The figures above can be found on the NAM’s page “Manufacturing in the United States,” with data updated weekly from Bureau of Economic Analysis and the Census Bureau.
Trade
Manufacturers of all sizes must be able to compete in a global economy by selling not only to U.S. customers but also to the billions of consumers outside the United States, supporting American jobs and production. Pursuing policies that improve manufacturers’ competitiveness and ability to reach new customers abroad will allow manufacturers in the United States to compete—and win—in the global market
Key Facts
$15.3T
Value of goods traded globally throughout 2022
$2.89T
Value added to the economy comprising 10.3% of U.S. GDP in 2023
$1.6T
Value of U.S. manufactured goods exported in 2022
Removing Uncertainty and Unfair Barriers
Trade agreements play a critical role in promoting this competitiveness and U.S. global economic leadership. If done right, these agreements aggressively open markets, eliminate barriers and establish strong standards in areas such as intellectual property, investment and regulatory trade. Manufacturers are committed to full implementation and enforcement of existing U.S. trade agreements.
It is critical that the United States implement and negotiate new, cutting-edge comprehensive trade agreements that combat unfair barriers around the world and ensure that the United States, and not countries like China, writes the rules for the global economy and trading system. Without such agreements, manufacturers in the United States risk being left behind while China and our other global competitors actively negotiate new agreements that exclude us.
In today’s global marketplace, we rely on fair, open and predictable commercial trade rules. Our workers, suppliers and customers benefit from new international trade agreements and strong U.S. and global trade institutions. America’s manufacturing edge depends on innovation and access to new and growing markets.
The expansion of manufacturers’ global reach through a more open and more fair global trading environment has been pivotal to expanding U.S. industrial production to record levels, enabling businesses of all sizes to raise wages and create more high-skilled U.S. jobs. That is why manufacturers urge the administration to negotiate new trade agreements with allies and partners around the world and create a new, comprehensive and transparent 301 exclusion process to ensure that manufacturing in America is not being disadvantaged by our own government.
What Should We Do Now?
Manufacturers are fighting to expand their domestic and global reach. Below are critical policy recommendations that Congress and the President should act on to ensure a more open, fair and predictable global trading environment that improves U.S. competitiveness and increases U.S. manufacturing production.
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1Get the United States back on the global playing field by negotiating cutting-edge trade agreements, including those with major U.S. trading partners, to provide certainty, open markets for U.S.-manufactured goods, eliminate unfair barriers, set fairer and stronger standards, diversify sources for trade and ensure supply chain resiliency
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2Fully and comprehensively enforce existing U.S. trade agreements and trade rules, including full implementation of the United States–Mexico– Canada Agreement, in ways that benefit manufacturing in the United States
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3Oppose efforts to undermine critical global IP protections, including efforts to broaden an already problematic waiver of IP negotiated at the World Trade Organization, and instead advance initiatives that will leverage trade to fight COVID-19, enhance future pandemic preparedness and support the global economic recovery
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4Recommit to and strengthen relationships with trading partners to reform and modernize international trade rules and institutions, such as the WTO
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5Accelerate efforts to release a clear, comprehensive U.S.–China strategy that covers trade and economic priorities to address problematic Chinese policies and behaviors, refines current enforcement tools to avoid undue harm for manufacturers and workers in the United States and provides business certainty.
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6Support and continue to improve U.S. export promotion and export financing tools.
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7Ensure export controls and investment restrictions are tailored to address legitimate national security concerns and coordinated with allies when possible.
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8Modernize U.S. and foreign customs operations to better facilitate legitimate trade and improve enforcement tools to target illicit trade in the United States and across foreign borders.
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9Make the U.S. tariff code more competitive by enacting a new Miscellaneous Tariff Bill and the Generalized System of Preferences.
Share Your Voice
By sharing our voices, manufacturers play a vital role in advocating for trade agreements that help to promote U.S. global economic leadership.
We encourage you to share with us your thoughts on why fighting for a competitive trade agenda is critical to growing the economy and strengthening the industrial base. In doing so, you’re helping to equip the NAM with our most powerful advocacy tool: the manufacturing voice.
