WASHINGTON— U.S. Senator John Boozman (R-AR) highlighted data from a new report produced by the World Trade Center Arkansas to make the case that ratification of the U.S.-Mexico-Canada Agreement (USMCA) needs to happen now.
During a speech on the Senate floor, Boozman argued that the U.S. House of Representatives, which must act first on ratification, is unnecessarily delaying the process and stifling economic growth as a result.
“House Leadership’s refusal to move this trade deal is preventing additional job creation in our country and is sending the wrong signal to our trading partners across the globe. We ought to be spurring economic activity by striking fair trade agreements globally, not sitting on our hands and refusing to approve an agreement between two of our top trading partners,” Boozman said.
Boozman cited the findings of a recent report from the World Trade Center Arkansas, entitled Arkansas International Trade and Jobs Data Summary 2019, to make the case for how important the Canadian and Mexican markets are for Arkansas exporters.
“The Arkansas World Trade Center—which has played a valuable role in connecting businesses in my state with international partners for over a decade—recently released a report summarizing trade and jobs data for the Natural State. The report underscores just how crucial Canada and Mexico are for Arkansas’s economy. Natural State exports to Canada amounted to $1.2 billion last year. Our exports to Mexico totaled $870 million in that same time span. Combined, these two countries account for a third of Arkansas’s total exports,” Boozman said.