ARTICLE
The good news, as noted in countless national surveys and reports, is that the American economy is getting stronger. Companies are hiring, gas prices are staying relatively low and more people are shopping and dining out. But a side effect of this growth is the impact that a strengthening U.S. dollar has on the revenue of American companies that export products overseas. As the U.S. dollar gets stronger, it makes American-made goods more costly for foreign buyers. For example, if it took a certain number of euros to buy a $10,000 U.S.-made machine last year; now, it could take 20 percent more euros to buy the same machine. That, in turn, means foreign companies buy fewer U.S. products for the same amount of money. And that means U.S. exporters sell fewer products overseas, losing market share. Click here to read the article.
The good news, as noted in countless national surveys and reports, is that the American economy is getting stronger. Companies are hiring, gas prices are staying relatively low and more people are shopping and dining out.
But a side effect of this growth is the impact that a strengthening U.S. dollar has on the revenue of American companies that export products overseas.
As the U.S. dollar gets stronger, it makes American-made goods more costly for foreign buyers. For example, if it took a certain number of euros to buy a $10,000 U.S.-made machine last year; now, it could take 20 percent more euros to buy the same machine.
That, in turn, means foreign companies buy fewer U.S. products for the same amount of money. And that means U.S. exporters sell fewer products overseas, losing market share.
Click here to read the article.