AEM President Dennis Slater submitted testimony to Congress yesterday for a hearing on “Stimulating the Economy Through Trade.
Slater presented to the House Committee on Energy and Commerce’s Subcommittee on Commerce, Trade and Consumer Protectionwhat he said is the importance of global trade to the off-road equipment manufacturing industry.
Slater noted that international trade is a critical asset to American manufacturers, particularly during the current economic crisis and pointed out that “it is especially important to promote participation in the global economy instead of turning back to a protectionist strategy. Protectionism will stifle economic growth globally and prolong a down-sloping economy.”
Here is his testimony:
The U.S. Economy and Trade
International trade is a critical asset to American manufacturers, particularly during these difficult economic times. Opportunities in foreign markets have enabled our member manufacturers to prosper and maintain growth in recent years. During this current economic crisis it is especially important to promote participation in the global economy instead of turning back to a protectionist strategy. Protectionism will stifle economic growth globally and prolong a down-sloping economy.
