Association of Equipment Manufacturers (AEM) has hailed the United States-Mexico-Canada Agreement (USMCA) that entered into force this week. This replaces the controversial NAFTA trade pact and promises to open trade markets and rejuvenate the economy. The International Trade Commission reported that the implantation of the USMCA could add up to $68 billion to the U.S. economy and create 176,000 jobs.
AEM president Dennis Slater issued the following statement :
“The USMCA entering into force today is great news for equipment manufacturers and our industry’s 2.8 million men and women working across the United States and Canada,” said Dennis Slater, president of AEM. “This marks the start of a new chapter for North American trade. USMCA expands agricultural market access, establishes rules for e-commerce, strengthens labor and environmental protections, and updates customs rules that will cut red tape and make it easier for U.S. manufacturers to sell to their Canadian and Mexican customers. We applaud President Trump, Vice President Pence, Senate Majority Leader McConnell, and House Speaker Pelosi to get this agreement to the finish line.”
AEM was an ardent supporter of the USMCA since it was first proposed. The association actively advocated for our industry’s priorities with U.S. and Canadian government stakeholders, participated in the USMCA Coalition, co-hosted the Honourable Mike Pence, vice president of the United States, at an equipment manufacturing facility in August 2019 to raise public support for the agreement, supported the work by Chairman Neal (D-Mass.) and the nine members of the House Democrats’ Trade Working Group, and ran an ongoing public education campaign on the various benefits of a ratified USMCA.