The manufacturing industry can grow through the United States, Mexico, Canada Treaty (USMCA) since it can act as a bloc to compete with other countries.
Francisco Cervantes Díaz, President of the Confederation of Industrial Chambers (CONCAMIN), Jay Timmons, President of the National Association of Manufacturers (NAM) and Dennis Darby, President of the Canadian Manufacturers & Exporters agreed that this new agreement will contribute to strengthen manufacturing in the next decades with the panel “USMCA, challenges and opportunities” as part of the conference program of the Annual Meeting of Industrialists (RAI) 2020.
According to Francisco Cervantes Díaz, before the coronavirus pandemic, Mexico was the United States’ main partner, above China and Japan, so the country is looking to reclaim that position.
In addition, he noted that the manufacturing industry is making adjustments to comply with all the new rules indicated in the sections of the USMCA, such as labor aspects, as well as the rules of origin that apply particularly to the automotive sector.
Similarly, he explained that the three signatory countries are committed to promoting clean energy. In the textile sector, supplies must be regional, thus increasing the attraction of domestic suppliers to other countries.
Moreover, Jay Timmons said that this treaty presents relevant changes for manufacturers, so they should be supported to ensure that supply chains are not affected, and market access is improved.
In addition, he stressed that manufacturers depend on access to certain markets, so the USMCA is a partnership worth billions of dollars in goods, products and services. For this reason, he sees it as a powerful force.
Likewise, he mentioned that ensuring access to markets creates certainty for leading manufacturers, who will take that into account when investing.
Additionally, Dennis Darby explained that both Mexico’s and Canada’s trade depends largely on the United States, so they must work together as a three-country bloc to compete with other countries.
Considering the above, he suggested the creation of committees in charge of regulating harmonization among the three nations, with the objective of having similar rules and thus making manufacturing companies perform well.
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