USMCA Trade Deal Update
Ratification of the USMCA Trade deal, the replacement for the North American Free Trade Agreement, is a priority for manufacturers across the country and especially those in New York State. The Council of Industry, along with hundreds of other business associations across the nation and the state, has signed letters of support for the USMCA encouraging Congress to approve the deal.
In New York, the Albany Times Union reports that “The Business Council of New York State is calling on the state’s congressional delegation to support the passage of the U.S.-Mexico-Canada trade deal, which would replace NAFTA upon ratification. About 800,000 jobs in New York are supported by trade with Mexico and Canada.” https://www.timesunion.com/business/article/Business-Council-of-NYS-urges-Congress-to-pass-14117259.php
Earlier this month Manufacturers from all over the nation came to Washington, D.C to express the urgent need for United States-Mexico-Canada Agreement (USMCA) passage at a series of events with key legislative decision-makers. “The Trump administration continues to show its steadfast commitment to America’s manufacturing workers,” said Emerson CEO David Farr. “Manufacturers in Missouri and across the nation are keeping our promise to grow, invest and hire. This historic agreement will help us sustain this momentum. Congress must act now and ratify this agreement.”
https://www.nam.org/manufacturers-show-up-to-push-for-swift-usmca-passage-5466/?stream=news-insights
Vote is planned for later this Fall.
CNBC is reporting that “the White House plans to send the USMCA to Congress after Sept. 1, setting up a vote by the end of the year. The White House could submit the bill to Congress as soon as this week to start the approval process. House Democrats are meeting in working groups to hammer out issues with the existing agreement.”
