WASHINGTON, D.C. – The United States Hispanic Chamber of Commerce (USHCC) supports the United States-Mexico-Canada Agreement (USMCA), the trade deal reached by negotiators Sunday, September 30th. A trilateral agreement is essential to the continued economic prosperity of the region.
Since the North American Free Trade Agreement (NAFTA) was established in 1994, trade between the U.S., Mexico, and Canada more than tripled. Today, roughly 14 million U.S. jobs depend on NAFTA, and U.S. companies have built supply chains that span North America. Before NAFTA was first signed, it was difficult for small and mid-sized businesses to access international markets. The USHCC is reassured that the trilateral relationship will stay in place under USMCA.
“Our increasingly globalized world is a growing opportunity for American businesses,” said Ramiro Cavazos, USHCC President & CEO. “This trade agreement will help American business owners access new international markets and remain globally competitive. This is especially true for Hispanic-American small business owners, who sell more products and services internationally than non-minority small business owners. The USHCC stands ready to support this important trade deal with the three respective governments.”
The USHCC actively promotes the economic growth, development, and interests of more than 4.37 million Hispanic-owned businesses, that combined, contribute over $700 billion to the American economy every year. It also advocates on behalf of 260 major American corporations and serves as the umbrella organization for more than 200 local chambers and business associations nationwide. For more information, please visit ushcc.com. Follow us on Twitter @USHCC.