The United States-Mexico-Canada Agreement (USMCA) is a trade agreement between the United States, Mexico, and Canada that successfully renegotiates the North American Free Trade Agreement (NAFTA) with significant provisions on digital trade, agriculture, environment, labor, and several other issues.
Why it Matters
The USMCA is critical to our state and nation’s economic future. Approval of the USMCA will ensure U.S. manufacturers, farmers, and service providers can continue to access the Canadian and Mexican markets. The new pact guarantees that virtually all U.S. exports will enter these markets tariff-free.
- More than 12 million jobs in the United States depend on trade with Canada and Mexico, with nearly 800,000 of those jobs located in New York State
- 1,084 Canadian-owned businesses employ nearly 79,000 New Yorkers
- S. manufacturers export more made-in-America manufactured goods to our North American neighbors than they do the next 11 largest markets combined, and the two countries account for nearly one-third of U.S. agricultural exports
- Canada and Mexico are the top two export destinations for U.S. small- and medium-sized businesses, and Canada is New York’s top export market
- New York exports $22.7B worth of goods and services to Canada and Mexico
- Producers in New York use 71% of imports from Canada and Mexico as inputs for production
The USMCA will modernize North American trade rules. When NAFTA was negotiated a quarter century ago, there was no e-commerce; consequently, the agreement did not address this sector. USMCA’s digital trade chapter creates best-in-class rules to encourage U.S. growth in the digital economy. By creating a level playing field for trade in North America, USMCA will help U.S. companies and the people they employ compete in our top two export markets.
Congress Must Act
The case for the agreement’s approval is strong. The Buffalo Niagara Partnership recently partnered with more than 600 business organizations and chambers of commerce across the country in a letter sent to Congress explaining why action is needed now to approve the USMCA.
You can join our efforts by urging your members of Congress to take action on the USMCA. With a few clicks of your mouse, the Partnership’s online advocacy tool allows you to send a pre-written message to your congressional representatives. Visit our Action Center today to urge your member of Congress to take action on the USMCA.