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President Trump officially signs USMCA agreement

By Michele Schueler on Feb 07, 2020 at 05:43 PM in Industry News

President Trump has signed into law the U.S. Mexico-Canada trade agreement.

The new deal replaces the North American Free Trade Agreement, which Trump railed against during the 2016 campaign.

The plan enshrines new auto manufacturing requirements and tougher labor protections, but it largely leaves the trillions of dollars in trade flow between the three countries unchanged.

Drew Angerer/Getty Images

At the signing on the White House south lawn Wednesday, the President touted the new deal as quote “the largest, fairest, most balanced and modern trade agreement ever achieved.”

He called it a “colossal victory for our farmers, ranchers, energy workers, factory workers and american workers in all 50 states”, and gave shout outs to a long list of Republican senators in attendance.

No democrats were invited to the signing, even though it was a largely bipartisan vote in December.

Mexico has ratified the agreement, but canada must still sign off before it takes full effect.

Texas Ag commissioner released a statement after the passing, saying:

“Time to buy a bigger tractor, because the USMCA is going to be great for agriculture. More trade, fairer trade and bigger markets are all music to the ears of ag producers here in Texas and around the country. When Texas farmers and ranchers win here at home, America wins around the world. Thanks again to President Donald Trump, Secretary Perdue and Ambassador Lighthizer who have worked tirelessly knowing American workers, farmers, ranchers and their families depended on this new trade agreement. I applaud their devotion to the USMCA and congratulate them on this significant accomplishment. Mr. President, you said there’d be so much winning we’d get tired of winning- folks in Texas aren’t tired yet. Keep the victories coming for American agriculture.”

Texas Senator Ted Cruz also released a statement, saying:

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“As a fierce competitor on the international stage, no state in the union has more invested in trade with our neighbors than Texas. This trade agreement puts American jobs first, including the 2.2 million jobs in Texas directly dependent on international trade. By increasing access to the Canadian market for American wheat, dairy, poultry, and egg products and maintaining tariff-free access for agricultural products, the USMCA is a win for Texas farmers, ranchers, manufacturers, and small businesses. While I am proud to have voted to pass USMCA, I am disappointed the deal includes special protections for Big Tech, much like the controversial Section 230 of the Communications Decency Act. As we advance more policies that grow our economy, I will also continue working with President Trump, the administration, and my colleagues in the Senate to ensure our trade agreements benefit Texas farmers, ranchers, manufacturers, and small businesses.”

The Texas Farm Bureau also released a statement following the passing:

“Today’s signature by President Trump of legislation authorizing the United States-Mexico-Canada Agreement (USMCA) is cause for celebration. USMCA represents a tremendous opportunity for Texas farmers and ranchers to increase sales to customers in two very important foreign markets and to take another important step toward the economic recovery of Texas agriculture. We look forward to the Canadian parliament’s approval of the agreement so that it can go into full effect. USMCA is a strong, modern agreement that provides a framework for other agricultural trade deals. The prior North American Free Trade Agreement (NAFTA) was beneficial to Texas farmers and ranchers and to our overall Texas economy. USMCA not only protects agriculture’s gains from NAFTA, the new agreement is expected to significantly increase U.S. agricultural exports to Canada and Mexico. Those trade opportunities could not come at a better time for Texas agriculture.

Source: https://www.easttexasmatters.com/news/president-trump-officially-signs-usmca-agreement/







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