Trade

Washington, D.C. –National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement after the announcement of new U.S. tariffs on China and Chinese retaliatory tariffs on the United States:

For too long, China has reaped the rewards of unfair trade practices and intellectual property theft, exploiting loopholes in decades-old agreements. In the absence of a modern, enforceable agreement, China cheats. Manufacturers want to see the administration get China back to the negotiating table as soon as possible in order to pursue a trade agreement that will redefine the U.S–China economic relationship for the better. We now have an unparalleled opportunity to stop these practices at their root, through a strategic approach that includes the negotiation of a fair, bilateral, enforceable, rules-based trade agreement by an administration that champions manufacturing.

Tariffs, though, have not and will not solve the existing problems in China. Tariffs will bring retaliation and possibly more tariffs. No one wins in a trade war, and it is America’s manufacturing workers and working families who will bear the brunt of continued tariffs. Manufacturers in the United States succeed when the rules are clear and fair and markets are open. The United States has China’s attention, and we must seize the moment and soon.

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The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers (NAM) today submitted comments to the Department of Commerce regarding its Section 232 investigation into auto imports:

Manufacturers agree with the President on the need to promote free and fair trade, wrote NAM Vice President of International Economic Affairs Linda Dempsey. Manufacturers also agree that carefully calibrated and multilateral sanctions have a place in supporting national security objectives. The NAM believes, however, that broad, unilateral and import-restrictive measures are counterproductive to achieving both of these goals—goals on which we all agree. That is because, however well intentioned, they ultimately give an edge to foreign production at the expense of U.S. manufacturing. The question, therefore, is not whether we agree on the importance of promoting free and fair trade and protecting U.S. national security, but how best to advance these critical priorities. One way is by utilizing the many targeted trade tools we already have that are designed expressly to stop unfair and counterfeit imports. Another way is by adding even more tools to the toolbox by, for instance, pursuing innovative, enforceable and new trade agreements. Manufacturers believe both represent effective avenues to advance our common goals. . . . The unilateral imposition of tariffs or quotas that a Section 232 investigation could authorize would undermine this sector and broader manufacturing production and jobs in the United States.

Click here to read the full comments.

Following the investigation’s announcement in May, NAM President and CEO Jay Timmons stated, “Manufacturers in the United States want to give every advantage to American workers. But incorrectly using the 232 statute will create unintended consequences for U.S. manufacturing workers that will limit the chance for Americans to win, just as we do when government gets out of the way and allows us to lead.”

The full statement can be found here.

-NAM-

The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on President Donald Trump’s nomination of Kimberly Reed to lead the Export-Import (Ex-Im) Bank of the United States:

Kimberly Reed is a sterling choice for the Export-Import Bank, and in nominating her to lead the agency, President Trump is standing with America’s manufacturing workers. For too long now, the Ex-Im Bank has been hobbled, unable to ever consider action on large deals, while manufacturers lose out on business and jobs to our overseas competitors. At least 85 foreign government-backed export credit agencies, including those in China, are working aggressively to support their own domestic industries. America cannot afford to let them win any longer. Manufacturers call on the Senate to act swiftly to confirm Ms. Reed and the remaining Ex-Im Board nominees.

The NAM has been a leading proponent of restoring the Ex-Im Bank, which has supported 1.4 million American jobs over the past several years, to full functionality. In January, Timmons sent a letter to Senate Majority Leader Mitch McConnell (R-KY) and Senate Majority Whip John Cornyn (R-TX) urging them to swiftly approve the four stalled, qualified nominees to the Bank’s board of directors following their bipartisan approval by the Senate Banking Committee. NAM Vice President for International Economic Affairs Linda Dempsey also penned an op-ed in The Hill calling on the Senate to take action.

Quick facts about the Ex-Im Bank:

• The Bank has supported 1.4 million jobs over the past eight years.
• More than 90 percent of the Bank’s FY 2016 transactions directly support small businesses.
• The Bank has generated $7 billion for taxpayers over the past 20 years.
• Foreign competitors are stealing America’s competitive disadvantage by devoting hundreds of billions of dollars to official export credit agency financing for domestic manufacturers.
• The Bank’s default rate of just 0.25 percent is better than many commercial lenders.

-NAM-

The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the new 301 tariff list announced today, reiterating manufacturers’ call for an approach that includes a rules-based bilateral trade agreement with China. In January, Timmons sent a letter to President Donald Trump urging him to pursue a trade agreement with China to wholly restructure our economic relationship.

There is no question that China cheats and that its unfair trade practices and intellectual property theft are hurting America’s manufacturing workers. To put an end to these threats and redefine the U.S.– China economic relationship, manufacturers are calling for a new path forward: a fair, binding, enforceable bilateral trade agreement. This approach would end fears of a trade war, get China to play by the rules and secure manufacturing jobs in the United States. Manufacturers certainly have concerns that tariffs will cause more problems than they solve, but we also recognize that the administration may intend to use them as a negotiating tactic to bring China to the table and achieve larger goals. A trade war never benefits anyone, so rather than pursuing a piecemeal tariffs approach, now is the time to seize the opportunity before us and work toward a U.S.– China trade agreement that will benefit American workers for generations to come.

-NAM-

The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the Department of Commerce’s announcement that it is initiating a Section 232 investigation into auto imports:

Manufacturers in the United States want to give every advantage to American workers. But incorrectly using the 232 statute will create unintended consequences for U.S. manufacturing workers that will limit the chance for Americans to win, just as we do when government gets out of the way and allows us to lead. Thanks to tax and regulatory reform, manufacturers’ outlook is at record levels—with 93 percent expressing confidence about the state of the economy. Manufacturing is growing and thriving for the better, creating millions of well-paying jobs for Americans across the country. We cannot endanger this progress by restricting trade and promoting retaliation against American-made products that will undermine manufacturing and jeopardize the jobs of manufacturing workers in the United States.

-NAM-

The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – BTE Technologies President, National Association of Manufacturers (NAM) Executive Committee member and Small and Medium Manufacturers (SMM) Group Vice Chair Chuck Wetherington testified on behalf of the NAM at today’s House Small Business Committee hearing on the state of trade for the United States. Wetherington’s testimony called for negotiating and implementing market-opening, high-standard and enforceable trade agreements, restoring the Export-Import (Ex-Im) Bank to full functionality and improving U.S. market and export promotion assistance.

Any outcomes from the ongoing NAFTA modernization negotiations must sustain and grow higher-paying American jobs and fuel U.S. manufacturing production, exports and competitiveness, Wetherington said in his written testimony. To be successful, a renegotiated NAFTA must also be fully consistent with the substantive Trade Promotion Authority trade-negotiating objectives contained in the Bipartisan Congressional Trade Priorities and Accountability Act of 2015. At the same time, it is vital to ensure that any renegotiation does not set back U.S. manufacturing or manufacturing jobs. Changes to NAFTA that would increase red tape and complexity, substitute government decision-making for the free market or raise taxes, tariffs, merchandise processing fees and other cost barriers—including with respect to rules of origin or concerning restricted access to foreign procurement markets—will undermine, rather than incentivize, manufacturing in the United States and North America more broadly.

Click here to read Wetherington’s full written testimony.

Wetherington’s testimony at the Small Business Committee comes the same day as NAM Chief Economist Chad Moutray testifies at a Joint Economic Committee hearing on unleashing America’s economic potential and NAM Vice President of International Economic Affairs Linda Dempsey testifies at a Senate Finance Trade subcommittee hearing on market access challenges in China.

-NAM-

The National Association of Manufacturers (NAM) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters 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 Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.