While John Engler, CEO of The National Association of Manufacturers (NAM) was happy that President Obama signed the U.S. Manufacturing Enhancement Act of 2010 (H.R. 4380) on August 11, he says that for the U.S. to become more competitive further measures are needed.
"This legislation will cut the costs of doing business in the United States and boost American manufacturing exports," Engler said. "In fact, studies show that these provisions can increase production by $4.6 billion and support almost 90,000 jobs.
"Manufacturers of all sizes use the vital tariff suspensions contained in the Miscellaneous Tariff Bill to obtain raw materials, proprietary inputs and other products that are not available in our nation. Without them, the costs of these companies products will inevitably increase, forcing them to pass on these costs to consumers. This hinders competitiveness and translates into lost jobs for American workers.
"However, additional work is needed by both Congress and the Administration to help lower trade barriers to increase exports." Engler points to the report out on August 11 that the trade gap is at its widest point in 20 years. "The fact that exports decreased in June further illustrates why action is needed now."