NAM APPOINTS CHINA BUSINESS TASK FORCE

Manufacturing News, Source : The Manufacturer US
Published : 30 Oct 2006 20:51

WASHINGTON, D.C., October 27, 2006 – National Association of Manufacturers President John Engler today announced the appointment of a U.S.–China Business Relations Task Force to work directly with the Treasury Department and Treasury Secretary Hank Paulson as he prepares for face-to-face meetings with Chinese leaders on a wide array of trade issues, including currency.

The task force will meet with Secretary Paulson to provide manufacturers’ views on:

· The need for significant appreciation of the undervalued Chinese currency

· Protection of intellectual property

· Subsidization of Chinese production through the banking system and other mechanisms

· Policies that favor Chinese domestic companies over foreign firms including tax and investment policies and standards and regulatory barriers

· The need for China to encourage domestic growth and increase its imports of U.S. products

· Areas of engagement that can be beneficial to both China and the United States such as energy security and environmental cooperation.

In an address to the NAM Board September 28, Secretary Paulson told manufacturers that he has a mandate from President Bush to deal with the Chinese currency problem, and that he is committed to that goal.

“There are some who advocate legislation to deal with the China currency problem, but that would be counter-productive,” Engler said. “Congress cannot legislate policy in China. Secretary Paulson has established a new high level Strategic Economic Dialogue to deal with economic and trade issues of mutual interest to China and the United States and has asked us to work with him.

Even Senators Charles Schumer (D-NY) and Lindsey Graham (R-SC), who have backed punitive legislation, withdrew their bill agreeing that Secretary Paulson’s approach should be given a chance.”

NAM Board members who will serve on the Task Force with Governor Engler are:

Mary Andringa, President and CEO, Vermeer Manufacturing Company;

Jay Bender, President, Falcon Plastics, Inc.;

Michael E. Campbell, Chairman, President and Chief Executive Officer of Arch Chemicals, Inc.;

(will serve as Task Force Chairman)

R. Keith Harrison, Global Product Supply Officer, The Procter & Gamble Company;

F. Joseph Loughrey, President and Chief Operating Officer, Cummins, Inc.;

Al T. Lubrano, President, Technical Materials, Inc.;

Douglas R. Oberhelman, Group President, Caterpillar, Inc.;

K. Scott Portnoy, Corporate Vice President, Cargill, Inc.;

Anthony F. (Tony) Raimondo, Chairman, Behlen Manufacturing Company;

Wallace E. (Wes) Smith, President, E&E Manufacturing Company, Inc.;

John P. Surma, Chairman, President and Chief Executive Officer, United States Steel Corporation;

William G. Walter, Chairman, President, and Chief Executive Officer, FMC Corporation;

Richard L Wilkey, Chief Executive Officer, Fisher-Barton, Inc..

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