Pence Touts Export Benefits of USMCA at Rally in Permian Basin
U.S. exports to Canada and Mexico will increase substantially after the U.S.-Mexico-Canada Agreement is signed, Vice President Mike Pence said during a rally in New Mexico on Aug. 21. The rally was focused on the Permian Basin oil fields and…
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their importance to the regional economy and U.S. energy independence. Pence said that, drawing on International Trade Commission forecasts, the USMCA will cause exports to Canada to increase by $19 billion and exports to Mexico to increase by about $14 billion. He said the U.S. oil industry, which exports about 30 percent of its oil to Canada and Mexico, will also benefit. “That number is only going to increase when the USMCA is signed into law,” he said.