Supporting North American innovation, manufacturing and mutually beneficial trade, the United States-Mexico-Canada Agreement (USMCA) aims to grow the North American economies and create high-paying jobs for Americans.
Moderated by Phoenix Business RadioX, a distinguished panel from the Canada Arizona Business Council, Jennings, Strouss & Salmon and Thompson Hine LLP recently joined Arizona Technology Council CEO Steve Zylstra for an engaging discussion on the modernized trade agreement and how it will promote mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America.
“The USMCA is an especially important topic to me and the Council,” said Steven G. Zylstra, president and CEO. “Mexico is our No. 1 trading partner, and Canada is No. 2….both of which are critical relationships for the success of Arizona’s economy.”
The Council’s May 2021 TechCast featured Canada Arizona Business Council Founder and CEO Glenn Williamson, Thompson Hine LLP Senior Counsel Dan Ujczo, and Jennings Strouss Attorney Patrick Welch. These USMCA experts kicked off the conversation by clarifying exactly why the trilateral agreement so important and how it is different than its predecessor, NAFTA.
“The fact that we have the pace of commerce flowing quickly and smoothly at our northern and southern borders is incredible,” said Glenn Williamson, founder and CEO of the Canada Arizona Business Council. “There was a very recent moment in time where supply chains were halted, and now we have the opportunity to build up something very competitive like Asia and Europe. North America needs to start seeing itself as the powerful trade bloc that is can potentially be.”
“Just the breadth of the USMCA agreement is pretty impressive, with more than 1800 pages and 12 chapters,” stated Patrick Welch, whose work at law firm Jennings, Strouss & Salmon focuses on the finer points of trade agreements. “Without a doubt, the USMCA is a comprehensive agreement that aims to preserve and promote trade for the region.”
“NAFTA became a punching bag for everything that was wrong between the three countries, regarding changes in manufacturing, supply chain, etc., said Dan Ujczo, senior counsel at the law firm of Thompson Hine LLP. “The USMCA was more of a renovation than a re-do, as about 60% of the USMCA is the same as NAFTA. However, the modernized agreement brought it up to speed for the 21st Century with electric vehicles, border and immigration issues, as well as the transfer, privacy and protection of data in today’s digital world and business environment. This agreement tries to address those modern concepts.”
The official podcast of the Arizona Technology Council, AZTechCast is dedicated to covering innovation and technology in Arizona and beyond. Through the art of the connected conversation, AZ TechCast’s hosts and guests share success stories, tech news and analysis about the region’s leading startups, companies and emerging technologies, as well as the latest industry trends and critical issues propelling Arizona’s growing technology ecosystem. Visit www.aztechcouncil.org/techcast to learn more or to listen to recent episodes.
About Phoenix Business RadioX
Karen Nowicki is the owner and president of Phoenix Business RadioX. Amplifying the voice of business, Phoenix Business RadioX helps local businesses and professional associations get the word out about the important work they’re doing to serve their market, profession and community. A successful author, speaker and the creator of Deep Impact Leadership™ and SoulMarks Coaching™, Nowicki is a two-time recipient of the prestigious national Choice Award® for her book and personal development retreat. In addition, Nowicki has been an expert guest on regional TV and radio shows, including Fox Phoenix Morning Show, Sonoran Living, Good Morning Arizona, The Chat Room and Mid-Day Arizona. Recognized for her leadership and business acumen, she has been a regular contributor to many print and online magazines – publishing articles and blogs for business and education.
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