Canada, the United States and Mexico share one of the most important trade relationships in the world, supporting economic growth, prosperity and good jobs in all 3 countries.
Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, Katherine Tai, United States Trade Representative, and Tatiana Clouthier Carrillo, Mexico’s Secretary of Economy, concluded a successful first meeting of the Canada-United States-Mexico Agreement’s (CUSMA) Free Trade Commission (FTC).
During today’s meeting, Minister Ng, Ambassador Tai and Secretary Clouthier discussed progress on the implementation of the new NAFTA, as well as important trilateral trade issues such as the resilience of our integrated supply chains, the importance of strong labour standards and taking action to end forced labour, advancing environmental priorities and mitigating the economic effects of climate change.
The 3 also discussed how their countries can work together to ensure that the new NAFTA generates inclusive growth and benefits women, Indigenous peoples, racialized communities and other under-represented groups, for a stronger recovery from COVID-19.
Yesterday, while speaking with Ambassador Tai, Minister Ng raised their shared commitment to implementing the Roadmap for a Renewed United Stated-Canada Partnership, and to working together to strengthen supply chains between both countries. During Minister Ng’s meeting with Secretary Clouthier, they discussed their shared commitment to inclusive trade, and to ensure prosperity for workers and businesses in both countries.
Minister Ng, Ambassador Tai and Secretary Clouthier concluded the meeting with the adoption of a trilateral statement outlining the overall results of the FTC meeting and of work related CUSMA committees and working groups.
“Canada’s long-standing trade relationship with the United States and Mexico under NAFTA and now the new modernized NAFTA, has been a model for the world. Through people-to-people and business-to-business ties, we have built one of the most competitive trade regions in the world. I look forward to continuing my work with Ambassador Tai and Secretary Clouthier as our 3 countries implement the agreement and address key trade issues to ensure that North America emerges from the COVID-19 pandemic stronger and more competitively than ever, with a recovery that works for everyone.”
– Mary Ng, Minister of Small Business, Export Promotion and International Trade
The new CUSMA entered into force on July 1, 2020.
North America has a combined GDP of more than US$24 trillion and a population of 495 million.
In 2019, total trilateral merchandise trade reached nearly $1.5 trillion.
Total Canada-U.S. trade in goods and services: $1 trillion in 2019.
Total Canadian merchandise exports to the U.S.: $446.6 billion in 2019.
Total Canada-Mexico trade in goods and services: $35.1 billion in 2019.
Total Canadian merchandise exports to Mexico: $7.3 billion in 2019.