Awards committee because of its dedication to participating in and providing exporter education programs for local businesses.