High-tech industries are essential to the American economy. These industries provide high-skilled, high-wage jobs for America’s workers. Technological superiority is also vital to our national security. It is imperative that America remains the world leader in the technology industry. NAFTA was approved in 1994 when technology was vastly different than today. USMCA recognizes those changes and modernizes the agreement to support 21st-century jobs and protect our national interests.
The USMCA includes ways to protect Intellectual Property (IP), which will protect U.S. technology firms, and by extension, U.S. technology jobs.
The USMCA also includes provisions to support the expansion of digital trade in a fair and balanced way, prohibiting customs duties on products traded electronically.
The agreement also limits the authority of other governments to force companies to hand over proprietary information, preventing foreign countries from undercutting American businesses and jobs through the theft of source code and algorithms.
Additionally, the USMCA will promote collaboration in handling cybersecurity challenges.
The agreement will also protect consumers’ privacy.
THE TECHNOLOGY SECTOR IS THE FASTEST GROWING INDUSTRY IN THE COUNTRY, WITH OVER
THE INDUSTRY EMPLOYS 6.9 MILLION PEOPLE IN THE UNITED STATES.
THE WORLD OF TECHNOLOGY HAS CHANGED DRAMATICALLY SINCE NAFTA WAS PASSED IN 1994.
IN THE PAST TWO YEARS,
OF THE WORLD’S EXISTING DATA HAS BEEN CREATED.
THE U.S. DEPARTMENT OF COMMERCE ESTIMATES THAT INTERNATIONAL TRADE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY (ICT) AND “POTENTIALLY” ICT-ENABLED SERVICES EXPORTED TO CANADA TOTALED
IN 2016. FROM 2006 TO 2016, EXPORTS GREW AT 4%.
EXPORTS TO MEXICO TOTALED $8.8 BILLION –
FROM 2006 TO 2016, EXPORTS GREW AT 5.5 %