Six years after entering into force, USMCA continues to deliver for America
Today, Business Roundtable CEO Joshua Bolten issued the following statement marking the sixth anniversary of the United States-Mexico-Canada Agreement (USMCA) entering into force:
“Over the past six years, USMCA has delivered significant economic benefits for the United States. North American trade supports more than 13 million American jobs, and Canada and Mexico are the top export markets for U.S. manufactured goods and agricultural products. All three economies have grown since USMCA entered into force, but the United States has grown the most.
“As the agreement reaches this important milestone, the three governments can better align policies against unfair trading practices, reduce regulatory and economic friction within the region and ensure North America is better positioned to compete with non-market economies. Business Roundtable urges the Administration to work expeditiously with Canada and Mexico to strengthen and extend USMCA.”
Here are six reasons to extend and strengthen USMCA
Jobs and economic growth
U.S. trade with Canada and Mexico supports more than 13 million American jobs, including in every state and congressional district. All three economies have grown since USMCA entered into force, but the United States has grown the most.
Reliable supply chains
USMCA set clearer rules for trade, helping goods move more predictably and ensuring American families have reliable access to groceries and other household essentials.
Food security
USMCA opened key markets for American farmers and ranchers while securing essential supply chains at home.
Energy security
USMCA strengthened access to reliable North American energy, reducing U.S. reliance on volatile global markets.
Investment in the U.S.
Canada and Mexico have invested hundreds of billions of dollars in the United States — significantly more than before USMCA.
Manufacturing competitiveness
USMCA strengthened North America’s ability to compete globally by fostering deeper integration across manufacturing, technology and other key industries — with U.S. manufacturing exports to Mexico and Canada surging to more than our next 12 trading partners combined.
Click here to learn more about how trade with Canada and Mexico boosts every state’s economy.
About the Business Roundtable
Business Roundtable is an association of more than 200 chief executive officers of America’s leading companies, representing every sector of the U.S. economy. Business Roundtable CEOs lead U.S.-based companies that support one in four American jobs and almost a quarter of U.S. GDP. Through CEO-led policy committees, Business Roundtable members develop and advocate directly for policies to promote a thriving U.S. economy and expanded opportunity for all Americans.
