Trade For America - Jobs. Growth. Engagement. Prosperity.
Manufacturing
Too often the perception is that the heyday
of U.S. manufacturing is in the past, but
nothing could be further from the truth.
On its own, U.S. manufacturing would be
the eighth largest economy in the world.
As shown in the seventh edition of the
National Association of Manufacturers (NAM)
and The Manufacturing Institute’s, ”The Facts About Modern Manufacturing,” the U.S. manufacturing industry:
- Makes the highest contribution to economic growth of any sector
- Accounts for more than 70 percent of private sector research and development, making it the center for a wide range of advanced technologies that cut energy use and lead to a cleaner environment
- Achieves a high productivity rate year in and year out, increasing by more than 50 percent in the past decade
- Contributes more than 60 percent of U.S. exports at a rate of about $50 billion a month
- Pays wages and benefits that are about 25 percent higher than in non-manufacturing jobs
- Multiplies every dollar spent into an additional $1.37 in economic activity, greater than any other sector
While the U.S. market is the most open in the world, U.S. companies continue to face tariffs and other barriers in other countries. In order for U.S. manufacturers to compete globally, we must bring down foreign barriers to our exports. To help level the international playing field it is essential that Congress pass bilateral free trade agreements (FTAs) and ensure the successful conclusion of the Doha Round of World Trade Organization (WTO) negotiations.
Most American workers have a very large stake in issues affecting trade. In fact,one out of every five manufacturing jobs is tied to exports. Millions of Americans work for companies that are not directly involved in trade but supply companies who are global market leaders. Companies that export create jobs nearly 20 percent faster than non-exporting companies. The pay, on average is likewise 15 percent more than other companies. Ninety-eight percent of the world’s population lives outside the United States; therefore, we need to redouble our efforts to increase our competitiveness in the global marketplace.
Moving the U.S. Manufacturing Industry Forward with Trade
On behalf of the U.S. manufacturing industry, the Trade for America Coalition will continue to work with Congress this year to:
- Renew TPA so the Doha Round and new FTAs can be negotiated
- Pass pending FTAs with Columbia, Panama, Peru and Korean. This will open new markets, eliminate tariffs, protect intellectual property, and create two-way trade for U.S. manufacturing
- support and pass legislation that provides WTO-compliant remedies to counter subsidies from non-market countries like China
To that end, the NAM and its members will work to:
- Open foreign markets to U.S. Exports through free and fair trade agreements
- Conclude the WTO’s Doha Round of trade negotiation, which will help allow American manufacturers to increase international sales
- Put an end to government intervention in currency markets
- Streamline trade rules to reduce the barriers to trade
- Create more effective enforcement of trade and compliance rules to ensure our foreign competitors play fairly.
For more information about the National Association of Manufacturers, please go to: www.nam.org