WASHINGTON – The National Retail Federation today urged Congress to take action after its annual August recess to approve the U.S.-Mexico-Canada Agreement, which would modernize trade between the three countries and replace the landmark North American Free Trade Agreement.
“This agreement provides significant updates to the North American Free Trade Agreement, which has benefitted U.S. retailers, workers and consumers for the past two decades,” NRF Senior Vice President for Government Relations David French said in a letter sent to Congress. “Ratifying USMCA is key to ensuring continued growth in the North American market.”
Since NAFTA took effect 25 years ago, e-commerce has changed how businesses operate and how consumers purchase goods, but the agreement still lacks provisions relating to digital trade. By ratifying the USMCA, Congress will “help ensure that the new agreement reflects today’s global economy,” French said. “We are encouraged by some of the new and updated provisions in USMCA relating to digital trade, cross-border data flows, and customs and trade facilitation.”
In addition to the letter sent to Congress, NRF President and CEO Matthew Shay spoke at a U.S. Chamber of Commerce press conference today alongside leaders from a wide range of industry groups to urge Congress to approve USMCA and provide certainty for businesses and consumers. Watch the press conference here.
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $2.6 trillion to annual GDP and supporting one in four U.S. jobs — 42 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.