The Port of Corpus Christi commends President Donald J. Trump and the Texas Congressional delegation, led by Congressman Kevin Brady (R-TX8) and Congressman Henry Cuellar (D-TX28), Congressman Filemon Vela (D-TX34), and Congressman Vicente Gonzalez (D-TX15), with support from Congressman Michael Cloud (R-TX27), for their leadership in delivering the United States-Mexico-Canada Agreement (USMCA).
The USMCA is designed to better serve the interests of American workers, farmers, ranchers and businesses and to support mutually beneficial trade thereby leading to freer markets, fairer trade and robust economic growth in North America.
“USMCA is a great deal for all three countries, solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our farmers and manufacturers, reduces trade barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world,” said United States President Donald J. Trump. Trump’s administration asserts that the USMCA has the potential to create nearly 600,000 jobs and generate up to $235 billion in economic activity.
This “NAFTA 2.0” agreement means more jobs and more economic output not only for the United States, but also for the State of Texas, Mexico’s largest trading partner. In 2018, Texas sent $137.2 billion in exports to Canada and Mexico, $109.7 billion of which went to Mexico. Top Texas exports to both countries included $22.8 billion in petroleum and coal products, $14.8 billion in chemicals and $10.8 billion in oil and gas.
The impact to the Coastal Bend will be resounding, as Mexico is the largest trading partner for the Port of Corpus Christi in total tonnage, accounting for over 13 percent of the Port’s total imports and exports. Together, Canada and Mexico account for nearly 25 percent.
“We applaud the Trump Administration’s foresight and diligence in successfully negotiating the USMCA. As the Nation’s largest energy export gateway, the Port of Corpus Christi is a major trading hub with Mexico and is positioned now as another outlet for Canadian crude production as well,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
An innovative agreement, the USMCA includes a first-ever dedicated chapter on small and medium-sized enterprises (SMEs) as well as provisions for digital trade and Intellectual Property rights.
“This historic new deal will open the pathway for fairer trade for our nation, and it absolutely will evolve our relationship with Canada and Mexico in a meaningful and collaborative way,” said Charles W. Zahn, Jr., Port of Corpus Christi Commission Chairman.
