Benefits of USMCA

Carlos Braadt

With the North American Free Trade Agreement (NAFTA) addendum, the United States Mexico-Canada Agreement (USMCA), agreed upon by the three parties involved, we should understand how Canada stands to gain from this piece of policy. According to the Minister of Intergovernmental and Northern Affairs and Internal Trade, Dominic LeBlanc, the USMCA is a great supporter for the working middle class of New Brunswick. “The USMCA secures countless middle class jobs right here in New Brunswick and across Canada. This will help the Canadian economy grow” stated LeBlanc during a visit to the Imperial Manufacturing Group.

“The USMCA maintains free trade across an economically influential, integrated and competitive regional market of 486 million consumers and a combined GDP of US $22 trillion” said Minister of Foreign Affairs, Chrystia Freeland. “It addresses modern-day trade issues and supports prosperity for Canadians by ensuring that our businesses, entrepreneurs, workers, ranchers, farmers and fishers will have continued preferential access to our largest market.”

The USMCA is still being finalized between all three parties and the Government of Canada is continuing to ensure that the deal will benefit all members, but most especially Canada and its citizens. Since the United States is Canada’s largest trading partner, and Mexico being the third largest, it is imperative that the agreement will allow Canadian goods to have access to foreign markets.