Obama touts trade initiative as a way to create jobs

WASHINGTON — President Obama sought Thursday to put some detail behind his lofty drive to double U.S. exports over the next five years, calling the effort imperative to putting people back to work. But doubts remain about how many net jobs his trade agenda will create — and how he will get it done.

In a speech to the Export-Import Bank conference, Obama outlined steps to flesh out his trade initiative. Among them: creating a mini-Cabinet of officials to focus on exports, seeking more financing to support trade efforts, beefing up enforcement of existing trade deals and pushing for the completion of stalled ones.

Experts say potential jobs from more exports can be negated by job losses resulting from increased reliance on products from abroad. Under Obama's multitiered trade plan, a new mini-Cabinet of leaders from relevant Cabinet agencies, such as the departments of Commerce, State, and Agriculture, will keep export promotion as a priority.

Obama also re-established the President's Export Council, a presidential advisory committee on international trade, and named two prominent business leaders, Jim McNerney, president and CEO of Boeing, and Xerox CEO Ursula Burns, to lead it.

More broadly, Obama is promising to increase financing and advocacy for U.S. businesses to "locate, set up shop and win" in new markets.