USMCA 101: Bringing Trade into the 21st Century and Supporting U.S. Innovators

First things first. What is the USMCA?
The U.S.-Mexico-Canada Agreement — better known as the USMCA — is a modern trade agreement that will put America’s job creators, workers, and families first. It brings our country’s trade relationship with Canada and Mexico into the 21st century by strengthening wage and worker protection provisions and devising rules of the road for digital trade and e-commerce.

Unlike NAFTA, the USMCA is a trade deal designed for the 21st century because it contains a chapter focused specifically on digital trade, reflecting the e-commerce boom of the past quarter century. The USMCA also promotes innovation by providing ten years of patent protections for cutting-edge biologic drugs, leveling the playing field between innovators in the U.S., Canada, and Mexico. This provision incentivizes American scientists to find new cures without fear of other countries stealing their intellectual property.

Former Health and Human Services Secretary Tommy Thompson wrote in a recent op-ed, “But stronger intellectual property protections, like those in the USMCA, would encourage future investment in biologics, spurring new research, clinical trials, and even first-in-class cures. These safeguards give them a chance to earn back their upfront costs and earn a return should their biologic product successfully make it to market.”

How Trade Works for America is Helping:
Trade Works for America recently hosted an event at Merit Medial Systems, a medical device manufacturing company headquartered in Utah, featuring special guest Vice President Mike Pence. Following the event, Merit Medical Systems Chairman and CEO Fred Lampropoulos wrote an op-ed sharing how the USMCA will help his global business continue to innovate and help more people, “Merit Medical Systems relies on innovative research daily, and the USMCA would ensure we can stay on the cutting edge of lifesaving technology.”

It’s time for Congress to pass #USMCANow.