More than a quarter-century ago, the North America Free Trade Agreement was
signed right here in San Antonio. This innovative trade deal made sweeping
Cornyn: Texans win with USMCA
By Senator John Cornyn
(Originally published in the San Antonio Express-News
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) 

More than a quarter-century ago, the North America Free Trade Agreement was
signed right here in San Antonio. This innovative trade deal made sweeping
changes to the way we do business with our northern and southern neighbors by
giving us duty-free access to Mexican and Canadian markets. It also gave the
I-35 corridor — and San Antonio — a starring role in North American trade.

By virtually any measure, NAFTA has been a huge success, leading to more than
triple the trade with Mexico and Canada since it took effect. During that time,
though, a lot has changed. Back then, the internet was in its infancy,
smartphones didn’t exist, and the only shopping you did was at brick-and-mortar
stores. The way we do business has evolved significantly, and the
once-revolutionary policies of NAFTA can no longer keep up.

More than a year ago, President Donald Trump reached a deal with the leaders
of Mexico and Canada to bring our trade into the 21st century, and this week,
it received the green light from the U.S. Senate. With strong bipartisan
support, we passed the U.S.-Mexico-Canada Agreement, which will take bold steps
to modernize our trade with our northern and southern neighbors, and continue
the prosperity Texas’ economy has experienced through NAFTA.

Since the deal was announced, I’ve heard from countless Texans about the need
to get the USMCA ratified, and some of its most vocal supporters are here in
San Antonio. Community leaders, including elected officials, business owners
and local Chambers of Commerce, have been clear: We need the USMCA.

This trade agreement preserves the hallmark provisions of NAFTA, while making
changes to account for our ever-evolving economy. The USMCA includes strong
protections for intellectual property, which is critical to safeguarding the
incredible innovation we see at home. It cuts the red tape that has prevented
small businesses from tapping into foreign markets. And it accounts for
e-commerce and digital products as these products continue to make up a larger
portion of our economy.

Some of the most significant changes will provide serious benefits to the
auto industry. For cars to be imported duty-free, the original NAFTA required
at least 62.5 percent of the parts automakers used in their vehicles to be
North American-made. The USMCA will increase that threshold to 75 percent by
2023. It’s a huge incentive for automakers to keep manufacturing and jobs right
here in Texas, rather than sending them overseas.

The USMCA will also protect market access for the agriculture industry, which
experienced tremendous growth in exports under NAFTA. We have more farms and
ranches than any other state, and the annual economic impact of Texas
agriculture totals about $100 billion. The USMCA will build on NAFTA’s success,
and ensure Canada and Mexico remain our top customers for agricultural
products. It’s expected to lead to a $2.2 billion increase in U.S. agriculture
and food exports, and we’re sure to reap many of those benefits here in Texas.

Texas has the 10th-largest economy in the world, and is the engine behind
much of our country’s trade. In 2018, we exported more than $137 billion in
goods and services to Mexico and Canada, and with the passage of the USMCA,
that number is expected to go up.

Experts say the USMCA will lead to increased wealth for the United States and
176,000 new American jobs. It’s expected to have a positive impact on every
industry sector of the U.S. economy and result in an increase of more than $33
billion in exports. It’s a sign of even more good news to come for our national
economy.

I was proud to vote in support of the USMCA, and I’m eager for this agreement
to finally take effect. Less than three weeks into 2020, we’ve already notched
a major win for Texas farmers, ranchers, manufacturers and consumers.

More than 27 years after NAFTA was signed in San Antonio, the Alamo City can
once again celebrate the start of a new chapter in North American trade, this
time through the USMCA.

 









 


 
 

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