NAM outlines goals for successful trade negotiations
Last week, the Obama Administration formally notified Congress of its intent to negotiate a trade agreement with the European Union (EU). The United States and the EU already have the largest commercial relationship in the world, yet major opportunities for increased trade and investment remain untapped.
On March 27, NAM President and CEO Jay Timmons sent a letter to President Obama expressing strong support for a Transatlantic Trade and Investment Partnership that will ensure global competitiveness, grow the economy and create jobs. To achieve that result, Timmons emphasized that the ultimate deal must be “one that removes unnecessary impediments to manufacturing growth and does not create new ones.” Manufacturers will be focusing on achieving strong results on tariffs, non-tariff barriers, investment, intellectual property and other key outcomes. On regulatory barriers, the NAM will seek outcomes designed to “favor markets and adhere to sound principles of science, risk assessment and cost-benefit analysis.”
The NAM has been a longstanding supporter of U.S.-EU negotiations that will tear down barriers, reduce trading and regulatory costs and set high standards. With negotiations set to begin this summer, the NAM’s Transatlantic Trade Task Force and International Standards and Conformity Assessment Task Force are ramping up their efforts to prioritize key barriers and outcomes that will improve competitiveness, access and commercial opportunities for manufacturers. The NAM is one of the leaders of the broader business community’s efforts in a number of areas, including intellectual property, investment, customs and regulatory cooperation and goods. If you would like to be more involved in these activities, please e-mail NAM Trade. Click here for the NAM’s press statement and here for articles from The Hill and The Washington Post.