Standing alone, it is::
Standing alone, it is: The world’s 8th largest economy
Larger than the economies of:
-Spain -Canada -South Korea and Mexico combined
Slide3:
Manufacturing is responsible for nearly two-thirds (62%) of all U.S. exports of goods and services.
Manufacturing is responsible for three fifths of all industrial R andamp; D
Manufacturing is responsible for 90% of all patents. -Agriculture: $60billion/yearly -Manufacturing: $60billion/monthly
Slide4:
Manufacturing employs 14 million people
1. Reduce the costs of doing business in the US:
1. Reduce the costs of doing business in the US NAM Study:
22% cost disadvantages vs. trading partners Taxes Health Care (1/6 of GDP) Regulations:
--$180 billion cost of regulation
--$32 billion workplace
--Highest environmental costs
Legal Costs (2% of GDP):
Legal Costs (2% of GDP) Larger than the economies of:
Hong Kong Hungary
Vietnam Venezuela
Portugal Peru
Algeria Israel
Romania Ireland
Czech Republic Morocco
Denmark Nigeria
Chile Kazakhstan
Norway Singapore
Finland Belarus
……..and 173 others
2. A level playing field with all trading partners:
2. A level playing field with all trading partners Vis a vis China, this means:
-No currency manipulation -Respect for intellectual property -No illegal subsidies -Compliance with all WTO rules