"One Voice" congratulates Senate on currency legislation.
Press Release Summary:
Under banner of "One Voice," National Tooling and Machining Association and PMA issued statement on Senate's passage of Currency Exchange Rate Oversight Act of 2011, a bill designed to address currency manipulation by U.S. trading partners, including China. According to NTMA and PMA, currency manipulation negatively impacts ability of U.S. businesses - and small manufacturers in particular - to compete in global marketplace. Bill is one step toward addressing this long-standing problem.
Original Press Release:
One Voice Congratulates Senate on Passage of Currency Legislation
Washington, DC - Cleveland, OH - The National Tooling & Machining Association (NTMA) and the Precision Metalforming Association (PMA) issued the following statement on the Senate's passage of the Currency Exchange Rate Oversight Act of 2011, a bill designed to address currency manipulation by U.S. trading partners including China:
"We congratulate the Senate for passing this important bill and thank Sen. Sherrod Brown (D-OH), Sen. Chuck Schumer (D-NY), Sen. Lindsey Graham (R-SC), Sen. Olympia Snowe (R-ME), Sen. Debbie Stabenow (D-MI), Sen. Jeff Sessions (R-AL), Sen. Robert Casey (D-PA), and Sen. Richard Burr (R-NC) for their efforts in support of this legislation. U.S. manufacturers can compete with anyone if provided a level playing field; however, currency manipulation negatively impacts the ability of U.S. businesses - and small manufacturers in particular - to compete in the global marketplace. This bill is one step toward addressing this long-standing problem and we urge the House of Representatives to pass this legislation as quickly as possible."
About One Voice:
Under the banner of "One Voice," the Precision Metalforming Association (PMA) and the National Tooling and Machining Association (NTMA) combine their federal government advocacy programs to promote U.S. government policies that will ensure a strong manufacturing sector in the United States
About NTMA:
NTMA is the national association representing the precision custom manufacturing industry, which employs more than 440,000 skilled workers in the United States. Its mission is to help members of the U.S. precision custom manufacturing industry achieve business success in a global economy through advocacy, advice, networking, information, programs and services. Many NTMA members are privately owned small businesses, yet the industry generates sales in excess of $40 billion a year. NTMA's nearly 1,300 member companies design and manufacture special tools, dies, jigs, fixtures, gages, special machines and precision-machined parts. Some firms specialize in experimental research and development work.
About PMA:
PMA is the full-service trade association representing the $113-billion metalforming industry of North America-the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its nearly 1,000 member companies also include suppliers of equipment, materials and services to the industry. PMA leads innovative member companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, FABTECH and METALFORM tradeshows, and MetalForming magazine.
Visit www.metalworkingadvocate.org for additional information on PMA and NTMA.
