The Metals Service Center Institute (MSCI) is calling for a quick end to the year-long ratification fight for the United States-Mexico-Canada Agreement.
Last-minute compromises by the Trump administration and its Democratic opponents in Congress appear to have paved the way for a ratification vote before year-end. The agreement has already been ratified by Mexico, Kallanish notes.
“As a North American trade association that includes the broadest representation of the metals value chain, from producers and service centers to processors and users, MSCI believes NAFTA (the previous North American Free Trade Agreement) positively impacted our industry, fostering a $1 trillion annual trading relationship that has benefited both businesses and consumers,” says MSCI ceo M. Robert Weidner. “Service centres and the downstream manufacturers require a strong North American production base and thoughtful and modern trade policy. While NAFTA contributed to the US, Canadian, and Mexican economies and industrial metals supply chain, it was time to rewrite it for the 21st century.”
In June 2017, MSCI urged the administration to ink an updated North American agreement which stressed tailor-fit policies for specific industries; stronger circumvention measures; and more intelligent data gathering.