Association of Equipment Manufacturers (AEM) senior vice president of government and industry relations Kip Eideberg issued the following statement Jan. 16 on the U.S. Senate passing implementing language to ratify the United States-Mexico-Canada-Agreement (USMCA):
"Equipment manufacturers, farmers and hardworking families across the country are thankful for today's full congressional ratification of the United States-Mexico-Canada Agreement [USMCA]," said Eideberg. "This new agreement updates the current, decades-old trade deal, supporting a modernized global marketplace. As members of the USMCA Coalition, we are proud to have joined more than 600 associations and business groups in advocating for a stronger trade deal that will add up to $68 billion to our economy, create 176,000 jobs, and preserve duty-free market access to our Canadian and Mexican trading partners. We applaud President Trump, Vice President Pence, Senate Majority Leader McConnell, and House Speaker Pelosi for their efforts to negotiate and ratify the agreement."
Since the creation of NAFTA two decades ago, equipment manufacturers have benefited greatly from duty-free market access to the industry's two largest export markets, Canada and Mexico. Equipment manufacturers support 1.3 million jobs in the United States and 149,000 in Canada. The industry also contributes $188 billion to the U.S. and Canadian economies.
Over the past two years, AEM has called on both the Trump Administration and Congress to deliver an updated North American trade agreement for the 21st century. USMCA fulfills many of the industry's goals and strengthens North American equipment manufacturing.
Efforts include co-hosting Mike Pence, vice president of the United States, at an equipment manufacturing facility earlier this year in support of the agreement, sending a letter in support of the USMCA to Chairman Neal (D-Mass.) and the nine members of the House Democrats' Trade Working Group and running an ongoing public education campaign on the various benefits of a ratified USMCA.
AEM also is a member of the USMCA Coalition.
For more information, visit www.aem.org/advocacy.