For Immediate Release
Contact: Grace Morgan
December 12, 2019
WASHINGTON, D.C. – Today, the Taxpayers Protection Alliance (TPA) praised Republican and Democratic lawmakers for putting aside partisan politics and agreeing to a compromise version of the United States-Mexico-Canada Free Trade Agreement (USMCA). Originally agreed to by the three North American nations in November 2018, USMCA serves as a successor trade deal to the North American Free Trade Agreement and preserves the free trade zone amongst its signatory countries.
TPA president David Williams praised the USMCA agreement, noting, “free trade remains a cornerstone of the U.S. economy supporting 40 million jobs and boosting the fortunes of households and businesses across the country. This week’s agreement ensures that America will continue to enjoy a productive relationship with its neighbors, with all three countries poised to reap the benefits of open markets for decades to come. Thanks to USMCA, U.S. consumers can enjoy a continued reprieve from onerous trade taxes.”
Williams continued: “USMCA succeeds in leaving the free-trade zone between the U.S., Canada, and Mexico in place, while building on NAFTA in several important ways. The agreement shores up critical intellectual property (IP) rights, including key patent protections for millions of innovators across North America. This is currently a critical problem for international trade as countries across the continent wantonly disregard IP protections and, in the process, create substantial uncertainty. For example, Canadian courts have a troubling track record in nulling patents they find to be lacking in ‘utility.’ This creates an unsustainable standard where bureaucrats favor precedent over innovators. And, in the U.S., the Patent Trials and Appeals Board allows copycats an easy avenue to render IP protections null and void. USMCA may not fix these problems overnight, but the agreement shows a renewed resolve to protect entrepreneurs.”
Williams concluded: “This bipartisan compromise over USMCA will set the stage for American growth for decades to come. Millions of American jobs and businesses depend on low trade taxes and strong IP protections, and the new agreement provides just that. Across the country and continent, taxpayers and consumers are grateful that their leaders are taking a bold step on their behalf.”