Did you know U.S. trade with Canada and Mexico supports 12 million American jobs? In fact, a whopping 49 U.S. states count Canada and Mexico as one of their top three merchandise export markets.
Six reasons why USMCA is good for American businesses, families, and consumers
1- Supports Millions of Jobs
Trade with Canada and Mexico supports 12 million American jobs and 49 U.S. states count Mexico or Canada as one of their top three merchandise export markets.
2- Drives Export Growth
U.S. exports to Canada and Mexico have increased more than U.S. exports to any other country since the 2007 recession. In fact, Canada and Mexico account for 40% of the growth in overall U.S. goods exports and trade with the two countries reached nearly $1.4 trillion in 2018.
3- Vital for U.S. Manufacturers
U.S.-manufactured goods exports to Canada and Mexico supports more than 2 million American jobs. Most U.S. manufacturing sectors and most states count Canada or Mexico as their first or second largest foreign purchasers.
4- Essential for Farmers & Ranchers
U.S. agricultural exports to Canada and Mexico quadrupled from $8.9 billion in 1993 to $39 billion in 2017, according to the American Farm Bureau Federation. Nearly one third of U.S. agricultural exports went to Canada and Mexico.
5- Boosts American Small Businesses
Canada and Mexico are the top two export destinations for U.S. small and medium-sized enterprises, more than 120,000 of which sell their goods and services to our North American neighbors.
6- Powers the Service Economy
U.S. services exports to Canada and Mexico tripled from $27 billion in 1993 to $96 billion in 2018. America’s highly competitive business services sector – including firms in fields like audiovisual, software, architecture, accounting, engineering and project management, banking, insurance, and many more – continues to enjoy exceptional export growth.
Key ways that USMCA modernizes North American trade
Grows Digital Trade
USMCA creates best-in-class rules to foster U.S. growth in the digital economy for firms of all sectors and sizes. It guarantees the freedom to move data across borders and prohibits the forced localization of data, thereby ensuring continued growth.
Protects Intellectual Property
It secures stronger protections for the full range of patents, copyrights and related rights, trademarks, designs, and trade secrets. It also includes strong enforcement tools to guard against counterfeiting and piracy - promoting continued U.S. innovation that supports and creates well-paying jobs.
Strengthens Agriculture Trade
In addition to securing outstanding market access, USMCA establishes modern, science-based sanitary and phytosanitary standards that are the strongest achieved in any trade agreement. It provides transparency and information sharing on measures impacting trade in the products of biotechnology.