Manufacturers: WTO Trade Facilitation Agreement Will Cut Red Tape, Boost Economy

Work Remains on Information Technology Agreement and Disciplining Subsidies

National Association of Manufacturers (NAM) Vice President of International Economic Affairs Linda Dempsey issued this statement following the World Trade Organization’s (WTO) conclusion of a new Trade Facilitation Agreement:

“Manufacturers are pleased to see the WTO conclude a strong and binding Trade Facilitation Agreement that will cut red tape at borders throughout the world and boost economic activity. Predictable, efficient and transparent customs procedures will help manufacturers in the United States more effectively and efficiently access the 95 percent of global customers that live outside our borders.

The Trade Facilitation Agreement includes many provisions that the NAM supports, and it is evidence of the WTO’s continued vitality. Given the role of expanding international trade in growing economic opportunities and supporting job growth, manufacturers hope this agreement will create new momentum for new trade liberalization at the WTO. Manufacturers applaud the non-stop efforts of U.S. Trade Representative Michael Froman and WTO Director-General Roberto Azevêdo, without whom this achievement would not have been possible.

Still, there is more work to do. Manufacturers are highly disappointed by the failure to expand the Information Technology Agreement (ITA). We urge its completion on an expedited basis. Similarly, the extension of the ‘Peace Clause’ on agricultural subsidies is very concerning and we hope new negotiations will focus on market structures that ultimately can best promote long-term food security. The actions of a few countries to forestall concrete progress on the ITA expansion and to demand differential treatment only stymie opportunities for global economic growth.”

Related Tags: