January 16, 2020
For Immediate Release
Passage of New NAFTA Promises Lasting Economic Benefits to the Region
T
oday’s announcement of the Senate’s passage of the United States-Mexico-Canada Agreement (USMCA) will have long-lasting economic benefits to our region and provides much needed stability to our farmers, manufacturers, businesses, and workers. The USMCA strengthens one of the strongest and most prosperous trade relationships in the world, between the U.S. and Canada. Each year, $714.1 billion (USD) of trade passes between the U.S. and Canada, amounting to almost $2 billion every single day, and $22.6 billion crosses the borders of just the Pacific Northwest region alone.
The agreement is the result of a long negotiation process, and we applaud the bi-partisan and multi-country effort of all those involved in getting to this agreement. The positive impacts of USMCA will be seen both now and for generations to come and will set the standard for all future trade agreements.
“Congress worked together to get to ‘yes’ on this major legislation that benefits all of our communities and the entire continent,” said Montana State Senator Mike Cuffe, President of PNWER. “This modernized deal brings much-needed market certainty, and we are happy to finally get this on the President’s desk.”
USMCA is an opportunity for North America to form a united front, enhancing our competitiveness on a global scale. The new trade deal strengthens our businesses, the relationship between the United States, Canada, and Mexico, and our North American economy as a whole.
PNWER leadership now strongly urges Canadian Parliament to ratify USMCA as soon as possible.
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ABOUT PNWER
The Pacific NorthWest Economic Region (PNWER) is a public/private non-profit organization created by statute in 1991. Member jurisdictions include Alaska, Idaho, Oregon, Montana and Washington, and the Canadian provinces and territories of British Columbia, Alberta, Saskatchewan, the Northwest Territories and Yukon. PNWER's mission is to increase the economic well-being and quality of life for all citizens of the region; identify and promote "models of success; and serve as a conduit to exchange information.
