The National Retail Federation urged Congress to take action after its annual August recess to approve the U.S.-Mexico-Canada Agreement, which would modernize trade between the three countries and replace the North American Free Trade Agreement.
“This agreement provides significant updates to the North American Free Trade Agreement, which has benefited U.S. retailers, workers and consumers for the past two decades,” NRF Senior Vice President for Government Relations David French said in a letter sent to Congress. “Ratifying USMCA is key to ensuring continued growth in the North American market.”
The 25-year-old NAFTA lacks provisions relating to digital trade.
By ratifying the USMCA, Congress will “help ensure that the new agreement reflects today’s global economy,” French said. “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.”
In addition to the letter sent to Congress, NRF President and CEO Matthew Shay spoke at a U.S. Chamber of Commerce press conference July 25 alongside leaders from a wide range of industry groups to urge Congress to approve USMCA and provide certainty for businesses and consumers.