United States-Mexico-Canada Agreement a Step in the Right Direction, but More Time Is Needed To Assess Potential Impact on U.S. Chemical Manufacturing
The American Chemistry Council (ACC) issued the following statement in response to the announcement of a “United States-Mexico-Canada Agreement” (USMCA), which would replace the current North American Free Trade Agreement (NAFTA):
“ACC commends negotiators from the U.S., Canada, and Mexico for agreeing to update a trade pact that has historically leveraged chemical manufacturing and the highly-integrated, North American supply chain to reduce costs, boost U.S. exports, and inject new growth and job-creation throughout the region.
“The pact appears to include several enhancements long sought-after by the U.S. chemical sector. For example, ACC strongly supports the inclusion of the final Sectoral Annex for Chemical Substances, which embraces the principles the North American chemical industry jointly recommended to enhance Regulatory Cooperation. ACC and its members need more time to review the provisions in greater detail so that we can assess the impact that the agreement would have on our industry.
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