The American Iron and Steel Institute (AISI) applauded President Obama's goal of doubling the nation's exports by 2015 and stimulating job growth by creating and preserving manufacturing jobs for Americans. President Obama confirmed his determination to achieve this goal at a speech made Thursday at the Export-Import Bank annual meeting.
Approximately 70 percent of US exports are manufactured goods and roughly 75 percent of manufactured goods contain some steel. AISI suggests the following trade policy initiatives to meet the Administration's goal of increasing US exports and creating new jobs.
- Address Chinese currency manipulation - By undervaluing its currency, China effectively provides an export subsidy to its manufactured goods, giving Chinese producers an unfair advantage in their home market and in third country markets.
- Enforce trade agreements - Trade agreements are intended to expand rules-based trade, but that will only happen if the agreements are fully and aggressively enforced.
- Negotiate better trade agreements - Increasing exports requires elimination of a range of foreign government policies and practices that impede our access to other countries' markets or otherwise distort markets around the world.
- Enforce trade laws - Congress and the Administration should support increased funding for the Department of Commerce's Import Administration and direct Customs and Border Protection to place an enhanced focus on commercial enforcement to fight fraud and circumvention of trade law orders and to address imported product safety problems.
- Promote a pro-manufacturing agenda - Advancing a pro-manufacturing agenda must be considered in all government programs and regulations and US policies must not discourage domestic investment, such as the proposed unilateral regulation of manufacturers' greenhouse gas emissions under the Clean Air Act.