Energy

Washington, D.C. – Following recent developments in Venezuela, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“The National Association of Manufacturers has long monitored developments in Venezuela because of the profound impact that political instability, authoritarian governance and the erosion of the rule of law have had on manufacturers in the United States and broader U.S. and hemispheric economic interests.

“For years, the Maduro regime—and the Chávez regime before it—has dismantled democratic institutions, violated fundamental rights and undermined legal protections for investment. Manufacturers in the United States have been directly harmed through the expropriation and nationalization of U.S. assets without due process, driving away investment and destroying economic opportunity for the people of Venezuela.

“Manufacturers believe that respect for the rule of law, private property and democratic governance is essential to restoring stability and economic growth in Venezuela. A democratic path forward is critical to achieving that outcome.

“At this pivotal moment, we urge Congress to engage with the Administration on how recent events can serve as a catalyst for a constitutional, democratic transition that restores the rights of the Venezuelan people, respects lawful American investments and lays the foundation for renewed economic opportunity in Venezuela and throughout the Western Hemisphere.”

-NAM- 

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 

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