Few sectors of our economy have as much at stake in America’s trade agenda as our manufacturing industry. American manufacturers understand that if America isn’t moving forward on trade, it’s falling behind. That’s why the industry has come out in strong support of the new Trade Priorities and Accountability Act—because it is vital to unlocking strong, enforceable trade agreements.
In a statement, the National Association of Manufacturers said, “Manufacturers need TPA and new market-opening trade agreements now more than ever. Trade is increasingly critical for the bottom lines of businesses of all sizes, but U.S. exports face higher tariffs and more barriers abroad than nearly any other major economy. Manufacturers need TPA to restore U.S. leadership in striking new trade deals that will knock down barriers so that manufacturers can improve their access to the world’s consumers.”
We know that American workers and manufacturers can compete with any nation if there’s a level playing field. And the data backs that up. As Chairman Ryan and Senator Cruz noted today in a Wall Street Journal op-ed, “If you add up all 20 countries that the U.S. has a trade agreement with, American manufacturers run a $50 billion trade surplus with them. The problem is that not all countries have a trade agreement with the U.S.; American manufacturers run a $500 billion trade deficit with those nations.”
To build on that success and expand free and fair trade where American manufactures can succeed, a host of manufacturing organizations and companies are calling for TPA.
The electrical manufacturers said, “Enactment of TPA is important to timely completion of free trade agreements which contribute to leveler playing fields in regional markets.”
Honeywell‘s CEO noted, “Our employees are working every day, all around the world, to produce the best technology available, and our ability to sell these goods and services into high growth regions hinges on open and fair trade.”
Grocery manufacturers are saying TPA “will help ensure these agreements enable American businesses and workers to compete on a level playing field in the global economy. . . . Ambitious trade agreements will help open the door to new markets for U.S. exports, boost U.S. economic growth, and support well-paying U.S. jobs.”
Intel said, “This is legislation our country sorely needs to maintain and accelerate economic growth through trade with nations around the world.”
A statement from paper and wood manufacturers reads, “Trade Promotion Authority is essential to allow U.S. industry to capitalize on the market-opening trade agreements being negotiated with countries in the Asia-Pacific region and with the European Union.”
The truth is we can’t have a strong manufacturing industry in America without more trade. Ninety-five percent of the world’s consumers live outside the U.S., and we need to break down trade barriers so American companies can reach them. That’s what creates good American jobs, and that’s what this is all about.