Businesses Urge Congress to Ratify USMCA
About 350 companies, trade associations and local manufacturing groups and chambers of commerce are urging Congress to ratify the United States-Mexico-Canada Agreement "as soon as possible this autumn." The letter, led by the National Association of Manufacturers and signed by…
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giants like Ford, GM, Fiat Chrysler, Caterpillar, IBM, GE, Honeywell, Bayer and Bristol-Myers Squibb, was sent Oct. 15. It said that ratification "is essential to promoting certainty and growth for manufacturing businesses." Volvo North America and Mahindra Automotive America signed the letter, but BMW and Mercedes -- whose supply chains would likely have to change to meet stricter rules of origin -- did not. The letter referred to trade facilitation -- though not explicitly higher de minimis levels in Canada and Mexico, in saying that the USMCA will eliminate red tape at the border, and make "it easier for small and medium-sized businesses to sell into these critical markets."