NRF publicly supports new U.S.-Mexico-Canada trade pact
The National Retail Federation (NRF) is formally asking Congress to approve the U.S.-Mexico-Canada Agreement (USMCA).
In a letter signed by David French, senior VP, government relations of NRF, the retail trade association urges the House and Senate to ratify the USMCA. The agreement is designed to modernize the North American Free Trade Agreement (NAFTA), which was ratified in 1994 and eases the exchange of goods and services among the U.S., Mexico and Canada.
While the letter notes that the NRF and its members have supported NAFTA and other free trade agreements, it also cites limitations of NAFTA in areas such as digital trade.
“However, we recognize that due to its age, the agreement does not reflect today’s global value chains or many of the new ways of doing business in the global economy,” states the letter. “That is why we are encouraged by some of the new and updated provisions in USMCA relating to digital trade, cross-border data flows, and customs and trade facilitation. The Internet has changed the way everyone does business, along with ways that consumers purchase goods and interact with retailers.”
The NRF also states that it may consider votes on USMCA and related procedural motions as Opportunity Index Votes for its annual voting scorecard.
“On behalf of America’s retailers, we urge Congress to approve USMCA and support the millions of American jobs that rely on North American trade,” the letter concludes.
In a letter signed by David French, senior VP, government relations of NRF, the retail trade association urges the House and Senate to ratify the USMCA. The agreement is designed to modernize the North American Free Trade Agreement (NAFTA), which was ratified in 1994 and eases the exchange of goods and services among the U.S., Mexico and Canada.
While the letter notes that the NRF and its members have supported NAFTA and other free trade agreements, it also cites limitations of NAFTA in areas such as digital trade.
“However, we recognize that due to its age, the agreement does not reflect today’s global value chains or many of the new ways of doing business in the global economy,” states the letter. “That is why we are encouraged by some of the new and updated provisions in USMCA relating to digital trade, cross-border data flows, and customs and trade facilitation. The Internet has changed the way everyone does business, along with ways that consumers purchase goods and interact with retailers.”
The NRF also states that it may consider votes on USMCA and related procedural motions as Opportunity Index Votes for its annual voting scorecard.
“On behalf of America’s retailers, we urge Congress to approve USMCA and support the millions of American jobs that rely on North American trade,” the letter concludes.