The United States, Mexico, and Canada Agreement (USMCA) recognizes the fundamental role of small and medium-sized enterprises (SMEs) as engines of the North American economy. In fact, Mexico and Canada are the top two export destinations for U.S. SME goods. In 2016 (latest data available), 82,000 U.S. small and medium sized businesses exported $51.2 billion in goods to Canada, and 53,000 U.S. small and medium businesses exported $76.2 billion in goods to Mexico. Now, for the first time in a U.S. trade agreement, the USMCA includes a dedicated chapter on SMEs, as well as other key provisions supporting small and medium-sized businesses throughout the agreement.
Chapter on Small and Medium-Sized Enterprises
Key Achievement: First SME chapter in a U.S. Trade Agreement
The chapter promotes cooperation between the Parties to increase SME trade and investment opportunities. It establishes information-sharing tools that will help SMEs better understand the benefits of the agreement and provides other information useful for SMEs doing business in the region. The chapter also establishes a committee on SME issues comprised of government officials from each country.
Key Achievement: Establishing an SME Dialogue with Stakeholders
The chapter launches a new framework for an ongoing SME Dialogue, which will be open to participation by SMEs, including those owned by diverse and under-represented groups. The Dialogue will enable participants to provide views and information to government officials on the implementation and further modernization of the agreement, thereby ensuring that SMEs continue to benefit.
Provisions Throughout the USMCA Will Benefit SMEs Read More