Trade Commission Finds that USMCA Would Grow the Economy, Add Jobs

Posted on 04/18/2019 3:07 PM

The U.S.-Mexico-Canada Agreement (USMCA) would add 0.35 percentage points to U.S. GDP, boost payrolls by 176,000 and increase U.S. exports, according to an economic assessment of the deal conducted by the U.S. International Trade Commission. But on the flip side, the report also determined that while auto industry employment would climb by 30,000 jobs for parts and engine production, U.S. vehicle production and consumption would likely slide by 140,000 units. These assessments are based on the sixth year of USMCA’s entry into force compared with a North American Free Trade Agreement baseline. 

One big winner under USMCA would be the U.S. dairy industry, according to the report. It calls for a $226.8 million boost in U.S. dairy production under the agreement, including $314.5 million in exports to Canada and Mexico.

Here's a link to the full 379-page report

 

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