Michael Stumo, CEO of CPA, was quoted an article by Nick Zieminski that appeared in Reuters/Fox Business News entitled, “Analysis: U.S. manufacturers turn to Russia, with Love”
Mr. Stumo was quoted as follows:
“We’ve had a worsening trade deficit despite (being) promised otherwise with a series of multilateral or bilateral agreements,” said Michael Stumo, CEO of the Coalition for a Prosperous America, a group pushing U.S. trade reform. Overall U.S. exports to Russia could double to about $19 billion a year if PNTR is passed, says the Business Roundtable, which argues that the U.S. is falling behind other exporters, especially European ones.
More sales for a company like Caterpillar are a good thing, Stumo said, “but that’s different than the country’s interest.”
The full article can be found here.