Manufacturers: House Passage of Trade Agreements a Positive Step for Job Creation
10/12/11 - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement after the House of Representatives passed the free trade agreements (FTAs) with Colombia, South Korea and Panama:“Today’s vote in the House to pass the free trade agreements is a shot in the arm for job creation. Manufacturers throughout the United States have lost valuable market share year after year. With these agreements, manufacturers will be able to expand and reach new consumers in Colombia, South Korea and Panama.
The passage of these agreements has been a top trade priority of the NAM for four years, and we are pleased the agreements received bipartisan support.
The enactment of these three agreements is an important and necessary step on the way to doubling exports by 2014. The U.S. International Trade Commission estimates that the agreements will increase exports by $13 billion. American workers also will benefit greatly -- the NAM estimates that the agreements will result in an additional $8 million a day in wages and benefits for the manufacturing workforce.
Members of the House who stood up for jobs today and voted to pass these agreements took an important step toward securing our nation’s manufacturing competitiveness at a critical time for our economy. We thank Speaker Boehner and House leadership for scheduling this vote soon after the agreements were sent to Congress by President Obama. Manufacturers urge the Senate to swiftly pass the agreements so the implementing bills can be sent to the President’s desk for his signature.”