Manufacturers spoke out this morning in support of the U.S. Export-Import (Ex-Im) Bank, with more than 1,000 businesses and organizations calling on Congress to move on a long-term reauthorization before Ex-Im Bank’s current charter expires on June 30. A few of those companies also appeared at a news conference with NAM President Jay Timmons, urging lawmakers to take up a long-term reauthorization. Executives from Vermeer Corporation, Special Products & MFG. and Click Bond, Inc. joined several House Republican Congressmen to explain how small and medium-sized businesses can grow and expand because of exports supported by Ex-Im Bank financing. (continue reading…)
Manufacturers celebrated this week the annual “World Trade Week,” reaffirming the importance of trade to economic opportunities and job growth. The House Small Business Committee highlighted the impact of trade on small businesses with a hearing on Wednesday. NAM Board member and Power Curbers, Inc. President and CEO Dyke Messinger testified on the hearing panel, pressing for congressional passage of Trade Promotion Authority (TPA) and a long-term reauthorization of the Ex-Im Bank to help level the playing field for manufacturers in the United States. (continue reading…)
The House Foreign Affairs Committee’s Terrorism, Nonproliferation & Trade Subcommittee is examining today the role of trade promotion agencies like the Ex-Im Bank in supporting U.S. foreign policy. The United States needs a strong industrial base with robust R&D capability to support its national security interests, and those companies can benefit greatly from overseas markets. In many of those markets, export credit agencies (ECAs) like Ex-Im Bank play a crucial role in supporting suppliers for energy, aerospace and infrastructure projects.
This morning, the NAM hosted a conference call to highlight these issues with former U.S. Commerce Secretary Carlos Gutierrez and former National Security Advisor General James L. Jones. Also joining the call were to two manufacturers that illustrate the role of Ex-Im Bank in supporting their overseas growth and in enabling their commitment to U.S. foreign policy objectives. Secretary Gutierrez and General Jones joined with a dozen former U.S. government officials in February to send a letter to Congress underscoring the importance of commercial and economic diplomacy to U.S. national security. (continue reading…)
The Senate considered today a bundle of trade bills under a bipartisan deal to allow votes on customs and preferences legislation, as well as a cloture vote on the motion to proceed to Trade Promotion Authority (TPA). The NAM strongly supports the customs modernization, intellectual property enforcement, miscellaneous tariff bill process and provisions to prevent trade remedy evasion that are contained in Trade Facilitation and Trade Enforcement Act of 2015 and the trade preference provisions contained in the Trade Preferences Extension Act of 2015 (S.1267). The Senate passed the customs legislation by a vote of 78-20 and the trade preferences bill by a vote of 97-1.
The Trade Facilitation and Trade Enforcement Act (S. 1269), introduced in April by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR), passed the Senate Finance Committee by voice vote. During the Senate Finance Committee mark-up, several amendments to the bill were adopted. The bill would reauthorize U.S. Customs & Border Protection and contains customs modernization provisions on key issues like duty drawback, exemption from duty for container residue and intellectual property protection. The bill also includes the Enforcing Orders and Reducing Customs Evasion Act (ENFORCE) that provides basic due process procedures for domestic manufacturers, including timelines for CBP to act and the potential for judicial review, to address growing problems with the evasion of trade-remedy orders. (continue reading…)
Last week, the President transmitted to Congress the renewal agreement for the “U.S.-China Agreement for Cooperation on the Peaceful Uses of Nuclear Energy,” also known as the U.S.-China Section 123 agreement. Unless the renewal is brought into force before the current agreement expires in December, U.S. nuclear suppliers will lose their access to the world’s largest market for commercial nuclear goods and services – effectively forfeiting billions of dollars in U.S. exports and thousands of American jobs in a key sector. The NAM recently joined several other associations in urging Congress to act on a clean and expeditious approval of the renewal U.S.-China Section 123 agreement.
Section 123 of the U.S. Atomic Energy Act requires a specific agreement for significant transfers of nuclear material, equipment, or components from the United States to another nation. This primer from the Congressional Research Service (CRS) provides additional background on these “123 Agreements”, and CRS also has this new report on the China Section 123 agreement. (continue reading…)
As Congress continues to debate the future of Ex-Im Bank, it’s clear that a bipartisan majority supports its reauthorization. Over the past few weeks, various Congressional leaders have expressed their support for reauthorization. Today, House Speaker John Boehner (R-OH) said the expiration of the Ex-Im Bank could cost “thousands of jobs.” Manufacturers agree and we urge Congress to move quickly to schedule a vote on a long-term reauthorization of Ex-Im Bank. (continue reading…)
People might say bipartisanship is missing in the nation’s capital, but you wouldn’t know it if you paid attention to the Export-Import Bank’s annual conference this week in Washington, DC.
Lawmakers and former lawmakers from both parties made clear their support for the Ex-Im Bank, the small agency that facilitates the sale of U.S.-made products abroad. Here’s a brief overview of their comments on Ex-Im: (continue reading…)
As Congress debates whether to reauthorize the U.S. Export-Import Bank, small businesses are telling the story of how they’ve utilized Ex-Im Bank to grow exports and add jobs. Some of these small businesses earned a lot of applause today, as the Ex-Im Bank Annual Conference kicks off in Washington, DC.
Among the companies celebrated were fire truck maker W.S. Darley & Co., cheesecake company Love & Quiches Gourmet, and Texas-based Fritz-Pak Corp. These companies have tapped Ex-Im Bank financing to sell their products abroad. (continue reading…)
Earlier today in Hope Hull, Ala., National Association of Manufacturers (NAM) President and CEO Jay Timmons toured the shopfloor at VT Miltope, a leading U.S. manufacturer of computers and computer peripheral equipment for military, industrial and commercial tactical and aviation applications.
Joined by VT Miltope Executive Vice President Brigadier- General Edward F. Crowell (USAF Retired) and Business Council of Alabama President and CEO Billy Canary, Timmons continued to emphasize the importance of securing a long-term reauthorization of the Export-Import Bank in Congress on one of the final legs of the State of Manufacturing tour.
“Suppliers like VT Miltope are the backbone of our nation’s manufacturing economy. A long-term reauthorization of the Export-Import Bank is a necessary step that this Congress needs to take action on immediately to support job-creators. The debate over the future of the Ex-Im Bank boils down to whether we want manufacturers in the United States to win overseas, or whether we want our foreign competitors and their workers to swoop in and seize these opportunities,” Timmons said. (continue reading…)
The President’s Export Council (PEC) met yesterday at the White House to discuss U.S. policies and programs that promote export expansion. In advance of the meeting, the NAM submitted comments to highlight priority trade issues for manufacturers – including Trade Promotion Authority (TPA), ongoing negotiations for the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP), trade facilitation initiatives, WTO negotiations, export control reform and Ex-Im Bank reauthorization. (continue reading…)