© vladek dreamstime.com Electronics Production | December 12, 2019
IPC: Unanimous approval of USMCA needed
IPC issued a statement this week expressing support of the recently bi-partisan approval of the United States-Mexico-Canada Agreement (USMCA), and a strong desire for legislative approval by Canada, Mexico, and the U.S.
In a press release, Mitchell said, “We thank House Speaker Nancy Pelosi, House Ways and Means Committee Chairman Richard Neal and U.S. Trade Representative Robert Lighthizer for their steadfast efforts to bring this trade agreement to fruition, and we call on the U.S. Congress, Mexican Congress, and Canadian Parliament to act swiftly to pass the agreement’s implementing legislation.” In support of IPC’s position, Mitchell cited the 30% share of manufactured goods, natural resources and energy exports to Mexico that electronics take up, and a 20% share of such products to Canada, making the USMCA pivotal to the growth of the domestic electronics manufacturing industry. Mitchell continued, “We are pleased that leaders in the U.S. Congress and the Trump administration, as well as the governments of Canada and Mexico and key stakeholders, have reached consensus on USMCA. The agreement is a positive step for the electronics manufacturing industry and millions of U.S. workers and consumers. By prioritizing a modernized and strengthened trade relationship between the U.S., Canada and Mexico, all three nations can strengthen the region's supply chains, expand trade opportunities with partners abroad, and reinforce North America as a bastion of strength and stability in an uncertain world. Earlier this year, IPC published a study that cited the 2017 value of U.S. electronics trade with Canada and Mexico at USD 155.5 billion, with “trade in electronic systems and components being especially important to the North American automobile industry.” The study also stated that Mexico imports 34% of U.S. PCBs, which is more than the next four largest markets combined.