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VI Meets with White House to Discuss USMCA
This week, VI's President & CEO, Ned Monroe, and VP of Government Affairs, Kevin Koonce, met with Tim Pataki, Deputy Assistant to the President and Director, Office of Public Liaison, to discuss the United State-Mexico-Canada trade agreement (USMCA). This trilateral trade agreement is a big win for the U.S. and our North American allies and provides certainty to the 2 million U.S. jobs that rely on exports to Mexico and Canada. Canada and Mexico purchase one-fifth of the total value of US manufactured goods, more than our next 10 trading partners combined. Additionally, according to the US International Trade Commission, during 2018, US PVC resin manufacturers exported 17% to Canada and 8% to Mexico.
The USMCA deal was reached on September 30, 2018, after more than a year of negotiations. The deal must still pass the House and Senate before it can become law. However, several Republicans and a large group of Democrats have expressed concerns about the agreement. Specifically, Democrats have called for changes on issues of labor rights, environmental regulations, and prescription drug prices. Even once the deal passes Congress, it must still be ratified by Canada and Mexico for it to enter force.