Federal Spotlight: USMCA is In Effect
July 2, 2020
The United States-Mexico-Canada Agreement (USMCA), the trade deal replacing NAFTA, went into full effect yesterday. The trade accord is something ABI and the business community at large lobbied our Congressional delegation on intensely, as Mexico and Canada are Iowa’s top two trading partners. The deal makes several changes including strengthening the rules of origin for the production of vehicles, adding stronger patent and intellectual property protections, lowering tariffs on a number products and more. ABI appreciates all members of our Congressional delegation for voting in favor of this agreement, which provides more certainty and market access for businesses.