This strategy is a blueprint for competitiveness that will unleash the economy and manufacturing’s outsized multiplier effect. Importantly, manufacturers’ aspirations—the four goals laid out in the pages that follow—are ones that all Americans who want to maintain our country’s economic advantage can rally around.
Manufacturers: Congress Must Pass Russia PNTR or Risk Falling Behind
Russia’s Official Admission to the WTO Provides a New Opportunity for Manufacturers and Job Creation
08/22/12 - National Association of Manufacturers (NAM) Senior Vice President of Policy and Government Relations Aric Newhouse issued this statement after Russia officially joined the World Trade Organization (WTO):
“Manufacturers need Congress to pass legislation granting Permanent Normal Trade Relations (PNTR) with Russia to prevent us from missing out on new export opportunities in the growing Russian market. U.S. goods accounted for only 4 percent of the $310 billion of Russian imports in 2011. There is clearly a tremendous opportunity to increase exports, which will help create jobs and fuel our economic growth.
With the unemployment rate at 8.3 percent and the manufacturing sector slowing down, we have to do more to reach new markets and take full advantage of trade opportunities. Congress must act soon or else we risk being left on the sidelines, missing another opportunity to grow our exports.”