RELEASE: Passage of USMCA will Provide Much-Needed Stability in Energy and Trade
FOR IMMEDIATE RELEASE
Contact: Annie Aleman
Email: aaleman@americansecurityproject.org
Phone: 202-347-3115
Washington, D.C., December 10, 2019 – The American Security Project (ASP) is a longtime supporter of free and open trade across North America. Canada and Mexico are two of America’s closest allies and closest trading partners. Passage of the US-Mexico-Canada Agreement (USMCA) will confirm that they remain that way.
The USMCA will ensure that the benefits of the North American Free Trade Agreement (NAFTA) continue, while the drawbacks are fixed. The new agreement will continue to strengthen our relationships with our close North American partners and protect our national security.
ASP COO, Andrew Holland stated, “In 1994, when NAFTA was first passed, Mexico and the United States shared a border, but little else. NAFTA brought them together. Now, USMCA will provide a much-needed face lift to the relationship, while showing bipartisan support in the United States.”
One of the primary reasons to promote passage of the USMCA is to bolster North American energy security by unifying the continental energy market. “The U.S. is a net importer of natural gas from Canada, although at declining rates, and the U.S. is a net exporter of natural gas to Mexico. The U.S. produces 90% of the natural gas it uses, importing most (97%) of the rest from Canada. This market integration shows that energy flows are irreversibly open between countries, with cross-border trade required for energy security,” said Holland. “Passing a free trade agreement that protects energy is essential to continued prosperity.”
Clean energy, too, will be supported by USMCA, as it encourages cross border trade and investment in clean electricity and transmission.
Earlier this year, ASP hosted Congressman Cuellar (D-TX) to provide remarks on the future of USMCA, followed by a panel of experts. One of the larger themes from the event was that increased trade is an important way to bring our allies into closer alignment on unrelated issues.
ASP will continue to support this agreement as it moves through Congress and reaches a final vote.
Resources:
Fact Sheet – NAFTA: Building North American Energy Security
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