NAM Statement on Implementation of New China Tariffs
Timmons: “Administration Needs to Get Beijing Back to the Negotiating Table."
Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the implementation of an additional $16 billion in U.S. tariffs on China:
This announcement underscores that the administration needs to get Beijing back to the negotiating table, as manufacturers have been urging for months.
Two things are abundantly clear to manufacturers: China cheats, and another round of tariffs on China will not fix the problem. As the administration rightly notes, China attempts to force U.S. companies to hand over valuable technology, restricts foreign investment, distorts the free market to give their own companies an advantage, undercuts us in the global economy and steals manufacturers’ intellectual property. While these additional tariffs may be an attempt to create more leverage, they also increase the risks for manufacturing in America and add to mounting uncertainty. We are already seeing price increases that will be felt by consumers and working families, and additional retaliatory tariffs could close major markets off to U.S. exports. Manufacturing workers are feeling the pain of tariffs, as are American consumers. If the point is to put pressure on China to change its actions, tariffs paid by American businesses and consumers are simply not effective.
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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.
Senate Passing Miscellaneous Tariff Bill a Significant Step Forward
Timmons Urges House to Take Up Senate-Passed Bill to Support Manufacturing
Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the unanimous passage of H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018, by the U.S. Senate:
This is a significant step forward for manufacturers, who, along with other businesses, are losing nearly $1 million every day until this bill becomes law, said Timmons. Right now, manufacturers are hit with costly, senseless taxes any time they buy products or supplies that aren’t available in the United States. It makes no sense because it is a direct and punishing tax on making things in America and for creating jobs in America. This bill ends that unfairness and helps manufacturers in the United States better compete for business with companies in China, Europe and elsewhere. Manufacturers need Congress to get this done—to level the playing field and secure the jobs of American manufacturing workers. We urge the House to act quickly, pass the Senate version of the bill and get it to President Trump’s desk for his signature.
In November, the NAM welcomed the bipartisan, bicameral introduction of the MTB legislation, and in January, the NAM praised House passage of an earlier version of the bill as a “big deal for manufacturers.” In March, the NAM released a blog on the benefits of the MTB for manufacturers and led a letter of 216 business organizations urging Congress to boost manufacturing by passing the MTB. Click here for testimonials from manufacturers in America on the importance of passing the MTB.
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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.
Timmons: Reed Will Be an Outstanding Leader
NAM Urges Senate to Confirm Kimberly Reed to Lead Ex-Im Bank
Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the Senate Banking Committee’s hearing regarding Kimberly Reed’s nomination for president of the Export-Import (Ex-Im) Bank of the United States:
There can be no doubt that Kimberly Reed will make an outstanding leader of the Ex-Im Bank. Like President Trump, she believes in the agency’s mission and recognizes its critical importance to manufacturing’s success in America. With her experience and expertise at the helm of the Ex-Im Bank, our industry and our country will undoubtedly be more competitive in the global economy. Manufacturers need Reed and the other nominees confirmed so we can regain a competitive advantage in the fight for jobs and business.
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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.
NAM Statement on New China Tariff List Announcement
Timmons: “The Last Thing America’s Manufacturing Workers Need Is An Escalating Trade War.”
Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the release of a list of an additional $200 billion in Chinese products to be hit with tariffs:
The last thing America’s manufacturing workers need is an escalating trade war. America has China’s attention, so instead of more tariffs, the U.S. and China should immediately begin working toward a fair, bilateral, enforceable, rules-based trade agreement to end China’s market-distorting activities. We can’t afford to wait any longer.
China cheats, and manufacturers want to see China held accountable. But more tariffs like these will punish America’s manufacturing workers—and could undermine our hard-won gains thanks to tax and regulatory reform, which have increased our global competitiveness over the last 18 months and led to higher investment and more American jobs.
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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.
ICYMI: NAM’s Timmons Discusses Tariffs on Fox Business
“A Trade War Ultimately Will Be Bad for Everyone . . . We Want to Get a Deal with China Done So That We Have a Level Playing Field.”
