Connect with us

Hi, what are you looking for?

Politics

US companies secure record $170B in global contracts under Trump so far, Commerce says

American companies have won a record $170 billion in foreign government contracts since President Donald Trump returned to office, the Department of Commerce announced Tuesday. 

The deals amount to 98 contracts and are expected to generate $144 billion in U.S.-manufactured exports and support nearly 600,000 American jobs, according to the International Trade Administration (ITA), the Commerce Department’s arm for trade and exports. 

The total dwarfs the $12 billion in contracts signed during the same period in 2021 under former President Joe Biden. 

The aerospace and defense sector took the lion’s share, securing $153 billion in signed contracts. Other deals included about $5 billion in nuclear, oil and gas projects, $800 million in information technology, and more than $600 million in safety and security equipment. 

Commerce officials said the latest tally underscores a renewed focus to prioritize U.S. industry and competitiveness abroad. 

‘The record-breaking U.S. business wins under President Trump’s leadership reflect an unwavering commitment to rebuilding U.S. industry for the American worker,’ Commerce Secretary Howard Lutnick said in a statement.

‘With record business deals abroad, America is strong again, and together with the American worker, President Trump is transforming the U.S. economy, rebalancing our global trade and restoring America’s place in the world,’ he added.

The deals are driven in part by the ITA’s Advocacy Center, a Commerce Department team that helps U.S. companies compete for foreign government contracts by ensuring bids are judged on merit.

‘In the first nine months of the Trump administration, ITA advocacy has worked tirelessly to win contracts to support hundreds of thousands of American jobs,’ said Under Secretary of Commerce William Kimmitt. 

‘We will continue to be an unrelenting advocate around the world in support of American workers,’ he added.

This post appeared first on FOX NEWS

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Editor's pick

    In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

    Editor's pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Editor's pick

    A former deputy Palm Beach County sheriff who fled to Moscow and became one of the Kremlin’s most prolific propagandists is working directly with...

    Editor's pick

    John F. Kelly, former president Donald Trump’s longest-serving White House chief of staff, said in a new interview that his former boss met the...

    Disclaimer: TopCapitalInsight.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TopCapitalInsight.com | All Rights Reserved