Executive Session
Floor Speech
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Mr. BOOZMAN. Mr. President, I rise to discuss the need to pass the United States-Mexico-Canada Agreement.
It is frustrating that we have to continue to speak about this issue. We have been so close for a long time now, but the lack of action on the part of the House leadership continues to unnecessarily delay its ratification.
Our neighbors to the north and south are our natural allies and trading partners; yet our trade policy with them has not been updated in 25 years. The President and his team have worked very hard to get Canada and Mexico to the negotiating table to modernize our trade agreement in a mutually beneficial manner. That hard work has paid off in the form of the USMCA. It is ready for ratification, and the Senate is eager to get that done.
Unfortunately, we are at the mercy of the House, which must act first. The House leadership's refusal to move this trade deal is preventing additional job creation in our country, and it is sending the wrong signal to our trading partners across the globe. We ought to be spurring economic activity by striking fair trade agreements globally, not sitting on our hands and refusing to approve an agreement between two of our top trading partners.
A fair and mutually beneficial trade agreement with our neighbors to the north and south is very important to my home State of Arkansas. Canada and Mexico are No. 1 and No. 2 on the list of the top 10 destinations for Arkansas' exports. Arkansas is one of a handful of States that in recent years has consistently exported more than what it has imported from Canada and Mexico.
The World Trade Center Arkansas, which has played a valuable role in connecting businesses in my State with international partners for over a decade, recently released a report that summarizes trade and jobs data for the Natural State.
The center's report underscores the value trade brings to my State's economy and reinforces the fact that the path to a more prosperous, long-term outlook for Arkansas is through opening additional markets for our farmers, manufacturers, and small businesses. The report notes that, as of September 2019, trade in Arkansas supported nearly 350,000 jobs. This represents approximately 26 percent of the State's total employed labor force. It points to a direct correlation between job numbers and trade, documenting that trade-related jobs in the State have grown six times faster than total employment over the past few years.
More importantly, for our purposes here today, the report underscores just how crucial Canada and Mexico are for Arkansas' economy. The Natural State's exports to Canada amounted to $1.2 billion last year. Our exports to Mexico totaled $870 million in that same time span. Combined, these two countries account for a third of Arkansas' total exports. Nearly 69,000 jobs in my State are dependent on trade with Canada, and another 41,000 are tied to trade with Mexico.
Melvin Torres, the center's director of Western Hemisphere and European Trade, praised Arkansas' effective partnership with both countries for creating this ``symbiotic and successful relationship.'' That relationship will only grow with the ratification of the USMCA.
Canada and Mexico aren't just important markets for my State. Each of our States stands to gain with the ratification of the USMCA. This landmark trade deal will create over 175,000 jobs, which will help to strengthen our economy and America's middle class. This overdue modernization of NAFTA will benefit workers in a wide array of industries. Manufacturing, tech, and more stand to gain from the USMCA. It will add much needed certainty for farmers and ranchers, who currently need every market they can get. Rural America is struggling right now, and approving this agreement will provide a shot in the arm for the rural economy.
The ratification of the USMCA, along with the recent deals that have been struck with South Korea and Japan, will show the rest of the world that the U.S. is open for business. Proving that the U.S. is negotiating in good faith to reach mutually beneficial outcomes for all parties that are involved could really move the needle in other ongoing trade standoffs.
The House leadership needs to get on the stick. The USMCA is too important for our Nation's economic future for it to be sitting in limbo while House Democrats focus on partisan goals.
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