Saturday, June 17, 2017

Sens. Ted Cruz and John Cornyn: Let's Modernize NAFTA

Senator John Cornyn, the senior U.S. Senator from Texas, and Senator Ted Cruz, the state’s junior Senator, recently penned an op-ed calling for the modernization of the North American Free Trade Agreement.
According to the two, the United States could learn a thing or two from Texas, a state that’s already familiar with the modernization.
“When the North American Free Trade Agreement was enacted 23 years ago, an economic surge in Texas ensued thanks, in part, to a significant boost in trade with our neighbor to the south,” the op-ed reads. “Today, more than 380,000 Texas jobs hinge on free trade with Mexico. Agreements like NAFTA have strengthened our state’s economy as a whole, too. More than a third of total goods, worth $92 billion, are exported from Texas to Mexico annually.”
“But as our economy has expanded, it has matured and diversified. In 1994, when NAFTA went into effect, floppy disks were the norm and streaming videos over the internet was fantasy. The past 20 years has introduced the internet into our everyday lives, which in turn has developed industries like information technology and digital trade.”
“It’s time NAFTA is updated to reflect the modern economy that characterizes Texas and the nation today. The Trump Administration recently announced its intent to renegotiate the agreement, and fortunately our experience means we play a unique and critical role in this process. As Congress provides input during the 90-day window before formal negotiations, we must take great care to advocate for smart policies that drive growth here at home, look out for hardworking American workers, consumers and businesses small and large, and enhance our partnerships abroad. A new NAFTA must also improve – not diminish – the trade relationship that the U.S., Mexico and Canada share.”
Read the rest of the story HERE.

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