The San Antonio Hispanic Chamber of Commerce (SAHCC) unequivocally supports the passage of an updated NAFTA agreement, now known as the United States-Mexico-Canada Agreement, or USMCA. The announcement of Canada joining the recently crafted accord between Mexico and the United States will benefit our community and South Texas. It will continue to promote free trade and globalization, two prime tools that bolster economic growth.
Moreover, it is important to note the inclusion of a “Small Business Chapter” present in this agreement. This pioneering concept is a first in this or any other trade deal. Small businesses are the backbone of our economies. Support and promotion of these type of enterprises are key to the future success of our three nations.
“The San Antonio Hispanic Chamber of Commerce supports Congressional ratification of this agreement,” said Rebecca Q. Cedillo, Interim President and CEO of the San Antonio Hispanic Chamber of Commerce. “We believe the USMCA will forge ahead as a catalyst for trade, as well as skill and talent expansion including tri-national partnerships, building upon the NAFTA principles established in the early 1990s.”
According to Mexico’s Ministry of the Economy, trade between Texas and Mexico surpassed $187 billion in 2017. Trade and investment within the same time period between Canada and Texas surpassed $41 billion, according to figures from the Canadian government.