From the outset of President Trump stating his goal to tear down and rebuild the antiquated NAFTA trade agreement, NMBC has been New Mexico’s most vocal and leading proponent for the improved replacement – the USMCA trade agreement. NMBC has been engaged with the formulation and passing of the USMCA at all stages, from it’s initial planning phase all the way to being invited to the white house to see it signed by the president.
NMBC joined forces with more than 350 industry groups, and 600 other business and agricultural organizations to advocate for this critical restructuring that will reshape the trade practices across the continent. We’re thrilled to announce that as of July 1st, more than a year of diligent work and cooperation has paid off and the new USMCA is now in full effect. The USMCA’s importance to New Mexican manufacturing, trade and intellectual property protection is massive:
- The jobs of more than two million American manufacturing workers depend on exports to Canada and Mexico, including 27,133 workers in New Mexico.
- New Mexican manufacturers sold $1.5 billion in manufactured goods to Canada and Mexico in 2018, and one out of every eight manufacturers in New Mexico export to Canada and Mexico.
- USMCA Strengthens and modernizes America’s innovation engine by including best-in-class intellectual property rules while setting new standards for the 21st-century digital economy.
NMBC is proud to have been on the front lines leading the charge to implement this groundbreaking trade agreement and see it written into law. For more infomration on the USMCA and what to expect from its implementation, read more HERE.