USMCA Will Be a Huge Boost for Arkansas Trade
As the end of the year approaches, there’s no shortage of news here on Capitol Hill. The House of Representatives is quickly trying to get impeachment articles, appropriations and military funding finalized before Christmas. But by far the most important news of the week was a deal on the United States, Mexico and Canada Agreement (USMCA). This is an overwhelmingly bipartisan trade agreement that’s been ready to go for over a year, and yet House Speaker Nancy Pelosi refused to bring it to the floor for a vote for unspecified reasons.
Now, in the eleventh hour, she’s finally announced that we’re moving forward on USMCA, which is welcome news. The House should be able to vote on it quickly and get it to the Senate.
What will this trade deal look like in practice? It will result in an estimated $68 billion in economic growth across the country, providing hundreds of thousands of American jobs and solidifying solid trade partnerships with our closest neighbors. In Arkansas alone, more than 7,000 manufacturing jobs depend on exports to Canada and Mexico, not to mention thousands of other jobs relating to agricultural production. Mexico has now become America’s number one trading partner, replacing China. If we get an agreement with Japan, we would have new trade agreements with three of our top four trading partners.
Overall, this agreement is a massive win for the U.S. economy, and I only wish Speaker Pelosi had let us vote on it sooner. President Trump continues delivering on his promises to revitalize American jobs, and I’m looking forward to seeing USMCA ratified and put into action.