The California Chamber of Commerce today welcomed news that the United States House of Representatives voted to approve the U.S.-Mexico-Canada Agreement (USMCA).
“It’s about time that the USMCA becomes a reality,” said Allan Zaremberg, CalChamber President and CEO. “Mexico and Canada are two of California’s strongest trading partners and trade with Mexico and Canada supports nearly 14 million U.S. jobs. The USMCA is a necessary modernization to NAFTA that recognizes the impacts of technology on the three countries’ economies.”
CalChamber’s support for the USMCA, like its longstanding support for NAFTA, is based on an assessment that the agreement serves the employment, trading and environmental interests of California, the United States, Mexico and Canada, and is beneficial to the business community and the California and national economies.
The objectives of the USMCA are to eliminate barriers to trade, promote conditions of fair competition, increase investment opportunities, provide adequate protection of intellectual property rights, establish effective procedures for implementing and applying the agreements and resolving disputes, and to further trilateral, regional and multilateral cooperation. Due to California’s position as a global leader in international trade, the priorities of the USMCA are important to CalChamber’s members and the overall economic health of the state.
The United States Senate is likely to vote on the measure in January.
The California Chamber of Commerce (CalChamber) is the largest broad-based business advocate to government in California. Membership represents one-quarter of the private sector jobs in California and includes firms of all sizes and companies from every industry within the state. Leveraging our front-line knowledge of laws and regulations, we provide products and services to help businesses comply with both federal and state law. CalChamber, a not-for-profit organization with roots dating to 1890, promotes international trade and investment in order to stimulate California’s economy and create jobs. Please visit our website at www.calchamber.com.