COLUMBUS— State Senator Bob Peterson (R-Washington Court House) issued the following statement regarding the United States-Mexico-Canada Agreement announcement on Tuesday:
“Ohio does nearly $25 billion in export trade with Mexico and Canada, our economy depends on this trade. I am pleased to see Congress finally ratify USMCA,” said Peterson. “This agreement is a huge win for Ohio’s agriculture and food industries, for farmers, manufacturers, workers and businesses.”
The agreement, which will replace the North American Free Trade Agreement, will create a more level playing field for American workers, remove barriers for small businesses, and encourage more goods and materials to be manufactured in the United States, Peterson said. It will also strengthen the food and agriculture trade between the three countries and create new protections for U.S. intellectual property.
The U.S. International Trade Commission estimates that USMCA will increase the United States’ GDP by $68.2 billion and create 176,000 jobs, including 76,800 jobs in the U.S. automotive industry.
The Ohio Senate recently passed Senate Resolution 376, urging Congress to ratify the USMCA.
Additionally, several Ohio organizations strongly support the USMCA and testified in support of SR 376, including the Ohio Chamber, the Ohio Farm Bureau Federation, the Ohio Manufacturers’ Association, the Ohio Soybean Council, the Ohio Corn and Wheat Growers Association, and other agricultural groups.
House Democrats and the White House announced a deal Tuesday on a modified North American trade pact, handing President Donald Trump a major Capitol Hill win on the same day that impeachment charges were announced against him. Both sides hailed the deal as a win for American workers.
They said the revamped U.S.-Mexico-Canada Agreement was a significant improvement over the original North American Free Trade Agreement, with Democrats crowing about winning stronger provisions on enforcing the agreement while Republicans said it will help keep the economy humming along.
“There is no question of course that this trade agreement is much better than NAFTA,” House Speaker Nancy Pelosi, D-Calif., said in announcing the agreement, saying the pact is “infinitely better than what was initially proposed by the administration.”
Trump said the revamped trade pact will “be great” for the United States.
“It will be the best and most important trade deal ever made by the USA. Good for everybody – Farmers, Manufacturers, Energy, Unions – tremendous support. Importantly, we will finally end our Country’s worst Trade Deal, NAFTA!,” the president said in a tweet.
The Associated Press contributed to this article.