CTA Signs on to CompTIA Letter Calling on Congress to Pass the USMCA Trade Deal
Colorado Technology Association joined CompTIA and its grassroots network of 35 state and local technology councils to call on Congress to pass the United States-Mexico-Canada Agreement (USMCA) this summer.
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.
The deal includes commitments that prohibit data localization, enable cross-border data transfers and protect intellectual property, source code and algorithms.
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.
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.