WASHINGTON, D.C.- The National Foreign Trade Council (NFTC) today joined nearly 70 leading industry associations representing the full breadth of the U.S. economy in calling on the administration to extend the United States-Mexico-Canada Agreement (USMCA) and to ensure stakeholder engagement throughout the process.
In a letter addressed to United States Trade Representative Jamieson Greer, the groups reiterated their strong support for a trilateral USMCA, highlighting the importance of one agreement with both Canada and Mexico to American competitiveness. The letter emphasizes the importance of ongoing stakeholder consultations as the administration engages Canada and Mexico on upgrades to the agreement.
The associations make the case that “[a]s the United States’ largest export markets and primary sources of indispensable inputs, Mexico and Canada are foundational to our economic strength and resilience.”
“U.S. production and supply chains are built on trillions in long-term investment, which have been refined over years to be highly efficient to comply with USMCA’s rigorous framework,” the letter continues. “Material changes to USMCA requirements or rules of origin could lead to multi-year supply chain disruptions at significant cost to companies invested in America, raise consumer prices, and erode North American competitiveness. It is therefore imperative that proposals, including rules of origin, be clear, implementable, recognize manufacturing and production realities, and minimize trade disruptions.”
The groups reinforced their commitment to working constructively with the administration towards a positive outcome while also emphasizing the importance of restoring duty-free North American trade.
Read the full text here.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
