Cotton growers are optimistic about some of the details in the recently signed U.S.-Mexico-Canada Agreement (USMCA), which should provide benefits for the U.S. textile industry. Following approval from Congress, President Donald Trump signed the USMCA last week, with many commodity groups looking forward to its implementation.
“President Trump noted that the USMCA includes important protections and updated rules of origin that are important to the U.S. textile industry and indicated that it should help boost the textile industry here in the United States because of these key protections that were added,” said Vice President of Washington Operations for the National Cotton Council, Reece Langley. “National Cotton Council is very appreciative of the work that this administration has done to update NAFTA and include these improvements for our industry.”
As the cotton industry looks forward to the benefits provided by the updated trade agreement, the Canadian Parliament will still need to officially approve USMCA before it can be implemented. “It has already been approved by the government in Mexico. So, this free trade agreement or updated trade agreement is getting that much closer to implementation,” Langley noted.
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