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Press Room
Vinyl Institute Applauds Presidential USMCA Signing Ceremony
Jan. 29, 2020
WASHINGTON — The Vinyl Institute (VI) applauds President Trump for signing the U.S.-Mexico-Canada Agreement (USMCA). The trade agreement, which will replace the 25-year-old North American Free Trade Agreement (NAFTA), passed the U.S. Senate overwhelmingly with a bipartisan vote of 89-10 on Jan. 16 and passed the U.S. House of Representatives with a vote of 385-41 on Dec. 19. The trade deal will increase exports with Mexico and Canada and create thousands of jobs in the U.S.
“The vinyl resin industry is very supportive and grateful to the Trump Administration for its leadership on so many of our key issues, including trade,” said VI President & CEO Ned Monroe. “We applaud the Members of Congress and the Administration for coming together in the spirit of bipartisanship to negotiate and finalize the USMCA successfully and putting American workers, manufacturers, and the economy first. This trade deal will grow jobs in the U.S.”
In recognition of the vinyl industry’s grassroots support and extensive coalition activity in support of this critical trade agreement, VI Vice President of Government Affairs Kevin Koonce attended the White House’s Presidential bill-signing ceremony at which President Trump signed the USMCA.
The USMCA has the potential to create nearly 176,000 jobs and generate $68 billion in economic activity. The U.S. vinyl industry exports about one-third of its PVC resin to foreign trading partners. According to the U.S. International Trade Commission, the USMCA will increase U.S. vinyl exports by 4.9 percent by 2022.
Additionally, the trade agreement also refreshes our country’s responsibilities for sustainable development in modern trade agreements, and vinyl’s sustainability plays a part. 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.
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.