National Association of Manufacturers CEO Jay Timmons unpacks growing calls from lawmakers and business leaders to 'decouple' the U.S. economy from China.
National Association of Manufacturers President and CEO Jay Timmons discusses calls for the U.S. to ‘decouple’ business and economic activity from China., U.S. manufacturers outlined a way for American businesses to "mitigate" damages from the communist country.
"China cheats, and it has been a very, very difficult relationship, but one that you point out is economically important not only for the United States but also for the world," he said. "The world [is] dividing between kind of capitalistic, free market economies and command and control, dictatorial economies. And it's a different style. It's a different system," he said. "And it's one that, frankly, if we're going to be supporting systems around the world, we want to support those systems that understand and embrace our democratic values, embrace free market capitalism or at least some form of that.
Aric Newhouse, the senior vice president for policy and government relations at NAM, sent a letter to the House lawmakers on the select committee urging them to work with the trade group to "develop concrete policy solutions for the U.S. to strengthen our security, bolster our economy and protect American innovation."
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