Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement today about the announced United States-Mexico-Canada Agreement (USMCA).
“The United States-Mexico-Canada Agreement (USMCA) is a step in the right direction,” said Dennis Slater, President of AEM. “Trade agreements provide better access to customers across the globe and help us add to the 1.3 million jobs our industry supports in the United States. We urge this administration to continue working closely with the Canadian and Mexican governments to enact policies that promote continued economic growth for our industry.”
Nearly 30 percent of all equipment produced in the U.S. is intended for export and Canada and Mexico are the first and second-largest export markets for both U.S. construction and agricultural equipment. Since the creation of NAFTA two decades ago, the equipment manufacturing industry has benefited greatly from duty-free access to our industry’s largest two export markets, Canada and Mexico.
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 1.3 million jobs and contributes roughly $159 billion to the economy every year.