AUSTIN (1080 KRLD) - Texas Governor Greg Abbott Wednesday joined President Donald Trump for the United States-Mexico-Canada Agreement (USMCA) ceremonial bill signing in Washington D.C.
This trade agreement between the United States, Mexico and Canada modernizes the 25-year-old North American Free Trade Agreement.
It is estimated that the USMCA will have a positive impact of $17.6 billion on Texas' annual gross product and create 164,700 new jobs in the state, according to December 2019 projections from Perryman Group. The USMCA also allows Texas increased access to trade with Mexico and Canada, the state's two largest export partners.
"Today's signing of the USMCA trade agreement is a win for the Lone Star State and all of America," said Governor Abbott. "As the number one exporter in the nation, a strong relationship with our trade partners is vital to Texas' booming economy and its unprecedented growth. Whether it be agriculture, technology, or energy industries, the USMCA will promote free enterprise and help create even more jobs in the Lone Star State. I thank the Trump administration and the Texas Congressional Delegation for their hard work and persistence to pass this monumental agreement."
Texas Senator Ted Cruz also released the following statement regarding the trade agreement:
“As a fierce competitor on the international stage, no state in the union has more invested in trade with our neighbors than Texas. This trade agreement puts American jobs first, including the 2.2 million jobs in Texas directly dependent on international trade.”
The Texas Democratic Party’s Brittany Switzer also celebrated the new trade deal:
“The USMCA trade agreement attained by House Democrats is a substantial improvement over the original deal that was proposed by the Trump administration. Thanks to Democrats and our partners in labor, the trade deal is fair for Texas workers and promotes new standards we can build upon to reflect our economy, like enhanced worker protections, improved access to affordable prescription drugs, and environmental protections. This trade deal is a victory for Texas, despite Trump and Texas Republicans’ best efforts to ruin this historic agreement.”