The U.S. International Trade Commission (USITC) issued its evaluation of the U.S.-Mexico-Canada (USMCA) trade agreement on April 18 and its impact on the U.S. economy, a required step before Congress can consider ratification of the deal. USITC concluded that USMCA will have an overall favorable impact on the U.S. economy, increasing U.S. exports to Mexico and Canada by nearly 7% and 6%, respectively.
"NPPC supports ratification of USMCA, an agreement that preserves zero-tariff access to markets that represent more than 30 percent of total U.S. pork exports," said Nick Giordano, NPPC vice president and counsel, global government affairs. "We are eager to see the removal of U.S. metal tariffs that prompted Mexico's 20 percent retaliatory tariffs nearly a year ago. Members of Congress have said that ratification of USMCA will be delayed and the benefits of the agreement diluted as long as this trade dispute goes unresolved."
Giordano added, "The value of U.S. pork exports to Mexico are down 32 percent this year due to punitive tariffs. Our farmers need zero-tariff trade restored to our largest export market."
NPPC has designated USMCA ratification as a "key vote" and will closely monitor support of the agreement among members of Congress. U.S. pork exports to Mexico and Canada support 16,000 U.S. jobs.