TRADE ALERT: President Trump Signs U.S. - Mexico - Canada Agreement (USMCA)

Office of the Press Secretary
FOR IMMEDIATE RELEASE
January 29, 2020
PRESIDENT DONALD J. TRUMP’S UNITED STATES-MEXICO-CANADA AGREEMENT DELIVERS A HISTORIC WIN FOR AMERICAN WORKERS

“The USMCA is the largest, most significant, modern, and balanced trade agreement in history. All of our countries will benefit greatly.” – President Donald J. Trump

DELIVERING ON HIS PROMISE: President Donald J. Trump is replacing the outdated North American Free Trade Agreement (NAFTA) with the United States-Mexico-Canada Agreement (USMCA).
• Today, President Trump is signing his historic USMCA deal, making good on his promise to deliver fairer and more reciprocal trade for the American people.
• USMCA will replace the terrible NAFTA agreement that resulted in the loss of millions of American jobs and devastated communities across our county.
• The deal marks a tremendous victory for American workers, farmers, manufacturers, and businesses alike.

STANDING UP FOR AMERICAN WORKERS: USMCA will deliver more jobs and better labor protections that benefit American workers, while fostering more growth for American businesses.
• While NAFTA was a disaster for American workers, USMCA will deliver new jobs and better protections for hardworking Americans across the country.
• USMCA has the potential to create nearly 600,000 jobs and generate up to $235 billion in economic activity.
• This deal includes the strongest, most advanced, and most comprehensive labor chapter of any American trade agreement in history.
• Workers in all sectors of the economy are expected to benefit from this landmark agreement.
• USMCA is the first United States trade agreement to ever include a chapter supporting small and medium sized businesses.

SUPPORTING AMERICAN FARMERS: USMCA includes tremendous breakthroughs for American agriculture.
• USMCA is a monumental win for American farmers and ranchers, improving access to Canadian and Mexican markets to export their goods.
• As a result of President Trump’s efforts to secure a better deal for our farmers, American agricultural exports are expected to increase by $2.2 billion under USMCA.
• Under the agreement, Canada has agreed to expand market access for American dairy, egg, and poultry producers.
     o The agreement is expected to grow annual dairy exports by nearly $315 million.
• American wheat growers will have access to a more level playing field.
     o Thanks to this deal, Canada will finally give fair treatment to American-grown wheat.

DRIVING NEW GROWTH FOR THE AUTO INDUSTRY: USMCA will provide a massive boost to American manufacturers, particularly our vital auto industry.
• USMCA will achieve fairer, more reciprocal trade that supports high-paying American manufacturing jobs and grows the economy.
• USMCA includes innovative provisions to incentivize new investments in the American auto industry and support high-paying jobs for American auto workers.
     o New wage and rules of origin requirements included in the agreement will put American autoworkers on a level playing field with workers from other countries.
• USMCA is expected to create up to 76,000 new auto jobs, spur $34 billion in new investment in the auto industry, and add $23 billion in auto parts purchases annually.

MODERNIZING REGIONAL TRADE: USMCA will bring our trade relationship with Canada and Mexico into the 21st century.
• USMCA is a modern trade deal that will completely transform our trade relationship with Canada and Mexico and end the outdated NAFTA.
• USMCA contains new protections for American intellectual property, ensuring strong, effective protection for American innovators and creators.
• Included in USMCA is a first-of-its-kind chapter on digital trade, which the decades-old NAFTA was never updated to address.
     o The digital trade provisions included in this agreement will foster economic growth and innovation for years to come.
• USMCA includes first-of-its-kind provisions to prohibit unfair currency practices and reinforce exchange rate stability.
• The agreement includes the strongest environmental standards of any trade agreement in our history.
     o These standards are fully enforceable and will help prevent companies from moving out of the United States—and taking jobs with them—to avoid environmental rules.