SBA Pacific NW Region: The USMCA went into effect July 1. Here’s what you need to know.
Why is this trade agreement important to small businesses in the Pacific Northwest?
Canada and Mexico are the U.S.’s largest trading partners. Plus, our region’s shared border and proximity to Canada make the impact of the United States-Mexico-Canada Agreement (USMCA) substantial to small firms in the Pacific Northwest. Consider this:
– The vast majority of companies that export goods from the Pacific Northwest are small firms – WA: 90% of companies, OR: 89%, ID: 85%, AK: 73%).
– In 2018, more than $17 billion in exports from the Pacific Northwest Region went to Canada and Mexico alone.
– From transportation equipment, electronic products and machinery to the region’s coveted agricultural, fish, wood and food products, Pacific Northwest small businesses are selling what trade partners in Canada and Mexico want to buy.
Read full newsletter from SBA Pacific NW Region here: https://content.govdelivery.com/accounts/USSBA/bulletins/2938aa4
