AZTC Public Policy Call to Action! Comment on NAFTA Regulations
Posted on: Jun 12, 2017 | By: Lauren Witte
Please join the Arizona Technology Council in our efforts to maintain and advance our international trade relationships and enhancing our economic security by supporting the modernization of the North American Free Trade Agreement (NAFTA). Comments close at midnight on Monday, June 12.
How can I show my support?
- Go to this page and click on the 'Comment Now' button.
- Copy and paste the below verbiage into the 'Comment' section, or use your own message.
- Complete the remaining questions on the form and submit.
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NAFTA has been a success for Arizona. Modernization of NAFTA offers a unique opportunity to advance Arizona's relationship with its strongest and most important international trading partners, and enhance U.S. economic and security interests across the globe. I support the modernization of the North American Free Trade Agreement, with the goal of enhancing U.S. competitiveness and advancing North America's leadership role in a highly interdependent world.
Arizona's economy is deeply intertwined with its NAFTA partners. According to the Arizona Commerce Authority, in 2014 more than 257,800 jobs in our state relied on trade and investment with our two largest trading partners, Mexico and Canada. In 2015, the U.S. Census reports that Arizona had $16.8 billion in combined trade with Mexico (representing nearly 40% of the state's total trade) and maintained a $1.5 billion trade surplus. Also in 2015, Arizona had $3.8 billion in combined trade with Canada and maintained an over $800 million trade surplus. In addition, tourism ties with our NAFTA partners are significant drivers of Arizona's economic success. Mexican visitors are responsible for 66% of all Arizona visitor expenditures. An average of 3.5 million Mexicans visit Arizona each year and spend an aggregate $2.66 billion, or nearly $7.3 million per day. Likewise, nearly 900,000 Canadians visit Arizona every year, spending an average of $1,300 per visit. When it comes to business attraction, Canada is Arizona's largest source of foreign direct investment. The impact of Canadian investment on Arizona job creation provides a strong economic stimulus to the region. The facts clearly establish that Arizona's economy benefits from, and is inextricably linked to, its NAFTA partners.
Any outcome that results in substantive new tariff restrictions could destabilize Arizona's trade and tourism relationships, disrupt established and mutually beneficial supply chains and travel patterns, and negatively impact Arizona's economic recovery.