President Obama gets it. A strong manufacturing sector is the bedrock of the nation's economy. It is a theme he has focused on from his earliest days of campaigning in 2007. Nearly two years since the election of 2008, the President and an occasionally cooperative Congress are delivering another much needed boost to our beleaguered manufacturing sector.
By signing the Manufacturing Enhancement Act of 2010, the President continues to deliver on a major campaign promise, re-building American Manufacturing, with a renewed focus on a national industrial policy. After over three decades of bi-partisan neglect under Reagan, BushI, Clinton and BushII; Obama is finally digging in and saying No More! This little Act is focused on the tedious nuts and bolts of trade tariffs. By tipping the tariff scales in our nation's favor; key raw materials, fabricated parts and sub-assemblies that are imported by American Manufacturers will see tariff reductions, thus reducing their cost of goods - supporting better pricing and profits. To offset the tariff reductions, (to meet PAYGO Act compliance) there will be increased tariffs on other raw materials and products that unfairly compete against American products.
Having a President on our side, after 30 plus years, what a delight! For the hard-working folks in Manufacturing, it is some darn good news.
The 183,000 new hires in 2010 in Manufacturing are delighted.
" ... don’t bet against the American worker or lose faith in American industry. This is a nation that has always been proud of what it builds, and it is that spirit that’s going to lead our recovery forward.
We’ve been through tough times before, and it is precisely in those times that we rebuilt, we retooled, we recaptured the ingenuity and resilience that makes this nation so great. That’s how our predecessors built the first American century. That’s how we’ll build the next."
Remarks by the President at the Signing of the Manufacturing Enhancement Act of 2010. August 11, 2010