WASHINGTON - Senate Finance Committee Chairman Orrin Hatch (R-Utah) today released a statement following the United States Trade Representative’s (USTR) announcement that it has reached an updated NAFTA agreement that includes both Canada and Mexico:
“I am pleased that the Trump administration was able to strike a deal to modernize NAFTA with both Mexico and Canada. NAFTA is a proven success for the United States, supporting more than 2 million American manufacturing jobs and boosting agricultural exports to Canada and Mexico by 350 percent. Maintaining a trilateral North American deal is an important prerequisite to preserving and extending those gains and the Trump administration has achieved that goal. I look forward to reviewing this deal to confirm it meets the high standards of Trade Promotion Authority (TPA)."
Background: NAFTA eliminated most tariffs on products traded between the United States, Canada and Mexico between 1994 and 2008. The free trade zone links 487 million people and totals $21.4 trillion in gross domestic product (GDP).
Source: Ranking Member’s News
