WASHINGTON (April 18, 2019)—The Border Trade Alliance says a new analysis by the U.S. International Trade Commission on the likely economic impact of the USMCA provides compelling evidence for lawmakers to swiftly ratify the successor agreement to NAFTA.
According to the ITC report released Thursday, the USMCA is poised to raise U.S. real GDP by $68.2 billion, or .35 percent, and it will result in an estimated 176,000 new U.S. jobs.
“This new report confirms what those of us in the cross-border trade community have known all along: the USMCA will make the U.S. economy more competitive and create jobs,” BTA Chair Paola Avila said. “The ITC’s finding are all the more impressive considering that they are compared against the current NAFTA, in which trade already is conducted almost 100 percent tariff-free. That the U.S. economy is projected to enjoy such strong growth under the USMCA is a testament to the job growth we have already seen with NAFTA.”
The completion of the assessment marks an important milestone on the path to the USMCA’s adoption. Leaders on Capitol Hill have said that legislation to fully enact the USMCA would not be formally introduced until the ITC completed its analysis and Congress could review it.
“After assessing the USMCA’s positive economic impacts, we continue to believe that members of Congress from both parties will strongly support the new pact,” BTA President Ms. Britton Clarke said. “This ITC report makes a persuasive case for the USMCA’s speedy adoption, which will lead to job growth and greater prosperity. Let’s not wait. The time for the USMCA’s adoption is now.”
Since 1986, the BTA has served as a grassroots, non-profit organization that provides a forum for discussion and advocacy on issues pertaining to border development and quality of life and trade in the Americas. A network of public and private sector representatives from the United States, Mexico and Canada, BTA’s core values include a commitment to improving the quality of life of border communities through trade and commerce. The BTA is online at thebta.org and @borderalliance.
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