Industry favors US trade relations with Russia

Published: December 7, 2012 6:00 am ET

Related to this story

Topics Public Policy, Materials, Suppliers

WASHINGTON (Dec. 7, 12:05 p.m. ET) — Resin suppliers and plastics trade groups are urging President Obama to sign legislation that would establish permanent normal trade relations with Russia.

“Without this legislation, our global competitors would be the only beneficiaries of Russia’s WTO [World Trade Organization] accession and U.S. manufacturing would miss out on a much needed boost to job creation and economic growth that a level playing field in the world’s 9th largest economy will bring,” said Bill Carteaux, president and CEO of the Washington-based Society of the Plastics Industry Inc., in a written statement.

The U.S. Senate voted 92-4 to pass the Russia and Moldova Jackson-Vanik Repeal Act of 2012.

Carteaux pointed to data from the President’s Export Council, which estimates that U.S. exports of goods and services to Russia —which were more than $11 billion in 2011 — could double or triple with the approval of normal trade relations.

“Our SPI advocacy team worked many hours in an effort to convince Congress to open up market access for American manufacturing companies by passing this bill,” he said.

Companies that publicly called for approval of the bill include Dow Chemical Co. and DuPont Co.


Comments

Industry favors US trade relations with Russia

Published: December 7, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

China's plastics industry making a shift

January 27, 2015 3:41 pm ET

China's plastic industry is in the midst of a “profound adjustment” from large-scale and high-speed growth to growth focused on quality,...    More

Image

Citadel opens second compounding facility in China, near Shanghai

January 27, 2015 3:22 pm ET

Citadel Plastics Inc., the American manufacturer of thermoplastic and engineered composite compounds, has opened its second facility in China,...    More

Image

Sales, profit fall at DuPont

January 27, 2015 3:13 pm ET

Materials giant DuPont Co. will use almost all of the proceeds from an upcoming spinoff — one that includes its fluoropolymer and titanium...    More

Image

A. Schulman, Citadel continue buying blitz

January 27, 2015 11:32 am ET

A. Schulman Inc. and Citadel Plastics Inc. — two deal-happy materials firms — were at it again in the second half of 2014.    More

Image

It's becoming a seller's market for plastics firms

January 27, 2015 11:37 am ET

The pace of plastics mergers and acquisitions activity slowed a bit in the second half of 2014 — but market watchers have high expectations for ...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events