Washington, DC—July 1, 2020….Congressman Steve Womack (AR-3) released the following statement on the United States-Mexico-Canada Agreement’s (USMCA) entry into force today. This critical trade deal, which Womack continually advocated for and voted to pass last year, modernizes U.S. trade policies with Canada and Mexico – two of Arkansas’s top trading partners. The agreement provides a strong framework that will support economic growth, enhance market access, create jobs, and unleash new sources of opportunity:
“The USMCA’s entry into force marks a new chapter of opportunity for Arkansas and America. This long-term investment ushers in a 21st century trade framework that will expand market access and support the Natural State’s hardworking farmers, ranchers, manufacturers, and workers. By rebalancing trade with critical partners, we will deliver more jobs and greater prosperity across the nation. This will be especially important as we work to restore the economy following the coronavirus. I’m proud to have been a part of advancing this deal and look forward to Americans reaping the benefits of a more level playing field.”
Among key wins in this trade deal, the USMCA will:
- Increase market access for Arkansas products in Mexico and Canada;
- Give Arkansas poultry producers new export access to Canada for chicken and eggs;
- Expand the ability of Arkansas producers to sell turkey abroad;
- Support more than 120,000 jobs in the Natural State;
- Assist American innovators by creating a new chapter dedicated to digital trade;
- Create hundreds of thousands of jobs nationwide; and
- Bolster American auto production and automotive jobs.
Trade is vitally important to Arkansas, with Canada and Mexico accounting for one-third of our state’s exports. A recent report from the World Trade Center Arkansas found that, in 2018, exports to Canada amounted to $1.2 billion and exports to Mexico totaled $870 million.