USMCA trade deal set to change the U.S. economy
A new trade agreement between the U.S., Canada, and Mexico, USMCA, goes into effect July 1.
The USMCA states it's creating a more level playing field for American workers, including improved rules of origin for automobiles, trucks, other products, and disciplines on currency manipulation.
Governor Kristi Noem claims this will benefit South Dakota farmers, ranchers, and business owners, saying "The USMCA is a major win for South Dakota producers, and I am grateful that it is finally taking effect.This agreement rebalances and modernizes the old rules of the road into a 21st Century, high-standard trade deal that better serves the interests of South Dakota farmers, ranchers, and businesspeople. It couldn't come at a more crucial time as our producers look to recover from COVID-19."
The agreement's supporters say that it is supposed to create a more balanced, reciprocal trade to grow the North American economy.
Senator John Thune also weighed in, saying "I look forward to seeing our hard-working producers reap the benefits of USMCA, including by having access to expanded markets and some much-needed certainty."