USMCA is Good for Canada and Good for Sudbury

OTTAWA, Oct. 30, 2018 /CNW/ - To promote the benefits and opportunities of the United States?Mexico?Canada Agreement (USMCA), the Honourable Amarjeet Sohi, Minister of Natural Resources, visited Sudbury, Ontario, today where he delivered remarks at Science North. The Minister spoke about the importance of USMCA as an engine of growth and prosperity for Ontario and for Canada. 

Reaching an agreement-in-principle on the USMCA 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

"Trade remains crucial to the mines and minerals sector, to jobs and to Sudbury. That's why the USMCA is so important. The agreement means more opportunities for Canadian businesses and good, middle-class jobs for Canadian workers and their families. When fully implemented, it will help Canadians compete globally and prosper in a healthy, integrated North American economy."

- The Honourable Amarjeet Sohi, Minister of Natural Resources

"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, Minister of Foreign Affairs

Quick Facts

• Over half of Canada's trade in mineral products is with its USMCA partners.
• Canada trades over $150 million worth of mineral products with its USMCA partners each day.
• Canada's mineral products account for 14 percent of its total merchandise exports to its USMCA partners.
• 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 threefold 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 Natural Resources Canada