A recently released Washington Council on International Trade (WCIT) analysis concludes Washington state companies and workers gain from the newly signed US-Mexico-Canada Agreement (USMCA). Canada and Mexico are the U.S.’ second and third largest trading partners, and the two counties have been leading markets for Washington state goods exported including in the key areas of agriculture, dairy, digital trade and intellectual property. Key 2017 Washington statistics noted in the report include:
- $9.8 billion in goods were exported to Canada and Mexico, representing 12.8% of all Washington state goods exports
- $1.6 billion in services were exported to Canada and $963 million of services to Mexico, representing 10% of all Washington state services exports
- More than 330,000 jobs in Washington state are tied to trade with Canada and Mexico
While the USMCA has been signed by U.S., Mexico and Canada leaders, ratification by Congress is still needed. Learn more here: wcit.org/wp-content/uploads/2018/12/WCIT-USMCA-Trade-Breifing.pdf.