Today, manufacturers and small businesses from across the country were in our nation’s capital to fight for a critical component of our national economic policy: the Export-Import Bank (Ex-Im). More than 650 individuals paid their own way to come to Washington, D.C. to educate and inform our leaders in Congress about the role the Ex-Im Bank plays in ensuring American manufacturers can compete overseas on a level playing field.
Enough is enough. We’re all for an honest debate, but a small group of trade critics are putting out some whoppers in an effort to derail the momentum behind Trade Promotion Authority (TPA), a longstanding procedural partnership between Congress and the Administration that enables the United States to conclude and implement new Free Trade Agreements (FTA) that open markets for our manufacturers.
Groups like Public Citizen, however, are promoting distorted information about our country’s manufacturing trade surplus with its 20 FTA partners. (continue reading…)
The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit rose to its highest level of 2014, up from $39.75 billion in November to $46.56 billion in December. The trade deficit averaged $42.09 billion per month in 2014, an increase from the $39.70 billion average of 2013. Goods exports were higher in the second half of 2014 ($137.51 billion each month on average) than in the first half ($135.01 billion), which was positive; however, goods imports also increased (up from an average of $196.59 billion to $198.73 billion). (continue reading…)
As NAM President and CEO Jay Timmons brings the State of Manufacturing message to Minnesota today, he will focus on one of the key drivers of the state’s, and the country’s, economy: trade and open markets. Manufacturers in the United States and their more than 12 million employees need Trade Promotion Authority (TPA) to better access more of the 95 percent of consumers who live outside our borders. (continue reading…)
Today, over 90 companies and associations sent a letter to the two new Chairmen of the House Ways and Means and Senate Finance Committee urging their leadership to move the long-stalled Miscellaneous Tariff Bill (MTB) as quickly as possible. (continue reading…)
As the Senate Finance and House Ways and Means Committees hold hearings today on “President Obama’s 2015 Trade Agenda,” manufacturers in the United States are emphasizing three key elements of a pro-manufacturing U.S. trade policy that will help unlock growth in manufacturing in the United States and the higher-paying jobs that manufacturing produces – opening global markets, increasing global competitiveness and leveling the playing field. through strong enforcement:
First it is critical to start with opening global markets as U.S. exporters face higher barriers in foreign markets than most of the rest of the world. According to the World Economic Forum’s “Global Trade Enabling Report 2014,” the United States faces higher tariffs for its exports than all but eight of the 138 countries reviewed, including China, Mexico, Canada and every member state in the European Union. To level the playing field and improve manufacturers’ ability to reach the 95 percent of consumers – who control more than 70 percent of global purchasing power – that are outside are borders, manufacturers are urging: (continue reading…)
Imbalances in the Global Trading System Say India and Brazil? Let’s Start with Manufacturing Tariffs
As the World Trade Organization (WTO) enters its third decade, WTO Director General Roberto Azevêdo is seeking to move forward on a long stalled global liberalization trade negotiations that began in Doha, Qatar, in November 2001. These ambitious, but long troubled talks had fallen apart as major emerging economies, starting with India Brazil and China, failed to commit to ambitious liberalization outcomes for their own economies. (continue reading…)
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. (continue reading…)
U.S. Scores WTO Victory Against Discriminatory Argentine Import Restrictions; Manufacturers Look for Quick Redress
The World Trade Organization (WTO) Appellate Body issued a decision on January 15 finding Argentina’s import restrictions on U.S. and other imported goods breached the international trade rules that Argentina had adopted in joining the WTO.
Since 2012, Argentina had, through its Declaración Jurada Anticipada de Importación or “DJAI,” and other measures, imposed limits on imports and other trade restrictive measures that have limited the ability of U.S. manufacturers to export and participate successfully in the Argentine market. These measures are estimated to affect billions of dollars of U.S. exports each year. (continue reading…)
Today, the EU Commission’s release of its Commission Staff Report on the investor-state dispute settlement (ISDS) consultation launched last year provides some interesting statistics and is an important step in the EU’s process.
As the EU moves forward on its consultations with EU governments, the EU Parliament and stakeholders, it is important that the jobs and growth objective of TTIP be front and center. With more than $4.5 trillion in cross-border investment between the EU and the United States, investment is already a huge driver of jobs and growth, and as the NAM emphasized in its detailed comments to the EU consultation, ISDS and a strong TTIP investment chapter are important to continue to promote the stronger and increased transatlantic investment moving forward. (continue reading…)