Deal Benefiting Ohio Workers, Farmers and Small Business Owners Becomes Official Today
COLUMBUS—State Senator Louis W. Blessing III
(R-Colerain Township) applauded the official start of the historic United States-Mexico-Canada Agreement (USMCA), which becomes effective today. This marks the beginning of a historic new chapter for North American trade.
“This is a historic day for the American workforce, ensuring a level playing field and protecting our economy,” Blessing said. “The USMCA will encourage our agricultural, manufacturing and automotive industries to flourish, creating a better environment for our workers and job creators.”
USMCA replaces the North American Free Trade Agreement (NAFTA), providing the first major overhaul of these policies in more than two decades. USMCA creates a more level playing field for American workers, removes barriers for small businesses, and encourages more goods and materials to be manufactured in the United States. For example, USMCA requires that 75 percent of auto content be made in North America. This encourages both greater investment in U.S. manufacturing, and regional economic growth. USMCA also requires that at least 40-45 percent of auto content be made by workers earning at least $16 per hour. This helps workers in both countries, by raising wages and improving labor conditions in Mexico while removing the wage-based incentive to outsource American jobs.
Additionally, USMCA will strengthen the food and agriculture trade between the three countries. Ohio’s agricultural exports to Canada and Mexico are currently valued at $3.6 billion annually and support more than 29,200 Ohio jobs. USMCA will increase this even further by breaking down non-tariff barriers and opening significant new markets for Ohio agricultural products. The agreement also contains important new protections for U.S. intellectual property. To learn more about the USMCA, click here