President Trump today signed the U.S.-Mexico-Canada Agreement (USMCA), a trade deal meant to replace the North American Free Trade Agreement.
Canada and Mexico already represent the top two export markets for Midwestern food manufacturers. The agreement guarantees U.S. farmers greater access to Canada’s agriculture market and provides more certainty for manufacturers.
The leaders of the three nations signed the new pact in late 2018. Both the Senate and House passed the USMCA by wide margins with bipartisan support after several months of behind-the-scenes negotiations between Democratic lawmakers and the Trump administration.
While Mexico has already approved the USMCA, Canada’s parliament still must ratify the agreement, a process which may extend into April.
MWFPA has supported the agreement and its president, Jason Culotta, made the following statement:
“Our members thank President Trump for his action on the USMCA. Trade is vital to the Midwest economy and food manufacturers across the region have long benefited from trade with Canada and Mexico – which totaled more than $3.6 billion in 2018.
The trade pact will positively impact both the U.S. agriculture and food manufacturing sectors as well as the broader national economy.”