ICYMI: NAM CEO Jay Timmons Talks USMCA, Energy and Jobs on Bloomberg’s Balance of Power
Washington, D.C.–This week, the National Association of Manufacturers President and CEO Jay Timmons joined Bloomberg’s Balance of Power to discuss the latest state of play on the United States–Mexico–Canada Agreement and what it means for manufacturers, the impact of the conflict in the Middle East on energy costs and the importance of American energy dominance and how AI is enhancing the manufacturing workplace.
On annual reviews for USMCA:
“The administration’s goal, when USMCA was put into place during the first Trump administration, was to pivot manufacturing away from Asia and into the North American continent. That has largely happened. We see the ISM numbers today proving that to be the case, but there are still some issues … There are some things that need to be addressed, but overall, I have to think that this USMCA deal was a great success story for the United States and North America.”
On energy prices:
“Energy costs are a huge input factor for manufacturers … so every time something moves up on the energy side or the cost of energy, that does have a negative impact for manufacturers. So we’re glad to see, obviously, that there is this agreement that has been negotiated, a ceasefire, at least for now, and we’re hopeful that it sticks because it is problematic when energy prices do go up. But it also, I think, points out the relative stability that we’ve seen … It shows how important it is for us to be pursuing energy dominance here in the United States … the more we are able to produce here at home, the better it is for the global market. And of course, prices are set on a global scale, and it has a big impact based on what we can produce right here in the United States.”
On energy dominance and achieving nuclear energy goals:
“We had a really great set of news come out today. There are three advanced nuclear reactors that are actually up and running, and they’re going to be producing electricity within the next two or three years …The president challenged the nuclear industry to be able to produce those by July 4th, Independence Day, this year, and I’m really pleased to see that that is the case, that we’re moving forward with that vision that is going to be critical.”
On AI and manufacturing jobs:
“AI is being used to enhance the manufacturing workplace and actually allowing workers to be more productive and to be more successful . . . So think about when automation first really started to take off or when the assembly line back in Henry Ford’s days or automation and then the personal computer. All of those technological advances have led to that question: ‘is this going to hurt manufacturing jobs?’ And in every single instance, it has allowed manufacturers to do more with different tools.”
-NAM-
The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for nearly 52% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 733 10th St. NW, Suite 700 • Washington, DC 20001 • (202) 637-3000
