Tag: USMCA

USMCA Trade Deal Update

Post: Jul. 24, 2019

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.”

https://www.cnbc.com/2019/07/10/trump-white-house-likely-to-send-usmca-trade-deal-to-congress-after-sept-1.html

 

USMCA Passage is Critical for New York Manufacturers and Workers

Post: Apr. 17, 2019

From The National Association of Manufacturers (NAM)

Trade is important for New York, helping New Yorkers sell more of what they make to more customers around the world. More sales equal more well-paying jobs and a stronger economy across the state. New York’s ability to sell more American-made products to Canada and Mexico is tied directly to tariff-free and rules-based trade in North America. 

New York Without the U.S.–Mexico–Canada Trade Agreement: Less Manufacturing and Fewer Jobs
Without tariff-free trade across North America secured by a strong trade agreement, New York’s manufactured goods exports to Canada and Mexico could face a minimum of $192 million to $1.5 billion in extra taxes (compared to zero tariffs today). As a result, many of New York’s manufacturers and the workers and communities they support would lose sales as competitors from Europe and Asia continue to enjoy zero tariffs. The result would be less manufacturing production and fewer well-paying American jobs in New York and throughout the United States.

Find out more with this fact sheet from NAM.

 

North American Trade – The Importance of the USMCA

Post:

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.

View the USMCA Fact Sheet

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.

Take Action Now

Link to NAM North American Trade