Manufacturers Encouraged by Path Toward Votes on Free Trade Agreements08/04/11 - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement on the announcement by Senators Reid (D-NV) and McConnell (R-KY) to vote on the pending Colombia, Korea and Panama free trade agreements when Congress returns from August recess:
“With each passing day, manufacturers are losing valuable market share to competitors overseas. The opportunity to reverse this trend is at our fingertips. By entering into free trade agreements with Colombia, South Korea and Panama manufacturers in the United States will add an estimated $13 billion annually in exports.
The announcement by Leaders Reid and McConnell that the Senate will vote on the agreements – and the assurances from Chairman Camp (R-MI) that the House is also prepared to move forward in September – means that we are moving closer to creating 100,000 jobs that have been languishing at a critical time for our economy.
Manufacturers urge Congress to pass all three agreements and Trade Adjustment Assistance. American workers are losing nearly $8 million a day in wages and benefits while the agreements remain stalled. We can no longer afford to wait, and we look forward to a vote in early September.”