Montpelier, Vt. – Governor Phil Scott today issued the following statement on the United States-Mexico-Canada Agreement (USMCA):
“I’m very pleased to see leaders in the U.S., Mexico and Canada come to an initial agreement that modernizes the free trade agreement governing these three countries while keeping our trilateral partnership intact.
“In the Northeastern U.S., the relationship with our neighbors in Canada is a vital part of our economy and culture. Since 1993, Canada has been our fifth-largest source of foreign capital. We’ve seen a boom in travel and tourism with Canadians making 21 million trips to the U.S. and spending $24 billion every year. Additionally, we build things together. About half of all trade with Canada takes place between related companies, building complex, integrated supply chains in aerospace, information technology, construction materials, food systems and more.
“These relationships and the trade between countries is essential to Vermont’s economy, which is why I’ve advocated for a continued, though modernized, agreement that includes Canada. So, I appreciate the work done to reach this new agreement.
“While we work to learn more and fully understand the impact for Vermonters and Vermont businesses, I’m optimistic the updated agreement will have a positive impact in Vermont, particularly for our dairy industry. I look forward to working with my team to further analyze this latest agreement and the impacts for our state.
“This agreement has a way to go before being implemented, but I believe this is an encouraging step forward. At the state level, I will continue to work to expand and strengthen Vermont’s relationship with our Canadian neighbors as we work together to advance our shared economic interests and common values.”