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WASHINGTON (November 30, 2018) – The American Chemistry Council (ACC) issued the following statement in response to Friday’s signing of the “United States-Mexico-Canada Agreement” (USMCA) in Buenos Aires:

“The newly-inked USMCA, once ratified, would allow chemical manufacturers to continue to leverage the highly-integrated, North American supply chain to reduce costs, boost U.S. exports, and inject new growth and job-creation throughout the region. ACC strongly supports the inclusion of the final Sectoral Annex for Chemical Substances, which embraces the principles the North American chemical industry jointly recommended to enhance Regulatory Cooperation.

“Despite the contentious negotiations that took place over the past year, the U.S., Mexico, and Canada have solidified a trilateral agreement that could eliminate tariffs throughout North America. At the same time, the Section 232 tariffs on steel and aluminum still cast a shadow over the zero-tariff philosophy of the USMCA. We urge President Trump to rescind all tariffs and avoid any quotas on steel and aluminum in order to maximize the job and economic growth made possible by the USMCA.

“ACC looks forward to reviewing any revised text that the parties may introduce in the coming days to ensure that it is consistent with the goal of driving growth throughout the supply chain and strengthening U.S. manufacturing competitiveness. We will also continue to advocate for greater investment protections in the pact, since free trade agreements with strong investor-state dispute settlement (ISDS) provisions in the past have created better climates for investment as well as trade-related economic growth.”

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