Press Releases

Watch Jay Timmons on “Bloomberg Surveillance”

Timmons on Tariffs, Trade Negotiations

“To be very blunt about it, I think manufacturers are very concerned. They want to see progress. The president has given himself 90 days…to negotiate deals from around the world, and we are very hopeful that we’re going to see some policies that are ‘zero for zero’ tariffs. I understand the Italian Prime Minister is proposing exactly that right now for the EU. But we also have a couple other issues. We’ve got critical inputs—like critical minerals or machinery for shop floors or chemicals—that we can’t do here right now. We’ve got to figure out a way to bring those into these discussions as well.”

Timmons on Tax Reform, Regulatory Policy

“I think what we really need to focus on, though, if we truly want to grow manufacturing investment here in the United States, we’ve got to make things less expensive here in this country. So by that, I mean our tax policy. 2017 those tax reforms they were, as President Trump said, rocket fuel for manufacturing investment, hiring, wage growth in our industry. Those things are expiring, and we need to get those renewed. And so we’re waiting for Congress to do that. The regulatory burden is another big cost driver, about $50,000 per employee per year in compliance costs for manufacturers.”

-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 $2.93 trillion to the U.S. economy annually and accounts for 53% 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.