American Chemistry Council (ACC) President and CEO Chris Jahn issued the following statement ahead of the Senate Finance and House Ways and Means Committee hearings on President Biden’s 2021 Trade Policy Agenda:
“As ACC wrote in a May 11 letter to Ambassador Tai, the U.S. chemical industry fully supports President Biden’s vision for a trade policy that benefits all Americans. The U.S. chemicals industry is uniquely prepared to supply the innovations needed to help fight climate change, and the new capital investment and exports to support job growth around the country. This week’s trade hearings must begin the process of turning words into action – and inviting industry to demonstrate how we can help make American manufacturing ‘part of the engine of American prosperity now,’ as President Biden declared last January.
“For ACC’s part, we have published a set of trade policy priorities and five imperatives for immediate action that will help maximize the U.S. chemical industry’s ability to support the Biden 2021 Trade Policy Agenda:
- Open new markets for U.S. exports of innovative chemicals and plastics;
- Deliver much-needed tariff relief to American businesses and consumers;
- Reduce and prevent non-tariff barriers to trade through greater regulatory cooperation in key regions and markets;
- Cultivate resilient and strategically integrated global supply chains, particularly with key trading partners; and
- Modernize the World Trade Organization (WTO) and the rules-based international trading system.
“The Miscellaneous Tariff Bill (MTB) stands out as one of the most efficient and effective legislative tools at the administration’s disposal to ease burdensome tariffs on critical inputs to U.S. manufacturing processes and jumpstart economic recovery and jobs. MTB would be a shot in the arm and provide an immediate boost to U.S. manufacturing competitiveness.
“We look forward to working with Ambassador Tai and the administration to execute on their plan to create a stronger, more equitable and sustainable future for American businesses and families.”
For more information, visit: www.americanchemistry.com