Page 19 - THE SOUTH CHINA BUSINESS JOURNAL
P. 19
D .C. Today
Next Steps for
North American Trade
Article by Thomas J. Donohue, President and CEO, U.S. Chamber of Commerce
After more than a year of negotiations, with plenty of ups “It has been a long and, at
and downs along the way, President Donald Trump,
Canadian Prime Minister Justin Trudeau, and now former times, a rocky path forward
Mexican President Enrique Peña Nieto signed the U.S.- for North American trade
Mexico-Canada Agreement (USMCA) on November 30. This relations. We are in a better
agreement – a follow-on to NAFTA – will modernize the trade place today than we were
partnership that has formed the basis of North American several months ago...
relations for a quarter of a century.
We must also build support in Congress on
After carefully assessing the new deal and its impact the merits of the deal. Shortly after signing the
on our members, the U.S. Chamber of Commerce has USMCA, President Trump announced that he
thrown its support behind the USMCA, which is critical to would be “terminating NAFTA quickly” in order
maintaining strong economic growth in the U.S. We will to present the incoming Congress with a choice
work with the administration and other stakeholders to between the new agreement and no agreement.
address a handful of outstanding issues and secure approval We disagree with this strategy. U.S. Trade
of the USMCA in Congress. Representative Robert Lighthizer has insisted
that the USMCA was negotiated in such a way
A critical first step is lifting the tariffs on steel and aluminum to attract bipartisan support. So essentially
imports from Canada and Mexico that were supposed to end issuing this threat against a co-equal branch of
once the USMCA was agreed to. These tariffs – imposed on government is neither necessary nor productive
our partners as a negotiating tactic – have invited $15 billion in and could actually cost votes.
counter-tariffs on U.S. agricultural and manufactured goods.
Every week that the tariffs remain in place, $500 million in U.S. This is a risky gambit when you consider
imports and exports are affected, inflicting significant harm that withdrawal from NAFTA without a
on American workers, farmers, and ranchers. They must be successor agreement could jeopardize
eliminated without delay. 1.8 million American jobs. We are urging
the administration to drop this threat.
Enrique Pena Nieto, Mexico's president, President Donald Trump, and The USMCA is a good agreement, and the
Canada's Prime Minister Justin Trudeau after signing the United States- business community will help make that case
Mexico-Canada Agreement (Photo credit: Sarah Pabst/Bloomberg) to Congress.
It has been a long and, at times, a rocky path
forward for North American trade relations.
We are in a better place today than we were
several months ago – when the future of the
trilateral partnership seemed in question – but
we still have a way to go. The U.S. Chamber
will stay the course and continue to work
toward a modern and mutually beneficial
economic relationship with our two closest
friends and neighbors.■
South China Business Journal 16
Next Steps for
North American Trade
Article by Thomas J. Donohue, President and CEO, U.S. Chamber of Commerce
After more than a year of negotiations, with plenty of ups “It has been a long and, at
and downs along the way, President Donald Trump,
Canadian Prime Minister Justin Trudeau, and now former times, a rocky path forward
Mexican President Enrique Peña Nieto signed the U.S.- for North American trade
Mexico-Canada Agreement (USMCA) on November 30. This relations. We are in a better
agreement – a follow-on to NAFTA – will modernize the trade place today than we were
partnership that has formed the basis of North American several months ago...
relations for a quarter of a century.
We must also build support in Congress on
After carefully assessing the new deal and its impact the merits of the deal. Shortly after signing the
on our members, the U.S. Chamber of Commerce has USMCA, President Trump announced that he
thrown its support behind the USMCA, which is critical to would be “terminating NAFTA quickly” in order
maintaining strong economic growth in the U.S. We will to present the incoming Congress with a choice
work with the administration and other stakeholders to between the new agreement and no agreement.
address a handful of outstanding issues and secure approval We disagree with this strategy. U.S. Trade
of the USMCA in Congress. Representative Robert Lighthizer has insisted
that the USMCA was negotiated in such a way
A critical first step is lifting the tariffs on steel and aluminum to attract bipartisan support. So essentially
imports from Canada and Mexico that were supposed to end issuing this threat against a co-equal branch of
once the USMCA was agreed to. These tariffs – imposed on government is neither necessary nor productive
our partners as a negotiating tactic – have invited $15 billion in and could actually cost votes.
counter-tariffs on U.S. agricultural and manufactured goods.
Every week that the tariffs remain in place, $500 million in U.S. This is a risky gambit when you consider
imports and exports are affected, inflicting significant harm that withdrawal from NAFTA without a
on American workers, farmers, and ranchers. They must be successor agreement could jeopardize
eliminated without delay. 1.8 million American jobs. We are urging
the administration to drop this threat.
Enrique Pena Nieto, Mexico's president, President Donald Trump, and The USMCA is a good agreement, and the
Canada's Prime Minister Justin Trudeau after signing the United States- business community will help make that case
Mexico-Canada Agreement (Photo credit: Sarah Pabst/Bloomberg) to Congress.
It has been a long and, at times, a rocky path
forward for North American trade relations.
We are in a better place today than we were
several months ago – when the future of the
trilateral partnership seemed in question – but
we still have a way to go. The U.S. Chamber
will stay the course and continue to work
toward a modern and mutually beneficial
economic relationship with our two closest
friends and neighbors.■
South China Business Journal 16
