NAM Urges Congress to Pass Free Trade Agreements
National Association of Manufacturers President and CEO Jay Timmons has expressed his organization’s support for President Obama’s free trade agreements with Colombia, South Korea and Panama. The trade group is urging Congress to pass the measures.
"For too long, we have remained on the sidelines while our competitors overseas have negotiated new agreements with partners all over the world, costing manufacturers valuable market share that is difficult to regain,” Timmons says. “With a stagnant economy and unemployment still above 9 percent, these three agreements will provide our economy with a much-needed economic boost to create jobs.
The U.S. International Trade Commission estimates the agreements will increase exports by $13 billion. “We cannot lose sight that free trade agreements are part of the solution, not the problem. Our nation has had a manufactured goods trade surplus with our free trade partners that has accumulated to more than $70 billion over the past three years. We must continue to negotiate new free trade agreements to meet the goal of doubling exports by 2014,” Timmons says.