President Trump Initiates a New Chapter in Trade Policy by Signing into Law the United States-Mexico-Canada Agreement

Today,(1/29/2020) the President of the United States signed into law the United States-Mexico-Canada Agreement (USMCA), initiating a new chapter in U.S. trade policy.  Mexico and the United States have now passed the USMCA, and we look forward to the Canadian Parliament’s consideration of this agreement.  The passage of the USMCA is a historic achievement.  It is the gold standard of trade agreements.  The USMCA modernizes and updates our trade relations and will promote prosperity and strengthen North American competitiveness

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The USMCA is the largest, most significant, modern, and balanced trade agreement in history. All of our countries will benefit greatly.

President Donald J. Trump

DELIVERING ON HIS PROMISE: President Donald J. Trump is replacing the outdated North American Free Trade Agreement (NAFTA) with the United States-Mexico-Canada Agreement (USMCA).

• Today, President Trump is signing his historic USMCA deal, making good on his promise to deliver fairer and more reciprocal trade for the American people.
• USMCA will replace the terrible NAFTA agreement that resulted in the loss of millions of American jobs and devastated communities across our county.
• The deal marks a tremendous victory for American workers, farmers, manufacturers, and businesses alike.

STANDING UP FOR AMERICAN WORKERS: USMCA will deliver more jobs and better labor protections that benefit American workers, while fostering more growth for American businesses.

• While NAFTA was a disaster for American workers, USMCA will deliver new jobs and better protections for hardworking Americans across the country.
• USMCA has the potential to create nearly 600,000 jobs and generate up to $235 billion in economic activity.
• This deal includes the strongest, most advanced, and most comprehensive labor chapter of any American trade agreement in history.
• Workers in all sectors of the economy are expected to benefit from this landmark agreement.
• USMCA is the first United States trade agreement to ever include a chapter supporting small and medium sized businesses.

SUPPORTING AMERICAN FARMERS: USMCA includes tremendous breakthroughs for American agriculture.

• USMCA is a monumental win for American farmers and ranchers, improving access to Canadian and Mexican markets to export their goods.
• As a result of President Trump’s efforts to secure a better deal for our farmers, American agricultural exports are expected to increase by $2.2 billion under USMCA.
• Under the agreement, Canada has agreed to expand market access for American dairy, egg, and poultry producers.
  • The agreement is expected to grow annual dairy exports by nearly $315 million.
• American wheat growers will have access to a more level playing field.
  • Thanks to this deal, Canada will finally give fair treatment to American-grown wheat.

DRIVING NEW GROWTH FOR THE AUTO INDUSTRY: USMCA will provide a massive boost to American manufacturers, particularly our vital auto industry.

• USMCA will achieve fairer, more reciprocal trade that supports high-paying American manufacturing jobs and grows the economy.
• USMCA includes innovative provisions to incentivize new investments in the American auto industry and support high-paying jobs for American auto workers.
  • New wage and rules of origin requirements included in the agreement will put American autoworkers on a level playing field with workers from other countries.
• USMCA is expected to create up to 76,000 new auto jobs, spur $34 billion in new investment in the auto industry, and add $23 billion in auto parts purchases annually.

MODERNIZING REGIONAL TRADE: USMCA will bring our trade relationship with Canada and Mexico into the 21st century.

• USMCA is a modern trade deal that will completely transform our trade relationship with Canada and Mexico and end the outdated NAFTA.
• USMCA contains new protections for American intellectual property, ensuring strong, effective protection for American innovators and creators.
• Included in USMCA is a first-of-its-kind chapter on digital trade, which the decades-old NAFTA was never updated to address.
  • The digital trade provisions included in this agreement will foster economic growth and innovation for years to come.
• USMCA includes first-of-its-kind provisions to prohibit unfair currency practices and reinforce exchange rate stability.
• The agreement includes the strongest environmental standards of any trade agreement in our history.
  • These standards are fully enforceable and will help prevent companies from moving out of the United States—and taking jobs with them—to avoid environmental rules.