Rep. Estes Releases Statement on USMCA Impact Summary
WASHINGTON―Congressman Ron Estes (R-Kansas), a member of the USMCA whip team, released the following statement after the Office of the United States Trade Representative released an analysis of the estimated impact of the United States-Mexico-Canada Agreement (USMCA):
“The ITC report underscores the significant importance of getting the USMCA across the finish line. As Canada and Mexico are Kansas’ top export partners, this deal is a win for Kansas farmers, ranchers and manufacturers,” said Rep. Estes. “It will also support nearly 200,000 American jobs and increase our GDP by nearly $70 billion. As a member of the USMCA whip team, I look forward to working with President Trump and urging my colleagues to swiftly pass this free and fair trade agreement.”
Among its’ findings, the report states:
The Commission’s model estimates that USMCA would raise U.S. real GDP by $68.2 billion (0.35 percent) and U.S. employment by 176,000 jobs (0.12 percent). The model estimates that USMCA would likely have a positive impact on U.S. trade, both with USMCA partners and with the rest of the world. U.S. exports to Canada and Mexico would increase by $19.1 billion (5.9 percent) and $14.2 billion (6.7 percent), respectively. U.S. imports from Canada and Mexico would increase by $19.1 billion (4.8 percent) and $12.4 billion (3.8 percent), respectively. The model estimates that the agreement would likely have a positive impact on all broad industry sectors within the U.S. economy. Manufacturing would experience the largest percentage gains in output, exports, wages, and employment, while in absolute terms, services would experience the largest gains in output and employment.
Ron Estes is a 5th generation Kansan and represents Kansas’ 4th Congressional District in the U.S. House of Representatives. He serves on the House Committee on Ways and Means.