Trade

With a level playing field and an accessible market, manufacturers in America can out-perform any competitor. That’s why we need smart trade deals that expand opportunities to sell our products around the world and ensure global trade is open, fair and free.

Policy and Legal

Why the Ex-Im Bank is Critical for Manufacturers

The Ex-Im Bank helps U.S. manufacturers compete for deals around the world.

cargo unloaded at port of Los Angeles

In May, the U.S. Senate voted to confirm President Donald Trump’s nominees to the Export-Import Bank board. The board now has a quorum for the first time in four years, allowing it once again to consider deals larger than $10 million. Manufacturers’ attention now turns to securing congressional reauthorization of the Ex-Im Bank.

NAM President and CEO Jay Timmons explains what’s at stake.

The NAM is leading the fight for Ex-Im Bank reauthorization. Start with the basics. What does that mean?

Later this year, Congress will have to vote on whether to keep the Ex-Im Bank open and authorize it to continue helping manufacturers in the United States compete for deals around the world.

Why does the Ex-Im Bank matter so much to manufacturers?

It’s a vital tool to support manufacturing jobs in the United States. The Ex-Im Bank has supported 2.5 million jobs since 2000. Typically, more than 90 percent of the Ex-Im Bank’s transactions directly support small businesses.

And here’s something that’s really impressive — the Ex-Im Bank has generated $9.6 billion for taxpayers since 1992. It’s a government agency that makes money!

Other countries are running nearly 100 other export credit agencies. So, if we don’t have the Ex-Im Bank, we are at a big disadvantage.

You mention “export credit agencies.” You mean other countries have their own versions of the Ex-Im Bank?

Exactly. And they use those agencies to lure manufacturers to their countries, support their own manufacturers and steal manufacturing jobs away from the United States. That’s not going to change. So, we can “disarm” ourselves here in the United States and let other countries like China have the advantage. Or we can support the Ex-Im Bank.

So this all comes back to China?

Definitely. It helps level the playing field for manufacturers in the United States to compete with China, as well as other countries.

Two of China’s export credit agencies provided $45 billion in medium- and long-term investment support for projects around the world, more than the rest of the world combined. That’s what we have to compete against.

What can manufacturing workers or manufacturing supporters do to make a difference?

Contact your senators and representatives. Tell them to support the Ex-Im Bank and reauthorize it. Let them know that supporting the Ex-Im Bank is supporting American manufacturing workers.

Policy and Legal

Latest Move on Tariffs a ‘Molotov Cocktail’ of Policy

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National Association of Manufacturers President and CEO Jay Timmons warned today of the grave consequences of the administration’s plan to levy tariffs on Mexico, and ultimately manufacturing workers, to stem migration from Central America.

Saying that intertwining trade, tariffs and immigration creates a Molotov cocktail of policy, Timmons urged Congress and the administration to work together to find a comprehensive legislative solution on immigration, which manufacturers have offered in A Way Forward.

Click here to read Timmons’ full response.

Press Releases

NAM on Announced U.S. Tariffs on Mexico

Timmons: “These Proposed Tariffs Would Have Devastating Consequences on Manufacturers”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on announced U.S. tariffs on Mexico:

Manufacturers, like so many Americans and like President Trump, are frustrated with our broken immigration system and by the inaction that has led to a true humanitarian crisis. The answer to our broken system is a comprehensive, legislative solution, which manufacturers have offered in ‘A Way Forward.’ We continue to urge the administration and Congress to work together to address this crisis because the problem will not be solved just by blaming other countries. Intertwining difficult trade, tariff and immigration issues creates a Molotov cocktail of policy, and America’s manufacturing workers should not be forced to suffer because of the failure to fix our immigration system.

These proposed tariffs would have devastating consequences on manufacturers in America and on American consumers. We have taken our concerns to the highest levels of the administration and strongly urge them to consider carefully the impact of this action on working families across this country. Manufacturers have been working hard to secure passage of the U.S.–Mexico–Canada Agreement, and the last thing we want to do is put that landmark deal—and the 2 million manufacturing jobs that depend on North American trade—in jeopardy.

We will continue to work with leaders on both sides of the aisle on immigration reform, just as we are working to continue our hard-won progress on the USMCA. We cannot afford to put the livelihoods of millions of Americans at risk at the same time.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.38 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Press Releases

NAM on USMCA Statement of Administrative Action

Timmons: “Manufacturers Are Firmly Behind The USMCA”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons responded to the Trump Administration submitting the draft Statement of Administrative Action on the USMCA to Congress:

Manufacturers are firmly behind the USMCA, as is a growing chorus of state and local groups. The North American trading relationship is crucial to the success of manufacturing in America and more than 2 million manufacturing jobs. For manufacturers, the modernized agreement includes best-in-class intellectual property rules, sets new standards for innovation and the 21st-century digital economy, eliminates red tape at the border, improves transparency, ensures we can sell products duty free and much more.

