USMCA IS A VICTORY FOR EQUIPMENT MANUFACTURERS
WASHINGTON, D.C. - Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement after the President signed the United States-Mexico-Canada Agreement during a ceremony at the White House:
"President Trump and Congress have delivered a free trade agreement that works for equipment manufacturers, farmers, and working families across the country,” said Dennis Slater, president of AEM. “We thank President Trump, Vice President Pence, House Speaker Pelosi, and Senate Majority Leader McConnell for their leadership and for putting policy ahead of politics to get this landmark deal across the finish line. The agreement restores certainty to the North American market and secures duty-free access to our industry’s two largest export markets. It will help equipment manufacturers grow in the United States, compete globally, and support millions of family-sustaining jobs across the country. We look forward to working closely with President Trump and Congress to make sure equipment manufacturers can compete and win in the global economy.”
Several senior executives representing the equipment manufacturing industry also hailed today’s signing of the UMSCA by President Trump:
- Komatsu America: “The strong bi-partisan support of the USMCA indicates how important it was to update our trading rules," said AEM CE Chair Rod Schrader, Chairman & CEO, Komatsu America. "USMCA will allow American manufacturers to establish more predictable trade relations and helps ensure fair trade for our products with our important trading partners, Canada and Mexico.”
- Blount International: “Increasing trade with Canada and Mexico, will help build our business, along with the entire agricultural industry by providing a growth base for equipment manufacturers like us,” said AEM Ag Chair Jerry Johnson, President, Farm, Ranch & Agriculture Division, Blount International. “Giving farmers more equitable trading opportunities with Mexico and Canada opens possibilities for growing net farm income, at a time when they are faced with lower commodity prices, higher input costs, global uncertainty, and an onslaught of weather-related disasters.”
- Volvo Construction Equipment: “USMCA is essential for growth in the manufacturing backbone of the American economy—equipment manufacturers depend on low barriers to trade, especially with our closest neighbors,” said AEM CE Vice Chair Stephen Roy, Senior Vice President North America, Volvo Construction Equipment. “We commend the passage of this modern North American trade agreement and hope it signals continued bi-partisan work to create positive conditions for trade and industry.”
- AGCO Corporation: “AGCO appreciates the work Congress and the Trump Administration have put forth to secure free and fair trade with Mexico and Canada,” said AEM Board Director Bob Crain, Senior Vice President and General Manager, AGCO Corporation. “The agreement signed by President Trump will greatly improve market stability for our customers and dealers in the U.S., Canada and Mexico. Agriculture is the backbone of our economy. This agreement will directly benefit American farmers, U.S. equipment manufacturers and the rural communities that rely on these important sectors of our economy, by supporting jobs and bringing needed financial stability back to the agricultural landscape.”
- Case IH: “Case IH is pleased to see the passage of USMCA; there are improvements made in USMCA that support America’s farmers, rural communities and businesses,” said AEM Board Director Scott Harris, Case IH Vice President, North America. With commodity price stagnation and global market uncertainty, solidifying and expanding the North American market is absolutely critical for the broader agricultural community, our core dealer partners, and customers."
- Caterpillar Inc.: “The USMCA is good for America and American manufacturing, allowing U.S. manufacturers to draw on the strengths of our North American trading partners to make U.S.-produced products more competitive globally,” says AEM Board Director, Phil Kelliher, Caterpillar vice president. “We appreciate the bipartisan support it received in Congress and are very pleased to see it signed into law.”
- Gradall Industries: “The United States-Mexico-Canada Agreement will modernize and strengthen trade with Mexico and Canada in ways that expand economic opportunity and increase competitiveness for equipment manufacturers in Ohio,” said AEM Board Director Michael Haberman, President, Gradall Industries. “It is an immediate shot in the arm for our industry and provides the long-term certainty that our industry needs to continue to grow and prosper.”
- Vermeer Corporation: “As a manufacturer of large construction and agricultural equipment making an impact on communities around the world, we look forward to moves that make getting Vermeer equipment in the hands of those who need it easier than before,” said AEM Board Director Jason Andringa, President and CEO, Vermeer Corporation. “Today’s signing of the USMCA signals progress for manufacturers and markets across the country and beyond by removing uncertainty and paving the way for continued economic growth. Vermeer Corporation thanks the Administration and legislators in working together to get this done for America!”
Since the creation of NAFTA two decades ago, equipment manufacturers have benefited greatly from duty-free market access to our industry’s two largest export markets, Canada and Mexico. The USMCA builds on the success of NAFTA to deliver an updated North American trade agreement for the 21st century. From its inception, AEM worked with both the Trump Administration and Congress to ensure passage of a trade agreement that fulfills many of our industry’s goals and strengthens equipment manufacturing in North America. AEM activated equipment manufacturing workers and supporters, reaching members of Congress with a steady stream of pro-USMCA letters, calls, and meetings. AEM also hosted the Honorable Mike Pence, Vice President of the United States, at an equipment manufacturing facility earlier this year to build support for the trade agreement, and ran a national public education campaign on the various benefits of USMCA. AEM is also a member of the 600 association and business-member strong USMCA Coalition. Equipment manufacturers support 1.5 million jobs and contributes $188 billion each year in the U.S. and Canada.
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry supports 1.3 million jobs in the U.S., and 149,000 more in Canada. Equipment manufacturers also contribute $188 billion combined to the U.S. and Canadian economies.