Today, The Heritage Foundation published its comprehensive assessment of the United States-Mexico-Canada Agreement in anticipation of the agreement’s forthcoming implementing legislation. James Carafano, vice president of the Davis Institute for Foreign Policy and National Security, and Jack Spencer, vice president of the Institute for Economic Freedom, released the following remarks:
“The USMCA affirms America’s commitment to the innovations and modernizations that make businesses competitive, create jobs and offer more consumer choice. America should be the leader in preserving North America’s place as a top region for trade.
“For over 25 years, NAFTA established tariff-free treatment for scores of goods and services and the USMCA continues many of these existing protections. The agreement also brings much needed modernizations for the 21st century.
“The benefits of free trade found in the USMCA must not be undermined in the implementing legislation. Of key concern are the chapters regarding labor and the environment. A worsening of these aspects in the USMCA would be unacceptable. As the legislation is being finalized by the administration, we would like to see the U.S. strengthen its commitment to free trade.”
The full assessment is available here: https://www.heritage.org/trade/report/analysis-the-united-states-mexico-canada-agreement