Trade Programs in the 2016 Budget

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February 4, 2015

    Presidents Obama’s budget proposal for 2016 increases the funding for trade related agencies, while also combining designated agencies.  Under the proposal, released on February 2, 2015, the Department of Commerce (DOC) would receive $9.8 billion, including $612 million for their trade enforcement sector.  The International Trade Administration (ITA), which functions as part of the DOC, would receive $497 million to continue their anti-dumping and countervailing duty work to stop foreign producers from harming the U.S. markets.  This would increase their budget by 7.5% overall.  The ITA funding would support SelectUSA, which was designed to lure investors to the United States.  U.S. Secretary of Commerce Penny Pritzker stated, “The Commerce Department’s fiscal year 2016 budget request reflects our role as the voice of business in the Obama Administration by making critical investments in areas that will grow our economy and create good American job.”

    Additionally, the Bureau of Industry and Security would receive $115 million, which constitutes an additional $12 million from its 2015 budget.  The Office of the United States Trade Representative (USTR) would receive $56.2 million and the United States International Trade Commission would increase their budget from $85 million to $131.5 million according the President’s proposed budget.  

    In conjunction with the budget, President Obama proposed combing several trade agencies, including sectors of the DOC, the Small Business Administration, USTR, the Export-Import Bank, the Overseas Private Investment Corporation, and the U.S. Trade and Development Agency.

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