The U.S. International Trade Commission (USITC) today released its report assessing the likely impact of the United States-Mexico-Canada Agreement (USMCA) that the President entered into with Mexico and Canada on November 30, 2018.
As requested by the U.S. Trade Representative and required by the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, the USITC’s report, United States-Mexico-Canada Agreement: Likely Impact on the U.S. Economy and Specific Industry Sectors, provides an assessment of the likely impact of the agreement on the U.S. economy as a whole and on specific industry sectors and the interests of U.S. consumers.
In making its assessment, the Commission investigated the impact the agreement would have on the U.S. gross domestic product; exports and imports; aggregate employment and employment opportunities; and the production, employment, and competitive position of industries likely to be significantly affected by the agreement. In addition, as requested, the Commission, in making its assessment, has reviewed available economic literature regarding the agreement, including literature concerning any substantially equivalent proposed agreement. The Commission provides a description of the analytical methods used and conclusions drawn in such literature as well as a discussion of areas of consensus and divergence between the Commission’s analyses and conclusions of other economic assessments reviewed.