Lisa Malloy: USMCA REFLECTS THE MODERNIZING TRADE LANDSCAPE
By Lisa Malloy
June 27, 2019
Last week, Mexico became the first country to ratify the new North American trade deal, the United States-Mexico-Canada Agreement (USMCA). The agreement modernizes a 25-year-old agreement in an environment where so much has changed about how and what we trade with two important partners.
USMCA has the strongest disciplines on digital trade of any international agreement, which will expand trade in innovative technology products and services where U.S. companies have a competitive advantage. For example, USMCA includes key provisions on e-commerce, cross-border data flows, encryption, IP protection and enforcement, access to government generated public data for AI and other purposes, and collaboration on cybersecurity challenges–all of which are needed for a robust digital economy. It’s important for the U.S. to set the standards that reflect global best practices in innovation and technology policy. Intel supports the USMCA and believes it puts down a marker for future trade agreements with nations around the globe.
The USMCA addresses a wide spectrum of reforms that reflect our emerging global digital economy. It promotes open markets and will likely have a positive impact on broad industry sectors within the U.S. economy. Comprehensive and durable trade agreements create new markets and ensure that Intel, our customers and our suppliers have continued access to existing markets.
At Intel, we employ more than 100,000 people worldwide. More than half of those employees, and the majority of our advanced manufacturing and R&D, are in the U.S., while more than three quarters of our revenue is generated abroad. Our business, in addition to thousands of others, will only succeed in a robust trade environment.
The USMCA offers an important opportunity to strengthen ties with our neighbors and set a precedent for all future trade agreements in this modern, global economy. We will continue to advocate for free and fair trade and the liberalization of foreign markets to create new opportunities for businesses and consumers.