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Press Room
The Vinyl Institute Praises the Work on USMCA
Dec. 19, 2019
WASHINGTON — The Vinyl Institute commends both Republican and Democratic leaders in Washington for their hard work on the United States-Mexico-Canada Agreement (USMCA) and urges Congress to pass this agreement, and President Trump to sign it, promptly. USMCA is a win for American workers and businesses and will help create a prosperous environment for the American vinyl resin industry for years to come.
The USMCA will replace the 25-year-old North American Free Trade Agreement (NAFTA) and modernize laws governing trade between these countries. It also protects American industries’ tariff-free access to the Mexican and Canadian markets. Having access to the two closest foreign markets give vinyl manufacturers a clear advantage in location but also as a unified trilateral in negotiations. According to the U.S. International Trade Commission, the USMCA would increase U.S. exports to Canada and Mexico by $19.1 billion (5.9%) and $14.2 billion (6.7%), respectively. About 1/3 of the vinyl polymer produced in the United States is exported to foreign trading partners. In 2018, U.S. domestic vinyl manufacturers exported 17 percent to Canada and 8 percent to Mexico. U.S. vinyl resin exports are expected to grow by more than 4.9 percent by 2022, creating thousands of new jobs. Overall, the USMCA will create over 176,000 new American jobs and more than $68 billion in new economic activity.
The USMCA also refreshes our country’s responsibilities for sustainable development in modern trade agreements. With abundant supplies of our two primary feedstocks — salt and natural gas — vinyl products are among the most sustainable exports produced in the U.S. With environmentally and socially preferred domestic manufacturing technology and a near-endless supply of raw materials, the U.S. is positioned to be a significant polyvinyl chloride net export leader for many years to come.
The Vinyl Institute applauds the Members of Congress and the Administration coming together to negotiate and finalize the USMCA successfully. We hope that the same bipartisan spirit of putting American workers, manufacturers, and the economy first will continue with Congress and the President quickly ratifying and signing the trade pact.
About the Vinyl Institute:
The Vinyl Institute (VI), founded in 1982, is a U.S. trade association representing the leading manufacturers of vinyl, vinyl chloride monomer, vinyl additives, and modifiers. The VI works on behalf of its members to promote the benefits of the world’s most versatile plastic, used to make everything from PVC piping to flooring, roofing and vinyl siding. The vinyl industry in the United States employs over 350,000 highly skilled employees at nearly 3,000 facilities and generates an economic value of $54 billion. For more information, visit vinylinfo.org.