Leaders from the the U.S., Canadian and Mexican chemical industries today issued a joint statement welcoming the entry into force of the United States-Mexico-Canada Agreement (USMCA) – also known as the Canada-United States-Mexico Agreement (CUSMA) in Canada and the Tratado entre México, Estados Unidos y Canadá (T-MEC) in Mexico. The joint statement follows years of collaboration among the three associations on North American trade issues, including modernizing the North American Free Trade Agreement (NAFTA).
“USMCA is a historic trade agreement that has taken on even more importance in these uncertain and challenging times,” said American Chemistry Council (ACC) President and CEO, Chris Jahn. “Trade agreements that eliminate tariffs and address other barriers to trade will be a fundamental part of a strong economic recovery and reinvigoration of U.S. manufacturing and innovation. The North American chemical industries are ready to make USMCA one of the bright spots of the recovery by leveraging resilient, low-cost supply chains, attracting new investment in North American chemical manufacturing, and enhancing innovation and regulatory cooperation throughout the region.”
“The Canadian chemistry industry and its more than 87,000 workers welcome this new era of North American free trade,” added Chemistry Industry Association of Canada (CIAC) President and CEO, Bob Masterson. “The North American chemistry industry is already highly integrated. Canada traded $65.1 billion in chemical products with the U.S. and Mexico in 2018. Commitments made under this trade agreement to coordinate and cooperate on chemistry regulatory issues will improve the sector’s competitive position globally,” Masterson added.
“USMCA brings certainty to the chemical industry in North America and is one of the most modern free trade agreements ever reached,” said Asociación Nacional de la Industria Química (ANIQ) President, Miguel Benedetto Alexanderson. “Mexico’s chemical industry is responsible for $19.2 billion in chemical shipments and traded $25.8 billion in chemical products with the United States and Canada in 2019. We look forward to using USMCA to strengthen supply chains and the chemical industry as a whole.”
