Policy and Legal

Washington, D.C. – Following the Department of Treasury’s announcement that the United States has finalized a side-by-side agreement with OECD allies that will shield manufacturers in America from damaging taxes, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Thanks to President Trump, Secretary Bessent and the administration, this finalized side-by-side agreement—cementing the initial agreement reached in summer 2025—will protect both domestic and foreign-headquartered manufacturers investing in the United States from oppressive, job-killing taxes. Heeding the call of our industry, this deal will shield manufacturers from damaging taxes that unfairly stifle job creation in the U.S.

“Furthermore, today’s finalized deal gives manufacturers greater certainty to unlock the full potential of the historic tax provisions of H.R. 1 that manufacturers championed.

“The side-by-side global tax system will ensure that manufacturers in the U.S. can compete on a level playing field, invest in their operations and hire more workers. In short, this deal is a massive triumph for manufacturers in the United States.”

-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 $2.90 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. 

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