New Mexico (October 15, 2019) — New Mexico Business Coalition and the National Association of Manufacturers were joined by more than 350 associations and businesses representing manufacturers of all sizes, today called on Congress to ratify the United States–Mexico–Canada Agreement. Leaders of the United States, Mexico and Canada approved the agreement last year to modernize the 25-year-old North American Free Trade Agreement. In a letter sent to Congress, the coalition writes:
“We write to you to urge passage of the United States–Mexico–Canada Agreement as soon as possible this autumn. . . . North America is the most significant trade market for the United States globally, with Canada and Mexico purchasing one-fifth of the total value of U.S. manufacturing output. Canada and Mexico alone, despite representing less than 4 percent of the global economy, buy more U.S.-manufactured goods than our next 11 trading partners combined. Here at home, U.S. manufacturing exports to Canada and Mexico support millions of American manufacturing jobs as well as 40,000 small and medium-sized businesses and communities across all 50 states.”
Mexico’s government has ratified the USMCA. It now awaits approval from Congress. The coalition writes that the USMCA would spur economic growth and provide much-needed certainty for manufacturers across North America through the following provisions:
- Strengthen and Modernize America’s Innovation Engine: The USMCA includes best-in-class intellectual property rules that will help protect the full range of U.S. manufacturing inventions and innovations from theft and set new standards for the 21st-century digital economy that will prohibit distortive measures that undermine American innovation.
- Expand U.S. Manufacturing Access to Canada and Mexico: The USMCA will maintain and improve duty-free market access to Canada and Mexico, eliminating red tape at the border and making it easier for small and medium-sized businesses to sell into these critical markets.
- Level the Playing Field: The USMCA will raise standards, improve transparency and prohibit both anti-U.S. discrimination and anti-competitive activity—all while providing the same binding enforcement for all obligations in the agreement.
Click HERE to view the letter and full list of signers.