Trade blocs

CAGW Statement on Implementation of the USMCA

Wednesday, July 1, 2020 - 5:28pm

Today marks the effective date of the U.S. Mexico Canada free trade agreement (USMCA).

Key Points: 
  • Today marks the effective date of the U.S. Mexico Canada free trade agreement (USMCA).
  • The USMCA is the strongest trade deal ever among the three countries and has the potential to boost the U.S. economy by $68.2 billion and create 176,000 new jobs.
  • The following statement may be attributed to CAGW President Tom Schatz:
    As the USMCA rolls out, the economies of all three trading partners will be improved by modernizing trade practices among the U.S., Canada and Mexico.
  • Citizens Against Government Waste is the nation's largest nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.

USW Says Much Work Remains to Ensure Effectiveness of USMCA

Wednesday, July 1, 2020 - 4:18pm

"The labor movement, led by thousands of USW members, pushed hard to ensure that the USMCA was a significant improvement over NAFTA, which cost the United States tens of thousands of good manufacturing jobs.

Key Points: 
  • "The labor movement, led by thousands of USW members, pushed hard to ensure that the USMCA was a significant improvement over NAFTA, which cost the United States tens of thousands of good manufacturing jobs.
  • Thanks to the hard work of Democrats in Congress, the new agreement contains stronger language to protect good jobs from offshoring and to ensure workers' rights, particularly in Mexico.
  • "We also can't ignore that today's implementation of the USMCA comes at a perilous time for all workers.
  • It sets minimum standards, and we must continue to fight each day to ensure those standards are enforced.

Hoffa: USMCA Will Ensure Safer Roadways, Increased Labor Rights For Workers

Wednesday, July 1, 2020 - 4:15pm

The deal was possible due to the hard work of the Teamsters, a bipartisan collection of policymakers and allies who joined together and worked for years to get it done.

Key Points: 
  • The deal was possible due to the hard work of the Teamsters, a bipartisan collection of policymakers and allies who joined together and worked for years to get it done.
  • The North American Free Trade Agreement (NAFTA) had made roadways less safe due to allowing older, Mexican-domiciled trucks on them.
  • That came with new enforcement mechanisms that will protect worker rights in Mexico, especially the right to form independent unions.
  • The new labor chapter also includes the right to strike as an expression of the freedom of association and contains protections against workplace violence and for migrant workers.

FedEx Welcomes the U.S.-Mexico-Canada Agreement

Wednesday, July 1, 2020 - 2:00pm

FedEx Corp. (NYSE: FDX) today recognizes the entry into force of the U.S.-Mexico-Canada Agreement (USMCA/T-MEC/CUSMA).

Key Points: 
  • FedEx Corp. (NYSE: FDX) today recognizes the entry into force of the U.S.-Mexico-Canada Agreement (USMCA/T-MEC/CUSMA).
  • View the full release here: https://www.businesswire.com/news/home/20200701005331/en/
    FedEx Welcomes the U.S.-Mexico-Canada Agreement (Photo: Business Wire)
    At FedEx, trade is our business, and expanding global trade is essential to our customers, our workers and our company.
  • USMCA replaces the twenty-six-year-old North American Free Trade Agreement (NAFTA), helping to streamline trade across the North American market, which is of critical importance to FedEx and our customers.
  • The agreement is recognized in Mexico as the Tratado entre Mexico, Estados Unidos y Canada (T-MEC) and in Canada as the Canada-United States-Mexico Agreement (CUSMA).

ATA Hails USMCA Implementation

Wednesday, July 1, 2020 - 1:00pm

"This is a tremendous day," said ATA President and CEO Chris Spear, "thanks to the efforts of many people in our three nations, USMCA is officially taking effect.

Key Points: 
  • "This is a tremendous day," said ATA President and CEO Chris Spear, "thanks to the efforts of many people in our three nations, USMCA is officially taking effect.
  • Ratified in January, the USMCA is projected to increase annual U.S. exports to Canada and Mexico by a combined $33 billion above the current NAFTA baseline.
  • I expect that growth related to USMCA will provide a real boost for trucking in the coming years."
  • "USMCA is an important updated to an old NAFTA agreement.

