The economic relationship between the United States, Mexico, and Canada is vitally important to the overall success of folks across our nation. In recent years, however, I believe that this relationship was not an equal give-and-take between all three partners but instead the United States was contributing more than our two neighbors. In an attempt to right this wrong, President Trump has negotiated the United States-Mexico-Canada Trade Agreement (USMCA).
The USMCA is a critical piece of economic policy – specifically affecting American workers. According to the US Chamber of Commerce, twelve million American jobs rely on trade with Mexico and Canada. Mexico and Canada together represent a $500 billion export market for the U.S. as they buy one-third of the goods America exports, plus tens of billions of dollars more in services. The U.S. trade representative reported that the USMCA’s automotive provisions would yield more than $30 billion in new investments over five years and billions more in purchases of U.S. auto parts every year. All in all, the International Trade Commission predicts the USMCA would create around $68 billion in wealth and 176,000 jobs for America.
Ratifying the USMCA is especially critical to the First District and entire Commonwealth; over 13,000 jobs in Virginia depend on manufacturing exports to Canada and Mexico. Accounting for nearly a quarter of all exports from Virginia, trade with our northern and southern partners is necessary for continued job creation and growth here at home. By increasing duty-free access of the world-class agricultural products we create in the Commonwealth and improving outdated policies, the USMCA improves the financial position of all Virginians. In fact, the Farm Bureau has
said, “We need Congress to pass the USMCA trade agreement to bring certainty to our already-positive trade relationship with our closest neighbors and build on that relationship with new opportunities and commitments.”
This week, I had the opportunity to meet with Virginia Secretary of Agriculture and Forestry, Bettina Ring, to discuss the many ways we are working at both the federal and state level to support the farmers and producers of the Commonwealth as they make our everyday lives possible. One of the primary issues we discussed was the USMCA as this is one of the top issues on the minds of producers throughout the Commonwealth.
The USMCA would not only create new jobs and expand export markets, but it would help keep North America united while we negotiate with China. Mexico has already ratified the agreement and Canada is waiting for the United States to act. The Senate has indicated it is willing to ratify this trade agreement but there is a hold up on the House side. Although there is wide bipartisan support for this deal, in recent weeks, I’m worried that House Democrats have been more focused on proceeding with an ultra-partisan impeachment process.
The time for Congress to pass the USMCA is now, and I will continue to urge Democratic Leadership in Washington to bring this measure to a vote so we can do what is right for the American people.
