U.S. competitiveness can be enhanced via updates to 1994 trade agreement
ROSSLYN, Va.—The National Electrical Manufacturers Association (NEMA) welcomed the Administration's May 18 formal notification to Congress of intent to enter into negotiations with Canada and Mexico to revise and update the North American Free Trade Agreement (NAFTA). NEMA is consulting with Member companies to identify ways in which NAFTA, which took effect in 1994, can be enhanced and updated to better promote economic growth and global competitiveness of the U.S. electrical manufacturing and medical imaging industries.
"NAFTA can and should be updated to better support current and future manufacturing and trade," said NEMA President and CEO Kevin J. Cosgriff. "The Agreement has helped many of our companies build strong relationships in Canada and Mexico, serve new customers, and grow their businesses, but digital trade and other innovations that did not exist in the early 1990s now should be included in a modernized NAFTA. We look forward to working with U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross to achieve positive results in the negotiations for U.S. manufacturers."
By sending the formal notification letter to Congress on May 18, USTR Lighthizer initiated a process specified in the 2015 Trade Promotion Authority law that begins with a 90-day review period with Congress prior the start of formal negotiations with Canada and Mexico.
The National Electrical Manufacturers Association (NEMA) represents nearly 325 electrical equipment and medical imaging manufacturers that make safe, reliable, and efficient products and systems. Our combined industries account for 370,000 American jobs in more than 6,100 facilities covering every state. These industries produce $124 billion in shipments and $42 billion in exports of electrical equipment and medical imaging technologies per year.