COLUMBUS—In response to President Donald Trump signing the United States-Mexico-Canada Agreement (USMCA) today, State Senator Bob Peterson (R-Washington Court House) issued the following statement:
"Today's signing of the USMCA is a historic moment in our nation's history and will pave the way for even more economic development in our state. The USMCA is a unique opportunity for fair and meaningful reforms, which will give American businesses unprecedented access to Canadian and Mexican markets, and protect American jobs. I am especially thrilled for the Ohio farmers, business owners and workers who will benefit from the USMCA and our economic partnerships with Mexico and Canada.”
The agreement replaces the North American Free Trade Agreement, creating a more level playing field for American workers, remove barriers for small businesses, and encourage more goods and materials to be manufactured in the United States. It will also strengthen the food and agriculture trade between the three countries and create new protections for U.S. intellectual property.
The U.S. International Trade Commission estimates that USMCA will increase the United States' GDP by $68.2 billion and create 176,000 jobs, including 76,800 jobs in the U.S. automotive industry.