NEWS RELEASE – EMBASSY OF CANADA LAUNCHES VIDEO HIGHLIGHTING IMPORTANCE OF NAFTA TO US ECONOMY
The United States and Canada enjoy the longest and most peaceful relationship of any two countries in the world, grounded in mutual security and prosperity.
Our respective commitment to sustainable, long-term prosperity for our citizens helped spur the creation of NAFTA over 25 years ago. Today, the United States, Canada and Mexico represent a $20.7 trillion market, with 478 million consumers. And between the U.S. and Canada, there is more than $100 million in trade of goods and services happening every hour of every day.
NAFTA has made it easier for Canada and the United States to do business, and the results speak for themselves: bilateral trade has doubled, Canada is the US’s largest customer, and today Canada buys more goods from the United States than China, Japan and the UK combined. Moreover, Canada and Mexico held the top two export destination spots for 26 states in 2017, including 8 of the 10 biggest state economies.
All of this growth has resulted in the creation of more than 33 million middle-class jobs in the US since NAFTA’s inception.
There has been much talk recently of the future of NAFTA, and where the current renegotiations will end up. One thing is certain: without NAFTA, American jobs would be at risk, and the prices for everyday items, from groceries to appliances to cars, would likely rise. Everyone would lose.
Today, Canada’s Embassy in Washington, DC is today launching a video, NAFTA Works for the American Economy, that talks about why NAFTA is integral to the continued growth of the American economy, and those of Canada and Mexico, and why it’s so important that NAFTA be modernized so that its benefits are more widely shared.
“No one wants the United States to succeed more than Canada. When the U.S. succeeds, so does Canada, and NAFTA is a crucial part of that success. It has helped create a trillion dollar trade and investment relationship that has allowed our two countries to prosper, making for the most successful, free, fair and balanced relationship in the world. Today’s launch of NAFTA Works for the American Economy showcases just how critical NAFTA is for American workers, and how its modernization can help the US succeed for another 25 years and beyond.”— David MacNaughton, Ambassador.
Embassy of Canada