United States-Mexico-Canada Agreement, China Phase One Agreement Finalized
JEFFERSON CITY, MO (STL.News) Today, Missouri Governor Mike Parson joined with Lieutenant Governor Mike Kehoe, Director of Agriculture Chris Chinn, and Director of Economic Development Director Rob Dixon to applaud the passage of the United States-Mexico-Canada Agreement (USMCA), which comes one day after the landmark phase one trade deal with China.
“President Trump, U.S. Trade Representative Robert Lighthizer, and Secretary of Agriculture Sonny Perdue have locked-in two historic trade deals that will benefit American farmers, workers, and small business owners,” Governor Mike Parson said. “Mexico and Canada are our top two trading partners, and as a farmer and small business owner, I know the importance of expanding trade while also ensuring that you’re getting the best deal possible. The USMCA has something for everyone, from manufacturing to agriculture. I applaud the Senate on completing their work on this agreement in such a short window of time.”
The United States-Mexico-Canada Agreement promises to inject $68 billion into the American economy while also creating an additional 176,000 jobs through economic growth in many industries, specifically manufacturing and agriculture.
For the first time in history, small and medium-sized enterprises are included in the agreement with the hope for additional trade and investment opportunities. According to the Office of the United States Trade Representative, thousands of small and medium-sized businesses exported a combined $126 billion to Canada and Mexico in 2016.
“The bi-partisan passage of the USMCA is great news for Missouri farmers, small businesses, and manufacturers,” Lieutenant Governor Mike Kehoe said. “I am grateful to President Trump and members of Missouri’s federal delegation who worked diligently to make this a reality.”
History has shown that when trade agreements favor agriculture and create a level playing field for buyers and sellers, agriculture thrives. The USMCA will also maintain zero tariffs on agriculture products traded between the United States and Mexico and will open new opportunities for dairy, poultry, egg, and wheat producers in the Canadian market.
“In a short two-day time span, Missouri agriculture has a path forward with three of our top five trading partners,” Director of Agriculture Chris Chinn said. “For those of us in agriculture, these trade deals bring with them so much more than just the purchase agreements. Agriculture is stronger today because of the consistent commitment to provisions that protect agriculture technology, grow our market access, and provide regulatory consistency moving forward.”
“The passage of USMCA is positive news for Missouri businesses,” Director of Economic Development Rob Dixon said. “Canada and Mexico are Missouri’s top two trade partners, and strengthening those relationships helps grow Missouri exports.”
Missouri agriculture is an $88.4 billion industry and remains the No. 1 economic driver in the Show-Me State. To learn more, visit agriculture.mo.gov.