The Association of Equipment Manufacturers (AEM) and the American Petroleum Institute (API) have joined a consumer-focused coalition to urge Congress to pass the U.S.-Mexico-Canada Trade Agreement (USMCA).
The USMCA Coalition is a collection of more than 200 companies and organizations, including the U.S. Chamber of Commerce, American Farm Bureau Federation and the National Association of Manufacturers, with an objective to secure congressional approval of the trade agreement.
“Ratifying the USMCA will guarantee North America’s manufacturing competitiveness and supports our industry’s nearly 1.5 million men and women working across the U.S. and Canada,” said AEM presient Dennis Slater. “Since the creation of NAFTA two decades ago, the U.S. economy, American workers and our industry have benefited greatly from duty-free market access to our industry’s two largest export markets, Canada and Mexico. The ability to integrate supply chains across North America has helped make U.S. equipment manufacturers more competitive globally, which in turn has created hundreds of thousands of good-paying jobs in the U.S. and Canada. That is why we are urging Congress to take quick action to ratify the United States Mexico Canada Agreement.”
Equipment manufacturers also contribute $188 billion combined to the U.S. and Canadian economies. Canada is the largest export market for U.S. manufacturers of heavy equipment and a more than $10 billion per year export market for U.S. equipment manufacturers. Mexico is a more than $2 billion per year export market for U.S. equipment manufacturers.
“We are excited to join the newly launched USMCA Coalition, which represents a wide variety of industries, businesses, farmers and manufacturers from across the nation who all support a strong free trade agreement with our key allies, Mexico and Canada,” said Kyle Isakower, API vice president of regulatory and economic policy. “This isn’t just about the potential impact to the U.S. energy industry, but also to small businesses, manufacturers and U.S. jobs. We call on Congress to put working families first and pass the USMCA to ensure the free flow of goods and energy between U.S., Canada and Mexico.”
API represents all facets of the U.S. natural gas and oil industry, which supports 10.3 million jobs and nearly 8 percent of the economy. The association’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses and service and supply firms.
“The USMCA contains critical provisions that will enable the American natural gas and oil industry to continue its role as the world’s energy leader, provide affordable and reliable energy to American families, support key investments and energy projects across the country, as well as the continued support of over 10.3 million U.S. jobs,” Isakower added.Tags: AEM, API, United States-Mexico-Canada Agreement (USMCA), USMCA Coalition