USMCA would boost the economy, ITC says
The U.S. International Trade Commission has found that the U.S. Mexico Canada Agreement would have a positive impact on the U.S. economy if it was fully implemented and enforced.
The commission says provisions that reduce uncertainty about digital trade and some new rules of origin in the automotive sector would have the biggest impact on the U.S. economy.
The evaluation, which is a required step before Congress can consider ratifying the agreement, was welcomed by many ag groups.
U.S. Dairy Export Council President and CEO Tom Vilsack says the study is important because it moves the USMCA process closer to ratification. He says without a trade agreement with Mexico, the dairy industry would be hard pressed to maintain and expand sales.
The National Pork Producers Council supports the ratification of the USMCA. NPPC Vice President and Counsel Nick Giordano says the agreement represents more than 30 percent of total U.S. pork exports.
National Corn Growers Association President Lynn Chrisp says the report doesn’t fully capture the economic benefits of trade with Canada and Mexico. He says the USMCA secures and builds upon a critical partnership, which is why ratifying the agreement is so important for agriculture.
Farmers for Free Trade, a bipartisan coalition supported by several U.S. commodity groups, says the USMCA delivers stability to farmers. The group is currently on an 11-state trip across the Midwest talking with farmers about the importance of the USMCA.