With Tariffs Tabled, CompTIA Urges Congress to Approve USMCA
New pact could build on $185 billion worth of tech product and services trade between North American neighbors
WASHINGTON, June 11, 2019 /PRNewswire/ -- Now that the United States has dropped its threat to impose tariffs on imported goods from Mexico, CompTIA, the leading technology industry association, today renewed its call for Congress to approve the United States-Mexico-Canada Agreement (USMCA).
The USMCA, the trade deal signed last year to replace NAFTA, has the potential to enable the U.S., Mexico and Canada to significantly expand the estimated $185 billion in technology product and services trade that currently occurs between the three nations.
"Congress can support and promote America's global technology leadership by quickly approving the USMCA," said Stefanie Holland, vice president for federal and global policy at CompTIA. "Commitments that prohibit data localization, enable cross-border data transfers and protect intellectual property, source code and algorithms will be a driving force of global growth for the U.S. tech industry in the next decade."
Mexico and Canada account for the largest share of U.S. technology trade, representing 33 percent of U.S. tech goods exports, and directly supporting 234,679 U.S. jobs, according to a CompTIA analysis of trade data. Since 2010, U.S. tech good exports to Mexico increased by $11.9 billion or 36 percent, while tech good exports to Canada increased by about $500 million or 2 percent over the same period.
"The data confirms the degree to which technology transcends borders through global supply chains, integration, and interoperability," said Tim Herbert, executive vice president for research and market intelligence at CompTIA. "Innovation is increasingly a worldwide phenomenon, which means customers have more choices than ever for the tech products and services that best meet their needs."
CompTIA's analysis of trade data reveals that 32 states export $100 million or more in tech products to Canada; and 24 states export $100 million or more in tech products to Mexico. These exports cover a range of products, such as navigation, measuring and control instruments; computers and peripherals; communication equipment; semiconductors; and audio and video equipment.
California and Texas are the leading states for tech exports to Canada and Mexico, but the economic impact on tech trade in North America touches all corners of the U.S.; from Massachusetts and Vermont in the Northeast, to Illinois, Michigan and Ohio in the Midwest, to Florida, Georgia and North Carolina in the Southeast, to Arizona in the West.
CompTIA and its grassroots network of 35 state and local technology councils has called on Congress to pass the USMCA this summer. To read the letter visit https://www.comptia.org/docs/default-source/advocacy-documents/comptia-tecna-usmca-letter.pdf.
For more on the global impact of U.S. technology exports download a free copy of CompTIA's "Tech Trade Snapshot 2019" report at https://www.comptia.org/resources/tech-trade-snapshot-2019.
About CompTIA
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5 trillion global information technology ecosystem; and the more than 50 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world's economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce. Visit www.comptia.org to learn more.
Contact:
Steven Ostrowski
CompTIA
+1 (630) 678-8468
[email protected]
SOURCE CompTIA
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