“I’m pleased to announce that we’ve just reached an agreement with Canada and Mexico, and we’ll be selling our product into those countries without the imposition of tariffs or major tariffs,” Trump said during the National Association of Realtors Legislative Meetings and Trade Expo.
The USMCA, which was signed in October 2018 is an update of the North American Free Trade Agreement. While the signing could save the $1.2 trillion open-trade zone it created between the countries in 1994, it must still be ratified by the three countries. The tariffs were seen as a major impediment to the measure getting through Congress.
MEMA, parent organization of the Heavy Duty Manufacturers Association, released a statement, stating the association “applauds” the joint U.S., Canada and Mexico announcement that Section 232 steel and aluminum tariffs on Canada and Mexico will be removed.
“MEMA has long urged the administration to lift these tariffs. Today’s action is the right thing to do and we urge the Congress to quickly pass the U.S.-Mexico-Canada Agreement,” said MEMA CEO and President Bill Long.
The American Trucking Association (ATA) also issued a statement in support of the agreement.
“Trucking and trade are synonymous, and this decision by President Trump is a huge step toward achieving a vital national priority—ratification of the United States-Mexico-Canada Agreement. The more than 7 million Americans in the trucking industry cheer this decision and will work hard to see ratification of this critically-needed modernization of trade policies with our neighbors to the North and South,” said ATA President and CEO Chris Spear.