After a promising ITC report, the end of North American steel and aluminum tariffs and real progress in Canada and Mexico, we are moving closer to making the USMCA a reality. Manufacturers want to see this momentum continue, including through constructive conversations between USTR and the Hill, so we can get USMCA across the finish line for the men and women who make things in America.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.38 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Policy and Legal

USMCA Passage is Critical for Manufacturers in Every State

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cargo unloaded at port of Los Angeles

Last year, leaders of Canada, Mexico, and the United States came together to modernize the 25-year-old North American Free Trade Agreement. The result was the United States-Mexico-Canada Agreement, or USMCA – a broad update that was agreed to in November 2018. Yet more than six months later the USMCA is still pending approval in Congress. Comprehensive new state-level data from the National Association of Manufacturers shows the USMCA’s positive impact, and manufacturers are voicing their support for this deal.

“The USMCA is about restoring certainty, improving the rule of law and expanding our partnerships with our most significant trade partners,” Linda Dempsey, NAM vice president of international economic affairs, said. “Not only will its ratification grant manufacturers the certainty they need to continue growing and creating jobs into the future, but it will also expand U.S. manufacturing access to Canada and Mexico and help level the playing field for American workers.”

As manufacturers’ most critical partners, Canada and Mexico purchase one-fifth of the total value of U.S. manufacturing output – more than the next 11 countries combined. These exports support about 2 million American manufacturing jobs and 43,000 small- and medium-sized businesses.

“Passage of this agreement is critical for U.S. manufacturing sector,” said Dempsey. “Canada and Mexico are manufacturers’ most important partners.”

The agreement promises stronger intellectual property rules to protect manufacturing inventions, setting new and improved standards for the digital economy. It expands U.S. manufacturing’s ability to export products abroad, ensuring manufacturers can sell their products duty free and eliminating red tape at the border that often hinders small- and medium-sized businesses seeking to sell their products in both Canada and Mexico. The USMCA also levels the playing field for U.S. manufacturers in critical ways by raising standards, improving transparency and prohibiting anti-U.S. discrimination from foreign governments. The benefits would extend to every state, offering communities across the country opportunities for growth.

With a push for action among policymakers and the public, manufacturers are asking Congress to ratify this agreement that improves trade relationships, strengthens the manufacturing sector and benefits the 12 million employees who work in the manufacturing industry.

“Without movement,” Dempsey said, “American manufacturing workers and communities are at risk.”

Press Releases

NAM Urges U.S., China to Reach a Bilateral, Enforceable Trade Deal

Timmons: Manufacturers Need a “Lasting Agreement That Ends China’s Unfair Practices, Eliminates Tariffs and Provides Real Enforcement”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the ongoing U.S.–China talks and the implementation of increased U.S. tariffs on Chinese products:

U.S. and Chinese officials must accelerate their efforts to reach a lasting agreement that ends China’s unfair practices, eliminates tariffs and provides real enforcement. These developments should add a greater sense of urgency to the negotiations.

For years, China has refused to play by the rules, harming manufacturers with intellectual property theft and other unfair trade practices. That’s why the NAM was the first business association, in early 2018, to call for a bilateral, enforceable trade agreement to help level the playing field for America’s manufacturing workers.

A trade war will not solve our problems. So we look forward to the United States and China returning to the negotiating table to get this deal done as soon as possible.

The NAM first called for the administration to pursue a bilateral trade agreement with China in a letter from Timmons to President Trump in January 2018. The NAM also testified before the Senate Finance Committee and U.S. Trade Representative on the impact of tariffs and the importance of reaching an enforceable bilateral trade agreement with China. In August 2018, the NAM released a full negotiating objectives framework for an agreement that will address China’s unfair trade practices and level the playing field for manufacturers in the United States.

-NAM-

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Press Releases

NAM: Ex-Im Votes Empower Manufacturers to More Aggressively Compete Against China, Others

Timmons: Confirmation of Agency Nominees a Major Bipartisan Victory

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement after the Senate voted to confirm Export-Import Bank nominees Kimberly Reed, Judith DelZoppo Pryor and Spencer Bachus, a move that will significantly enhance manufacturers’ competitiveness against foreign nations, including China:

Now that the Export-Import Bank is on track to be fully functional again, after a four-year hiatus, manufacturers in America can once more reach their full potential and more aggressively compete against China and others. While the agency was sidelined, billions of dollars’ worth of deals were lost to foreign competitors, resulting in tens of thousands of unrealized manufacturing jobs. Thanks to the leadership of President Trump, Leader McConnell and senators on both sides of the aisle, this self-inflicted damage is now over.

This bipartisan victory will be short-lived, however, if Congress does not act swiftly to reauthorize the Ex-Im Bank before the September deadline. For manufacturers, this is a serious threat looming on the horizon. If Congress fails to reauthorize the Ex-Im Bank, lawmakers will be responsible for slowing manufacturing’s growth and handing countries like China a competitive edge. Now is not the time to squander the historic progress we’ve made in recent years.

