USMCA is good for Canada and good for Sherbrooke

SHERBROOKE, QC, Oct. 18, 2018 /CNW/ - To promote the benefits and opportunities of the USMCA, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, visited Sherbrooke, Quebec today, where he toured the Soprema XPS plant. The Minister stressed the importance of USMCA as an engine of growth and prosperity for Quebec. 

The reaching of an agreement-in-principle on the United States-Mexico-Canada Agreement was an important step forward for North American trade, reinforcing strong economic ties between the three countries, restoring certainty in trade, and fostering good, well-paying, jobs for Canadians.

Canada is now the only G7 country to have trade agreements with all G7 countries. When implemented, the USMCA will help Canadians compete globally and prosper in a healthy, integrated North American economy.

The Government of Canada will continue to engage with North American partners to finalize the details of an agreement that benefits all Canadians.

Quotes

"The USMCA secures countless middle class jobs right here in Sherbrooke and across Canada.  This will help the Canadian economy grow, as we look to expand our trade to new markets around the world."

- The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development

"The USMCA maintains free trade across an economically influential, integrated and competitive regional market of 486 million consumers and a combined GDP of US $22 trillion. It addresses modern-day trade issues and supports prosperity for Canadians by ensuring that our businesses, entrepreneurs, workers, ranchers, farmers and fishers will have continued preferential access to our largest market.

- The Honourable Chrystia Freeland, P.C., M.P., Minister of Foreign Affairs

Quick Facts

• North America is home to more than 486 million people.
• When the North American Free Trade Agreement came into effect on January 1, 1994, it created the largest free trade region in the world at that time, generating economic growth and helping to raise the standard of living for the people of all three member countries.
• The United States and Mexico are, respectively, Canada's first- and third-largest merchandise trading partners in the world. Canada is respectively the second- and fifth-largest merchandise trading partner of the United States and Mexico, and the largest export market for the United States.
• In 2017, trilateral trade reached nearly USD $1.1 trillion ? more than a three-fold increase since 1993.
• To reach this renewed trilateral trade understanding, the Prime Minister, Ministers, Parliamentarians, federal officials, Premiers, and industry representatives directly engaged political and business leaders in the United States to advocate on behalf of Canadians.
• Since January 2016, "Team Canada" visited the United States more than 300 times, and made more than 500 individual contacts with American officials, including the President, the Vice-President, 16 United States Cabinet members, more than 310 members of Congress, and 60 governors and lieutenant governors.
• To help guide negotiations, the Government of Canada consulted with Canadians from across the country and from all sectors and backgrounds about trade. Consultations included meetings with the provinces and territories, industry, unions, civil society, think tanks, academics, Indigenous peoples, women, youth, and the general public.

Associated Links

• United States-Mexico-Canada Agreement 
• Canada and United States relations
• North American Free Trade Agreement - Resources

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SOURCE Employment and Social Development Canada