Urging Congress to unite in bipartisan support for the ratification of the United States-Mexico-Canada Agreement.
The resolution outlines the substantial impact of trade on Texas's economy, noting that exports accounted for $315 billion in 2018, with a significant portion directed towards Mexico and Canada. The USMCA is portrayed as a mechanism to cut red tape, making it easier for Texas businesses—particularly small enterprises—to access foreign markets. It also highlights the enhanced market access for various agricultural products under the agreement, which could bolster Texas's competitiveness in these sectors.
Senate Resolution 760 urges the United States Congress to unite in bipartisan support for the ratification of the United States-Mexico-Canada Agreement (USMCA). This resolution is rooted in the recognition that Texas is the leading trade state in the nation, with significant economic interdependencies on both Mexico and Canada. It emphasizes the importance of USMCA in creating a level playing field for American workers and promoting opportunities for trade in services, benefiting a large number of farmers, ranchers, and agribusinesses across Texas.
Overall, the sentiment around Senate Resolution 760 appears largely positive, reflecting a consensus among legislators on the necessity of bipartisan support for the USMCA. The resolution underscores the potential economic ramifications of failing to ratify the agreement, specifically citing job loss estimates that could run as high as 300,000 positions in Texas. This creates a strong impetus for collaboration across party lines in Congress.
While there is strong support outlined in the resolution, one could anticipate points of contention in Congress concerning specific provisions of the USMCA and its implications for various industries. The acknowledgment of the need for trade reform suggests that the landscape is dynamic and subject to debate, particularly regarding how best to protect local jobs and industries while fostering economic growth.