USMCA Now in EffectJuly 1, 2020
Today, the U.S.-Mexico-Canada Trade Agreement (USMCA) goes into full effect with many promising provisions aimed directly at bolstering American small- and mid-sized businesses (SMEs). The National Small Business Association was an outspoken proponent of the USMCA which was a key priority for NSBA’s members.
Below is a statement from NSBA President and CEO Todd McCracken:
“The USMCA reflects the changing global marketplace and codifies language to address the unique challenges faced by SMEs when it comes to doing business internationally. This new trade law will promote mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth.
“NSBA’s small-business members will have greater opportunity to grow their global operations under the USMCA.. Canada and Mexico are the top two export destinations for U.S. SMEs, so when an American small business starts exporting, it’s almost always to Canada or Mexico.
“For the first time in a U.S. free trade agreement, the USMCA includes a stand-alone Chapter on SMEs. This chapter of the USMCA which will improve information-sharing, create a committee on SME issues and develops a framework for ongoing stakeholder input.
“This new trade agreement goes into effect at a time when, absent many bright spots in our economy, business owners are looking outside the box for new and creative opportunities, and the USMCA can make international opportunities a reality for many small businesses.”
Celebrating more than 80 years in operation, NSBA is a member-driven nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization. Please visit www.nsba.biz.