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USMCA Passes Senate, New North American Trade Deal Moves to President

Last week the critical trade pact between the U.S.-Mexico-Canada Agreement (USMCA) passed through the United States Senate, the final hurdle before being sent to the President’s desk for enactment. The USMCA will have a disproportionately positive impact on the state of Michigan and its key industries, especially automotive and manufacturing.

MICHauto and the Detroit Regional Chamber have been an active advocate in the national media, to federal officials, and in communication with the White House and key industry leaders to share the criticality of the USMCA to the state and nation’s economy. MICHauto and the Chamber strongly applaud U.S. Senators Debbie Stabenow and Gary Peters for their effort to improve USMCA and their “yes” votes supporting the agreement.

Thank you to our coalition of 50+ statewide businesses and employer organizations for continued support, our partners at MEMA for coordinating legislative fly-ins to Washington, D.C. where we were on the ground driving our message, and to our members of Congress of both parties statewide for this historic agreement.

The new rules of origin in the USMCA will ensure that more goods and materials will be manufactured in the U.S. According to the Office of the United States Trade Representative, the impact of the new “Rules of Origin” will also significantly benefit the automotive industry and its workforce, estimating $34 billion in new investments, $23 billion in new auto parts purchasing, and creating 76,000 new automotive jobs over five years.

The approval of the USMCA provides U.S. businesses the certainty they need to continue economically beneficial investments dependent on access to Canadian and Mexican markets. This is a huge win for our state and our industry.

 

 

 

 

Glenn Stevens Jr.
Executive Director, MICHauto; Vice President, Automotive and Mobility Initiatives,
Detroit Regional Chamber