WASHINGTON – Today the Senate passed the United States–Mexico–Canada Agreement (USMCA) sending the trade deal to President Trump’s desk. Heritage President Kay C. James released the following statement:
Passing the USMCA into law puts American families, businesses, workers, and farmers first by reducing prices on goods, increasing exports to our neighbors and the world, and creating more and higher paying jobs as a result of all the increased economic activity.
The USMCA continues NAFTA’s tariff-free treatment of many goods and services but also opens up new markets for American farmers to sell their goods. The USMCA promotes the development of more new and innovative products by strengthening protections for intellectual property rights. The USMCA’s passage allows American manufacturers and investors to move forward with business expansions – plans they had been holding back on while waiting to see if the USMCA would pass.
Plain and simple, the USMCA represents an opportunity for even greater economic growth for America.