Trade

Global Manufacturing Economic Update – April 17, 2015

Here is the summary for this month’s Global Manufacturing Economic Update: 

The global economic environment remains challenged, even as it continues to experience modest growth overall. The J.P. Morgan Global Manufacturing PMI, for instance, observed the highest production levels since August. Yet, the overall pace of expansion has clearly eased over the past few months. Along those lines, manufacturers in half of the top 10 markets for goods manufactured in the United States reported declining levels of activity in March, up from just two countries in February. Three Asian economies shifted into contraction territory for the month: China, Hong Kong and South Korea. In addition, Brazil and Canada remained challenged, with the latter struggling on lower crude oil prices. Manufacturing in the emerging markets also stagnated in March, with weaknesses in a number of nations counteracting progress in others. (continue reading…)

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How the TPP Can Be a Game-changer for Manufacturers in the United States

Negotiations on the Trans-Pacific Partnership (TPP) between the United States and eleven Asia-Pacific nations have been ongoing for several years, but we are finally nearing a make-or-break point in the effort to promote stronger commercial engagement between our nations and set in place new rules on transparency and protections for American innovation and investment that will help raise standards much closer to what we in America have long taken for granted. (continue reading…)

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The MTB: A No-Brainer for Manufacturers

The introduction of bipartisan legislation by Sens. Rob Portman (R-OH), Claire McCaskill (D-MO), Pat Toomey (R-PA) and Richard Burr (R-NC) to establish a new process for Congressional consideration of a Miscellaneous Tariff Bill (MTB) is a long overdue step that would pave the way for the elimination of taxes that harm manufacturers here in the United States.

During the past 30 years, Congress has supported manufacturing in America by suspending or reducing import taxes on necessary manufacturing inputs that are not available in the United States and must be imported from overseas. The MTB has historically been noncontroversial and has received strong bipartisan and bicameral support: In 2010, the U.S. Manufacturing Enhancement Act passed the House by a 378-43 vote and the Senate by unanimous consent. (continue reading…)

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Bipartisan, Bicameral Trade Promotion Authority Legislation Introduced

With today’s introduction of Trade Promotion Authority legislation, Senate Finance Committee Chairman Orrin Hatch (R-UT), Senate Finance Committee Ranking Member Ron Wyden (D-OR), and House Ways and Means Committee Chairman Paul Ryan (R-WI) have demonstrated strong bipartisan, bicameral leadership on an issue that is critical to American leadership globally and the ability of manufacturers and their workers in the United States to compete more successfully for the approximately $12 trillion in manufactured goods traded internationally.

TPA is a longstanding and proven procedural partnership between Congress and the Executive Branch that facilitates negotiation and approval of trade agreements that open markets for manufacturers in the United States. It enables Congress to set trade negotiating objectives and increases Congress’s power to shape and influence deals. (continue reading…)

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Dear India: Actions Speak Louder than Words

Every year, the city of Hannover, Germany, hosts the world’s largest industrial trade fair—the Hannover Messe—which increasingly highlights the most important advancements in manufacturing technologies. Next year, the United States will be the official partner country, and the National Association of Manufacturers (NAM) is very excited that manufacturers in the United States will have a special showcase for their innovations and best-in-class manufacturing solutions. (continue reading…)

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Purported TPP Investment Text Confirms Pro-Rule of Law and Transparent Processes, but Raises Questions about Some TPP Countries’ Commitment to Fairness and the Rule of Law

Last night, WikiLeaks put out what it claims is the draft of the investment text being negotiated in the Trans-Pacific Partnership (TPP).

For manufacturers in the United States, many of whom use foreign investment to spur U.S. exports and make overseas sales, the text looks familiar because it is substantially based on the highly detailed U.S. model investment negotiating text that has been publicly available on both the websites of the Office of the United States Trade Representative (USTR) and the Department of States since the Obama Administration completed its multi-year review of the investment text in April 2012. That review, which was public and sought input from stakeholders throughout the United States, resulted in a strong investment negotiating document that seeks a more level playing field for our nation’s manufacturers and other job-creators in this country. (continue reading…)

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NAM Urges Repeal of WTO-Inconsistent Labeling Rules

Linda Dempsey, vice president for international economic affairs with the National Association of Manufacturers (NAM), testified today at a House Agriculture Subcommittee on Livestock and Foreign Agriculture hearing entitled, “Implications of Potential Retaliatory Measures Taken against the United States in response to Meat Labeling Requirements.”

At the hearing, Dempsey underscored that the United States’ continued failure to bring its Country-of-Origin Labeling (COOL) rules for muscle cuts of meat into compliance with its World Trade Organization (WTO) obligations is threatening U.S. manufactured goods exports to Canada and Mexico. The NAM is co-chair of the COOL Reform Coalition, along with the U.S. Chamber of Commerce. (continue reading…)

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The Economic Development and Jobs Growth Tool the Anti-Trade Lobby Loves to Hate; Why ISDS Deserves More than a Little Respect

Clean water in Mexico, new solar energy production in the Czech Republic, food production in Zimbabwe, and energy production in South America. All these are examples of how private entrepreneurial investment from one country to another has the capacity to improve peoples’ lives. (continue reading…)

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Expanding America’s Global Opportunities – Hannover Messe 2016

This evening, business leaders and policymakers will attend the signing of the Memorandum of Understanding (MOU) naming the United States as the Hannover Messe partner country for 2016. Hannover Messe is the world’s largest industrial trade fair, held annually in Hanover, Germany. (continue reading…)

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Korea Trade Agreement Boosts Exports, Provides Mechanisms to Address Challenges

Manufacturers cheered when the U.S.-South Korea Free Trade Agreement (KORUS FTA) entered into force three years ago yesterday. The deal aimed to open Asia’s fourth largest economy to U.S. exports of industrial goods and a wide array of other products and services. It established strong transparency rules, competition policy and intellectual property and other protections that sought to establish a level playing field.

While the KORUS FTA is still being implemented and challenges remain, manufacturers are seeing important gains. Roughly 80 percent of Korean tariffs on U.S. products have already been eliminated, helping to drive strong sales of plastics, processed foods, semiconductor equipment and many other manufactured products. Overall, U.S. manufactured good exports to South Korea increased $2.6 billion between 2012 and 2014, reaching a record high of $37.4 billion last year. (continue reading…)

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