Wittman advocates for USMCA at Pence roundtable
The panel discussed the importance of ratifying the US Mexico Canada (USMCA) Agreement signed by President Trump on November 30, 2018 and the effect it could have on the Commonwealth and the nation. Other panelists included Rep. Denver Riggleman (VA-05) and Former Governor George Allen.
“Ratifying the USMCA is especially critical to the First District and entire Commonwealth; over 13,000 jobs in Virginia depend on manufacturing exports to Canada and Mexico,” Wittman said. “Accounting for nearly a quarter of all exports from Virginia, trade with our northern and southern partners is necessary for continued job creation and growth here at home. By increasing duty-free access of the world-class agricultural products we create in the Commonwealth and improving outdated policies, the USMCA improves the financial position of all Virginians.”
According to the US Chamber of Commerce, twelve million American jobs rely on trade with Mexico and Canada. Mexico and Canada together represent a $500 billion export market for the U.S. as they buy one-third of the goods America exports, plus tens of billions of dollars more in services. The U.S. trade representative reported that the USMCA’s automotive provisions would yield more than $30 billion in new investments over five years and billions more in purchases of U.S. auto parts every year. All in all, the International Trade Commission predicts the USMCA would create around $68 billion in wealth and 176,000 jobs for America.
“Through the USMCA, we will see investment come back to American shores,” Wittman said. “Auto companies are planning an estimated $34 billion in new automotive manufacturing investment and $23 billion in new automotive purchases in the first five years; food and agriculture exports are expected to increase by $2.2 billion. Mexico has already ratified the agreement and Canada is waiting for the United States to act. The time for Congress to pass the USMCA is now, and I will continue to urge Democratic Leadership in Washington to bring this measure to a vote so we can do what is right for the American people.”