NTMA, PMA Praise Currency Legislation
The National Tooling & Machining Association (NTMA) and the Precision Metalforming Association (PMA) praised the Senate’s passage of the Currency Exchange Rate Oversight Act, a bill designed to address currency manipulation by U.S. trade partners including China. “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,” the organizations said through a joint statement. “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.” The joint statement was issued through “One Voice,” a collaborative effort through which the two organizations combine their federal government advocacy programs.