NAM Releases State Trade Fact Sheets
Data Show Trade is Supporting Jobs and Economies across the Country
As part of an effort to continue to educate policymakers and the public on the importance of trade, the National Association of Manufacturers (NAM) released today updated fact sheets based on full-year 2013 data that highlight the importance of manufactured goods exports for jobs and growth in all 50 states. The NAM also reiterated its call for Congress to take swift action on bipartisan Trade Promotion Authority (TPA) legislation.
“The data show trade is working for manufacturers and workers across the country,” said NAM Vice President of International Economic Affairs Linda Dempsey. “To continue to drive growth and job creation, manufacturers need new trade agreements that open overseas markets and provide better access to the 95 percent of the world’s consumers who live outside our borders. Congress must move quickly to pass TPA and ensure America continues to lead in leveling the global playing field for manufacturers and workers. We cannot afford to stand on the sidelines while other countries negotiate deals that exclude us.”
U.S.-manufactured goods exports have more than doubled since Congress last renewed TPA, rising from $622 billion in 2002 to $1.38 trillion in 2013. Those exports support more than 2.5 million jobs in states across the country. America’s 20 existing free trade agreement partners account for less than 10 percent of the global economy, but purchased nearly half (47.5 percent) of all U.S.-manufactured goods exports in 2013. Last year, the United States had a nearly $60 billion manufacturing trade surplus with its free trade agreement partners.
In October, the NAM Board of Directors passed a resolution calling on the Obama Administration and Congress to act quickly to restore TPA. Every President since Franklin Roosevelt has had authority from Congress to strike trade deals that open overseas markets for manufacturers and workers. According to recent polling data, an overwhelming majority of voters support such collaboration between the President and Congress. In January, the Bipartisan Congressional Trade Priorities Act of 2014 was introduced, which forms a strong basis for the modernization and extension of TPA.
To see more about the NAM’s trade priorities and how manufacturers in every state are benefitting from trade, visit our website.