The NAM has been a leading proponent of restoring the Ex-Im Bank, which has supported 1.7 million American jobs over the past 10 years, to full functionality. In January, Timmons sent a letter to Senate leaders urging them to approve swiftly the full slate of stalled, qualified nominees to the Ex-Im Bank’s board of directors following their bipartisan approval by the Senate Banking Committee.

Quick facts about the Ex-Im Bank:

  • The agency has supported 1.7 million jobs over the past 10 years.
  • On average, more than 90 percent of the Ex-Im Bank’s transactions directly support small businesses.
  • The agency has generated $9.6 billion for taxpayers since 1992.
  • Foreign competitors are stealing America’s competitive advantage by devoting hundreds of billions of dollars to official export credit agency financing for domestic manufacturers.
  • The agency’s default rate is better than many commercial lenders and far below the 2 percent maximum rate set by Congress.

Click here to learn more about how the Ex-Im board vacancies impacted manufacturers and here for more information about its role as a critical tool in checking China’s ambitions.

-NAM-

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Press Releases

NAM to Key-Vote Confirmation of Ex-Im Bank Nominees

Washington, D.C. – The National Association of Manufacturers announced in a letter to members of the U.S. Senate today that it will key-vote Senate confirmation of Export-Import Bank nominees Kimberly Reed, Judith DelZoppo Pryor and Spencer Bachus:

The Ex-Im Bank has been hobbled for more than four years now, unable to consider any major U.S. sales greater than $10 million and unable to implement the reforms still outstanding from the 2015 Ex-Im Bank reauthorization, wrote NAM Senior Vice President of Policy and Government Relations Aric Newhouse. Manufacturers in America have lost approximately $119 billion in output as a result, translating into 80,000 fewer American manufacturing jobs in 2016 and 2017. At the same time, nearly 100 foreign export credit agencies supported by countries from China and Russia to Brazil and Germany have been growing to promote exports on behalf of their industries and workers. The Senate must act to reverse this loss and restore the Ex-Im Bank to full operation by confirming Reed, Bachus and Pryor to the Ex-Im Bank Board.

-NAM-

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Press Releases

NAM Welcomes Cloture Vote on Ex-Im Bank Nominees

Timmons: “A Fully Functional Ex-Im Bank Is a Top Priority for Manufacturers”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement after Senate Majority Leader Mitch McConnell filed cloture on the nominations of Kimberly Reed, Judith DelZoppo Pryor and Spencer Bachus to the Export-Import Bank:

We thank Leader McConnell for bringing us one step closer to restoring manufacturers’ competitiveness. A fully functional Ex-Im Bank is a top priority for manufacturers of all sizes, and we estimate that 80,000 jobs and $119 billion in output were lost from 2016 to 2018 because of the agency’s inability to approve major deals. That’s why we’re looking forward to the nominees’ confirmation next week to secure this victory for America’s manufacturing workers.

The NAM has been a leading proponent of restoring the Ex-Im Bank, which has supported 1.4 million American jobs over the past several years, to full functionality. In January, Timmons sent a letter to Senate leaders urging them to swiftly approve the full slate of stalled, qualified nominees to the Ex-Im Bank’s board of directors following their bipartisan approval by the Senate Banking Committee. NAM Vice President of International Economic Affairs Linda Dempsey also penned an op-ed in The Hill calling on the Senate to take action.

Quick facts about the Ex-Im Bank:

  • The Ex-Im Bank has supported 1.4 million jobs over the past eight years.
  • More than 90 percent of the Ex-Im Bank’s fiscal 2016 transactions directly support small businesses.
  • The Ex-Im Bank has generated $7 billion for taxpayers over the past 20 years.
  • Foreign competitors are stealing America’s competitive disadvantage by devoting hundreds of billions of dollars to official export credit agency financing for domestic manufacturers.
  • The Ex-Im Bank’s default rate of just 0.25 percent is better than many commercial lenders.
  • Learn more about how the Ex-Im board vacancies hurt America and why the bank is a critical tool in checking China’s ambitions.

-NAM-

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

Press Releases

NAM Statement on ITC USMCA Report

Washington, D.C. – National Association of Manufacturers Vice President of International Economic Affairs, Linda Dempsey, released the following statement on the International Trade Commission’s report on the United States–Mexico–Canada Agreement:

The USMCA is a win for manufacturers. This agreement will level the playing field for manufacturers in the United States and support the 2 million American manufacturing jobs that depend on our exports to Canada and Mexico. That’s why the USMCA is our top trade priority, and we urge Congress to approve it as soon as possible.

Background

For manufacturers, the USMCA:

  • Includes best-in-class intellectual property rules.
  • Sets new standards for the 21st-century digital economy.
  • Ensures manufacturers can sell their products duty-free.
  • Eliminates red tape at the border.
  • Raises standards, improves transparency and prohibits anti-U.S. discrimination and anti-competitive activity.
  • Provides the same binding enforcement for all obligations.

Click here to learn more about why this agreement is a essential to manufacturing and manufacturing workers in the United States.

-NAM-

The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

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