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Tag: Economy

Examine the Economy with Industry Expert

Examine the Economy with Industry Expert

Join us at the NEMA 90th Annual Membership Meeting November 16 and 17 in Cleveland, Ohio, when we delve into economic indicators and the economic outlook for 2017 with NEMA Chief Economist Don Leavens, PhD. Below is an excerpt of what you can expect. Listen to the full interview here. Q:         The U.S. economic expansion celebrated its seventh anniversary in June. The unemployment rate of 4.9 percent is close to the full employment rate, inflation is benign, and household wealth is higher Read more [...]
Let’s Get Real

Let’s Get Real

Why is Congress finding it difficult to pass legislation that helps U.S. business export to developing countries, supports U.S. jobs, and sends money to the U.S. Treasury? The subject is the U.S. Export-Import Bank, which for eight decades has helped U.S. exporters “get paid” but which may be in its last days due to a persistent echo-chamber of falsehoods and misunderstandings. Urge your Senators and Representative to support “Ex-Im” reauthorization. Opponents of the Bank, including leading Read more [...]
Might Seem Crazy…

Might Seem Crazy…

World Trade Week (May 19-24) should be a time to sit at the kitchen table and contemplate the importance of international trade for your company, your industry and you. It should also be a time to educate others about what you find out. For example, Where does that key component for your product come from (and what happens if it doesn't come)? How many of your colleagues' jobs are dependent on making sales outside the U.S.? If your potential customer could finance the purchase of your product, Read more [...]
Voices on Trade

Voices on Trade

President Obama's point man on trade, U.S. Trade Representative Michael Froman (@MikeFroman), met recently with the NEMA Board of Governors. Why? I venture a guess that it's because they care about trade and access to international markets. If I'm right, it turns out they are in good company.    Recent polling commissioned by the Business Roundtable (BRT) found that 82 percent of Americans support U.S. trade negotiations to open foreign markets and ensure Read more [...]
Competitiveness is the Best "Protection" for Jobs

Competitiveness is the Best "Protection" for Jobs

U.S. electroindustry companies sell billions of dollars of equipment outside the U.S. each year. These companies employ many thousands of workers here in the U.S., workers whose employment depends on the ability of their company “teams” to innovate, make sales, and satisfy their customers. With most of the world’s people (95 percent) and supporting infrastructure outside the U.S., it makes sense that companies want to gain access to more markets, be competitive, and make more sales Read more [...]
Moving Forward on Minerals

Moving Forward on Minerals

Yesterday the U.S. House of Representatives passed, for the second year in a row, a bill to streamline federal laws to facilitate projects to extract critical minerals from the Earth's crust. What makes these minerals critical, you ask? Many minerals, including but not limited to so-called "rare earth elements", are critical inputs for NEMA member companies. For many of these inputs, U.S. manufacturers are dependent on uncertain sources outside the U.S. The National Strategic Read more [...]
Jobs, Jobs, Who’s Got the Jobs?

Jobs, Jobs, Who’s Got the Jobs?

As Congress prepares to return from its summer recess and President Obama rolls up his sleeves after a vacation in Martha's Vineyard, there is one question on people's minds. What are they going to do about JOBS? Without a doubt, Americans remain very concerned about the nation's current economic conditions and jobs (or lack thereof). And they are looking to Washington for leadership, not continued bipartisan sniping. While the private sector will, as it always has, lead the renewed Read more [...]
Bipartisanship to Upgrade our Infrastructure?

Bipartisanship to Upgrade our Infrastructure?

This week, Senators Kerry, Warner, Hutchison, and Graham came together to announce their proposal to rebuild America’s infrastructure.  The Building and Upgrading Infrastructure for Long-Term Development (BUILD) Act, S. 652, would establish an American Infrastructure Financing Authority - a type of infrastructure bank that would provide loans and loan guarantees.  Transportation, Water, and Energy infrastructure projects greater than $100 million and of national or regional significance Read more [...]
The Newest Dirty Word: NIMBY

The Newest Dirty Word: NIMBY

George Carlin was made famous for his 7 Dirty Words.  But when it comes to meeting our electricity demands of the 21st century, we can add another word whose utterance should cause shock and outrage to the general public: NIMBY. NIMBY (“Not in My Backyard”) is the genesis for much of the opposition to various endeavors that would serve the public, such as improving the electrical grid. The U.S. Chamber of Commerce has just released an updated report on the state of transmission Read more [...]
The Return of Manufacturing to the US

The Return of Manufacturing to the US

Is it possible that manufacturing may leave China and return to the US?  This may be wishful thinking, but there are signs that we may be moving down that path.  Consider the following from an AP article that appeared on many news outlets recently: Labor costs in China are increasing 15% per year since 2008.  Workers are demanding better wages and working conditions due to a labor contract law that made them more aware of their rights Tax preferences for Read more [...]