MEMA Statement on Signing of New North American Trade Deal
MEMA has been a leading voice advocating for a positive renegotiation of the North American Free Trade Agreement (NAFTA), and we are pleased that the three parties – United States, Mexico, and Canada – have signed the new agreement.
MEMA believes that the signature by the parties of the USMCA is a positive step forward for all three countries. The success of our industry and the continued employment of hundreds of thousands of American depends on a strong, functioning North American supply chain. MEMA congratulates all the parties in reaching this important juncture.
Yet, in order for USMCA to achieve success, the parties must conclude negotiations to exempt Mexican and Canadian imports from Section 232 tariffs on steel and aluminum. These tariffs are currently costing our industry hundreds of millions of dollars, negating any opportunity to invest in more U.S. manufacturing capacity or workforce development. USMCA will not create the desired opportunities for the United States without addressing steel and aluminum tariffs.