Click Here to Watch the Interview
Timmons on China’s Unfair Trade Practices
“I think most countries around the world would agree that China cheats. So, it’s really incumbent on the administration to bring the world together to take on the problem that China has created, the imbalance that China has created. We hope they are successful in doing that, and that’s the ultimate goal. But time will tell whether we are able to do that and whether the rest of the world is going to be united with us in making sure that China is not distorting manufacturing and not distorting the economy.”
Timmons on U.S.–China Tariffs
“Let’s hope that this is a negotiating tactic and that the administration is positioning us in a way that will enable us to create some good deals. I mean, for us, when we look at China and we have been talking about China—you and I have talked about China—the fact that China cheats, the fact that China steals intellectual property, counterfeits, dumps, subsidizes their products—none of that is good, but a trade war ultimately will be bad for everyone, especially consumers in the United States. So, we want to get that behind us; we want to get a deal with China done so that we have a level playing field.”
Timmons on Record-High Manufacturer Confidence
“Over the course of the last two years, we’ve added almost a quarter of a million jobs after having lost thousands of jobs in 2016. And in fact, if you look at manufacturers’ outlook right now—our last survey that we released—about 95 percent of manufacturers, 95 percent, have a positive outlook on the economy and their future. Eighty-eight percent say that they are going to hire in the next few months, and 72 percent are going to be raising wages and benefits. All of that is really great news; now lay the tariffs on top of that, the trade war on top of that, that’s not a good sign for manufacturers. We hope that this is resolved quickly because we want to get back to those positive signs.”
Timmons responded to the latest round of China tariffs Friday in interviews on CNBC and Fox Business. Read Timmons’ full statement here.
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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.
NAM Statement on New U.S. –China Tariffs
Manufacturers Need Administration to Get China Back to the Negotiating Table Now
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.
NAM Submits Comments on Section 232 Investigation into Auto Imports
Manufacturers Caution Administration on Import-Restrictive Measures
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.
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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.
NAM Statement on Kimberly Reed’s Nomination to Lead Ex-Im Bank
Timmons Hails Reed as “a Sterling Choice for the Export-Import Bank”
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.
NAM Statement on New 301 Tariff List Announcement
Timmons Continues to Press the Trump Administration to Pursue Bilateral Trade Agreement with China
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.
NAM’s Timmons: Here’s the Solution to Make China ‘Play By The Rules’
By: NAM President and CEO Jay Timmons
May 31, 2018
“President Donald Trump has done more for manufacturing workers than any president in recent history, and now he has the chance to cement his legacy—by seeking, negotiating and securing a history-making trade agreement with China. With U.S. Commerce Secretary Wilbur Ross headed to China in the coming days, the administration has the chance to lay the foundation to advance this goal …
“China and its favored Chinese industries are also the cause of some of manufacturers’ biggest challenges. They steal manufacturers’ valuable ideas and intellectual property. They undercut us in the global marketplace and don’t play by the same rules. They profit from these actions at our expense …
“A U.S.–China trade agreement must achieve three key goals to be successful: eliminate tariffs and discriminatory practices that prevent American companies from selling more manufactured goods to China; end Chinese policies that distort the free market and give their companies an unfair advantage; and create clear and binding enforcement tools to ensure the United States can hold China fully accountable.
“This agreement must also go further than the existing World Trade Organization agreements, which, as the president has noted, allow Chinese tariffs to be more than three times higher than U.S. tariffs. It must require stricter rules against unfair subsidies. It must include best-in-class provisions to end China’s favoritism toward domestic industries and to protect intellectual property. Companies should not be forced to hand over data and technology just to do business in China …
“President Trump can do what no American president has been able to do and what a piecemeal tariff approach cannot achieve: make China play by the rules and stop cheating once and for all, while empowering manufacturers in the United States to compete in China like never before.”
Click here to read Timmons’ letter to President Donald Trump urging the administration to pursue a bilateral trade agreement with China. Click here to watch Timmons’ appearance this morning on CNBC’s Squawk Box.
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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.