North American Steel Industry Celebrates the Entry Into Force of the USMCA

Wednesday, July 1, 2020 - 2:00pm

OTTAWA, July 01, 2020 (GLOBE NEWSWIRE) -- Today, the North American steel industry celebrates the entry into force of the United States-Mexico-Canada Agreement (USMCA), a critical milestone for the North American steel sector, its workers, and its supply chains.

Key Points: 
  • OTTAWA, July 01, 2020 (GLOBE NEWSWIRE) -- Today, the North American steel industry celebrates the entry into force of the United States-Mexico-Canada Agreement (USMCA), a critical milestone for the North American steel sector, its workers, and its supply chains.
  • The USMCA will strengthen the competitiveness of all three trading partners while enhancing the development of North Americas globally competitive advanced manufacturing sector, particularly for North American steel producers.
  • The USMCA benefits North American steelmakers and the entire sector by further strengthening our existing integrated supply chains in the region and by improving on the terms of the original North American Free Trade Agreement (NAFTA).
  • The collective North American steel sector stands ready to work with our Governments and supply chains to ensure the success of the USMCA and is willing and able to supply North American steel to our customers to meet their needs.

STATEMENT ON USMCA ENTRY INTO FORCE

Wednesday, July 1, 2020 - 12:00pm

Washington, D.C., July 01, 2020 (GLOBE NEWSWIRE) -- Here For America is committed to the success and growth of the U.S. auto industry.

Key Points: 
  • Washington, D.C., July 01, 2020 (GLOBE NEWSWIRE) -- Here For America is committed to the success and growth of the U.S. auto industry.
  • An integrated North American automotive market has been key to the expansion of international automakers operations in the United States, who together build nearly half of all cars and trucks produced here and support over 2.4 million American jobs.
  • Todays entry into force of the U.S.-Mexico-Canada Agreement (USMCA) starts the next chapter in this important trilateral trading relationship and we will continue to work with all stakeholders as our members navigate the compliance complexities of this new agreement."
  • Learn more at www.hereforamerica.com.

Statement by the Deputy Prime Minister on the entry-into-force of the new NAFTA

Tuesday, June 30, 2020 - 10:24pm

"The new NAFTA protects jobs and prosperity for workers in all three NAFTA countries.

Key Points: 
  • "The new NAFTA protects jobs and prosperity for workers in all three NAFTA countries.
  • "To Canadians from across the country and all sectors of the economy and society who provided valuable input in the negotiations: thank you.
  • safeguards more than $2-billion a day in cross-border trade and tariff-free access for 99.9 per cent of Canada's U.S.-bound exports.
  • Thisprovides additional security for Canada's resource producers and workers that decisions on the future of their sector will be made by Canadians.

IBC Bank Executives Laud Implementation of USMCA

Tuesday, June 30, 2020 - 10:10pm

Nixon and IBC Bank Corporate International Division head and Executive Vice President Gerry Schwebel received personal invitations from the White House to attend the signing ceremony of USMCA.

Key Points: 
  • Nixon and IBC Bank Corporate International Division head and Executive Vice President Gerry Schwebel received personal invitations from the White House to attend the signing ceremony of USMCA.
  • USMCA offers a solution for diversifying our supply chains and bringing more of them closer to home, explained Schwebel.
  • The implementation of USMCA provides a unique opportunity for us to do so.
  • He frequently represents IBC Bank and its customers with top government and business leaders in the United States, Mexico and Canada.

E2open Offers Clients Seamless Transition to New US-Mexico-Canada Agreement Going into Effect July 1, 2020

Tuesday, June 30, 2020 - 9:56pm

As the trade agreement goes into effect, E2open clients can confidently comply with new USMCA regulatory requirements and capture every available duty savings opportunity to ensure the lowest total landed cost for its products.

Key Points: 
  • As the trade agreement goes into effect, E2open clients can confidently comply with new USMCA regulatory requirements and capture every available duty savings opportunity to ensure the lowest total landed cost for its products.
  • E2open helps clients quickly cut through the red tape, stay current and realize the full potential of all available trade agreements.
  • Given the importance of trade between America, Canada and Mexico, ensuring a seamless transition to USMCA is essential for our clients.
  • E2open clients enjoy recurring monetary benefits each year by automating these time-intensive and error-prone processes.