70 State Bio and Economic Development Groups Applaud the United States-Mexico-Canada Agreement (USMCA)
Dec. 20, 2018
MICHIGAN AND TEXAS – Today, Michigan Biosciences Industry Association (MichBio), Texas Healthcare and Bioscience Institute (THBI) and 70 groups dedicated to economic growth and progress sent a letter to United States Trade Representative Robert Lighthizer in support of the recently signed United States-Mexico-Canada Agreement (USMCA). The historic deal updates the North American Free Trade Agreement (NAFTA) for the 21st century to the benefit of American manufacturers and the broader US economy.
The agreement sets an important new standard for future trade negotiations through the establishment of vital intellectual property (IP) protections that promote American innovation, while driving investment, exports and bioscience job creation. Biopharmaceutical companies have, for decades, represented American innovation and ingenuity at its best, providing treatments, cures and careers for millions.
“The state of Michigan, and communities around the country have developed important partnerships with the biopharmaceutical industry to advance economic progress and empower families,” said MichBio President and CEO Dr. Stephen Rapundalo. “Through the USMCA, the biopharmaceutical industry’s already significant economic footprint, including support for nearly 5 million total jobs and over 1,000 plants around the U.S, will continue to grow.”
“For patients across the country and the globe, R&D investments from America’s biopharmaceutical developers and manufacturers provide hope,” said THBI President and CEO Tom Kowalski. “The USMCA will help foster future innovations in medicine, allowing researchers to tackle conditions like Alzheimer’s disease, cardiovascular disease, and other illnesses that have no current treatment options.”
The growing list of partners applaud the Administration for this achievement and call on Congress to quickly approve the USMCA, to spur vital innovation and economic growth.