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Thomas Donohue, CEO of the American Chamber of Commerce, said Thursday that ratifying and implementing the US-Mexican Agreement (USMCA) would greatly boost the U.S. economy and help avoid recession.
Donohue said that advancing the US-Mexico-Canada agreement would also help pave the way for trade agreements between the United States and China, the European Union, Japan and other countries. The American Chamber of Commerce is taking the lead in promoting the adoption of the agreement.
"That's what keeps us from going into recession." Donohue told Reuters after a press conference with other trade associations to promote Congressional ratification of the Mexican-American agreement. The American-Mexican Agreement was used to replace the North American Free Trade Agreement (NAFTA).
Given other drags facing the U.S. economy, the timing of approval is crucial, he said.
Nearly 600 trade and business organizations sent letters urging parliamentarians to adopt the Mexican-American Agreement as soon as possible.


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