Washington, D.C. – Following the Biden administration’s announcement on the launch of the Indo-Pacific Economic Framework for Prosperity, National Association of Manufacturers Vice President of International Economic Affairs Ken Monahan released the following statement:
“NAM President and CEO Jay Timmons pressed the administration on critical components to the IPEF earlier this year, and manufacturers are encouraged that the framework will address key manufacturing priorities we have outlined in areas such as digital economy, resilient supply chains and transparency and good governance. These priorities are essential for manufacturing businesses and workers for a region that represents more than two-fifths of total U.S. manufacturing trade and is a market for U.S. exports that support nearly 2 million American jobs.
“As discussions continue, we’re looking for U.S. leaders to support manufacturing jobs by taking an approach that opens markets, strengthens U.S. innovation and technology leadership, raises global standards and establishes best-in-class trade rules.”
Background: NAM President and CEO Jay Timmons stressed in a February letter to senior administration officials that high-standards trade with the Indo-Pacific is critical to manufacturers’ success and global competitiveness. Additionally, the NAM submitted comments on the IPEF in April to the Office of the U.S. Trade Representative.
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 12.7 million men and women, contributes $2.71 trillion to the U.S. economy annually and accounts for 58% 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 NAM or to follow us on Twitter and Facebook, please visit www.nam.org.