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Overall Impact of USMCA and the Need for Ratification

Dan Exports/Imports, Trade


Earlier this week Vice President Mike Pence noted the importance of getting the U.S.-Mexico-Canada Agreement (USMCA) ratified as it could be the “template for all our future trade deals.”  During an address to the Detroit Economic Club Vice, President Pence said that “by passing the USMCA, it will strengthen the president’s hand in negotiations with China.”

President and CEO of the U.S. Dairy Export Council, Tom Vilsack also pointed to the substantial impact the trade agreement will have during his recent testimony to the Senate Finance Committee.  “The ratification of the USMCA matters to all of the food and agriculture industry as it will build momentum for progress hopefully in other trade discussions,” said Vilsack.

The agreement was ratified by Mexico back in June and Canada has introduced an implementation bill to go before Parliament.  American lawmakers are continuing to negotiate with the Trump administration before Congress begins the process for implementation.  Many industry groups have sent letters encouraging the passage of the trade deal, citing the ways in which it will benefit the American economy.

“Ratification of the USMCA impacts food and agriculture industry and really matters to the entire country,” Vilsack noted.   “According to Dunn and Associates, the U.S. food and agriculture industry represents – directly or indirectly – 43 million employed Americans; which is 28 percent of our entire employment workforce and impacts directly 20 percent of American economy.  So, whatever helps U.S. food and agriculture helps the country.”

Listen to the report below.

Overall Impact of USMCA and the Need for Ratification
About the Author

Brian German

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Ag News Director, AgNet West