Earlier this week, the Engage Cuba coalition – of which the NAM is a partner – released with the Atlantic Council the results of a new poll that found a majority of Americans in four key “heartland” states support President Barack Obama’s decision to restore diplomatic ties with Cuba and are in favor of lifting all restrictions on travel to the island. (continue reading…)
With the 11th round of Transatlantic Trade and Investment Partnership (TTIP) talks underway this week in Miami, it’s time for the United States and European Union to get serious and make tangible progress toward a comprehensive agreement that delivers concrete market access, tackles regulatory differences, creates enforceable rules and sets high standards that can be a model for third-world countries. (continue reading…)
Negotiators from the twelve Trans-Pacific Partnership (TPP) countries are meeting this week in Atlanta, GA, to seek to close a final TPP agreement. Manufacturers in the U.S. are watching closely to see if negotiators aim for trade and investment liberalization with high-standards that will increase the opportunities and competitiveness of America’s manufacturing sector and expand opportunities for new partnerships that will benefit all of the TPP nations. (continue reading…)
HANNOVER MESSE 2016 Press Conference: New Manufacturing Technologies are Gateways for Global Competitiveness
Leading manufacturing CEOs and U.S. and International trade officials gathered in Chicago, Illinois, for a press conference today to discuss the state of manufacturing in advance of HANNOVER MESSE 2016—the world’s largest and most prominent industrial technology event. The United States has the distinction of partner country for next year’s gathering, which will take place April 25-29, 2016, in Hannover, Germany. (continue reading…)
The NAM’s Jay Timmons joined leading manufacturing CEOs from Sherwin-Williams, Marlin Steel and Goodyear Tire and Rubber Company in Cleveland yesterday as part of the NAM’s Executive Insights series. Panelists discussed the importance of advancing policies and regulations to support manufacturing, and in turn, create jobs and grow the economy in Ohio and across the United States.
Manufacturers’ contribution to the U.S. economy has steadily risen since 2009, reaching $2.09 trillion in 2014. In Ohio alone, manufacturing output was $99.83 billion in 2013, directly employing 682,600 jobs in the state in 2014. However, we need the right public policy and tools to keep America growing –to promote free and fair trade, diverse energy options, immigration reform, tax, health care and legal reform, and improved infrastructure. (continue reading…)
More than $1.8 billion dollars in taxes. That is what manufacturers in the U.S. are facing because of nearly 900 days of inaction by the House and Senate on a longstanding program to eliminate outdated tariffs on imported inputs and other products not even made in the U.S. (continue reading…)
Members of Congress, policy experts, economists, and industry leaders gathered at the Newseum in downtown Washington, D.C., yesterday morning for a policy breakfast briefing event to examine an important question: “Is India Open For Business?” after the first year of the Modi government. (continue reading…)
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…)
Trade critics like to decry unfairness in the global economy, trade deficits and more in their fight against Trade Promotion Authority (TPA). But what solution do they provide? Not one.
Manufacturers are in Washington, DC, today as part of the NAM Manufacturing Summit to talk about solutions and ways to grow manufacturing. For those concerned about the lack of a level playing field, TPA is key to solve the status quo disadvantage faced by manufacturers in the U.S.
Consider the status quo for U.S. manufacturers:
- The U.S. has the most open market of any major economy, with more than two-thirds of all manufactured imports entering the U.S. duty-free in 2014. Under our Constitution and laws, the U.S. already accords the basic non-discrimination, fair treatment and private property protections found in our trade agreements to foreign products and investments.
- Except with our 20 free trade agreement partners, U.S. manufacturers face far greater barriers overseas for our exports, products and innovation. According to the well-respected World Economic Forum, U.S. exporters face steeper trade barriers abroad than virtually any other major country, including Mexico, China and European countries largely because those countries have entered into more market-access agreements than the United States.
In the markets where the U.S. is currently negotiating free trade agreements, U.S. manufacturers face substantial barriers. Manufacturers face tariffs as high as 83 percent on automotive products, 70 percent on machinery and capital equipment, and 30 percent or more on chemicals, health and medical equipment and infrastructure products with some of the Trans-Pacific Partnership countries. Manufacturers face tariffs as high as 20 percent on electrical equipment, 15 percent on consumer goods, 14 percent on information technology products and 10 percent on machinery, capital equipment and metal goods in the European Union. Beyond tariffs, manufacturers face a wide range of other discriminatory barriers around the world—from local production requirements and discriminatory regulations and standards to weak protection and enforcement of U.S. property, innovation and inventions.
How do we solve this status quo disadvantage? Certainly not by standing still as TPA critics seem to believe. In fact, TPA is critical to reverse this disadvantage so that the U.S. can negotiate and conclude new market opening trade agreements that will open markets and help make sure other countries treat our manufacturers and goods as we already treat them.
Manufacturers urge Congress to move quickly to pass TPA so that we can grow manufacturing in the United States, not fall farther behind.
Manufacturing production was unchanged in April, slowing from the 0.3 percent gain experienced in March. Overall, output in the sector has been very soft for five straight months. Manufacturers have struggled with a number of significant headwinds in the U.S. and global economies, including challenges in growing exports, residual impacts from the West Coast ports slowdown, regional weather challenges and an anxious consumer. As a result, the year-over-year pace has slowed from 4.5 percent in November to 2.3 percent in April. Similarly, capacity utilization in manufacturing has dropped from 79.8 percent five months ago to 78.2 percent today.
Durable goods production increased 0.1 percent in April, with output for nondurable goods firms off 0.1 percent. There were strong increases for manufacturing production for nonmetallic mineral products (up 1.4 percent), electrical equipment and appliances (up 1.3 percent), motor vehicles and parts (up 1.3 percent) and wood products (up 1.3 percent). However, these were offset by declining output in the machinery (down 0.9 percent), aerospace and miscellaneous transportation equipment (down 0.6 percent), and food, beverage and tobacco products (down 0.6 percent) sectors, among others. (continue reading…)