North American Trade – The Importance of the USMCA
From The National Association of Manufacturers (NAM)
The North American commercial market is the most important market for manufacturers in the United States. Over one-third of U.S. manufactured exports are sold just to Canada and Mexico, which purchase more from the United States than our next 10 foreign country partners combined.
More than 25 years under the original North American Free Trade Agreement entered into force, the three countries came together to modernize this decades old agreement resulting in the United States–Mexico–Canada Agreement that was signed in November 2018. The NAM strongly supports passage of the USMCA as soon as possible this year to ensure manufacturers can grow with certainty with our most important commercial trading partners—Canada and Mexico.
Over half of manufacturing voters said in recent polls that they want their member of Congress to approve the USMCA. But manufacturers need to do more to build understanding of how the U.S.-Mexico-Canada Agreement (USMCA) strengthens the partnership we have with Mexico and Canada to modernize North American trade agreements.
