WASHINGTON, DC – Thomas J. Gibson, president and CEO of the American Iron and Steel Institute (AISI), issued the following statement in reaction to the formal signing today of the United States-Mexico-Canada Agreement (USMCA). President Donald Trump, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Peña Nieto signed agreement this morning at the G-20 in Buenos Aires:
“We appreciate the administration’s hard work to reach this trade agreement between the U.S., Canada and Mexico. The NAFTA has provided significant benefits for the American steel industry by promoting the development of manufacturing supply chains in North America, especially with key customer groups like the automotive industry. The new agreement builds on this success by establishing new rules of origin that will further incentivize the use of North American steel in the manufacturing of automobiles and other steel-intensive goods in North America. The agreement also improves on the original NAFTA by creating new rules to address currency manipulation and state-owned enterprises, and by promoting increased cooperation and information sharing between the three North American governments to address circumvention and evasion of our trade and customs laws. We believe these enhancements provide valuable improvements to the text of the original NAFTA that will help keep our manufacturing supply chains strong throughout North America.”
Kevin Dempsey, senior vice president of public policy at AISI, also recently testified before the International Trade Commission on the impacts of the USMCA. Testimony can be found here.
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 21 member companies, including integrated and electric furnace steelmakers, and approximately 120 associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel).