(The Epoch Times)—American businesses signed 98 contracts valued at $170 billion with foreign government buyers during the first nine months of the Trump administration, the Department of Commerce’s International Trade Administration (ITA) said in a Sept. 30 statement.
“The record $170 billion in contracts signed with foreign government buyers so far in 2025 vastly surpasses the $12 billion in contracts signed during the same period in 2021,” ITA said.
The contracts are expected to support 589,000 American jobs and ensure $144 billion worth of made-in-USA exports.
“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.
“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.”
In terms of value, the U.S. aerospace and defense sector inked $153 billion in contracts with foreign government entities, which is expected to keep the American industrial base strong, according to ITA.
Roughly $5 billion in deals have been signed that will strengthen energy security in the country, especially in the oil, gas, and nuclear sectors.
According to ITA, more than $800 million in contracts have been signed in the information technology sector. In the safety and security equipment sector, more than $600 million worth of deals have been entered, thereby countering untrusted tech and unfair tactics of foreign adversaries.
“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 Commerce Undersecretary William Kimmitt.
“We will continue to be an unrelenting advocate around the world in support of American workers.”
The sharp uptick in business performance comes amid concerns about the state of the U.S. economy over the coming months.
In a Sept. 18 statement, think tank The Conference Board said that its leading economic index fell by 0.5 percent in August from the previous month, suggesting a near-term decline in the economy.
This was the largest monthly fall since April, according to Justyna Zabinska-La Monica, senior manager of business cycle indicators at the think tank.
“Overall, the LEI suggests that economic activity will continue to slow. A major driver of this slowdown has been higher tariffs, which already trimmed growth in H1 2025 and will continue to be a drag on GDP growth in the second half of this year and in H1 2026,” Zabinska-La Monica said.
Despite these projections, GDP growth has increased in the recent second quarter, signaling a strengthening of the economy.
In the first quarter of 2025, GDP contracted by 0.6 percent, according to the Bureau of Economic Analysis. However, in the second quarter, the first full quarter under the Trump administration, GDP grew by 3.8 percent, higher than initial estimates of 3 percent.
“America’s economic resurgence under President Trump continues: revised data show even stronger real GDP growth of 3.8 percent in Q2 2025 thanks to the Trump agenda of tax cuts, deregulation, tariffs, and energy abundance,” White House deputy press secretary Kush Desai wrote in an X post on Sept. 25.
A Sept. 24 statement from the Chamber of Commerce said that small business confidence continued to climb in the third quarter, according to a survey of small business owners.
“This quarter’s Index reflects a resilient small business community that’s cautiously optimistic about the economy,” said Tom Sullivan, vice president of small business policy at the chamber.
“But high costs are still holding many back from expanding and investing.”
Among the respondents. 46 percent said inflation was the biggest challenge, while 34 percent blamed the cost of goods and services as the most significant roadblock to expansion.
The economic outlook improved among respondents, with 40 percent saying the U.S. economy was in good health.
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