NMMA Applauds New NAFTA Deal
On Tuesday, President Donald Trump and Democrats in the U.S. House of Representatives reached an agreement to revamp the North American Free Trade Agreement (NAFTA) with Canada and Mexico – now known as the U.S.-Mexico-Canada Agreement (USMCA) – setting up a full vote in the House as early as next week. In response, NMMA said it welcomed the news, calling the USMCA a critical pact that will protect and preserve the recreational boating industry’s longstanding North American trading partnerships.
"We applaud this week’s announcement that a long-awaited deal on the USMCA has been reached between Congress and the administration,” said Nicole Vasilaros, NMMA senior vice president of government and legal affairs. “Access to Canadian and Mexican markets along with strong North American trading partnerships are crucial to the recreational boating industry and the broader U.S. economy. Collectively, Canada and Mexico account for 40 percent of our industry’s annual boat and engine exports, while representing nearly 20 percent of our boat and engine imports.
"This agreement will undoubtedly allow the boating industry to continue playing a critical role in the growth of the U.S. economy. NMMA is encouraged by the resolve demonstrated by policymakers and administration officials to reach an agreement and we are hopeful that this momentum will result in quick ratification of the agreement in Congress."
The compromise clears the way for Congress to vote on the pact in the coming weeks, with the House acting first. The U.S. Senate is expected to take up the USMCA in early 2020.