Manufacturers Rally Behind Trade Promotion Authority…

Manufacturers Rally Behind Trade Promotion Authority…

Apr 21, 2015

“Manufacturers Rally Behind Trade Promotion Authority Legislation”

By Mallory Micetich, National Association of Manufacturers

Washington, D.C., April 16, 2015 – Manufacturers are rallying behind bipartisan Trade Promotion Authority (TPA) legislation introduced today by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) and House Ways and Means Committee Chairman Paul Ryan (R-WI).

The bipartisan, bicameral trade legislation would renew TPA, enabling the United States to conclude and implement comprehensive, market-opening trade agreements that will level the playing field abroad and strengthen the global competitiveness of manufacturers across the country. TPA was last renewed in 2002 and expired in 2007.

“Manufacturers need TPA and new market-opening trade agreements now more than ever,” said National Association of Manufacturers (NAM) Vice Chair for International Economic Policy and Emerson Chairman and CEO David Farr. “Trade is increasingly critical for the bottom lines of businesses of all sizes, but U.S. exports face higher tariffs and more barriers abroad than nearly any other major economy. Manufacturers need TPA to restore U.S. leadership in striking new trade deals that will knock down barriers so that manufacturers can improve their access to the world’s consumers.”

In October 2013, the NAM Board of Directors passed a resolution calling on Congress and the Obama Administration to work together to restore TPA so the United States can continue to open overseas markets and pursue the kind of robust trade policies and agreements that will help grow manufacturing. The NAM recently released a new report, titled “Trading Up,” which highlights the benefits of trade and TPA for America’s more than 256,000 manufacturers and their more than 12.3 million employees.

“Where there is a level playing field abroad, manufacturers in the United States are succeeding,” said NAM Vice President of International Economic Affairs Linda Dempsey. “America’s 20 existing free trade agreement partners account for less than 10 percent of the global economy but purchase nearly half of all U.S.-manufactured goods exports. To build on that strong track record, manufacturers call on Congress to move TPA legislation without further delay.”

TPA is a longstanding and proven partnership between Congress and the executive branch that facilitates negotiation and approval of trade agreements. It ensures congressional input on trade negotiations and increases Congress’ power to shape and influence trade deals.

To read more about the NAM’s TPA priorities and how manufacturers in every state are benefitting from trade, click here.

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