LANSING, Mich. — The Senate Committee on Economic and Small Business Development on Thursday approved Senate Resolution 73, which urges Congress to quickly approve the recently negotiated United States-Mexico-Canada Agreement (USMCA), said resolution sponsor Sen. Roger Victory.
The USMCA provides a 21st century trade agreement for North America with favorable provisions to agriculture, autoworkers and manufacturing jobs.
“The United States-Mexico-Canada Agreement is a win for all three nations and will promote more robust trade, which is crucial to the success of Michigan’s small businesses, agricultural industry and automotive sector,” said Victory, R-Hudsonville.
Victory said the USMCA will:
• Create a more level playing field for American workers, including improved rules of origin for automobiles, trucks and other products;
• Benefit American farmers, ranchers and agribusinesses by modernizing and strengthening food and agriculture trade in North America;
• Support a 21st century economy through new protections for U.S. intellectual property and ensuring opportunities for trade in U.S. services;
• Help establish digital trade, anti-corruption and good regulatory practices; and
• Help ensure that small and medium-sized enterprises benefit from the agreement.
The leaders of the United States, Canada and Mexico signed the USMCA on Nov. 30, 2018. It now needs to be approved by each nation’s legislature.
SR 73 states that a seamless transition between NAFTA and the USMCA is necessary to ensure that none of the benefits to trade accomplished by the integration of the three economies are lost.
SR 73 now heads to the full Senate for further consideration.
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