Houston Chronicle by Guy Caruso July 24, 2019
As the Trump administration and Democratic Congressional leadership try to resolve their differences regarding labor and enforcement provisions in the final version of the United States-Mexico-Canada Agreement (USMCA), the U.S. business community continues to voice their support for the trade deal because of the immense benefits it will have on the U.S. economy.
In the past few weeks alone, voices from across all sectors of the economy have spoken out in favor of USMCA passage. For example, more than 950 groups representing the food and agriculture industries recently sent a letter to Congress urging members to pass USMCA, as it will increase U.S. food and agricultural exports to our neighbors and generate an additional $2.2 billion in economic activity.
From the automobile sector, Matt Blunt, former Missouri governor and president of the American Automotive Policy Council recently commented on how iconic American automobile brands and manufacturing partners up and down the supply chain have thrived under our system of free and fair trade. In fact, estimates indicate that USMCA will provide an additional $683 million in revenue and potentially create 76,000 American auto manufacturing jobs over the next five years.
An equally important reason why Congress needs to pass the USMCA is to support U.S. energy security and the continued growth of American energy exports. Without the agreement, the U.S. will no longer have the assurance that Mexico and Canada will remain our top energy consumers, and we will lose market certainty. Consequently the U.S.’s thriving energy economy could be weakened.
More:
https://www.houstonchronicle.com/opinion/outlook/article/USMCA-good-for-the-U-S-good-for-the-energy-14117952.php
