Manufacturers applaud President Obama’s call for swift action on Trade Promotion Authority (TPA) in tonight’s State of the Union address.
Quickly renewing this proven partnership between Congress and the Executive branch is essential to ensure America continues to lead to negotiating new trade agreements that eliminate barriers and open overseas markets for manufacturers and workers.
Renewing TPA and striking new trade deals is an urgent jobs, growth and competitiveness priority for American industry and a vital part of the comeback strategy NAM President and CEO Jay Timmons outlined earlier today.
Trade deals negotiated under TPA give manufacturers and the more than 12 million women and men they employ across the country better access to an $11 billion global market and to the 95 percent of the world’s consumers who live outside our borders.
Where there is a level playing field in overseas markets, manufacturers are succeeding. America’s 20 existing trade agreement partners constitute less than ten percent of the global economy but purchase nearly half of all U.S. manufacturing exports.
The products Americans export around the world contribute more than $1.6 trillion to our economy annually and support more than one in every five U.S. jobs. Jobs linked to manufactured goods exports pay, on average, 18 percent more than other jobs.
Poll after poll has found that the American people support seeking trade agreements with other countries that eliminate unfair trade barriers, open foreign markets and create a fair and level playing field for goods manufactured in the United States.
Every President since Franklin Roosevelt has had authority to strike trade deals that level the playing field for manufacturers and workers in the United States. NAM is intensifying its work with the Administration and Congress to get this urgent priority passed soon.
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