LINCOLN - The United States Mexico Canada Trade Agreement will officially replace NAFTA starting July 1st.
During a webinar hosted by the Nebraska Chamber of Commerce Wednesday, Governor Pete Ricketts said USMCA is a great way to grow Nebraska.
Ricketts said it will take the wonderful trade relationship the state has with Canada and Mexico to the next level.
"It's going to maintain market access, so all food agricultural products had zero tariffs out of NAFTA and remains at zero tariffs under USMCA. USMCA exceeds NAFTA standards to facilitate better trade and manufacturing goods among other provisions as the agreement has a market access chapter that maintains duty-free treatment of originating goods."
Ricketts said Canada is Nebraska’s second leading supplier of imports. In 2019, Nebraska imported over $900 million from Canada which represents over 20 percent of the state’s total imports.
He said Mexico is Nebraska’s third largest supplier of imports as they grew 17.3 percent in 2018 and 2019.