On the recordOctober 24, 2019
Madam President, we are rapidly approaching the 1-year mark since President Trump and the Prime Minister of Canada and the President of Mexico signed a new trade agreement to strengthen our economies. The U.S.-Mexico-Canada Agreement, or USMCA, will replace NAFTA, the North American Free Trade Agreement, or NAFTA, and continue to guide trade with our northern and southern neighbors in the future. It is estimated by the U.S. Chamber of Commerce that the number of jobs in the United States that have been created directly as a result of trade with Mexico ranges around the 5 million figure, with another 8 million from binational with Canada, so this is no small matter. Since NAFTA was enacted in 1994, a lot has changed. The way we communicate and the way we shop and even go about our daily lives rely heavily on technology that didn't exist 25 years ago. Make no mistake--NAFTA has been a huge benefit to our country, and Texas has arguably benefited more than any other State. In 2018, Texas exported nearly $110 billion in goods to Mexico, and we imported $107 billion worth of goods from Mexico. When you consider actions being taken by China to counter our interests all over the world, our reliance on North American partners has become increasingly important. That only underscores the need to ratify the USMCA and strengthen our trading relationship to ensure we are not left behind as the global economy continues to evolve. The USMCA is the most significant update to U.S.…
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